Some agencies within Public Surplus use bid deposits to ensure that only serious bidders participate in certain high-priced auctions.  Bid deposits only affect the winner of the auction if they fail to pay for the item in a timely manner.  The amount of the deposit varies between auctions, however it is usually a fraction of the actual cost of the item. 

When an auction specifies that a bid deposit May Apply, it means that when bidding reaches a certain point (around $500.00) a bid deposit will be required. Before bidding reaches $500.00, bid deposits will not be required.

Bid deposits work the same as if you were renting an expensive tool at a hardware store or tool rental place:

1. You provide your credit card information.
2. The merchant verifies you have sufficient funds.
3. The merchant gets an authorization number that can be used to charge your card in case of problems.
4. The merchant does not store or retain your credit card data, only the authorization number. The authorization number is only valid for 30 days.
5. If there are no problems, your credit is never charged the amount.

Please read carefully the Terms and Conditions document and/or auction disclaimer for the auction in question.  Most of our agencies have a policy that if payment is not received within a few business days, typically 5-10, your are considered a default bidder.  If you default, you will lose your bid deposit amount.

It is very important that you keep your contact information up-to-date so that the agency may contact you. The information on Public Surplus is the only available data for the agency to contact you. To update your contact information please go to "My Stuff" and click on "Profile". Your privacy is important to us and we will never divulge your information to any third parties.