Absentee Bid
(Also known as Commission Bid)
A bid is placed by a potential buyer who cannot attend the sale.
Absentee Bid Form
Used by prospective bidders to leave absentee bids. The printed bid form must be signed by the prospective buyer in order for the form to be accepted and executed.
Find our printable Absentee Bid Form here: 
GORRINGES BIDDING FORM.pdf
Addendum Sheet
Prepared after the sale catalogue has been printed, listing late additions to the sale, withdrawn items and correcting errors contained in the catalogue. The addendum is always clearly displayed on the saleroom premises.
Appraisal
A valuation by a specialist of the worth of the item. An appraisal may be conducted for a variety of purposes, including auction, insurance and probate. The stated values may differ depending on the purpose of the appraisal.
Buyer’s Premium
A percentage of the lot hammer price payable by all buyers in addition to the hammer price. Consult the Terms & Conditions section of the website for complete details.
Bidder Registration Number
The number assigned to a client in order to bid in person at a sale. A client receives a new bidding number for each auction. To receive a bidding number a client must register for the auction.
Client Number
A unique reference number is given to each client. This number should be quoted in all correspondence with Gorringe’s.
Condition Report
Prepared by the specialist after examination of the object in question. The report covers such things as repairs, damage, and the overall state of the object. The condition report is a guide for prospective purchasers and is not a guarantee.
Consignment Receipt
(Contract)
Used to record information about the consignor and the objects consigned for sale. The completed contract is between the consignor and Gorringe’s and is legally binding. It must be signed by the consignor. This contract lists all fees and charges associated with consigning inventory to Gorringe’s. No property can be consigned without the completed signed contract.
Estimate
A guide price for buyers based on a specialist’s view of what the object is worth at auction.
Gavel
The hammer used by the auctioneer when selling on the rostrum.
Hammer Price
The successful bid price of a lot as announced by the auctioneer, excluding Buyer’s Premium.
Insurance Charge
A small percentage charge to cover the cost of insuring the goods while in Gorringe’s care. A consignor who chooses to insure the property himself/herself and provides a certificate of insurance will not be charged this fee.
Lot Number
A separate number is assigned to each item in a sale. Lot numbers identify objects in the catalogue. When on exhibition, an object is tagged with its lot number and sale number.
Paddle
Individually numbered card, which is issued to each buyer who registers to bid in the sale. New paddle numbers are given for each sale.
Phone Bid/Telephone Bid
Bidding by a buyer over the telephone through a member of staff in the salesroom. Phone Bidding can only be undertaken by trained staff members and only for lots estimated at £300 or more.
Prices Realised
A report of the sales results, lot by lot
Rostrum
Where the Auctioneer stands during the sale.
Sale Number
The identification number is specific to each sale.
Specialist
An expert in a particular field.
Terms and Conditions of Sale
The guidelines under which the sale is conducted. Full Terms & Conditions are posted on the website.
Vendor
The owner of the item being sold. The consignor can be a private individual, dealer, fiduciary or company.
Vendor Commission
Gorringe’s charge to the consignor to sell the property. This commission is calculated on each lot sold in the consignment.
Withdrawn Lot
An item that has been catalogued for sale, but which is subsequently taken back by the consignor or removed from the sale at the direction of the specialist.
