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Q. What happens if the high bidder fails to pay for the auction? - Printable Version

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Q. What happens if the high bidder fails to pay for the auction? - forumuser - 24-01-2015

What happens if the high bidder fails to pay for the auction?


RE: Q. What happens if the high bidder fails to pay for the auction? - admin - 24-01-2015

In the rare event of a high bidder failing to pay for the auction they won, Bido will work with the seller to determine the best route - the seller may do any of the following:

1) Continue to wait for the buyer's payment, or

2) Seek another bidder's bid, if applicable, and if the other bidder agrees, or

3) Schedule and run a re-auction at any time of seller's choice, while informing the other bidders about the scheduled re-auction.

In addition, non-paying bidders risk losing their Bido account privileges and Bido reserves the right to demand from the non-paying bidders a payment of the Bido Sale commission (up to a maximum of $40 per Auction). More information is in our Terms Of Service. Please contact support if you need further assistance.