# Knock-down

> The moment the auctioneer brings down the hammer and declares a lot sold to the highest bidder. In most legal systems, the knock-down concludes the contract of sale at the hammer price.

- URL: https://www.selloff.auction/glossary/knock-down
- Language: English
- Also known as: Fall of the hammer, Hammer fall
- Last updated: 2026-10-07
- Français: https://www.selloff.auction/fr/glossaire/adjudication.md

## Definition

The moment the auctioneer brings down the hammer and declares a lot sold to the highest bidder. In most legal systems, the knock-down concludes the contract of sale at the hammer price.

Before the knock-down, the auctioneer usually gives a final warning so that no bidder is taken by surprise. The clerk records the hammer price and the paddle number at that moment.

In Selloff, recording the result marks the lot as sold, so no further bids or offers are accepted on it. Invoicing then happens from the bidders to invoice screen.

## Related features

- [Live auctions & online bidding](https://www.selloff.auction/features/live-auctions.md): Run the room from the auctioneer's console and take live online bids through Selloff Live Auction, with every hammer price recorded in Selloff.
- [Absentee & phone bids](https://www.selloff.auction/features/bid-recording.md): Record absentee, phone and OR bids in the book, check them against your bid increments, confirm them to clients by email and print the bid book for the room.

## Related terms

- [Hammer price](https://www.selloff.auction/glossary/hammer-price.md): The price at which the auctioneer knocks a lot down to the winning bidder, before the buyer's premium, taxes and other charges are added. It is the basis for both the buyer's invoice and the consignor's settlement.
- [Auctioneer](https://www.selloff.auction/glossary/auctioneer.md): The person who conducts the sale from the rostrum: announces each lot, takes bids from the room, the telephones, absentee orders and the internet, and knocks the lot down to the highest bidder.
- [Clerk](https://www.selloff.auction/glossary/clerk.md): The member of staff who records the sale as it happens: the hammer price and the buyer's paddle number for each lot, as well as unsold and withdrawn lots. The clerk's record is the basis for invoicing.