How do I bid?

After you have created your account you will be able to bid by selecting Auctions on our Home page, and from here selecting View Lots & Place Bids.  In order to bid you must be signed into your account.

Do you allow any pre-bidding before an auction starts?

All of our auctions allow you to pre-bid before the auction starts.

What types of bids can I place?

You are able to place an opening bid, next bid, or a maximum bid.  Once placed, these bids are publicly visible on the bidding page, however, a maximum bid amount is not revealed to other bidders.  However, if a maximum bid is less than the reserve price the full amount of the maximum bid will go through. A maximum bid automatically responds to other competing bids but other bidders do not know the amount of your maximum bid.

What is the meaning of "Reserve"?

All of our lots have a minimum price that the seller has agreed to accept.  This is known as the reserve price. This price is not made public but when the price has been met through competitive bidding the bidding page will show “Reserve Met”.

Can I place an absentee bid?

Absentee bids can be placed for Online Only auctions and Live/Online auctions.  They cannot be placed on an Online Timed auction. You are able to place an absentee bid through your online portal account up until two hours prior to the start of an auction. Absentee bids are not visible on the bidding page and do not get activated until the auction starts for that particular lot which has an absentee bid.  Once the bidding starts for the lot that has absentee bids those bids will get activated by the auctioneer in response to other competing bids or absentee bids.

Can I change my absentee bid?

You can increase, decrease, or cancel your absentee bid through your online portal account up until two hours prior to the auction starting.  If there are less than 2 hours to the start of the auction and you want to increase your bid, go to the Auction page and you will be able to increase your bid (if there are less than 2 hours you will not be able to cancel or decrease your absentee bid), provided that the current bid is equal to or greater than your absentee bid. By doing this your absentee bid will be replaced with a market bid. 

What if my absentee bid is outbid by another bidder?

Once the auction starts for the lot in which you have an absentee bid and if you get outbid you can place a next or maximum bid.

Can I cancel a bid?

Once you place a bid it cannot be cancelled.  By placing a bid you are entering into a legally binding contract.

Can I increase my bid?

You are always able to increase your bid.

What is a buyer's premium?

A buyer’s premium is the fee that is charged to the buyer that is added to the hammer price. Unless otherwise stated for a particular auction or lot the maximum buyer’s premium is 22% and decreases at set intervals.

What are the Conditions of Sale?

The Conditions of Sale outline the responsibilities and obligations of the buyer, the seller, and Michael Stephen Auctions that govern the sale of the item(s) being auctioned.

Do I have to accept the Conditions of Sale in order to bid?

In order to bid you must accept the Conditions of Sale that pertain to that auction or you will not be able to bid.

Can I inspect the items being auctioned prior to bidding?

All of our items are available for viewing at least two days prior to the auction.  Generally, items are not viewable on the day of the auction unless prior arrangements are made.

Do I have to pay sales tax?

We are required to collect 6% sales tax on all items sold unless you have a valid resellers certificate on file before bidding on any item(s).  The sales tax is calculated on the hammer price plus the buyers premium.

What information do you need in order for me to bid on an item and set up an account?

In order to bid you must first create an account. We request your name, address, birthdate, telephone number, email, and charge card information. 

Why do you need my birthdate and credit card information?

This information is used to verify your identity.

How do you protect my credit card information?

We do not store your credit card information on our servers.

Will my account details be given to a third party?

Michael Stephen Auctions does not share your details with third parties unless they need the information in order to complete a transaction on your behalf.

Do you keep my account and bidding activity secure?

We do not share your name or bidding history with other bidders and any information that is transmitted does not contain any personally identifiable information (PII).

When is my credit card charged?

Your credit card is charged a nominal amount of USD 1 and then refunded during the account opening process (this is in order to verify your identity).  Your credit card is also charged a 25% fee if full payment for your lot is not made within 30 days.

What type of auctions do you conduct?

We conduct three different types of auctions, an online timed auction, an online only auction, and a live/online auction.

What are the differences between the types of auctions you conduct?

An online timed auction has a predetermined time when a certain lot will be up for auction, and the auction for that lot will expire after a set amount of time, unless someone makes a bid within the last minute of the time expiring, in which case the auction will be continued for an additional amount of time.

