Compare auction terms before you bid

A practical method to read the conditions of sale, calculate tiered and minimum premiums, know whose terms apply on a platform, and set a maximum bid from your budget.

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About this course

Level: Practitioner
Access: Membership, $499.00 a year
Time: 1 h
Lessons: 4
Pass mark: 80%
Exam attempts: 3
Certificate valid for: 1 year

What you will learn

Find and read the conditions of sale for the exact sale you want to bid in.
Calculate a tiered buyer's premium and the effective rate on a lot.
Apply a minimum premium per lot and a fixed fee to the cost of a cheap lot.
Say whose terms apply when you bid through a platform or an aggregator.
Calculate a maximum bid from an all-in budget.

Lessons

Read the conditions of sale 14 min
Calculate tiered and minimum premiums 16 min
Whose terms apply on a platform 14 min
Set a maximum bid from your budget 16 min

Questions

Do I need a calculator for this course?

A calculator helps. The lessons show each step. You can also use the auction total-cost calculator on this site.

Are the fee figures in the lessons current?

Each figure from a real house or platform shows the date it was checked. Rates change between sales, so read the terms of the sale before you bid.

Does passing the exam mean I will pay less at auction?

No. The certificate of completion records that you passed this site's exam. It shows that you learned a method. It does not change any fee.