Auction glossary
Auctioneer's book
Also known as · Bid book · The book
- Definition
- The printed or on-screen list the auctioneer uses on the rostrum, showing for each lot the absentee bids and telephone bookings. It lets the auctioneer execute written bids fairly and in the right order.
The book is prepared as late as possible before the session so that it includes every absentee bid received. It must stay confidential, because it reveals clients' maximum bids.
In Selloff, the bid book is generated for a whole sale, one session or a range of lots, for standard or live bids.
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