Talking about bidding on auctions. Is there an entry fee? How does the organizing body know that you have the money that you are bidding for? What happens when you win and you don’t have the money? Are there laws preventing such?
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Depending on the particulars, the auctioneer might demand proof of funds. [Here’s what that looks like](https://rmsothebys.com/media/177407/2020-us-proof-of-funds.pdf) for Sotheby’s classic car division.
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