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Rules

Three methods of making bids will be employed during the course of the auction. The type of bid applying to each particular lot as it comes up, will be announced beforehand by the auctioneer. The types of bidding will be as follows:

1)The auctioneer will begin bidding at a reserve price as published in the catalogue. The auctioneer will raise the bidding according to the auction rules. The hammer will come down following the highest offer made by a bidder using an appropriate numbered card.

2)Reverse bidding will be performed where stated in the catalogue.  The auctioneer will commence bidding at the stated starting price and will step down the price according to the auction rules. At any point a bid may be made by anyone with an appropriate numbered card. If the reserve price is reached, bidding will commence upwards. In as much as a bid is not bettered, that bidder will have bought that specific lot.

3)Following the course of bidding on a particular lot, the final bid must exceed the reserve price as agreed by the seller and OTP. This reserve price will not have been published in the catalogue. 


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