Registration & Verification
Auction access is limited to verified wholesale buyers. Registration requires a valid business identity, contact details and, at Phones Canada's discretion, additional documentation.
Verification is typically completed within one business day.
How Our Auctions Work
Phones Canada holds the accounts on the carrier, retail, insurance and processor auction platforms. When you bid through us, we place that bid on the source platform on your behalf.
A bid placed on your instruction is a purchase commitment. If the lot is won, we have bought that lot from the auction house for you, and we are obliged to pay for it whether or not you settle your invoice.
Bidding Deposits
A deposit is required before any bid can be placed. This applies to every buyer and every auction, not only to new accounts.
The minimum deposit is $5,000 USD. Your bidding limit is 5x your deposit, so a $5,000 deposit allows up to $25,000 of live bids. The multiplier can be raised or lowered for established accounts at our discretion, based on trading history.
The deposit is security for the purchase commitments we make on your behalf. Once your invoices are paid in full, the deposit is credited against an invoice or returned on request to the original bank account it came from, as set out in our Payment Policy.
Bidding Rules
Bids are binding and cannot be cancelled or retracted once placed. Because the bid is entered on the auction house's own platform, we have no ability to withdraw it.
Lots close at the times published on the auction schedule; winning bids are determined by highest offer at close.
Payment Deadlines
Invoices are due within 2 business days of lot close unless otherwise arranged in writing. Late payments may result in account suspension.
Non-Payment & Forfeiture
Failure to pay for winning bids results in termination of your access to the Phones Canada platform.
In that event the deposit is not returned. It is retained and applied toward restocking and processing costs on the lot we purchased on your behalf, and we reserve the right to recover any remaining shortfall.
Discrepancy Claims
Manifests reflect the tested condition of lots at listing. Discrepancy claims must be submitted within the window described in our Warranty Policy, with supporting documentation.