How to Place Your Bid

Ways to Bid: In Person, Online, or by Phone

At Michael Stephen Auctions you have many ways to place a bid. Some of these are as follows:

Live Auction Saleroom

For a live auction in the auction saleroom you can bid in person, online, by absentee bid, or by phone (phone is reserved for those lots that that the auctioneer determines). An absentee bid allows you to set a maximum bid on a lot. For buyers unable to participate live in the saleroom, online, or on the telephone, you have the option of leaving an absentee bid. Absentee bids work exactly as if the bidder were in the saleroom bidding up to a pre-determined price limit, except that the price limit is confidentially given to Michael Stephen Auctions (other bidders do not know this amount). Our auctioneer will bid on your behalf alternately against other bidders until the bidding ends. In the event that the other bidders drop out before reaching the full amount of your bid, you will purchase the lot at the next increment.

Clients unable to attend the sale in person may still participate in a live auction by placing a bid ahead of time, or during the auction online, or on the telephone with a MSA staff member (telephone bidding is reserved for those lots that the auctioneer determines). Online bidding also allows you to place a maximum bid. Overseas bidders and clients bidding from a cell phone may be asked to leave a safety bid which will function as an absentee bid should the call fail. MSA will call you when the lot is approaching auction.

Once the sale begins, the auctioneer will announce each lot in numerical order as listed in the catalog and then open the bidding. Bidding progresses in sequentially higher increments. To place a bid, simply raise your paddle for the auctioneer to recognize your bid. If no one tops your bid (either online, phone, absentee, of other bidders in the room), the auctioneer will state that the item is sold, then announce the hammer price and your paddle number.

Online Only Auction

For an online only auction you can place a bid as the auction is ongoing or prior to the start of the auction. You can place a maximum bid (known as a proxy bid), you can place an absentee bid, or you can place an online bid in advance or during the auction at the next bidding increment for the auction taking place. Telephone bidding is reserved for those lots that the auctioneer determines. Before you finalize your bid, you will see the primary costs associated with that lot, including the buyer’s premium and sales taxes. Shipping costs and any customs or import fees are not included. However, we can assist you with shipping if you are unable to pick up your items.

Timed Online Only Auction

A timed online only auction is a timed event as compared to a live auction or an online only auction, which means that the lots being sold will begin to close at predetermined times. Starting with the first lot each subsequent lot will close in 1 minute increments. However, if a bid is placed within 1 minute of its closing time, that lot will be extended for an additional 1 minute. This will not affect the timing of subsequent lot closing times as each lot is independent of the other. Telephone and absentee bidding is not offered for a timed auction. As with an online only auction, before you finalize your bid, you will see the primary costs associated with that lot, including the buyer’s premium and sales taxes. Shipping costs and any customs or import fees are not included. However, we can assist you with shipping if you are unable to pick up your items.

Buyer's Premium

As is common in the auction business, auction houses charge the buyer a fee that is in addition to the bidders bid if they are successful in their bid. This additional fee is known as the buyer’s premium. Each final bid will include a buyer's premium added to the bid price. The buyer's premium is outlined in our terms and conditions of sale for each auction. In addition, when bidding online you will automatically see your total cost which includes your bid price, the buyer's premium, and taxes (if applicable) should you win the lot. When bidding online, this amount will show before you place your bid. The buyer’s premium is applicable for all of our auctions.