Complaint regarding Auction Collection
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FAQ
The National Association of Valuers and Auctioneers (NAVA) is a professional self-regulating body solely concerned with valuers and auctioneers. Their website contains comprehensive information for buying or selling at auction, looking for a valuer or need some guidance on auction terminology.
Should a successful bidder choose not to pay, an auctioneer has every legal right to seek payment for purchased items, including canceling the sale and reoffering the property without reserve. Typically a defaulted lot is either reoffered or returned to the consignor, but can be tainted to the marketplace.
In many cases yes. Buyers who have placed a bid can retract their bid any time before the auctioneer announces the sale has been completed. It's important to note, however, that the withdrawal of one bid does not revive any previous bid.
What happens if I dont pay fof an item I won? You'll have violated the user agreement you signed agreeing to pay for any item you win or purchase. You'll likely receive an unpaid item strike on your account. You'll have cost the seller time and money he cannot recoup because you didn't fulfill your contract.
If the winning bidder would like to back out after the close of the auction, you can offer the item to the next highest bidder, or close the item as Not Sold.If they refuse the item you can offer the item to the next bidder in the list, and so on.
Before the highest bid is accepted, a seller can withdraw the property from the auction. The auctioneer can withdraw property from the auction sale before the dropping of the gavel. Additionally, if the bidding is too low, an auctioneer need not sell property.
