DECCAN RESERVE
The House · Deposit & Refund Terms

Deposit & Refund

Why the House asks bidders for a deposit, how it is held, and how and when it comes back to you.

Version
2026-09
Issued by
Deccan Reserve, Banjara Hills, Hyderabad, Telangana
Draft — to be reviewed by the House’s legal counsel before launch. Details still to be confirmed are marked as such in the text.

Why a deposit

Sellers consign to the House because every bid on the book is serious. A refundable deposit from each bidder is part of how the House keeps it that way.

At present the House asks each member for a deposit of ₹2 L before their first bid. The House may change the amount for future deposits; a deposit already held is not affected.

Paying your deposit

  • Online. By card, UPI or netbanking through Razorpay, the House’s payment provider. Your card or bank details go to Razorpay, not to the House.
  • By bank transfer. By NEFT or RTGS to the House’s account, quoting your paddle number. The Registrar records it once the money arrives, usually within a working day.
  • You will receive an email when the House has your deposit. From then on it is shown in your credentials.

How it is held

The House holds your deposit for as long as you wish to bid. It is not a payment towards any lot and is not applied to a purchase unless you and the House agree in writing. The House does not pay interest on deposits. To be confirmed

Getting it back

  • Ask the Registrar at any time. You do not have to give a reason.
  • The House returns it once you lead no lot that is still open or awaiting its seller’s decision, because your deposit stands behind those bids. Until then, a refund is refused.
  • After a refund you cannot bid again until you place a new deposit.
  • Online deposits go back to the card, UPI account or bank account you paid from, through Razorpay. How long it takes to reach you depends on your bank and the payment provider.
  • Bank-transfer deposits go back to the account they came from. To be confirmed
  • You will receive an email when the refund is made.
  • The House deducts no charge from a refund. To be confirmed

If you win and do not complete

If you win a lot and do not pay for it as the Terms of Sale require, the House will not return your deposit while the matter is open. Whether, and how much of, the deposit may then be kept towards the seller’s or the House’s losses has still to be settled by the House’s counsel, and will be stated here before launch. To be confirmed

Leaving the House

If your membership ends, for whatever reason, your deposit is returned on the same terms: once you lead no open lot and nothing is owed under a sale you have won.