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Auction.com charged my credit car with an unauthorized charge of $2500, which after disputing it with the bank, caused my card to be blocked and waiting 10 days for the charge to be reversed. I'm out $5000 as I wait for the charges to reverse. Auction.com claims no responsibility eventhough there is no receipt for the other charge.
The initial bid deposit is a temporary hold of $2,500 and is not applied towards the purchase price. It is used simply as a security instrument that ensures your identity and good faith because these auctions are available to anyone in the public. It also ensures we have a pool of serious bidders. Win or lose, it is refundable and will be automatically released the Saturday after the auction event ends. Please keep in mind, due to bank process, this can take anywhere from 1-5 business days to reflect on your account.
This information is in our help center, on the registration page, and in an email sent to you with the participation terms.
Paul P.'s review of Auction.com earned 3 Very Helpful votes
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Paul,
Thank you for the great feedback and the service opportunity. We appreciate it!
Sincerely,
Getaroom