The words you will meet at LiveBrandAuction, from hammer price to paddle, and what they mean in our sales.
Always Open
LBA Japan · Always Open, our permanent online sale, with new lots every week. A lot is awarded 24 hours after its last bid; every new bid restarts the clock.
Auctioneer
The person who runs the live sale and decides bid increments, the validity of bids and the successful buyer.
Bidder approval
Our team checks every new account before its first bid.
Bidding currency
The currency you bid in online, set from the country on your account. On the Hong Kong sale, prices in currencies other than HKD include shipping and import duties. Currencies by country →
Collection
Picking up your lots at our Hong Kong saleroom, free of charge, within the period we tell you.
Condition grade
Our condition rating from N (new) to BC (needs repair). It describes condition, not authenticity. See the grading guide →
Consignor
The owner who entrusts a piece to LiveBrandAuction to be sold.
Ctag
Our item reference, for example C398118. Quote it when you write to us about a lot.
Hammer price
The winning bid accepted for a lot. Your invoice adds the 5% participation fee and, where it applies, shipping. See past hammer prices →
Invoice
Sent by email for the lots you win only. Payment is due within 3 business days.
Live room
Where the Hong Kong sale is shown live online. It needs its own free account, separate from your website account.
Live sale
The Hong Kong auction on the 5th of every month at 10:00 Hong Kong time, in our Tsuen Wan saleroom and online. Lots are presented one by one.
Lot
One item (or set of items) offered in a sale, with its own lot number, photos, description and condition grade.
Outbid
Another bidder placed a higher bid. In the room, a pre-bid can only be outbid by a bid at least 10% higher than the pre-bid (one increment more is not enough). We email you when you are outbid online.
Paddle
The numbered card you raise to bid in the saleroom. It is included in the HKD 200 attendance fee, with lunch.
Participation fee
Also called buyer's premium: 5% of the hammer price, added to the invoice of every lot won at the Hong Kong sale.
Pre-bid
An online bid placed on the Hong Kong catalogue before the live sale. Pre-bids close at 09:00 Hong Kong time on the 4th and are carried into the live sale.
Proxy bidding
Our staff bid for you up to the maximum you set for each lot. Lots won this way carry an extra 2% of the hammer price.
Reserve price
A confidential price set for each lot. You may bid below, at or above it; some lots sell below their reserve, depending on the consignor.