An online only auction does not have any time limitations, and when the lot is up for auction it is the auctioneers discretion to determine when to either announce that the item has sold or is passed.

A live/online auction combines an online auction with a live auction held in the gallery where bidders can bid either online or in the gallery.

Do I have to pay any fees to participate in an auction?

You are not charged any fees to participate in an auction, however, you are responsible for those charges as it relates to you winning a bid on an item, i.e., buyers premium and sales tax.

Do I need to register for each auction?

Once you have completed all of the steps for setting up an account you do not need to register for an auction that you are going to participate in online, however, for a live auction where you will be physically present in our auction saleroom, you are required to register for each auction before being able to bid in the auction saleroom.

What is the Hammer Price?

The hammer price is the winning bid amount before the buyers premium, any sales tax, and before any other charges.

What is the Buyers Premium?

The buyers premium is the fee that is charged to the buyer that is added to the hammer price.

If my item sells when will I receive payment?

You can expect to receive payment from us in approximately 30 days after we have received good funds from the buyer.

What if my item does not sell?

There is no charge if your item does not sell (except for other charges agreed to between you and MSA prior to). 

If my item does not sell what is next?

If your item does not sell and you do not make arrangements to collect within 30 days of the auction ending, or we have not made further selling arrangements there will be a storage charge of $10 per day.  In certain cases we will attempt to sell in a future auction.

How do I collect what I have won?

You have three ways of collecting what you have won:  1) you can make arrangements to visit our gallery and collect your items, 2) you can arrange for us to ship your items to the address we have on file for you by utilizing our preferred shipper (there is a fee for this service which includes the shipping, packing, and insurance for your item), or 3) you can arrange to have your own shipper collect.

I am unable to come to the gallery to collect my item how do I arrange shipping?

After you have won an item you will have the option to have us arrange shipping for you, or you can arrange to have your own shipper take care of the shipping arrangements.  If you have us arrange shipping we will take care of the packing, insurance, and shipping and handling.  An invoice will be generated if you choose to have us handle the shipping.

Can I return something that I have won?

Once you win a bid and have paid for the item you cannot request to return the item.  The exception to this is that the item as described was materially not as represented.  You have three months from the date of payment to make such claim.  Further information is provided in the Conditions of Sale.

What happens when I win a lot?

After you win, an invoice will automatically be sent to you in order for you to make the payment on the lot that you have won.

What methods of payment do you offer?

Payment for items won can be made by wire transfer, ACH payment transfer (US bank accounts only), personal check, charge card, and cash (cash limited to USD 10,000).

Is there a limit as to how much I can charge per lot that I win?

Unfortunately, due to the amount of online fraud, each lot that you win is subject to a charge limit of $1,000.

Will my credit card be charged when I win a bid?

Your credit card will not be charged when you bid.  However, you can use the same credit card you initially used when creating your account so you will not have to re-enter.  If you fail to pay for the item(s) that you have won within 30 days of the invoice date your charge card will be charged a 25% service fee.

Do I have to pay sales tax?

We are required to collect 6% sales tax on all items sold unless you have a valid resellers certificate on file before bidding on any item(s).  The sales tax is calculated on the hammer price plus the buyers premium.

What fees do you charge me when I consign items?

We do not charge for marketing your item(s) whether it sells or does not sell or any other fees, unless we have discussed ahead of time such other fees, i.e., professional appraisal, authentication, restoration, etc.

What will you charge me to sell my item?

If your item sells at auction we will charge a seller’s commission based on the hammer price of the item.  There may be other charges for your sold item (if agreed to between you and MSA prior to).

When will my item be auctioned?

This is based on the type of item you have.  Our goal is to place your item into one of our upcoming auctions where we believe it will get the most exposure with the right timing.

What if my item does not sell?

There is no charge if your item does not sell (except for any other charges agreed to between you and MSA prior to). 

If my item does not sell what is next?

If your item does not sell and you do not make arrangements to collect within 30 days of the auction ending or we have not made further selling arrangements there will be a storage charge of $10 per day.  In certain cases we will attempt to sell in a future auction.