In some cases, when registering for an auction, you may be required to set what is known as an expense credit. This is mainly used for auctions in the numismatics section.

• An expense credit is the maximum amount of money that a user can allocate for a specific auction.
• The established credit value is accepted by the organizer along with the registration for the auction, and it cannot be exceeded.
• The expense credit applies cumulatively for the entire auction and acts as a limit for the limits you set, offers you place, and live bids you make in person.
• The initial credit value is reduced by the amount of each individual win.
• The established offers (bid now) and limits cause a portion of the credit to be ‘frozen’ until the auction for the given lot is concluded. This means that for all previously bid lots, the credit will be lower by the value of the offers and limits set for lots further down in the bidding order.
• Once the credit value is reached, the user will not be able to place further bids during the given auction. Bidding automation will stop even if the set limit or offer has not yet been reached, and live, in-person bidding will be impossible.

When registering for an auction, we recommend entering an expense credit with a buffer of at least 20-30% to avoid situations where bids placed on future lots reduce the expense credit currently available for live bidding.

In some cases, it is possible to increase your expense credit. You can find more information about this in the section How to increase your expense credit?