Auction glossary
Starting price
Also known as · Opening bid · Starting bid
- Definition
- The amount at which the auctioneer opens the bidding on a lot, or the minimum first bid accepted online. It is often set below the low estimate to encourage bidding.
Some houses print the starting price in the catalogue; others publish only the estimate. In fixed-price sales, the starting price is the selling price.
In Selloff, each lot has a starting price, and a sale-specific starting price can replace it when a lot is re-offered. Sales can be set to accept or refuse bids below the starting price when they arrive from online platforms.
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