How to Buy at Bay East Auctions

There are a few important things to know about buying at auction before you begin. You should also read the Buyer's Guide located in the catalogue for sale-specific information.

Our auctions are open to the general public. Going to an auction is a great way to familiarise yourself with the auction process. We invite to you attend one of our upcoming auctions. If you have any questions about the auction process, please feel free to ask one of our staff members for guidance.

Before the Sale

Specialists

Here at Bay East Auctions, the greatest resource for information about the quality and character of the items on offer is our team of specialists. Their experience provides a foundation to determine appropriate auction estimates, venue and timing for the sale of any particular object. Our specialists know the current market, and can guide you through the quantity of objects on offer to help you decide on which objects to bid on. Many of our specialists are members of appraisal organizations and they adhere to industry-wide standards for cataloguing and appraisals.

Catalogues

Before each auction we publish a fully illustrated catalogue on our website, as well as a printed version. Our catalogues provide descriptions and estimated values for each lot. A lot may refer to a single item or to a group of items auctioned together. The catalogues also include the dates and the times for the previews and auctions. For information on subscribing to our catalogues, please visit our catalogue subscriptions page.

You may also sign up to be on our mailing list, and we will provide you with exclusive information on your areas of collecting interest via email and alert you when the catalogue is placed online.

The estimates in the catalogues are provided as an approximate guide to current market value, and should not be interpreted as a representation or prediction of actual selling prices. This estimate, expressed in a low/high range of dollar amounts, is reached after the specialist compares prices realized for similar items in recent auctions and other sales venues, across Australia and around the world. Other factors that guide the setting of estimates include the aesthetic appeal, condition, rarity, provenance and market potential of the item. They are determined well in advance of a sale and are subject to revision. Please contact us should you have any questions about value estimates.

Some lots in a catalogue are subject to a "reserve", unless otherwise indicated. The reserve is the minimum price that the seller is willing to accept for a lot. This amount is confidential and does not exceed the low estimate. However, many items in Bay East auctions are sold without a reserve.

Previews

Auction previews are your chance to inspect each lot prior to the auction. We encourage you to look closely and examine each object on which you want to bid so that you will know as much as possible about it. Except as expressly set forth in the Conditions of Sale, items are sold "as is" and with all faults. Please note that llustrations in our catalogues, website and other materials are provided for identification only. At the previews, our team are available to answer your questions and guide you through the auction process.

The Sale and Bidding

At Bay East Auctions, you can bid in many ways: in person, via absentee bid, or over the phone. Valid client accounts are required to participate in bidding activity. You can obtain registration information online, or by calling our office. By bidding at auction, whether in person or by agent, by absentee bid, telephone or other means, the buyer or bidder agrees to be bound by the Conditions of Sale.

We assume no responsibility for failure to execute bids for any reason whatsoever. Please see the Conditions of Sale for more information.

Bidding in Person

Our auctions are open to the general public. If you would like to bid, you will be asked to fill out a registration form (details including name, credit card details, photo ID & address will be collected) and you will be given a bidder number.

To place a bid, hold up your card so that the auctioneer can clearly see it. Decide on the maximum amount that you wish to pay, exclusive of buyer's premium and GST, and continue bidding until your bid prevails or you reach your limit. If you are the successful bidder on a lot, the auctioneer will acknowledge your bidder number and the amount which you have bid.

Absentee Bidding

As a service to those wishing to place bids, we may at our discretion accept absentee bids (without charge and in advance of sale). Absentee bids can be submitted in person, online or via fax on an absentee bidding form available from us. All bids must state the highest bid price the bidder is willing to pay. Our auction staff will try to bid just as you would, with the goal of obtaining the item at the lowest bid price possible. In the event that identical bids are submitted, the earliest bid submitted will take precedence. Absentee bids will be executed in competition with other absentee bids, any applicable reserve, and bids from other auction participants. A friend or agent may place bids on your behalf, provided that we have received your written authorisation prior to the sale.

Please send the completed form to:
Bay East Auctions
224 Young Street
Waterloo NSW 2017
Fax +61 (0) 2 9698 9158

Phone Bidding

Phone bidding is available on certain lots. A Bay East employee will call you from the auction room several minutes before the item you are interested in goes on the block. The representative will talk you through the auction and ask you when and at what increments you would like to bid. Because we must schedule employees to be available in the auction to phone bid with you, please register at least 24 hours in advance of the auction. We also ask that you be willing to bid up to the low estimate of an item for a phone bid. Register for phone bidding by contacting our Bids Office at +61 (0) 2 8306 2200. We do not accept phone bids for lots with a low estimate of less than $1000 and may not accept any bids on the day of the sale.

Buyers' Premium

Bay East Auctions does not own the property which it sells at auction. We host an auction as a venue to bring buyers and sellers together. When an object is sold, Bay East Auctions receives a percentage of the hammer price, which we call the seller's commission, plus other fees as our payment from the consignor for our services.

We also collect a percentage of the hammer price from the buyer that we call Buyer's Premium. A buyer's premium is added to the winning bid price (hammer) of each individual lot purchased, at the rates set forth in the Conditions of Sale. The winning bid price plus the premium constitute the purchase price for the lot. Applicable sales taxes are computed based on this figure, and the total becomes your final purchase price.

All sales are final and subject to the Conditions of Sale found in your catalogue, on our website, and available at the reception desk.

Our Buyer's Premium rates for most types of auctions are as follows:
20% of the Hammer (plus GST)

Our Buyer's Premium rates for Motor Cars, Boats, Motor Cycle auctions are:
13% of the Hammer

Items left on the premises after the auction may incur storage and other fees. Please see the individual sale catalogue for additional information specific to the sale.

Post Sale Payment

All buyers are asked to pay and pick up by 4pm two days following the auction. Payment may be made to Bay East Auctions by cash, cheque with approved credit, bank cheque or money order, wire transfer or other immediate bank transfer, or Visa, MasterCard, American Express credit (Diners Club card not accepted) or debit cards there is a payment transaction fee applicable to all credit card transactions. Items must be paid for within 5 business days of the sale or as otherwise stated in the sale catalogue. Please note that payment made by personal or business check may result in property not being released until purchase funds clear our bank.