Buying at Sotheby's Australia

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 free and open to the general public. Watching an auction live from one of our galleries is a great way to become familiar 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.

1. Before the Auction

Specialists

At Sotheby's Australia the greatest resource for information about the quality and character of property is our team of specialists. Our specialists, many of whom possess the highest degree in their respective fields, appraise, catalogue and sell thousands of objects in any given year. This experience provides the foundation to determine appropriate auction estimates, venue and timing for the sale of any particular object. Specialists know the current market, and they can guide you through the quantity of objects that we offer to help you decide on which objects to bid. 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 illustrated catalogues which 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. We offer our catalogues by subscription or by single copy.

For information on subscribing to our catalogues, please visit our catalogue subscriptions page.

Online catalogues are available on our website generally three to four weeks prior to the auction. You may purchase a catalogue before each auction or sign up for a one-year subscription. You may also sign up to be on our mailing list, and we will provide you with exclusive information on your select areas of collecting via email and alert you when the catalogue is placed online.

For our Fine auctions, we create archive-quality catalogues that provide images and full descriptions for each lot. These catalogues are scholarly and beautifully illustrated, and many experience a second life as important art-world reference tools. Descriptions in our fine catalogues include information about provenance, size, condition, the artist or specific work if available, and value estimates.

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 realised for similar items in recent auctions and other sales venues. Other factors that guide the setting of estimates include the 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.

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 may 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; illustrations in our catalogues, website and other materials are provided for identification only. At the previews, our staff are available to answer your questions and guide you through the auction process. Condition reports for property may be available upon request.

2. Bidding

At Sotheby's Australia, there are three methods of bidding: in person, via absentee bid or telephone bid.

Valid client accounts are required to participate in bidding activity. You can obtain registration information online, or by calling our Bids office on +61 (0)2 9362 1000. 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.

Bidding in Person

Our auctions are free and open to the general public. If you would like to bid, you will be asked to fill out a registration form (details including name, photo ID & address will be collected) and you will be given a bidding paddle. If you are planning to bid at auction for the first time, you will need to provide bank or credit card information to register for our auctions.

To place a bid, hold up your bidding paddle 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 paddle number and bid amount.

Absentee Bidding

If you are unable to attend the auction in person, we will be happy to execute written bids on your behalf. This service is free and confidential.

Sotheby's Australia publishes an absentee bidding form at the back of each catalogue and you may also download or complete an online form at sothebysaustralia.com.au. On this form you will be asked to indicate the item upon which you wish to bid and the maximum bid amount you are willing to make. If you do not have an account with us already, your absentee bidding form will contain the information required for registration, and we will contact you to confirm your identity.

Completed absentee bidding forms should be returned to the bids department at Sotheby's Australia by fax, post or in person.

When we execute an absentee bid on your behalf, the lot will always be bought for the lowest increment that exceeds all competing bids and which meets or exceeds the reserve price. In the event of identical bids, the earliest received will take precedence.

You may also use the absentee bidding form to indicate more than one item on which you would like to bid, depending on whether your earlier bid is successful (an ‘or' bid). We are not able to execute ‘Buy' or unlimited bids.

Successful absentee bidders will receive an invoice after the auction.

Click here to download Absentee Bidding form

Telephone Bidding

Telephone bidding is available on certain lots. A Sotheby's Australia employee will call you from the auction room several minutes before the item you are interested in comes up for sale. 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. 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 auction.

Click here to download Telephone Bidding form

Absentee and telephone bids are offered as an additional service for no extra charge and at the buyer's risk. Sotheby's Australia cannot accept liability for failure to place such bids.

Buyers' Premium

Sotheby's Australia does not own the property sold at auction; instead we host an auction as a venue to bring buyers and sellers together. Our sellers are called consignors and we take possession of their property several months before the auction. We use this time to research, catalogue, photograph and market the items before they go to auction. When an object is sold, Sotheby's Australia receives a percentage of the hammer price, that we call seller's commission, plus certain 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 is 20% of the Hammer (plus GST)
Our Buyer's Premium rates for Collectors' Motor Cars, Motor Boats, Motorcycle auctions is 15% of the Hammer (plus GST)

Resale Royalty

From 9 June 2010 the Australian Resale Royalty Scheme will be applied to all commercial resales of artworks. Under the Visual Artists Act, 2009 buyers, sellers and agents involved in commercial art resales have legal responsibilities to comply with the Resale Royalty Scheme. Auctions of Australian and Aboriginal art are impacted by the scheme. Some Decorative Arts and Jewellery items may also be captured under the Resale Royalty Scheme.

The Resale Royalty applies to all commercial art resales that meet the following criteria:

  • The artwork was acquired (inherited, purchased from a commercial gallery, art dealer or at auction) after June 9, 2010.
  • The artist is Australian.
  • The artist is alive or deceased for less than 70 years.
  • The hammer price of the work is $1,000 or above.

The Resale Royalty is a flat 5% fee calculated on the hammer price of works sold at auction. This fee is passed on to the buyer of works at auction and is payable in addition to buyers premium (+GST). The 5% Resale Royalty goes directly to the artist or the artist's estate. Sotheby's Australia is required to pass the royalty fee to the Government's appointed collecting agency, Copyright Agency Limited. Sotheby's Australia's buyer's premium remains at 20% +GST.

For further information please contact department specialists or the Copyright Agency Limited (www.resaleroyalty.org).

3. Payment and Shipping

All buyers are asked to pay and pick up by 4pm two days following the auction. Payment may be made to Sotheby's Australia by cash, cheques with approved credit, bank cheque or money order, wire transfer or other immediate bank transfer, Visa, MasterCard, American Express credit (Diners Club card not accepted) or debit cards. 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 in our account.

Upon payment, you may pick up your purchases at the auction location or arrange to have them shipped. All purchases should be picked up or shipped within ten business days after the auction. After that time, your property will be subject to a handling charge and you may be charged for storage. If you require shipping, our administrative staff are available to assist you.

For more information, please contact client services at +61(0)2 9362 1000.