Make a deposit before participating in the auction equal to 10% of the amount you are willing to pay for the car. This is a mandatory requirement of the Copart and IAAI auction platforms.
If the winning bidder refuses to pay for the won lot, the platform charges a penalty for relisting the vehicle. The total penalty amount is about 10% of the lot’s value — this is exactly the amount we set for the deposit.
Once the deposit is credited to our account, you will be able to place bids. If you win the auction, the funds will be frozen until the car is paid for. If you lose, the deposit will be automatically released. You can use it to bid on another vehicle or request a refund to your bank account through your client panel. Remember, the deposit allows participation in auctions within the limit set for your account.
We do not charge any commission for participating in auctions — the deposit is used only as protection against non-payment and is forfeited if you fail to pay for the winning vehicle.