How to avoid overbidding at auction
Competitive bidding is exciting, and that's exactly when people spend more than they meant to. A limit set in advance, in total pounds, is the best protection.
1. Decide your total before the sale
Decide the most you're willing to pay including every fee, not the most you'll bid. It's much easier to do this at home than in a busy room.
2. Turn it into a hammer limit
Work backwards through the fees to the highest hammer price that keeps you within your total. For a £1,000 total with a 20% premium, a 4% online fee and VAT on both, that's £776.40. See how to work out your maximum bid.
3. See what "just one more bid" costs
Because the fees grow with the hammer price, a small overshoot costs more than it feels like:
| Hammer price | Total | Over your £1,000 limit |
| £776.40 (your limit) | £1,000.00 | - |
| £800 | £1,030.40 | £30.40 |
| £850 | £1,094.80 | £94.80 |
4. Make the limit hard to break
- Write it down and have it in front of you.
- Leave a commission bid at your limit, so you can't be tempted to go higher on the day. See commission bids explained.
- Ignore what you've already bid. Bidding further to "make it worthwhile" is how people overpay.
- Be ready to let it go. There will be other auctions and other lots.
5. Watch the whole sale, not one lot
If you're bidding on several lots, keep a running total so that a win on one lot doesn't quietly use up the budget for the rest. See how to budget for several lots.
How BidCalc helps
Budget mode turns your total into a hammer limit in seconds. During the sale, the lots list keeps a running total with fees included, so you can see how much room is left before you raise your hand.
Find your limit for a £1,000 budgetGeneral 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.