# 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.

- Level: Practitioner
- Length: 60 minutes
- Exam questions: 10, pass mark 80%, up to 3 attempts
- Certificate: valid for 12 months

## 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

1. [Read the conditions of sale](https://auctionfinder.fyi/academy/compare-auction-terms-before-you-bid/read-the-conditions-of-sale.md) (14 minutes)
2. [Calculate tiered and minimum premiums](https://auctionfinder.fyi/academy/compare-auction-terms-before-you-bid/calculate-tiered-and-minimum-premiums.md) (16 minutes)
3. [Whose terms apply on a platform](https://auctionfinder.fyi/academy/compare-auction-terms-before-you-bid/whose-terms-apply-on-a-platform.md) (14 minutes)
4. [Set a maximum bid from your budget](https://auctionfinder.fyi/academy/compare-auction-terms-before-you-bid/set-a-maximum-bid.md) (16 minutes)

## 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.

Also on the [web page](https://auctionfinder.fyi/academy/compare-auction-terms-before-you-bid).

> Beware of auction fraud and shill bidding: never wire money or pay by gift card to a seller you cannot verify, and walk away when a price is run up by a bidder who never buys.