2 Bidding in the Sale
Bidding at Auction
Bids may be executed during the auction in person by paddle, by telephone, online
or prior to the sale in writing by absentee bid. Proof of identity in the form of
government-issued identification will be required, as will an original signature.
We may also require that you furnish us with a bank reference.
Bidding in Person
To bid in person, you will need to register for and collect a paddle before the
auction begins. New clients are encouraged to register at least 48 hours in
advance of a sale to allow sufficient time for us to process your information. All
lots sold will be invoiced to the name and address to which the paddle has been
registered and invoices cannot be transferred to other names and addresses.
Please do not misplace your paddle. In the event you lose it, inform a Phillips staff
member immediately. At the end of the auction, please return your paddle to the
registration desk.
Bidding by Telephone
If you cannot attend the auction, you may bid live on the telephone with one of
our multilingual staff members. This service must be arranged at least 24 hours
in advance of the sale and is available for lots whose low pre-sale estimate is at
least HK$8,000. Telephone bids may be recorded. By bidding on the telephone,
you consent to the recording of your conversation. We suggest that you leave a
maximum bid, excluding the buyer’s premium, which we can execute on your behalf
in the event we are unable to reach you by telephone. To arrange a telephone bid
please contact the Hong Kong bids department at +852 2318 2029.
Online Bidding
If you cannot attend the auction in person, you may bid online on our online
live bidding platform available on our website at www.phillips.com.The digital
saleroom is optimized to run on Google Chrome, Firefox, Opera and Internet
Explorer browsers. Clients who wish to run the platform on Safari will need to
install Adobe Flash Player. Follow the links to ‘Auctions’ and ‘Digital Saleroom’ and
then pre-register by clicking on ‘Register to Bid Live.’ The first time you register
you will be required to create an account; thereafter you will only need to register
for each sale. You must pre-register at least 24 hours before the start of the
auction in order to be approved by our bid department. Please note that corporate
firewalls may cause difficulties for online bidders.
Absentee Bids
If you are unable to attend the auction and cannot participate by telephone, Phillips
will be happy to execute written bids on your behalf. A bidding form can be found at
the back of this catalogue. This service is free and confidential. Bids must be placed
in the currency of the sale. Our staff will attempt to execute an absentee bid at the
lowest possible price taking into account the reserve and other bidders. Always
indicate a maximum bid, excluding the buyer’s premium. Unlimited bids will not be
accepted. Any absentee bid must be received at least 24 hours in advance of the
sale. In the event of identical bids, the earliest bid received will take precedence.
Employee Bidding
Employees of Phillips and our affiliated companies, including the auctioneer, may
bid at the auction by placing absentee bids so long as they do not know the reserve
when submitting their absentee bids and otherwise comply with our employee
bidding procedures.
Bidding Increments
Bidding generally opens below the low estimate and advances in increments of up
to 10%, subject to the Auctioneer’s discretion. Absentee bids that do not conform to
the increments set below may be lowered to the next bidding increment.
HK$1,000 to HK$2,000
HK$2,000 to HK$3,000
HK$3,000 to HK$5,000
HK$5,000 to HK$10,000
HK$10,000 to HK$20,000
HK$20,000 to HK$30,000
HK$30,000 to HK$50,000
HK$50,000 to HK$100,000
HK$100,000 to HK$200,000
HK$200,000 to HK$300,000
HK$300,000 to HK$500,000
HK$500,000 to HK$1,000,000
Above HK$1,000,000
by HK$100s
by HK$200s
by HK$200, 500, 800
(i.e., HK$4,200, HK$4,500, HK$4,800)
by HK$500s
by HK$1,000s
by HK$2,000s
by HK$2,000, HK$5,000, HK$8,000
by HK$5,000s
by HK$10,000s
by HK$20,000s
by HK$20,000, 50,000, 80,000
(i.e., HK$320,000, HK$350,000, HK$380,000)
by HK$50,000s
at the auctioneer’s discretion
The auctioneer may vary the increments during the course of the auction at his or
her own discretion.
3 The Auction
As noted above, the auction is governed by the Conditions of Sale and Authorship
Warranty. All prospective bidders should read them carefully. They may be
amended by saleroom addendum or auctioneer’s announcement.
Interested Parties Announcement
In situations where a person allowed to bid on a lot has a direct or indirect interest
in such lot, such as the beneficiary or executor of an estate selling the lot, a joint
owner of the lot or a party providing or participating in a guarantee on the lot,
Phillips will make an announcement in the saleroom that interested parties may bid
on the lot.
Consecutive and Responsive Bidding; No Reserve Lots
The auctioneer may open the bidding on any lot by placing a bid on behalf of the
seller. The auctioneer may further bid on behalf of the seller up to the amount of
the reserve by placing consecutive bids or bids in response to other bidders. If a lot
is offered without reserve, unless there are already competing absentee bids, the
auctioneer will generally open the bidding at 50% of the lot’s low pre-sale estimate.
In the absence of a bid at that level, the auctioneer will proceed backwards at his or
her discretion until a bid is recognized and will then advance the bidding from that
amount. Absentee bids on no reserve lots will, in the absence of a higher bid, be
executed at approximately 50% of the low pre-sale estimate or at the amount of the
bid if it is less than 50% of the low pre-sale estimate. If there is no bid whatsoever
on a no reserve lot, the auctioneer may deem such lot unsold.
4 After the Auction
Payment
Buyers are required to pay for purchases immediately following the auction unless
other arrangements have been agreed with Phillips in writing in advance of the
sale. Payment must be made in Hong Kong dollars by wire transfer, as noted in
Paragraph 6 of the Conditions of Sale. Cash and cheques are not accepted.
Credit Cards
As a courtesy to clients, Phillips accepts payment by credit card up to HK$800,000.
A processing fee will apply. For details on credit card payment please contact the
Client Services department at +852 2318 2000.
Collection
It is our policy to request proof of identity on collection of a lot. A lot will be released
to the buyer or the buyer’s authorized representative when Phillips has received full
and cleared payment and we are not owed any other amount by the buyer. After the
auction, all lots will be kept at our offices at Room 1301, 13/F York House, Landmark,
Central, Hong Kong.
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