You must submit and maintain a security deposit of at least $30,000 JMD, which allows you to bid up to $500,000 JMD. Your initial Security Deposit is required before you are able to bid on any vehicle.
The minimum Security Deposit allows you to bid on a maximum of two vehicles at any given time. If you wish to bid on more than two vehicles at any given time, you must submit an additional Security Deposit of at least $30,000 JMD.
If you wish to place a bid in an amount higher than $500,000 JMD, you must increase your Security Deposit via your (My Account page). But keep in mind that you may not be able to increase your Security Deposit during an auction if the bids exceed your limit, so remember to add a high enough Security Deposit before the auction begins.
Please visit (FAQ page for Security Deposit & Member Fee Chart).You cannot use your Security Deposit to pay for any vehicle (or any portion thereof), but we may (in our sole discretion) use your Security Deposit to pay for unpaid fees.
We will release/refund your Security Deposit upon your request if:
– You do not have an unpaid account balance; – You do not have any pending bids or transactions; and – You are not in violation of our (Member Terms and Conditions). Security Deposit release/refund requests must be submitted via your (My Account page) and a confirmation number must be obtained. Once your Security Deposit is released/refunded, you will no longer be able to bid on vehicles.Our greatest asset is the reputation we have built over the years in terms of reliability, integrity, transparency, trust, and excellence in the auctioning services
