E-Commerce & Online Sales

Estate Sale Auction Bidding Terms Howto Whereto Terms and Bidding

TERMS TO BE UNDERSTOOD

Absentee Bidding/Left Bids

If you are unable to attend an auction, you may leave an absentee bid. This is a confidential, maximum price for the lot or lots in which you are interested. It is executed by the auctioneer, on your behalf, in competition with the auction audience. In the event that your absentee bid is the winning bid for an item, you will be notified within a day of the auction.

Buyer’s Premium

The buyer’s premium is a charge paid by the buyer at auction, usually in the form of a percentage of the winning bid or sold price of the lot.  The buyer’s premium may vary from auction to auction, and may include a discount for cash payment.  The premium is paid at the time of purchase of the items

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