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.
