The auctioneer presides over the auction by initiating the sale of a lot indicating the No. and description of the work and initiating the bid that a potential buyer indicates to the auctioneer to be awarded the lot.

Once the first bid is made, other participants will place higher bids. Increasing the bid, the auctioneer will request bids approximately 10% higher than the previous one. Bidders can be present in the auction room, participate by phone, or in writing.

Written bidding is the bidding method for those who are unable or unwilling to attend and do so by filling out and submitting a written bid form.

The auctioneer will also place bids on behalf of absent bidders, finally determining when a higher bid has been made. The auctioneer will give notice that the auction of the lot is about to close by giving one last chance to increase the bid. If no subsequent bid is made the auctioneer will hit the hammer and say “sold” and the sale will have been made.

If the Lot does not reach any bid, the auctioneer will say “let’s go to the next one”.