How Do you - Check the Auctioneer's Terms


  1. Reserve Price
    This is the price that the seller has set as the least amount that he or she will accept for the goods for sale. If the goods do not reach the reserve price when up on auction then they are “passed in”. If they are passed in the auctioneer will advise you of the highest bid and you can then negotiate with the seller to see if you can agree on a mutually acceptable price.

  2. Valuation of Goods
    If the goods are unique or different from the norm then it may be a good idea to obtain an independent valuation in order to establish a reasonable reserve price. The auction people may not want to sell your goods if they feel that the reserve price is too high. Naturally they don’t want to waste their time in putting it up for offer and receiving no interest.

  3. Speciality Auctions
    If you are selling your goods it is a good idea to be clear on the type of auction that would best suit what you are selling. Ask for advice from the auction house because you don’t want to waste your time auctioneering your product to the wrong type of buyers.


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