When you arrive at the auction
site you may need to register with the auctioneers in order
to obtain a bidding number, the information required is usually
your name and address and you may also need to pay a returnable deposit.
You should be familiar with the registration requirements for the
particular auction before you arrive in case a large deposit
is required.
If you have not viewed the lots for auction prior to the auction day
you will need to allow yourself time to inspect your prospective
purchases before the auction starts if this is allowed, some auctions
may not allow you to view the lots other than in the specified viewing
dates and times, with some "catalogue" auctions you
may not be allowed to view the lots after the auction has started.
You should confirm these details with the auctioneers prior to the
auction date.
When a lot you are interested in bidding on comes up for sale the
auctioneer will announce the lot number ( either found in the
catalogue next to the item or placed on the item during the viewing
period ) and give a brief description of the item usually tied to
the description given in the catalogue.
A starting bid will be suggested by the auctioneer and usually
bidding will start below this price so do not assume the auctioneers
starting bid is the lowest price available. If the item has a reserve
price the auctioneer will often start the bidding above this price
and reduce the start bid towards the reserve price until a bid is
made. The auction catalogue will usually display a guide price for
the item which is above the items reserve price.
You are free to start bidding at any time after the auctioneer has
announced the starting bid. Some auctions especially liquidations,
bankruptcies and receiverships have no reserve prices so give it a
little time before you start your bidding, if there are no other bidders
your first bid may be the price you pay.
If similar lots are listed together in the catalogue and you are the
buyer of the first lot you may then have the option to purchase
the similar lots at the same price as the first.
When bidding it is usual to get the auctioneers attention by raising
your hand or making some other clear gesture to the auctioneer
followed by the amount you wish to bid if different to the auctioneers
announced price. Now you have started bidding the auctioneer will
return to you every time the bid is against you to see if you wish
to raise your offer, a clear shake of the head will indicate to the
auctioneer that you do not wish to continue bidding.
Bids go up in steps controlled by
the auctioneer and until the bid nears the assumed final price a bid
of less than this amount will not usually be taken.
If your bid is the final bid and the price reached is above
the items reserve price you have been successful in your purchase.
After you have won the bid you will have to pay an immediate deposit,
the amount of deposit will be stated in the terms and conditions of
the auction catalogue. The type of payment method i.e. cash, bank
drafts, credit cards will be stipulated in the catalogue.
The amount of time given to pay fully for the purchase and
clear the goods from the auction house will also be given in the catalogue.
Remember it is usual for the goods
to be the responsibility of the purchaser after the hammer has fallen
If the items for auction are large,
heavy or difficult to move, representatives of removal companies will
usually be present, but this is worth checking with the auctioneers
before you make your purchase. |
