How to Bid at an Auction

Before you begin to bid for any item, you need to set yourself a price limit. Pay particular attention to the condition of the piece and take into account the potential cost of any restoration, before deciding on your bidding limit. Bear in mind that you will need to pay additional charges on top of the 'hammer price' (the selling price). A buyer's premium is added to the final price of every lot, and tax is added on top of this. The rate of buyer's premium varies, but is usually between 8% and 20%, depending on the selling price. VAT is also charged on this premium, and in some cases, on the hammer price as well. (See Charges).

When your lot comes up, the auctioneer will invite bids and call them out in regular increments as buyers respond. These increments will depend on the price that has been reached. (See Bid Increments for more details).

If you want to bid, raise your paddle and wait for the auctioneer to acknowledge you. If in the unlikely event he doesn't spot you, simply call your bid by saying the figure, or say "here" or "bidding". If anyone else wishes to acquire the lot, they will bid against you by the same means. Once the auctioneer has taken your first bid, he will return to you as other bids are placed; you can continue bidding by nodding your head or raising your paddle. However, if the bidding has gone higher than you want to pay, indicate to the auctioneer that you have dropped out by a clear shake of the head.

The auctioneer will continue taking higher bids from each interested party until all but one person drops out. At this point the auctioneer announces that the lot is sold by knocking down his gavel on the rostrum and calling out the hammer price and the buyer's paddle number. These details are recorded, and the bidding moves on to the next lot.

If an object fails to reach the minimum price the seller is prepared to accept (the reserve), it remains unsold. The auctioneer will indicate this by saying "Pass" and moving on to the next lot.

When bidding, do bear in mind that it's easy to get carried away, so remember your maximum bid and stick to it. All bids are final, and by bidding, you are entering into a legally binding transaction.