How to Buy at Bonhams & Goodman

There are a few important things to know about buying at auction before you begin. You should also read the Buyer's Guide located in the catalogue for sale-specific information.

Our auctions are free and open to the general public. Watching an auction live from one of our galleries is a great way to become familiar with the auction process. We invite to you attend one of our upcoming auctions. If you have any questions about the auction process, please feel free to ask one of our staff members for guidance.

Before the Sale

Specialists

Here at Bonhams & Goodman, the greatest resource for information about the quality and character of property is also yours: our team of specialists. Our specialists, many of whom possess the highest degree in their respective fields, appraise, catalogue and sell thousands of objects in any given year. This experience provides the foundation to determine appropriate auction estimates, venue and timing for the sale of any particular object. Specialists know the current market, and they can guide you through the quantity of objects that we offer to help you decide on which objects to bid. Many of our specialists are members of appraisal organizations and they adhere to industry-wide standards for cataloguing and appraisals.

Catalogues

Before each auction we publish illustrated catalogues. Our catalogues provide descriptions and estimated values for each lot. A lot may refer to a single item or to a group of items auctioned together. The catalogues also include the dates and the times for the previews and auctions. We offer our catalogues by subscription or by single copy. For information on subscribing to our catalogues, please visit our catalogue subscriptions page.

Online versions of our catalogues are available on our website generally three to four weeks prior to the auction. You may purchase a catalogue before each auction or sign up for a one-year subscription and have a copy automatically delivered along with the prices realized from the last sale. You may also sign up to be on our mailing list, and we will provide you with exclusive information on your select areas of collecting via email and alert you when the catalogue is placed online.

For our traditional auctions, we create beautiful archive-quality catalogues that provide images and full descriptions for each lot. These illustrated print catalogues are prepared for every Fine Sale, and are mailed to hundreds, and in some cases thousands, of past and potential buyers with a history of collecting in the relevant categories. These catalogues are scholarly and beautifully illustrated, and many experience a second life as important art-world reference tools. Descriptions in our fine catalogues include information about provenance, size, condition, the artist or specific work if available, and value estimates.

The estimates in the catalogues are provided as an approximate guide to current market value, and should not be interpreted as a representation or prediction of actual selling prices. This estimate, expressed in a low/high range of dollar amounts, is reached after the specialist compares prices realized for similar items in recent auctions and other sales venues. Other factors that guide the setting of estimates include the condition, rarity, provenance and market potential of the item. They are determined well in advance of a sale and are subject to revision. Please contact us should you have any questions about value estimates.

Some lots in a catalogue are subject to a "reserve", unless otherwise indicated. The reserve is the minimum price that the seller is willing to accept for a lot. This amount is confidential and does not exceed the low estimate.

Previews

Auction previews are your chance to inspect each lot prior to the auction. We encourage you to look closely and examine each object on which you may want to bid so that you will know as much as possible about it. Except as expressly set forth in the Conditions of Sale, items are sold "as is" and with all faults; illustrations in our catalogues, website and other materials are provided for identification only. At the previews, our staff are available to answer your questions and guide you through the auction process. Condition reports for Fine Sale property may be available upon request.

The Sale and Bidding

At Bonhams & Goodman, you can bid in many ways: in person, via absentee bid, or over the phone. Absentee bids can be submitted in person, online, via fax or email.

Valid client accounts are required to participate in bidding activity. You can obtain registration information online, or by calling our Bids office. By bidding at auction, whether in person or by agent, by absentee bid, telephone or other means, the buyer or bidder agrees to be bound by the Conditions of Sale.

We assume no responsibility for failure to execute bids for any reason whatsoever. Please see the Conditions of Sale for more information.

Bidding in Person

Our auctions are free and open to the general public. If you would like to bid, you will be asked to fill out a registration form (details including name, photo ID & address will be collected) and you will be given a bidder paddle. If you are planning to bid at auction for the first time, you will need to provide bank or credit card information to register for our auctions.

To place a bid, hold up your card so that the auctioneer can clearly see it. Decide on the maximum amount that you wish to pay, exclusive of buyer's premium and GST, and continue bidding until your bid prevails or you reach your limit. If you are the successful bidder on a lot, the auctioneer will acknowledge your paddle number and bid amount.

Absentee Bidding

As a service to those wishing to place bids we may at our discretion accept bids without charge in advance of sale by telephone, by facsimile or in writing on bidding forms available from us. All bids must state the highest bid price the bidder is willing to pay. Our auction staff will try to bid just as you would, with the goal of obtaining the item at the lowest bid price possible. In the event identical bids are submitted, the earliest bid submitted will take precedence. Absentee bids shall be executed in competition with other absentee bids, any applicable reserve, and bids from other auction participants. A friend or agent may place bids on your behalf, provided that we have received your written authorisation prior to the sale. Absentee bid forms are available in your catalogue, you may download and print a version of absentee bidder form to place an absentee bid online or pick up a form from our gallery in Double Bay.

Please send the completed form to:
Bonhams & Goodman Auctioneers
Attn: Bids Office
7 Anderson Street
Double Bay NSW 2028
+61 (0) 2 9327 2917 fax

Phone Bidding

Phone bidding is available on certain lots. A Bonhams & Goodman employee will call you from the auction room several minutes before the item you are interested in goes on the block. The representative will talk you through the auction and ask you when and at what increments you would like to bid. Because we must schedule employees to be available in the auction to phone bid with you, please register at least 24 hours in advance of the auction. We also ask that you be willing to bid up to the low estimate of an item for a phone bid. Register for phone bidding by contacting our Bids Office at +61 (0) 2 9327 9900. We do not accept phone bids for lots with a low estimate of less than $1000 and may not accept any bids on the day of the sale.

Buyers' Premium

Bonhams & Goodman does not own the property that we sell at auction; instead we host an auction as a venue to bring buyers and sellers together. Our sellers are called consignors and we take possession of their property several months before the auction. We use this time to research, catalogue, photograph and market the items before they go to auction. When an object is sold, Bonhams & Goodman receives a percentage of the hammer price, that we call seller's commission, plus certain fees as our payment from the consignor for our services.

We also collect a percentage of the hammer price from the buyer that we call Buyer's Premium. A buyer's premium is added to the winning bid price (hammer) of each individual lot purchased, at the rates set forth in the Conditions of Sale. The winning bid price plus the premium constitute the purchase price for the lot. Applicable sales taxes are computed based on this figure, and the total becomes your final purchase price.

All sales are final and subject to the Conditions of Sale found in your catalog, on our website, and available at the reception desk.

Our Buyer's Premium rates for most types of auctions are as follows:
20% of the Hammer (plus GST)

Our Buyer's Premium rates for Motor Cars, Boats, Motor Cycle auctions are:
13% of the Hammer

Items left on the premises after the auction may incur storage and other fees. Please see the individual sale catalogue for additional information specific to the sale.

Post Sale Payment

All buyers are asked to pay and pick up by 4pm two days following the auction. Payment may be made to Bonhams & Goodman by cash, cheques with approved credit, bank cheque or money order, wire transfer or other immediate bank transfer, or Visa or MasterCard credit (American Express and Diners Club cards not accepted) or debit cards. Items must be paid for within 5 business days of the sale or as otherwise stated in the sale catalogue. Please note that payment made by personal or business check may result in property not being released until purchase funds clear our bank.