(also called Commission or Order Bid)
A bid from a buyer who cannot attend the sale.
Used by prospective bidders to leave absentee bids or to request
a telephone bid. The printed bid form must be signed by the
prospective buyer in order for the form to be accepted and
executed. Available through Sloans & Kenyon’s Business
Office, at the back of Sloan & Kenyon printed catalogues,
and online (click on the Absentee Bid Form link, fill out
and fax back at (301) 656-7074).
Prepared after the publication of the sale catalogue, listing
late additions to the sale, withdrawn items and correcting
errors contained in the catalogue. Available in the gallery
and Business Office during the exhibition and auction.
A valuation by a specialist of the worth of the property.
An appraisal may be conducted for a variety of purposes, including
auction, insurance and probate. The stated values may differ
depending on the purpose of the appraisal. Sloans & Kenyon
conducts both written and verbal appraisals. For questions
on appraisals, please contact Stephanie Kenyon
at (301) 634-2330, or at firstname.lastname@example.org.
Verification by an outside expert that a work is by the artist
to whom it has been attributed.
The amount by which the bidding on a lot is increased during
the sale. A listing of standard increments is included in
the catalogues and online in the Buyers section of this website.
The number assigned to a client in order to bid in person
at a sale. A client receives a new bidding number for each
auction. To receive a bidding number a client must register
for the auction with the Business Office or email us at email@example.com.
A percentage of the lot hammer price payable by all buyers
in addition to the hammer price. Consult the Terms & Conditions
section of the website for complete details.
A reference number given to each client, consisting of up
to 10 digits.
Prepared by the specialist after examination of the object
in question. The report covers such things as repairs, damage,
and overall state of the object. The condition report is a
guide for prospective purchasers and is not a warranty.
Used to record information about the consignor and the objects
consigned for sale. The completed contract is between the
consignor and Sloans & Kenyon and is legally binding.
It must be signed by the consignor and by a Sloans & Kenyon
representative. This contract lists all fees and charges associated
with consigning inventory to Sloans & Kenyon. No property
can be consigned without the completed signed contract.
The owner of the item being sold. The consignor can be a private
individual, dealer, fiduciary or company.
Sloans & Kenyon charge to the consignor to sell the property.
This commission is calculated on each lot sold in the consignment.
A guide price for buyers based on a specialist’s view
of what the object is worth at auction.
The time the gallery is open to the public to view the items
to be auctioned. Dates and times are published on the website
and in the catalogues and on listings and postcards associated
with the sale.
The small hammer used by the auctioneer; usually made of wood
The successful bid price of a lot as announced by the auctioneer,
excluding Buyer’s Premium.
A small percentage charge to cover the cost of insuring the
goods while in Sloans & Kenyon care. A consignor who chooses
to insure the property himself/herself and provides a certificate
of insurance will not be charged this fee.
A separate number assigned to each item in a sale. Lot numbers
identify objects in the catalogue. When on exhibition, an
object is tagged with its lot number and sale number.
Individually numbered card, which is issued to each buyer
who registers to bid in the sale. New paddle numbers are given
for each sale.
If an item does not have any interest when it comes up for
auction the auctioneer may pass the lot.
Bidding by a buyer over the telephone through a member of
staff in the salesroom. Phone Bidding can only be undertaken
by trained staff members and only for lots estimated at $300
A report of the sales results, lot by lot. Generally this
report will reflect the buyer’s premium.
(also known as Podium)
Where the Auctioneer sits during the sale.
The identification number specific to each sale.
An expert in a particular field.
The guidelines under which the sale is conducted. Terms
& Conditions are printed in all catalogues and are
posted on the website.
An item which has been catalogued for sale, but which is subsequently
taken back by the consignor or removed from the sale at the
direction of the specialist.
|Copyright 2005 Sloans & Kenyon Auctioneers and Appraisers
ALL RIGHTS RESERVED.