| An auction means a public sale of properties or | | | | auction house. It is a percentage of the final bid price. |
| objects that are sold to the highest bidder. There are | | | | Sotheby's and Christies are two very famous auction |
| a whole lot of things that can be put to auction. | | | | houses. Samuel Baker founded Sotheby's in the year |
| There are auctions that are held under various | | | | 1744. However, today this premier auction house has |
| categories such as antiques and art, automotive that | | | | branches on the Manhattan's York Avenue and New |
| include vintage cars, motorcycles, accessories, etc. | | | | Bond Street, London. The New York office was |
| The other popular items include clothing and | | | | opened in the year 1955. In the year 1964 Sotheby's |
| accessories of film stars and sports stars, scripts of | | | | acquired the Parke-Bernet, which was the largest art |
| movies, sports goods. The jewellery auctions selling | | | | auction house of America. This acquisition helped |
| intricately designed precious jewels and gem | | | | Sotheby's gain a sizable presence across America. |
| jewellery are extremely popular. | | | | James Christie founded Christies in the 18th century. |
| There are auction houses where you can go and bid | | | | A man having very charming demeanor, James |
| for the things of your liking. The auction houses have | | | | Christie's clientele included the British royalty as well. |
| a calendar holding the sale on a particular theme. You | | | | The auctions of Christies include some 80 categories. |
| need to submit details such as name, address, | | | | Their sales rooms in America are at the Rockefeller |
| telephone number and banking or credit information | | | | Center, New York and North Camden Drive, Los |
| as is specified by the salesroom where you are going | | | | Angeles. |
| to bid. A unique number, known as the Client Number, | | | | Auctions these days are not just limited to the |
| is going to be allotted to you. A paddle is a plastic | | | | auction houses. There are lots of websites that are |
| card bearing a number that is registered at the | | | | into the business of auctioning. You can list the |
| auction. The paddle is raised to bid and the auctioneer | | | | products you want to auction and invite bidders. You |
| calls out the paddle number of the successful bidder | | | | can specify the time when the bid closes as well as |
| at the time of selling each lot. When the gavel falls | | | | other terms and conditions. You need to specify that |
| the auctioneer announces the hammer price. The | | | | shipping and the other supply costs are to be borne |
| hammer price is the final bid price, which does not | | | | by the buyer. |
| include a buyer's premium. The buyer's premium is the | | | | Click on the item of your choice and get set bidding. |
| money that is paid separately by the buyer to the | | | | |