In order to bid on high value items, we ask for a one time $250 bid deposit. The deposit is actually a hold placed on your credit or debit card as a guarantee.
Unlike a charge, a hold authorizes us to confirm your card is valid and that you are serious about securing this piece. The hold will not appear as a charge on your credit card statement and will show up as a "pending charge" on your debit card.
If you win the auction, the $250 deposit will be your upfront payment, and you will receive a payment link for the remaining balance.
As soon as the auction is over, HiBeam will instruct your credit or debit card issuer to remove the hold. Each bank, however, has their own policy. For some banks, you can see the hold released immediately, while for others only after a few business days. Please contact your financial institution to find out how long will it take for them to release the hold.
If you win the auction, but payment for the remaining balance is not provided within the allowed payment period, the sale will be canceled due to non-payment. Your guarantee will be refunded minus the invoiced auction fee of 10.9%.