A specialist’s written detailed report of a lot’s present condition available upon request. If a condition report has already been prepared and is available for viewing, they can be located on an individual lot page in the bottom tab labeled “Condition Report.” Accompanying images can also be requested.

A bid/bids executed by the auctioneer on behalf of a client, according to a maximum amount specified by the bidder prior to the auction. Absentee bids on lots can be submitted via our website up to 24 hours in advance of the auction and through Freeman’s Live on the day of sale.

The price at which an item is sold at auction and announced as the auctioneer lowers the gavel. Applicable fees such as buyer's premium and sales tax are added to this amount when totaling a buyer’s invoice.

A piece’s present condition. See “condition report.”

A predetermined amount by which a bid will be raised each time the current bid is outdone. Our standard bidding increments: $25 until $500 is reached $50 until $1,000 is reached $100 until $2,000 is reached $200 until $3,000 is reached $250 until $5,000 is reached $500 until $10,000 is reached $1,000 until $20,000 is reached $2,000 until $30,000 is reached $2,500 until $50,000 is reached $5,000 until $100,000 is reached Over $100,000: auctioneer’s discretion.

An additional fee added to the successful bid price and is payable by the buyer as part of the total purchase price. The buyer’s premium is 27% of the hammer price up to and including $1,000,000; 21% of any amount in excess of $1,000,001 up to and including $4,000,000; and 15% of any amount in excess of $4,000,001.

A legal contract drawn up between the consignor and vendor outlining the terms of sale and any associated fees, including seller's commission.

An expert’s valuation of an item’s possible selling price at auction, presented as a monetary range. Preliminary estimates are generally set at the time of consignment and are subject to revision pending further research and firsthand inspection. Pre-sale estimates are determined according to an item’s rarity, provenance, and condition, and reflect current market trends and recent auction results for comparable items. The final selling price may be higher or lower than this band depending on demand.

The price an item sells for, totaling the hammer price and the buyer’s premium.