Bidding for beginners
If you’ve never attended a live auction, you needn’t worry: scratching your nose or yawning at the wrong time isn’t going to make you high bidder on an item you didn’t want. Buying items at Blackwell Auctions isn’t complicated or scary, but there are a few things you should know going in.
1. There’s a buyer’s premium of 17% for in-house bids
In addition to whatever the high bid is on an item, the auction house collects 17% more. For example, if you are the high bidder on three items totaling $300, you would pay Blackwell Auctions $351 ($300 plus the 17% premium), as well as applicable sales tax. This fee is an industry standard; some auction houses charge a lower premium, while some of the larger houses charge 25%.
2. You can bid even if you can’t make it to the auction
Blackwell Auctions accepts absentee or phone bidding, as well as bidding through multiple online venues. An absentee bid (also known as a “left bid”) is when a bidder who is unable to attend leaves the maximum amount they are willing to bid on an item, and the auctioneer bids on their behalf; in general, the opening bid will be half of the absentee bid amount. If a bidder would prefer to be actively involved, Blackwell may call them on the phone a few lots ahead of the lot they want, and the phone clerk bids on their behalf. For a phone bid, the bidder agrees to open the bidding at $100 or the starting bid, whichever is greater. Blackwell also offers real-time online bidding through several venues and a mobile app for iPhone and Android.
3. As is, where is
Items sold at auction are almost always sold as is, which means it is the buyer’s responsibility to examine each piece for any imperfections or flaws. That said, Blackwell Auctions will make every effort to make bidders aware of exactly what they’re buying before they bid. We don’t like unpleasant surprises, and we will never knowingly misrepresent an item as something it’s not.
4. There are no stupid questions
If you’re not sure about the process, anywhere from start to finish, please ask an auction staff person for help. We’re here to walk you through and make your experience at Blackwell Auctions a pleasant one.