Q:

If you win an auction, how soon do you need to pay for it?

A:

Quick Answer

Anyone who wins an item in a live auction must generally pay for the item before being allowed to take possession of the item, explains Raleigh Auction & Estate Sales. Once the successful bidder pays for his item, he receives a receipt he must show to pick up the item.

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Full Answer

On online auction sites such as eBay, bidders typically have two days to make payment electronically for any items they win at auction, according to eBay's website. If a buyer fails to pay on time, a seller can ask eBay to resolve the dispute. If the buyer still refuses to pay or come to a settlement with the seller, eBay may restrict or remove the buyer's privileges.

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