Commission (absentee) bids explained

A commission bid, also called an absentee or maximum bid, lets you leave the highest hammer price you'll pay and have the auctioneer bid for you up to that amount.

How they work

You tell the auction house the most you're willing to bid on a lot. On the day, the auctioneer bids on your behalf, only as much as is needed to win. UK terms typically say commission bids are executed at the lowest price possible, taking account of the seller's reserve and any competing bids. If the lot sells for less than your maximum, you pay less.

Your limit is the hammer price

This is the part that catches people out. The maximum you leave normally excludes the buyer's premium, VAT and other fees. It's your top hammer price, and the fees come on top. So your commission bid has to be worked out backwards from your budget.

Setting one from a budget

Say your total budget is £1,000, and the premium is 20% plus VAT (a factor of 1.24):

1. £1,000 ÷ 1.24 = £806.45
2. Round down to a valid bid step. If the steps are £50, that's £800.
3. Leave £800 as your commission bid.

Things to check in the terms

• Deadlines. Some houses must receive commission bids by a set time before the sale.
• Ties. If two buyers leave the same maximum, the house commonly favours the earlier one, so leaving it early helps.
• Liability. Some houses say they'll use reasonable efforts to carry out your bid but accept no liability if they fail. For an important lot, confirm that your bid has been recorded.
• Platform surcharges. Some houses add an online fee if you leave the bid through a third-party platform. Leaving it directly may avoid it, so check.

General information only, not tax or financial advice. Auction houses set their own fees and terms, so always check the conditions of sale and confirm the details with the auction house before you bid.