How TO BID IN ONLINE AUCTIONS
WHAT IS A LIVE AUCTION
An auction is a collection of items that have been provided to an auction house by individual sellers. Bidders can place bids on those items either in person, or online from the comfort of their home. The item is ultimately sold to the highest bidder — and there’s a good chance you could grab a great deal on an item you’re interested in by bidding in the auction.
A live auction is run by an auctioneer who sets the pace of the sale. Live online auctions are often accompanied by audio or video streams that show the auctioneer accepting bids, so you can follow the pace (and excitement) of the sale right from anywhere in the world. Auctions usually move swiftly, but that can vary dramatically depending on how competitive the bidding becomes on a particular lot. At the time your lot hits the auction block, bidders compete against each other in real-time until the bidding slows. Ultimately, the lot is sold to the highest bidder.
Registered Forster Gallery bidders gain access to all of the aspects of being present at the auction house. If you are bidding online you can take advantage of entering a ‘Maximum Bid’ and allow our system to automatically bid in increments for you against others as they bid, just as if you were in the auction room. Forster Gallery auctions also allow you to set you maximum bids BEFORE the auction starts.
What if you are not available to be online at the time of the LIVE Auction?
If it is inconvenient for you to participate at the time of the LIVE Auction, Forster Gallery allow you to pre-bid. Once you look at the Auction Catalogue and decide which items (lots) to bid on then you can go to the pre-bid auction listing and enter your maximum bid.
ONLINE AUTOMATIC BIDDING
Automatic bidding (or proxy bidding) is the easiest way to bid on an item (or lot). Simply enter the highest price you’re willing to pay for an item, and we’ll do the rest. This is called the maximum bid.
Although many people do like to experience the live auction as it happens, once you set your maximum bid, you can stay ahead of the competition for an item without needing to be on the Forster Gallery Auction website during the live auction. So, how does a maximum bid and ‘Automatic Bidding’ work?
Setting your automatic ‘maximum bid’
When you’re ready to bid on an auction listing, enter the maximum amount you’d like to pay for the item and select ‘Submit Bid’. We’ll then bid in increments on your behalf – enough to keep you in the lead, but only up to your limit.
We’ll let you know if someone outbids you and you can decide if you want to increase your maximum bid.
Just like you sent someone to the auction on your behalf to bid for you up to your maximum bid.
Keep in mind when you’re deciding on the maximum bid amount, that you’ll need to pay a buyers’ premium of 15% +3%VAT, and a small surcharge if you pay with a card, on top of the hammer price and any shipping costs.
Bidding on items can be exciting, but it is a contractual obligation. When you’re deciding on your maximum bid, be sure you’re happy to pay that amount if you win the auction.
Why you’ve been outbid immediately
If you get outbid immediately after placing a bid, it’s likely another bidder is using automatic bidding, and has a maximum limit that’s higher than yours. You’ll need to increase your maximum limit in order to be the highest bidder. Just enter a new maximum bid.
When someone else places a bid, which is lower than the maximum bid, we’ll place a slightly higher bid on your behalf. The amount the bid increases by is known as a bid increment. Bid increments are smaller when the bid price is low, and larger in higher price brackets.
All credit and debit cards are subject to a 3% surcharge on the total invoice price.
Current price Bid increment
US$0 – US$499 US$10
US$500– US$999 US$50
US$1,000 – US$9,999 US$100
US$10,000 and up US$500
Occasionally you’ll see bids increase by less. This is because someone else placed a bid just slightly higher than your automatic bid amount.
TRY TEST BIDDING
WHEN YOU WIN
After you win and pay for your item, the auction house will help you navigate the shipping process.
The simplest method is to receive your shipment directly or, if you are local, to arrange an in-person pick-up.
However, these options are not always possible, so be sure to make an informed bid. Review the terms and conditions for the sale and contact us directly if you have any questions about shipping before placing your bid.