Auction glossary
After-sale
Also known as · Post-sale · After-sale offers
- Definition
- The period immediately after an auction during which unsold lots can still be bought, usually by offer at or near the reserve and subject to the consignor's agreement.
After-sale offers often come from underbidders or from clients who missed the sale. The house passes offers on to the consignor, or accepts them within an agreed authority, and invoices them like a normal sale, typically with the same buyer's premium.
In Selloff, unsold lots can be kept open to offers. Each offer is shown next to the lot's estimate, reserve and consignor, and staff accept or refuse it in one click.
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