Reply to "Someone on another thread said something about "market softening?""

Robert M

@WNGD posted:
Where do they take their 5% commission from if the buyer backs out?
Also, see Theron's post above:
"I was ghosted by a buyer. Bring-A-Trailer refunded my auction fee"

In order to be a bidder you have to have a valid cc on file with the auction company. My guess is that if you're the top bidder at the time the auction closes and the sale has met the reserve they charge your cc the commission. If you fail to follow through with the seller the seller is out their money and the auction seller's fee is returned. The buyer is going to have a tough time convincing their cc company that the charge is bogus and the auction company would appeal your claim anyway. I doubt the cc company will reverse the charge because you failed to complete the agreement.

10/27/2210:07 AM

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