"This is a high-end auction." After reading the notice, Pierce gave a slight nod. "Only those larger storage companies would require this kind of deposit when they hold important warehouse auctions."
There are two reasons for Pierce's statement. On the one hand, the party collecting the deposit must have enough credibility to ensure everyone pays this money without worrying about the organizer running off with it. Therefore, the number of organizers who can meet this requirement is limited.
On the other hand, for most warehouse pickers, they can't afford to pay several hundred USD as a deposit given their financial fluidity, so charging a deposit can effectively keep many pickers out of the auction.
Although not having several hundred dollars in liquid assets might sound exaggerated, it is actually the truth. After all, even though Americans are spendthrift, they are not foolish, so only a minority would leave valuable items ignored in the warehouse.
