Whether a bid reservation is required depends on factors such as your account status, purchase history, bidding activity, behaviour and the type or value of the object you are bidding on. Since all bids on Catawiki are binding, we use bid reservations to help ensure that bids placed on the platform can be completed successfully. You’ll be informed of a bid reservation by a notification that states a credit card is required to place the next bid.
A bid reservation - typically only a small amount - requires you to provide your credit card information so that the reservation can be authorised by your bank. (currently this is only possible via MasterCard, VISA or American Express cards). As a result of the bid reservation, a hold will be placed for the bid amount requested. You can have multiple bid reservations on your card, if you bid on multiple objects at the same time. The total value of active bid reservations on your card will not exceed €1,000 (or the equivalent in your currency).
Please take into consideration that the amount secured for your bid reservation is not withdrawn from your account, it is only subject to a temporary hold on the funds. What happens to the reserved amount depends on the outcome of the auction (whether you win, lose, or fail to complete payment).
Auction won
If you are the winner of the object which you have provided a reservation for, then the hold placed on your credit card will be credited directly towards your open invoice. By going to your payment page, you will be able to pay the remaining balance on your purchase using any of our accepted payment methods.
Auction lost
In the event you have provided a bid reservation but have not won the object being auctioned, the hold placed to reserve your bid amount will be removed, and the funds will be made available once again on your card. The amount of time it takes for your funds to be made available depends on your bank or financial institution.
Payment not provided
If you win an object for which you provided a bid reservation but fail to pay the remaining purchase price within the allowed period, the sale will be cancelled due to non-payment and you’ll be notified. As you won the object, you remain responsible for paying the Buyer Protection fee associated with the transaction. This must be paid before we can process a refund for your bid reservation. In the interim, your account may be blocked for bidding on further objects. After paying the Buyer Protection fee, please contact our Customer Service team to ask for the release of your bid reservation.