Payments


When will online bidding be introduced on auctionnews.com?

Our Online Bidding goes live in January 2020
The following FAQ's are published for when the online bidding is live. 



How do I make a payment if I win a lot?

Once you have won the lot, the auctioneer will send you an invoice, detailing what you have purchased, the amount you owe and when it needs to be paid by. They may send you a link so payment can be made online or send you their bank details so that you can make a bank transfer.

We strongly recommend you check the auctioneer’s payment terms prior to bidding as they can vary widely from one auction to the next.



Why do I need to leave a deposit on some auctions hosted on AuctionNews.com but not others?

To ensure bidders intentions are genuine, some auctioneers require an up-front deposit before allowing bidders to join their auction and place a bid. This deposit is held in the auctioneer’s bank account and will be deducted from your final bill. If you do not make a successful purchase it will be refunded by the auctioneer directly within a specified time frame.

Read the Important Information section for the relevant auction to find out if a deposit is required and how to pay it.



How long do I have to make a payment after I have won an item at auction?

This will vary from one auction to the next but will typically be within 24 hours of the lot closing. We will usually list this information on the auction and lot detail pages or you can check the auction terms and conditions on the auctioneer’s website. Please note that failure to pay the full amount owing by the deadline could result in you losing the lots you have won and penalty costs being incurred.



What additional fees will I incur if I win a lot?

You should be aware that the amount you bid is not the final amount payable. Most auctions will have additional fees such as a buyer’s premium and VAT and there may be additional fees for storage of uncollected lots and delivery charges.

You will find details of additional fees payable on the lot detail page under “Important Information” and in the auction terms and conditions on the auctioneers website. 



Why do you take my credit card details when I register to bid on auctionnews.com?

We do this to verify that our bidders are genuine prior to joining an auction. By matching your card and address details we can verify your identity and help protect ourselves and our auctioneers from fraud.

Your card will not be used to settle any lots you buy in the event of you winning an auction as you will settle the bill directly with the auctioneer.



Why can I see a small transaction fee on my credit/debit card account when I register to bid?

When our card payment provider performs a security check on your card to verify your identity, you may notice a small transaction (less than £1) on your account when you check it online. This transaction is temporary and will disappear shortly after your card details have been verified.



Are my credit/debit card details secure with Auction News?

Auction News do not store your card details and all credit and debit card data is encrypted before passing to our payment provider Stripe. We will never debit your card in the event of you winning an auction and your card details will not be passed on to any auctioneer or third party.

We are totally committed to keeping your card details safe and are 100% compliant with the Payment Card Industry Data Security Standards (PCI DSS) which we review and validate annually.

Our payments provider Stripe has been audited by an independent PCI Qualified Security Assessor (QSA) and is certified as a PCI Level 1 Service Provider - the most stringent level of certification available in the payments industry.



Got more questions?

Call us on 01332 551300 or Email info@auctionnews.com

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