Buyers Guide to Auctions

Gray’s auction showrooms are open to the public during preview and buyers are welcome to attend our sales. These guidelines will give both the novice and veteran buyers a clear understanding our process.

Before the Auction

Our catalogues will be available online on our website approximately three weeks before our auction date. We will have printed auction catalogues approximately one week ahead of each auction. Both the printed catalogue and our online catalogue contain photographs, detailed descriptions and estimates for each lot. Gray’s strongly encourage our buyers to inspect all lots they are interested in, in person. Where this is not possible please contact us to request a Condition Report.

Preview

Our showrooms are open for several days before an auction for exhibition preview. All lots may be examined in person and our knowledgeable specialists will be available to answer any questions. All lots are sold ‘as is’, so a personal examination of any items a buyer is interested in before the auction is highly recommended.

Buyers Paddle

Bidding Process

The bidding process is governed by our Terms & Conditions. Please review and understand these terms before bidding.

Gray’s Auctioneers LLC accept bids from those buyers who attend the sale in person by absentee bid, telephone bid and live online bidding. The Gray’s app is available for both Apple and Android devices.

In Person Bidding

The Auctioneer will only recognize bids from buyers who have a bidding number and paddle. You may register for a paddle at our registration windows either, the day of the auction or, during preview. If you pre-register during preview, on the day of the auction you may pick up your paddle at any of our Bidder Services windows.

Once the auction begins, the auctioneer will clearly announce the lot number and starting bid price. To place a bid, raise your paddle so that the Auctioneer sees you and acknowledges your bid. The auctioneer will accept increasing bids on the Lot until one final bidder remains, at which time the auctioneer will give ‘Fair Warning’ that the bidding is about to close. Finally the Auctioneer will sell the item for the last amount bid. This amount is known as the ‘hammer price’. The Auctioneer will announce the hammer price and the winning bidder’s paddle number.

Bidding Increments

From To Increment
$0 $199 $10
$200 $499 $25
$500 $999 $50
$1000 $1999 $100
$2000 $4999 $200
$5000 $9999 $500
$10,000 $19,999 $1000
$20,000 $49,999 $2000
$50,000 $99,999 $5000
$100,000 $199,000 $10,000
$200,000 $499,999 $20,000
$500,000 $999,999 $50,000
$1,000,000 + $100,000

Telephone Bidding

If you wish to request a telephone bid form, you may do so up to 48 hours in advance of an auction. The telephone/absentee bid form may be found at the end of the print catalogue or it can be emailed to you.

Please note that you must receive confirmation from us that your request to telephone bid has been received by us. If you do not receive confirmation your request may not have been received. If this is the case, please telephone us at 216 226 3300. Our minimum telephone bid is $200.

After your request has been received, you will be assigned an experienced staff member who will call you the day of the auction, before your first lot comes up. They will let you know what bid the auctioneer is asking for and execute bids at your discretion. If you are successful, an invoice will be sent to you after the auction has completed.

Telephone bids are always kept confidential, and lots will be sold to you at the lowest price possible according to reserves and competitive bids.

Absentee Bidding

You may register through the registrations page found on our website, and this will allow you to submit your pre-auction absentee bid via the website. Please note that you must receive confirmation from us that your absentee bid has been received by us. If you do not receive confirmation your bid may not have been received. If this is the case, please contact us.

If you prefer, up to 48 hours in advance of an auction, you may contact us to request, complete and return our telephone/absentee bid form.

Absentee bids are always kept confidential, and lots will be sold to you at the lowest price possible according to reserves and competitive bids.

Online Live Bidding Gray’s Mobile App

Gray’s offers bidders live, real time, online bidding on the web or through our app for Apple and Android. You will need to pre-register if you would like to bid live. Buyers are financially responsible for the packing and shipping of their purchases. Gray’s will provide buyers with a list of recommended packers/shippers, as well as liaise with buyer’s preferred shippers. Please note our buyer’s premium is 20% when you bid in person, on the telephone or absentee and 23% through our website and our mobile app. Our app won the 2016 Silver Medal for the Best Mobile Auction App.

Money iconPayment & Pick-Up Procedures

Payment is due immediately after the sale concludes. All sales are final. All lots are sold ‘as is’. The buyers premium is charged on each lot sold. It is calculated on the final hammer price. In addition there is a Cuyahoga county sales tax of 8%.

All property sold should be picked up from our premises or shipped within five (5) business days following the auction. After that time property not removed will be subject to a handling charge and storage as outlined in our Terms and Conditions.

shipping iconShipping

We can provide you with a list of shippers who offer a wide array of packing and shipping options. Buyers are responsible for arranging their own packing and shipping.

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