FAQ Category: 4. Auction terminology

Refers to the location that one auctioneer is selling at an auction that has multiple auctioneers selling at the same time.

Refers to the general area and time that an item is sold at an auction by an auctioneer.

Refers to a person who works with an auctioneer and assists with spotting bids in a crowd of bidders.  They also assist bidders who might have trouble understanding the amount the auctioneers is currently calling for.

Refers to a person who has been professionally trained to sell items at auction by calling for bids.

Refers to a person or entity who places an item or items with an auctioneer or auction company to sell at auction.

Refers to an item or items placed with an auctioneer or auction company to sell at auction on behalf of a seller who is referred to as the consignor.

Used by an auctioneer to indicate that the highest bid has not met the seller’s reserve price and that if the high bidder wishes, the seller can be contacted after the auction to see if the high bid is acceptable.  If the seller chooses to accept the high bid, the bidder will be given the … Read more

Refers to an item being sold at auction that has a minimum price or reserve on it.  It will be not be sold to the highest bidder unless the seller is present and removes the reserve.  The highest bidder may be given the choice of an if-bid which is handled after the auction concludes.

Refers to an item being sold at auction that does not have a minimum price or reserve on it.  It will be sold to the highest bidder.