All bids are verified by a credit card hold to ensure commitment of potential buyers. When a bid is placed, we place a hold on the credit card on file up to $5,000. When the auction closes, the hold is released for all bidders who didn’t win the vehicle.
Sniping protection extends the auction clock by two minutes each time a bid is placed in the auction’s final moments. The auction isn’t over until two full minutes have elapsed since the highest bid was placed.
If the auction reserve is met when the listing ends (or the auction is no reserve), Pocket provides the seller and winning bidder with each others’ contact information inside the Pocket platform.
Sellers pay a $100 listing fee for our white glove concierge listing service. There are no other seller fees on Pocket.
Buyers pay a 5% fee on top of the final sale price to Pocket, with a minimum of $250, and capped at $5,000.