Everything You Need to Know About Buying at Auction
Buying at auction can be an intimidating process for those starting out on their auction experience, so can selling, and we hope to break down the important things to consider so that you have the most enjoyable buying journey possible.
Think of buying as a three-step process - browse, bid & bring home.
Step 1: Browse
Join the Mailing Lis
If you are interested in starting or adding to your vintage, antique, or high-value item collection, the best way to know what you want to buy is to be as informed as possible.
By joining the Gray’s mailing list, you stay updated with our latest auctions, and we share our insights, news and prize finds.
Check Our Website & Social Media
By visiting our website, you have a wealth of information at your fingertips. Here you can search through our auction history, becoming your own detective and getting an eye for what has sold previously, as well as checking our auction schedule for upcoming dates. To get an idea of standard auction terminology, take a look at the blog post ‘auctions for beginners’ here.
Follow us on Facebook here, and follow us on Instagram here.
Download the App
By downloading our award-winning app, you can view all the items in upcoming auctions and be notified when new catalogues go online. Via the app, you can save your favorite items, place bids, and bid live during the auction., On our website we live stream auctions with video and audio, meaning you won’t miss the excitement of a live auction.
Request a Condition Report
If a particular item has caught your eye, and you want more information - let us know! We are happy to provide condition reports on any and all items we have for auction so that you feel confident about your potential purchase.
See the Items in Person
If an item catches your eye, come into the auction house during preview and see the item in person. This will allow you to take a closer look at the item of interest and place a bid. If you choose not to join us during the preview period, you can still view the item online and place your bid via the website or the app.
Register to Bid Beforehand
In order to bid, you must pre-register for each auction. Registration closes an hour before the live auction, so it’s important to register in order to participate. Auction houses will manually approve you to bid, therefore doing so at least one day in advance is recommended.
During the registration process, you will be asked for your credit card and shipping information. This information is kept 100% private and not shared with any other parties.
Credit card information is requested prior to bidding to verify your identity and to ensure that winning bidders pay for the items. Upon bidding, you are entering a contract which states that if your bid wins, you must purchase the item. If you don’t win an item, you will not be charged.
Step 2: Bid
Bid Online via Web or App
Pre-bidding online is available as soon as you have registered for the auction. You can bid online, live, on auction day. You can also watch and listen to the auction by joining the live auction on our website. Download the app for the best mobile experience!
Bid on the Phone
Phone bids are taken until auction day and 48 hours before auction day. The minimum telephone bid is $200.
In Person - Unavailable at Gray’s
Currently not available at Gray’s, all bidding is done online or by telephone.
Place an Absentee Bid
If you cannot participate in the live auction via phone, online, or the app, you can place an absentee bid prior to auction day with the maximum bid you would like to pay for an item.
It is important to know what the standard bidding increments are. You can find the bidding increments used at Gray’s below.
Furthermore, please read the terms and Conditions of Sale and please note that there is a Buyer’s Premium charged on all lots purchased at auction.
On Auction Day
You can experience the fun of a live auction by joining the auction online, via the app, or on our site. When the auction begins, the auctioneer briefly introduces each item and begins taking bids. The bids advance at the increments listed. For some items, there may be no competition, and the lowest bid is accepted. If there are other bidders, you may get into a bidding war, where the highest bidder takes home the item. The hammer sounding seals the deal and the final sale price.
Step 3: Bring Home
Paying for an Item You’ve Won
After you receive confirmation that you have successfully won your item at auction, the auction house will send you an invoice and give you a payment link to pay for your item. You can choose the credit card you used when you registered for the auction, wire transfer, check, or cash.
Buyer’s Premium
The auction house charges a 23-25% commission on sold items (see more here.) This is called the buyer’s premium and is a standard fee charged by auction houses to cover the costs of facilitating their services.
Shipping or Collection
We have trusted shipping partners that are able to offer you local, regional, and international options. The buyer is responsible for any shipping costs associated with sending the item.
In-person pickup is also available.
It must be noted that on leaving the auction house, the buyer takes full responsibility for the condition in which the item arrives.
If you have any questions at all, don’t hesitate to contact us for more information.