Absentee Bid (also called Commission or Order Bid) - A bid from a buyer who cannot attend the sale.

Absentee Bid Form - Used by prospective bidders to leave absentee bids or to request a telephone bid. The printed bid form must be signed by the prospective buyer in order for the form to be accepted and executed. Available through Sloans & Kenyon’s Business Office, at the back of Sloan & Kenyon printed catalogues, and online (click on the Absentee Bid Form link, fill out and fax back at (301) 656-7074).

Addendum and Errata Sheet – Prepared after the publication of the sale catalogue, listing late additions to the sale, withdrawn items and correcting errors contained in the catalogue. Available in the gallery and Business Office during the exhibition and auction.

Appraisal – A valuation by a specialist of the worth of the property. An appraisal may be conducted for a variety of purposes, including auction, insurance and probate. The stated values may differ depending on the purpose of the appraisal. Sloans & Kenyon conducts both written and verbal appraisals. For questions on appraisals, please contact Stephanie Kenyon at (301) 634-2330, or at appraisals@sloansandkenyon.com.

Authentication – Verification by an outside expert that a work is by the artist to whom it has been attributed.

Bidding Increment – The amount by which the bidding on a lot is increased during the sale. A listing of standard increments is included in the catalogues and online in the Buyers section of this website.

Bidder Number – The number assigned to a client in order to bid in person at a sale. A client receives a new bidding number for each auction. To receive a bidding number a client must register for the auction with the Business Office or email us at bidders@sloansandkenyon.com.

Buyer’s Premium – A percentage of the lot hammer price payable by all buyers in addition to the hammer price. Consult the Terms & Conditions section of the website for complete details.

Client Number – A reference number given to each client, consisting of up to 10 digits.

Condition Report – Prepared by the specialist after examination of the object in question. The report covers such things as repairs, damage, and overall state of the object. The condition report is a guide for prospective purchasers and is not a warranty.

Consignment Agreement (Contract) Used to record information about the consignor and the objects consigned for sale. The completed contract is between the consignor and Sloans & Kenyon and is legally binding. It must be signed by the consignor and by a Sloans & Kenyon representative. This contract lists all fees and charges associated with consigning inventory to Sloans & Kenyon. No property can be consigned without the completed signed contract.

Consignor – The owner of the item being sold. The consignor can be a private individual, dealer, fiduciary or company.

Consignor Commission – Sloans & Kenyon charge to the consignor to sell the property. This commission is calculated on each lot sold in the consignment.

Estimate – A guide price for buyers based on a specialist’s view of what the object is worth at auction.

Exhibition – The time the gallery is open to the public to view the items to be auctioned. Dates and times are published on the website and in the catalogues and on listings and postcards associated with the sale.

Gavel – The small hammer used by the auctioneer; usually made of wood or ivory.

Hammer Price – The successful bid price of a lot as announced by the auctioneer, excluding Buyer’s Premium.

Insurance Charge – A small percentage charge to cover the cost of insuring the goods while in Sloans & Kenyon care. A consignor who chooses to insure the property himself/herself and provides a certificate of insurance will not be charged this fee.

Lot Number – A separate number assigned to each item in a sale. Lot numbers identify objects in the catalogue. When on exhibition, an object is tagged with its lot number and sale number.

Paddle – Individually numbered card, which is issued to each buyer who registers to bid in the sale. New paddle numbers are given for each sale.

Pass – If an item does not have any interest when it comes up for auction the auctioneer may pass the lot.

Phone Bid/Telephone Bid – Bidding by a buyer over the telephone through a member of staff in the salesroom. Phone Bidding can only be undertaken by trained staff members and only for lots estimated at $300 or more.

Prices Realized – A report of the sales results, lot by lot. Generally this report will reflect the buyer’s premium.

Rostrum (also known as Podium) Where the Auctioneer sits during the sale.

Sale Number – The identification number specific to each sale.

Specialist – An expert in a particular field.

Terms and Conditions of Sale – The guidelines under which the sale is conducted. Terms & Conditions are printed in all catalogues and are posted on the website.

Withdrawn Lot – An item which has been catalogued for sale, but which is subsequently taken back by the consignor or removed from the sale at the direction of the specialist.

Copyright 2005 Sloans & Kenyon Auctioneers and Appraisers ALL RIGHTS RESERVED.