If you win an auction, how soon do you need to pay for it?

Anyone who wins an item in a live auction must generally pay for the item before being allowed to take possession of the item, explains Raleigh Auction & Estate Sales. Once the successful bidder pays for his item, he receives a receipt he must show to pick up the item.

On online auction sites such as eBay, bidders typically have two days to make payment electronically for any items they win at auction, according to eBay's website. If a buyer fails to pay on time, a seller can ask eBay to resolve the dispute. If the buyer still refuses to pay or come to a settlement with the seller, eBay may restrict or remove the buyer's privileges.