China: Deposit and Payment Information
Registration
Registration to bid is free of charge, whether you are bidding in person, online or by proxy. You may be required to pay a refundable bid deposit.
Bid Deposits
Onsite bidders: Unless you have made prior arrangements with Ritchie Bros., you must place a refundable deposit equaling 25% of the total expected purchases or RMB 50,000, whichever is higher.
Online bidders: Unless you have made prior arrangements with Ritchie Bros., you must place a refundable deposit equaling 25% of the total expected purchases or RMB 50,000, whichever is higher.
Bid Deposit Methods
| Wire transfer | Credit card (Visa, MasterCard)* | Bank debit card |
Domestic bidder (at auction site) | ✔ |
| ✔ |
Foreign bidder (at auction site) | ✔ |
|
|
Domestic Online bidder | ✔ |
|
|
Foreign Online bidder | ✔ | ✔ |
|
* Place a bid deposit by credit card or view wire transfer deposit information.
Payment Terms
All domestic payments must be made in China RMB.
Foreign payments may be made in USD, EUR, GBP, JPY, HKD and AUD in an equivalent to your China RMB purchases. Please note, all foreign exchange risk shall be borne by the purchaser.
Each purchased Lot will be subject to a transaction fee of:
(a) 10% on all Lots selling for RMB 60,000 or less,
(b) 3.85% on all Lots selling for over RMB 60,000 up to RMB 200,000, with a minimum fee of RMB 6,000 per Lot or,
(c) RMB 7,700 on all Lots selling for over RMB 200,000.
Lots must be paid in full within seven (7) days of the end of the auction.
NOTE: Purchases cannot be removed from the auction site until paid for in full. This policy will be strictly enforced.
Payment Methods
| Wire transfer* | Bank debit card |
Domestic buyer (at auction site) | ✔ | ✔ |
Foreign buyer (at auction site) | ✔ |
|
Domestic Online bidder | ✔ |
|
Foreign Online bidder | ✔ |
|
* Make a payment by credit card or view wire transfer payment information.