Bidder indicates the lots they want, and their maximum bid amount for each lot. The “plus one” options means the bidder authorizes us to go one increment higher than their maximum bid.
A prospective buyer’s indication or offer of a price he or she will pay to purchase property at auction. Bids are usually in standardized increments established by the auctioneer.
The standardized amount an item increases in price after each new bid. The auction service sets the increment, which rises according to the present high bid value of an item. Accepted bidding increments for absentee bids are as follows: $500-1,000, $50; $1,000-3,000, $100; $3,000-5,000, $250; over $5,000, $500.
If a reserve is required by the consignor and that price is not met, the consignor is required to pay a fee of 15% of the unmet reserve. When a lot does not meet its reserve, a buy-back fee of 15% of the unmet Reserve will be charged before the unsold lot is released to the Consignor.
The minimum price that a seller is willing to accept for an item to be sold at auction. This amount is never formally disclosed. A Reserve is not required by PAAM but will be honored if specified by the Consignor. Reserves are not published nor will they be revealed to potential buyers.
An additional service charge of 25%, for which the buyer is responsible, which is added to the price of sold items.
One bid above your final absentee bid. Please note that the bidding may fall against you in the audience when there is active competition for a lot. For instance, if you have left a bid of $1,000 and there is someone in the audience bidding for the same lot, the auctioneer may take a $950 bid from the person representing you. The next bid — $1,000 — will fall to the person in the audience. To ensure that you do not lose in this case, you may authorize us to increase your bid by one increment beyond your maximum bid to try to break this “tie” with the audience by checking the appropriate column on this bid form (PLUS ONE).
If you plan on purchasing something for resale and you are not required to pay state sales tax, then you must complete and submit your MA sales tax number form to PAAM when registering for a paddle.
These are essentially live bids, the difference being that the bidder is not in the building but instead on the phone with someone at the auction. A PAAM volunteer calls the bidder as their lots come up, and the bidder communicates their bids to the volunteer. It is of course crucial when filling out the Absentee Bid form to clearly write down phone number. People who register for telephone bids or leave a silent bid MUST leave a valid credit card number on file. Information should include CC#, Exp Date, and Billing Zip Code. All Telephone Bids and Left (Silent) Bids are charged to those cards on Sunday.