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Digital Subscriptions > Antiques Trade Gazette > 2291 > Best make it a flamboyant bid

Best make it a flamboyant bid

When the hammer comes down on your bid, that means the lot is yours. Most of the time this is true, but not always. The auction process and the auctioneer are always fallible.

Generally it is perfectly true that a contract is made once the hammer has fallen. However, this is subject to auctioneer terms and conditions.

The problem arises when, after the hammer has fallen, an under-bidder or potential bidder suddenly realises that he or she has lost his chance and asks for the bidding to be reopened. The auctioneer, for whatever reason, chooses to reopen the bidding. Under protest, the aggrieved purchaser, who thought he had the lot in the bag, re-enters the bidding in order not to lose the lot, and eventually secures the lot at a very much inflated price.

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About Antiques Trade Gazette

Antiques Trade Gazette is the essential publication for everyone with a serious interest in art, antiques and collectables. Every week it is packed with up-to-the-minute news on the market, with individual items beautifully illustrated throughout. Since 1971 it has been the most reliable source of information on what is really happening at auctions in the UK and around the world. Each issue is filled with auction advertisements and detailed auction reports written by expert journalists. The Dealer’s Diary section keeps readers constantly updated on what is happening at the fairs and markets and in the galleries and shops. Market professionals and serious collectors throughout the world rely on ATG to keep them informed on developments and issues which shape the art market. It is here that they learn about the prices achieved at auction in every area - from antiquities to pop memorabilia, from impressionist paintings to Chinese art. With 500 or more art objects pictured, every issue is a treat to the eye and a visual education. Whatever the topic Antiques Trade Gazette is well-informed, up-to-date and entertaining.

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