You are here

Auction terms

Sold
Going once, going twice, Sold! or some such warning phrase used by the auctioneer and then the hammer falls.

Bid
The amount you are willing to pay for a lot.

Bidding number
Each bidder is assigned a personal bidding number.

Buyer’s Premium
Percentage costs to be paid over and above the hammer price.

Guarantee
We guarantee the quality and authenticity of single lots as described in the catalogue. If, however, any item sold should be considered by a recognized authority to be a forgery or if the quality has been incorrectly described in the catalogue, the purchaser is at liberty to return the lot against repayment of the full amount paid, provided the lot is returned within 14 days after the sale.

Hammer price
Final bid price announced when the auctioneer’s hammer falls.

Lot
The number and description of an item or items offered for sale as one group.

Viewing days
Days prior to an auction when you can view the lots coming up for sale.

Written bid
Written instruction permitting us to bid on your behalf.

Table money
A fixed amount per lot bought/sold.

Estimate/valuation
A reasonable estimate of the price expected at auction. This can also be used for insurance purposes and to indicate replacement value.

Insurance value
The amount for which we have insured your property.