Why do I need a security deposit and how to increase the buyer power? (Video)

Each member is required to place a Security Deposit prior to bidding. The Security Deposit is collected in advance as an assurance that the member will pay for the vehicle they purchase.

Your Security Deposit will also determine your maximum possible bid (Buyer Power). This is the highest bid amount that the bidder can place at any time.

Buyer Power

We require a minimum Security Deposit of $600 to place a bid. If you would like to bid on multiple lots, or bid higher than $6,000 USD, you’ll have to increase your Buyer Power by providing an additional deposit (10% of the maximum bid, minimum of $600 per vehicle).

Members can increase their security deposit at any time by logging in and going to Buyer Power in the main navigation.

A Security Deposit can be placed by credit or debit card, Google Pay/Apple Pay, wire transfer, Zelle or MoneyGram. If a Security Deposit is made by wire transfer or MoneyGram, payment must post to AutoBidMaster’s bank account before the Security Deposit will show in the user’s AutoBidMaster account. To see if the Security Deposit has posted, please log in to your account and navigate to the "Deposits" tab.

Credit or Debit card deposit will be automatically released after 30 days or you can release it at any time if you have no active bids or outstanding balance.

Relisting Fees

Refusing to timely pay in full for a vehicle that is won at auction results in the forfeiture of the Security Deposit, and you will incur fees to relist your vehicle.

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