HOW TO BID
The motivation to acquire a work of art is generated by the will of one’s heart than by the mind or by the pocketbook. But for a first-time collector, bidding can get intimidating.
The services we offer here at Alturaash make bidding easier and much more accessible for lovers of art.
Registration and Verification:
Please note that:
Estimates are based on an indicative market value of the lot as determined by Alturaash auction specialists. Our estimates are always listed in United States Dollars (USD).
The reserve price is the minimum price at which the lot shall be sold. It will remain confidential and will not be disclosed. It is always lower or equal to the lower estimated value of the artwork set by the auction house.
Buyer’s Premium & Applicable Taxes:
With our online auctions, you can bid directly from the comfort of your home, office, or on the move from anywhere in the world. Once you’ve registered with us, click on ‘Bid Now ’ to start placing bids. Bidders are then required to register for the very particular sale/auction in which they wish to participate. Once this request has been processed by an Alturaash’s executive, the bidder will receive an e-mail confirmation of bidding access.
Each online auction commences at 10:30 am UAE time, on the date mentioned in the catalog in ‘Upcoming Auctions ’.
Please Note: Alturaash uses predetermined bidding increments – please refer to the terms & conditions of each sale before bidding. Also, although you can watch the auction as a guest user on our website in order to bid, you must be signed in and approved to bid by our executives.
Proxy / Maximum Bid:
Once an auction catalog goes LIVE, a Proxy or Maximum Bid can be placed on any lot by visiting the upcoming auction tab on the website, selecting the catalog of interest, and clicking on the ‘Proxy Bid ’ button placed next to the lot on which you wish to bid.
You can place a proxy bid directly on the website, either before the auction has started or during the auction. The auction software will automatically bid on your behalf till the maximum limit of your proxy bid has not reached.
Opening bid is the value at which the bidding on a lot begins. It is at times lower than the lower estimate also.
Once a bid has been placed, it cannot be canceled. Only an Alturaash executive or auctioneer has the right to cancel any bids in order to protect the efficacy of the bidding process. Each bid you place enters you into a binding contract with Alturaash.
Bidding increments will be calculated as shown in the bid increment table below:
USD 1,000 to USD 2,000
by USD 100
USD 2,000 to USD 4,000
by USD 200
USD 4,000 to USD 10,000
by USD 500
USD 10,000 to USD 20,000
by USD 1,000
USD 20,000 to USD 40,000
by USD 2,000
USD 40,000 to USD 100,000
by USD 5,000
USD 100,000 and upwards
by USD 10,000
Your ‘Place Bid ’ window will display the next (minimum) valid bid based on this predetermined bid increment.
Bid history displays the last five bids recorded for each lot in the auction. It will not be displayed once the auction has closed.
The currency of Bidding:
Bids are placed and accepted in United States Dollars (USD). Payments received in any other currency will be converted to USD as per our bank’s sheet rate on the day of the transaction.
Bid Closing Schedule:
Personalized Winning Bid History:
All registered members of Alturaash can log in to their account on our website, opening: 'My Account ’. Their homepage will have a tab/link titled: ‘Winning Bids ’, which will allow you to review the lots which you have won at bidding (successful bids) and the lots in which you were an under bidder (unsuccessful bids).
Payment & Collection of your artwork:
A combined invoice will be generated and shared with you via email after you’ve successfully bid on one or more lots.
Customs Duty (Inward):
On certain lots that are imported against a temporary import permit, any purchaser within the GCC will be required to pay 5% customs duty plus VAT of 5%, payable at Dubai port. These lots will be marked and detailed accordingly for the information of prospective bidders.
Invoicing & Payment:
Bank Transfer: You may electronically transfer funds to our account. When doing so, please quote the sale details along with the lot number and invoice number as a reference. For payments made by bank transfer, all mandatory bank surcharges are to be payable by the remitter himself.
Value Added Tax (VAT):
VAT of 5% will be applied to Alturaash’s commission on purchases from within the UAE. No VAT is applicable on purchases from anywhere in the world except for UAE.
Customs Duty (Outward):
It is the buyer's responsibility to pay any kinds of duties, taxes, and/or levies applicable at the destination port of shipment.
Packing, Shipping, and Insurance:
The winning bid does not include any packing, insurance, shipping, or handling charges, if required by the buyer these services would be invoiced additionally by our respective service providers, at the preferential rates applicable for our clients. The buyers are allowed 15 days of storage after the end of the auction, subsequent to which charges for storage will apply as per our negotiated rates with our logistics provider.
If you are interested in consigning works for our upcoming auctions, get in touch with our executives at:
+971556881407 | firstname.lastname@example.org
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