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Unfortunately, you are still liable for paying for the items purchased since the auction bid is a binding contract between you and the seller. Whether you pay by cash, check, credit card, etc. you are still legally obligated to pay for the items. The fact that they were unable to process a credit card wouldn't get you off the hook for the purchase if you have changed your mind.
Now with that said, if it very unlikely that they will actually take any action legally against you simply because it is too expensive and they run into this problem all the time. But if they have a relationship with a debt collector, and they very well might, then they can turn it over to them and they could report this as a delinquent account on your credit report.
So you might want to check your credit report and then decide whether to settle up or not if they have reported this on your credit..
It all depends on what the stated terms of the auction were. But in every online auction I have ever participated in, and there are many dozens as I bid on foreclosures as well as personal property, the terms say that a bid is a binding contract if you are the high bidder when the auction closes.
There are no terms that say "If we can't accept credit cards, you are off the hook" that I have ever seen and the bidder is still required to tender payment for the items.
So unless this is an incredibly unique auction which would allow you to back out if they can't process a credit card, then unfortunately you are still liable for the purchase, even if you have changed your mind or gotten cold feet about the purchase if it was an impulse buy.
Now that doesn't mean that they will aggressively pursue this...but legally they could if they wanted to.
I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...