CONTACT US

New to auctions or just don't get some "auction speak"?  Here is a list of common Auction Terminology and definitions for you to review!

Absentee Bidder:

A person who may not attend the sale but submits, in advance, a written or oral bid that is the top price he/she will pay for a given property.

Absentee Bid/Proxy Bid:

A method of bidding for those who cannot or do not wish to attend an auction. LiveAuctioneers allows a bidder to leave a bid on any item listed online by clicking “Bid Now” and entering a bid amount. All bids are kept confidential from the auctioneer and other bidders. At the time of the live auction, the bidding system will attempt to execute your bid at the lowest cost possible.

Buyer's Premium:

An additional service charge, for which the buyer is responsible, may be added to the price of sold items. If so, this will be indicated on the item page.

Competing bid: During a sale, the auctioneer may be accepting competing bids for an item from various sources; these include (but are not limited to):

• bids from an in-house audience
• telephone bids
• book bids
• absentee bids
• other bidding platforms

Outbid: To submit a maximum bid that is higher than another buyer's maximum bid.

Pass/Unsold: Terms used by the auctioneer when an item fails to reach its reserve at auction. 

An invoice is setting out the hammer price plus all other applicable charges, such as the buyer's premium, taxes, and shipping any additional charges that may apply.

All payments or settlements shall be made in US dollars; buyers shall only collect the lots after full payments are made. Should payments be made by check or draft, lots will only be released after bank clearance. 

We only accept payment by wire transfer and check. Buyer is subject to a $50 fee for bounced checks.
In order to ensure secure payment processing, Venice Art Auction requires that invoices exceeding $5,000 be settled through Bank Transfers (ACH) or checks. This policy has been implemented to safeguard financial transactions and minimize the risk of fraudulent activities or unauthorized transactions. Our company does NOT accept credit card payments for first-time bidders and for transactions amounting to more than $5,000.

If the bidder refuses to pay for the invoice after the successful bidding, the liquidated damages shall be 30% of the amount of the hammer price, which shall be responsible by the buyer. In the event of the bidder (buyer) fails to complete the payment within 15 days, our company has the right to dispute the unpaid lot and cancel the transaction. 

We will pack and arrange delivery in-house.   

· Domestic: Starts with $50 to anywhere within the contiguous U.S. 

· International: Foreign shipping rates are determined by destination, size and weight, starts with $180. International shipping may be subject to VAT.   

Packages should be shipped within two weeks after payment is received. Larger packages and international delivery may exceed this period.