How to bid in an online auction
General Information
Usually in the online auctions we are offering more affordable objects with attractive estimates.
You can examine the lots of the auction in-person in our Athens or Thessaloniki office. The location of each lot is stated in the description of the lot in our website.
Apart from the physical examination of the lots, we offer virtual viewings – contact us to arrange your private virtual appointment to view the auction via zoom or what’s up.
Registration – Login
To bid in our online auctions you will have to login or register as a new customer in our website.
- Click “Login” on the top right.
- Fill in your personal details and click “Register” or fill in your username and password if you are an existing customer.
- If you completed you registration with us, you will receive a verification email at the email address that you registered. You will have to click the link to verify your account (in case you don’t see the email, please check the spam folder or contact us).
By verifying your email, you can place your bid for the lot/lots you wish to acquire.
For transparency, as a new customer, you may be asked to provide a proof of ID and a proof of address.
The registration process takes a few minutes but we suggest to do it well in advance of the auction.
During the Online Auction
You can either submit bids individually during the auction process or you can submit a maximum bid.
If you submit a maximum bid the system will bid for you until you are the highest bidder or your maximum bid has been reached.
For example:
-Starting price: 100€.
-Bidder A has submitted max bid of 200€.
-Current bid is 100€.
-Bidder B submits a max bid of 140€ and there are no other bidders until the end of the auction.
-Current bid is 160€ and the lot is sold to Bidder A (who is the highest bidder).
Of course you can follow the bids on the “Bids” section next to the description of each lot.
If your bid is surpassed you will be notified by email.
If two maximum bids are the same, the lot will be sold to bidder who first submitted the maximum bid.
If a bid is submitted within two minutes of the expected end of a bidding round at an Online Auction, then the bidding round is extended by two minutes after the latest bid has been submitted. These two-minute extensions will continue until no bid is submitted within the two-minute extension.
After the Online Auction
Amounts added to the hammer price
There is a 15% + 24% GR VAT (a total of 18.6%) buyer’s premium added to the hammer price.
There might be extra amounts added to the hammer price such as the Artist’s Resale Right, please read our Terms & Conditions or contact us.
Payment
The invoice has to be paid in full within 14 days after the end of the auction.
- With a major debit/credit card online or in person in one of Loudos Auctions locations.
- By cash (no more than 500€ according to the Greek Law).
- By bank transfer into Loudos Auctions Greece bank account.
Pickup or Delivery
You can pickup your lots from one of our locations in Athens or Thessaloniki, the location of each lot can be found in the description of the lot in our website.
If you cannot pick up your purchase yourself, you can request in-house packing and shipping to your address or contact a professional courier/shipper.