Auction glossary
OR bid
Also known as · Either/or bid · Alternative bid
- Definition
- An absentee bid placed on several lots with the instruction that the client wants to buy only one of them. Once one lot has been won, the remaining bids in the group no longer apply.
OR bids suit collectors who want one example of an object offered several times in the same sale, such as the same coin in different grades. They need careful handling by the clerk, because the outcome of one lot changes the bids on the next.
In Selloff, OR bids are recorded in a dedicated section of the bidder's record.
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