Important Auction Tips!
The Buyer's Premium - If you were introduced to auctions through Ebay or have never bid at an auction before, you might not be aware of the buyer's premium. Since the beginning of time auction houses have charged a buyer's premium. The buyer's premium is a percentage added to the total hammer price (the price that the auctioneer repeats after he declares a lot sold). When a bidder wins an item, they pay a hammer price plus the buyer's premium. This will give bidders their total owed to the auction house before they can collect winning lots. Our buyer's premium is always disclosed in our Terms and Conditions of Sale and on many of our marketing materials.
Why do auction houses charge a premium? Auctions are events selling a collection of items that are usually possessions belonging to someone else. The person who owns those items asks the auction house for their resources in selling in the open auction buyer's market. The consignor (or owner of the merchandise being sold) receives the majority of the hammer price that an item sells for and the auction house receives a small percentage or sometimes nothing at all. The auction house needs to collect the buyer's to pay for staffing and all other materials and equipment used to make the event happen. Assembling an auction can take several months of work to come to fruition.
Bidding - Sending us a general email with your bidding information can create delays.There are separate registration forms for each bidding style and we have worked hard to keep it simple for you. It's important that bidders use the appropriate bidding form (online, absentee, phone).
Why? When you use the form we are notified with a specific alert so that we can process your bids quickly and register the bids where you want them to be. When you use the form, we are able to import your information accurately and efficiently.
Send us your phone bids early!!!
Why? Calling us in the middle of the auction with phone bids is like calling the bride on her wedding day asking for directions to the church. Your bids need to be appropriately registered and a specific staff member will be bidding with you on the phone. Registering your phone bids prior to the start of the auction is essential. When you send us your bids late, although we try hard to avoid it, mistakes sometimes happen. We will always try to enter your bids whenever you send them to us. However, it's important to remember that our operations rely on organizing your bids prior to auction. We aren't saying you can't do it, yet getting them in early is best for all of us!