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Dear Allbids User,
Please note that there's an update to our website relating to obligations of bidders to nominate a credit card to start bidding on CARBIDS.
In line with the Australian auction standard practices,
before you start bidding you will need to nominate a credit card to be used for the final bid deposit
as well as the initial $500 deposit.
Final Bid Deposit - Processed as soon as the auction is won
Final bid of $1000 and under
As soon as the auction is won, your nominated credit card will be charged the full amount outstanding, minus the deposit initially paid. i.e
if you win a car for $800 and there’s a 12.5% buyer’s premium applicable:
Your full amount outstanding will be $900.
Your initial deposit payment was $500, so therefore:
Your nominated card will be charged ($900 - $500) = $400 as soon as the auction is won.
Final bid between $1001 - $50,000
As soon as the auction is won, your nominated credit card will be charged $500 and you will have to pay the remaining balance within 72 hours of auction closing.
Final bid of $50,001 and above
As soon as the auction is won, your nominated credit card will be charged $1000 and you will have to pay the remaining balance within 72 hours of auction closing.
Please note updates to our T&Cs relating to obligations of bidders to complete purchase and pick up of goods within 72 hours of auction closure.
ALLBIDS will be enforcing the 3 day period for payment and collection of all items won by Auction. When you are making a bid it is a legally binding contract – please do not bid on an item if you are unable to have it paid and collected within 72 hours OR within the specific date/time specified for that particular auction.
This update and enforcement is so that ALLBIDS can provide an improved Auction service to both our vendors and buyers. The burden of storing goods for longer than the 72 hour period has hindered the operation in recent months and prevented us from accepting a number of Auction lots from vendors and offering them to our valued buyer database.
In general this is a generous period of time within the Auction industry to complete the purchase noting that title of the goods is not complete until the item leaves the ALLBIDS premises.
4. Obligations As A Bidder
4.1 - When you use the Service and bid on an item during an online auction conducted on our Site, you are making an offer to buy the item at your bid price.
If your bid price is the Winner's Bid Amount, you will be the Winning Bidder and are obliged to purchase the item you have bid for and pay the Winner's Bid Amount, plus any additional charges that you may be obliged to pay.
REMEMBER: When you make a bid you are entering into a legally binding contract. Please do not bid on an item if you are unable to pay for it and have it collected within 72 hours OR within the specific date/time specified for that particular auction.
5. Obligation To Pay
5.1 - If you are the Winning Bidder on an online auction, you must pay the following fees within 72 hours OR within the specific date/time specified for that particular auction after making the Winning Bid:
5.1.1 - The Winning Bid Amount;
5.1.2 - The Buyer's Premium;
5.1.3 - Any Delivery Fees agreed to;
5.1.4 - Any Storage Fees per lot per day should items not be collected within the specified collection period.
5.2 - Title of Goods does not pass to the successful bidder until full payment is made and the goods are removed from the ALLBIDS premises.
Should you require any assistance, please email firstname.lastname@example.org or call 02 6239 2262