Before the bidding starts
To make your auction experience as enjoyable and successful as possible, we would like to share some basic information. The first rule of buying at auction is to do your research.
Take advantage of the auction preview. This will give you ample time to take measurements and inspect the items for any damage, interesting features or identifying marks, or to make sure that the items are complete, or in working order. This is also the time to formulate a maximum bid. This is the maximum amount of money you decide you want to spend on an item. Having this number in mind during the actual bidding will help you to stick to your budget guideline. This is where advice from our staff can be helpful in understanding market prices and current popularity. Remember that a buyer's premium and applicable taxes will also be added to the hammer (final) price. The buyer's premium is 20% of the hammer (final) price of each lot up to and including $50,000 and 15% over $50,000. We encourage you to talk with our knowledgeable staff for advice on estimates, conditions, etc. Another useful tool is the search feature on our website which will allow you to find the prices realised for all our past auctions. Certain items are restricted from export out of the country due to protection under CITES (Convention on International Trade in Endangered Species) and still other items may require a permit for export. This includes but is not limited to whalebone, tortoiseshell & ivory. Please contact the appropriate department for help in determining if this applies to your item.
Registration is required for all auctions. This simply means providing your name, address and a piece of identification to our registration staff. You will be given a bidder's number, which will identify you to the auctioneer. There is no charge for registering, but we encourage you to pre-register in advance (for instance, at the preview) when possible to save time the day of the actual auction.
Let the bidding begin
So the time has arrived for the items you are interested in to be presented on the auction block. For Fine Art and Specialty Auctions, our doors generally open a half hour before the scheduled start time of the auction, at which time you can register (if you haven't already) and find a seat in the auction gallery. The auctioneer will introduce the auction and advise of any late changes to the catalogue. Do not forget bidding is in Canadian dollars.
When you want to bid on an item - make sure the Auctioneer can see you are bidding by raising your hand or your number. Once the auctioneer has taken your first bid they will keep their eye on you. Being too subtle or furtive may lead to the auctioneer missing your bid. And no, the auctioneer will not hammer down that antique vase to you because you were scratching your nose! But do be aware that all sales are final.
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If you're not able to attend an auction in person, there are several ways you can still participate in the auction:
Absentee Bid
Leave your bid amount with a staff member and it will be executed on your behalf. Be assured that your bid will be advanced to the least possible price to secure the lot. Telephone Bid (for registered catalogue auctions)
Indicate the lots you are interested in along with your phone number. You will be contacted by phone during the auction as the items you are interested in are offered. This enables you to bid over the telephone with the assistance of a Waddington's™ employee. These bids must be registered no later than 4 hours before the start of the auction. Telephone bids are taken on a 'first-come-first-served' basis.
First time bidding? Upon delivery of your bid request (telephone or absentee) our accounts department will contact you to confirm your bids have been received. In addition, you may be required to provide a small credit card deposit, refundable within 24 hours should you not be successful, or to be applied to your purchase(s) if you are successful. Full details will be provided to you in the event a deposit is requested.
After the auction
If you are a successful bidder you have 48 hours to pay and 10 days to pick up your purchases.
Items left after 10 days may be subject to storage fees on a per lot basis as per the schedule below:
Furniture & Carpet per lot: $25/week
All other items: $15/week
Payment for purchases must be by cash, travelers cheque, bank draft, electronic transfer (fee applies), and VISA, Mastercard or American Express (up to $25,000). Canadian clients may also utilize INTERAC direct debit and certified cheque as payment. Waddington's requires credit cards to be presented in person by the cardholder and therefore will not accept credit card payments over the telephone, however fax authorization arrangements can be made.
We are also pleased to assist you with the arrangement of shipment of your items.
Now that you've experienced the excitement of buying at an auction, we look forward to seeing you at all our various events and helping you make the perfect auction acquisitions!
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