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Why do some auctions require a deposit prior to bidding?

April 26, 2017auctions bidding deposit prior require

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Why do some auctions require a deposit prior to bidding?

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Rowell Auctions in coordination with our Sellers/Owners determine prior to the opening of bidding if deposits will be required. If an deposit is required prior to bidding the deposit amount will be advertised. If you are not the successful bidder, deposits will be refunded following the auction.