Creighton-Davis Gallery Auction Bidding
Note: All bids must be entered by phone, internet bid form or written. In addition live bidding will be available using one or more of the live bidding portals available online. See auction home page for live bidding portal(s) in use.
Creighton-Davis Gallery use a time tested system of live, telephone and absentee bids to auction off the works presented in its auction sales. The system is designed to be fair to all and avoid the various manipulations and complications that have cropped up in a number of electronic venues.
Note: A starting bid of less than 3/4 of the low estimate will be rejected (a starting bid may not meet the reserve-see below)
The system works in three ways.
1. Absentee Internet Bidding: Internet bidders may enter bids via the bid form at each lot description. After registering, simply click on the bid button at each lot and enter your bid and registration number. The entered bid represents a maximum limit bid for the work and is not exceeded in the bidding competition. If there is no other competition for the work and the bidding can be opened at a level below your limit you would buy at the lower level. Thus the system protects the absentee bidder in two ways. No competition: you buy at the open or at the reserve if there is one. Other bidding: you buy at one increment above the next highest bid but no higher than your limit. If there are higher bids than your limit you would, of course, be unsuccessful.
Bid Tabulation: Web bidders receive an automatic response from the server advising them of their standing in the bidding for that lot. Current high bids are posted on-site as frequently as possible (update times posted in the catalog- use your refresh/reload button to be sure to see the latest version). Written and telephone bids posted as received. (see bid deadlines below for late bidding advice). Bidding closes at the date specified in the auction announcement or, for lots with late bids, thirty minutes after the last bid received on a particular lot. New You will not bid against yourself if you raise your bid limit. A new feature checks to make sure that you don't bid against yourself in the event you wish to revise your bid limit to protect yourself from being outbid by another bidder. Bids may not be withdrawn once entered. In some cases you may revise your bid limit downward if there are no other competiting bids... call or email us if this becomes an issue.
Review Your Bids: Internet bidders may request a list of their bids using the link at the top of the auction catalog. .
In the event there is a live auction, the live auction begins with the last posted bid on the internet or, if none, at a level at or below the minimum, if any, for that lot. Additional bidding, if there is any, by phone or on the floor will determine the final highest bid on any lot. If your internet bid limit is higher than the last posted bid on-site for a particular lot, the auction will continue to bid on your behalf until your bid limit is reached or the live bidders retire.
Bid Deadlines: For an non-live auction, the bid deadline is specified in the auction schedule or 30 minutes after the last bid received on a particular lot, which ever is later, provided a bid is received before the bid deadline. Bids may be entered at the last minute by telephone and will also extend the bid deadline by thirty(30) minutes for that lot if received in the last half hour before the bid deadline. Telephone and written bids will be posted on the web as received so all interested parties can see the latest bids, and, if applicable, any bid deadline extensions will also be posted. You can continue to bid as long as your bid is received before the extended deadline. Each new bid extends the deadline 30 minutes beyond the last bid as long as bidding is still open on a particular lot.
The use of the automatic bid tabulation system on the internet is designed to protect the interests of all bidders by comparing and posting the bids automatically as they arrive. The program will only post bids according to the increment formula listed below and automatically rounds any bid received between the increments posted below to the next lowest acceptable bid level. You are advised as you bid on what bid has been entered on your behalf and how your bid compares with previously entered bids. Bidders on the net may submit higher bids on a work they have already bid on, but cannot lower or withdraw a bid using the internet autobid system. This policy protects against sham bidding where initially a very high bid is entered and then, at the last minute, is withdrawn so that the next lower bid, which is usually very much lower, becomes the winner at the much lower level by default.
2. Telephone Bidding: We can sometimes accomodate a number of telephone bidders in the event of either a internet only auction or a live auction. Telephone bidders can be contacted just before the lot comes up and an auction associate will relay your telephone bids to the auctioneer. Please make reservations in advance for this service. It may not be possible to accomodate every telephone bid request. Not all auctions will have telephone bidding available.
3. Live Bidding: In the event there is a live auction session, you can attend the actual auction and bid in the traditional system whereby the auctioneer asks for bids and matches the interests of the audience with the absentee, internet, and telephone bidders. Not all auctions will have a live aucdience session.
3. Minimum Bids, Starting bids and Reserves: Many works have reserves, the lowest price the lot can be sold for. The autobid function will not accept any bids less than 3/4 the low estimate as a starting bid. However, the reserve, if any, may be as high as the low estimate and thus a starting bid may not meet the reserve requirement.
increments are strickly adhered to when there are absentee bids on a
lot. No lot will be sold below specified increment levels noted below.
Bids entered between these increments will be rounded down to the
specified increment level just below your bid limit. The reason for the
increment restriction is to be fair to all bidders. Everyone, whether
present or absentee, clearly knows in advance what the next price must
be and can decide if it is a price they wish to pay.
under $100, $10; $100-$500 $25; $500-$1000, $50;$1000-$2000, $100;
$2000-$5000, $250;$5000-$10000, $500; $10,000-$20,000; $1000
$20,000 up; $2500.