This term is used to describe the successful bid for a lot at auction. It is the sale price before the addition of the buyer's premium or sales tax, if applicable.
Price a lot sells for to the highest bidder. Term relates to the auctioneer striking a gavel (literally or figuratively) to signify the sale of a lot. ncrement - Amount of money an auctioneer seeks to advance the bid for a lot.
in an auction, the price for which a lot is sold
The final bid price of an item. This is the amount that the buyer will be required to pay before receiving ownership of the item.
The winning bid for a lot at auction. It is the price upon which the auctioneer's hammer falls, determining the sale price and does not include the buyer's premium.
The final bid amount that the item sells for.
The final price of an item up for sale at a physical auction. The high bid is acknowledged by the auctioneer with a drop of the hammer or gavel. Back to the top
The successful bid price of a lot as announced by the auctioneer, excluding Buyer's Premium.
The amount of the successful bid which the auctioneer acknowledges at the fall of the hammer or gavel.
an auction term used to describe the highest bid. Often, the auction house will add a buyer's premium to the hammer price. Thus the bidder will pay the hammer price plus the buyer's premium, usually 10-15% of the hammer price.
Price established by the last bidder and acknowledged by the auctioneer before dropping the hammer or gavel.
The highest bid which is accepted by the auctioneer