Auctions have been a source of dispersing of goods for many years. Auctions require only four components: an item to sell, an Auctioneer and two bidders. The Auctioneer brings the item for auction down to a price level worthy for him/her to open the bidding. From there the interested parties take turns raising the bid at an increment suggested by the auctioneer or by one of the bidders. The Bidding continues until one of the bidders feels they have surpassed the price that he/she is willing to pay for the item. When the Auctioneer decrees the item sold, the process starts all over again with the next lot/item. Auctions can be fun, profitable, educational and a very interesting adventure. With our auctions online , you can bid from anywhere in the world. Every Auction House has a different set of rules, some accept cheques and credit cards as payments some do not. Most Houses have a buyers premium which is added to the hammer price, meaning if the Auctioneer knocks down an item for €100 (i.e. the final winning bid is €100), the premium is added to that. All Auction Houses premium varies.
Attending an Auction
If you are attending an Auction as a novice, remember to try and view the Auction prior to the sale day and obtain a catalogue. The catalogue will give you a detailed description of each lot and in most cases an estimate value of same. Then, mark on your catalogue items you may be interested in and ask the Auctioneer any questions you may have regarding these items. Read the terms and conditions of the Auction as each Auction House may have varied terms and conditions.
Register to bid, obtain a bidding number and take a seat.
When the item/lot that you are interested in comes up for auction, prepare to bid and if you are successful , show your bidding number to the Auctioneer. At the end of the auction or when all items you are interested in have been up for auction you will be given your invoice with all your lots/items which you have bought, showing the hammer price and the premium.
Attending the auction
Register for a bidders number and do your own bidding in the room.
Ask the Auctioneer to phone you prior to the lot that you are interested in comes up and then you can instruct a third party on the phone to do your bidding.
Fill in the required form and indicate your final bid on each lot.