There are three ways to bid: in person, by telephone, or by leaving a written
bid. Bidders who can't attend the auction usually leave telephone or written
bids.
You must register with the auction house if you want to bid. You will be
asked to give personal information, such as your name, address, telephone
number, and possibly your bank account information—especially if big-ticket
items are involved. Once you have registered, you will be given a paddle with
your bidder number.
To protect yourself from paying more than the item is worth, decide in
advance (perhaps during the preview) what your maximum bid will be. It is easy
to get carried away in the excitement—especially if you really have your heart
set on an item.
When bidding in person, don't be timid. Wave your paddle around to get the
auctioneer's attention. Sometimes, things move quickly, and you don't want to
lose out. If the bidding does go above your maximum amount, don't worry,
something else will come along and catch your eye. The hunt for that special
something is just part of the fun. If you are the high bidder, the auctioneer
will ask for your bidder number.
Paying for Your Purchases
The "hammer price" is the amount you bid to win. Many auction houses also
charge a buyer's premium, which is a percentage of the hammer price. You may
also be charged taxes.
During the preview find out what types of payment the auction house accepts
and what the policy is for picking up merchandise. There is usually no delivery,
but sometimes it can be arranged at a cost to you, the buyer.