The Complete Guide to Bidding in Live Auctions

A live auction is a sale that takes place in a real-time, physical saleroom. Please note these are not exclusive to Artsy. 

There are two portions of the sale:

• First, there is a pre-sale “preview” period where you can browse the works and place advanced bids. The auction page will look like this, please keep in mind the live start time (highlighted in a red box below):

• Second, there is the live portion that is presented in Artsy’s Digital Saleroom. The live portion is facilitated by an auctioneer, and Artsy bidders may be bidding against individuals in the room, on the phone, or on other online platforms. Lots are auctioned off sequentially and each lot is open for bidding for a period of time (usually around one minute, but this timing can vary). Right when live bidding starts, the "Register to Bid" / "Registration Closed" button will change to say "Enter Live Auction."  Click on "Enter Live Auction" to watch and engage with the live bidding. Artsy’s Digital Saleroom will look like this:
  

There are multiple ways to place bids in a live auction on Artsy; however, the recommended bidding tactics for best chances of winning is a combination of both maximum and live bids:

Fun Fact: In 2021 live auctions, Artsy bidders were twice as likely to win their lot of interest when placing live bids.

• Incremental Bids: When you find a lot you are interested in, one option is to set your bid at the next available bidding increment. If someone outbids you, you can return to the pre-sale auction on Artsy to place a higher bid to stay in the lead. If your incremental bid is outbid during the live portion, you will NOT be notified. 
• Note: If you are immediately outbid after you submit a bid, it is because another user has already placed a maximum bid at or higher than your bid amount. For more information, please read “Why am I being outbid immediately?”

• Maximum Bids: You can place a maximum bid on the lot page anytime prior to your lot opening in the live Artsy Digital Saleroom. Your max bid will be prioritized ahead of other bidders who join to place bids after you. Bids will be executed in the room on your behalf for the lowest competitive price up to, but not beyond, your defined maximum bid amount. In other words, after you place your max bid, Artsy will do the work of bidding for you while you sit back and relax during the auction. 
• We highly suggest you place a maximum bid as early as possible during the pre-sale portion of the auction. Please see animations on how to place a maximum bid:

[Left: Desktop View, Right: App View]

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• Live Bids: Bidding live doubles your chances of winning a lot! Placing live bids beyond your pre-sale maximum bid will increase your chances of winning your lot(s) of interest. To watch what happens with your lot(s) of interest and bid in real-time as the auction unfolds, you can use Artsy’s Digital Saleroom and simply join in at any point to bid live in the auction to wait for your lot(s) of interest to open and then click the “Bid” button in real time. 
• Please see animations on how to live bid, once your maximum bid has been executed on your behalf and your then outbid in real time: 

[Left: Desktop View, Right: App View]

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Important: Please note that when your maximum bid does not match up with the footed increments during live bidding, the auctioneer retains all discretion and rights to “skip” an increment and execute your highest bid amount in order to not lose your maximum bid amount. For example, if you placed a max bid $18,000 and the lot opened at $15,000 with a bid to you, then another bid from the floor came in $16,000, the auctioneer might skip increment $17,000 and jump to give you the winning bid at $18,000. If they did not skip that $17,000 increment, they would have awarded you the bid at 17,000 and someone else could have bid $18,000 and won the lot instead of you (even when you had bid in advance at $18,000).

Why live bidding works and expectations for live auctions:

• Competitive Bidding: There are a variety of bid types competing in a sale room: Phone bids, in-person bids, absentee bids, and other online bids. As such, being the highest bidder on Artsy prior to the live auction start does not guarantee that there will be no further interest in the sale room when your lot is up on the block. In most live auctions you can expect a high level of real time bidding activity and tuning in through Artsy’s live bidding console allows you to watch this activity unfold to ensure that your bids are truly competitive.
• Expectations for Winning Bid Value: Auction estimates serve as a general guide for where the auction specialists expect a lot to sell. That said, while a max bid within an estimate range should offer a chance of success, lots can also achieve hammer prices above their pre-sale estimate. We therefore encourage you to place your max bid within estimate range, if possible, and also join live to ensure that your bid level is competitive with those of other interested bidders. As a reminder, bids will be placed on your behalf for the lowest competitive price up to, but not beyond your defined maximum bid amount.

[Left: Desktop View, Right: App View]

Tips for preparing to bid live:

• Not at a desktop computer or laptop during the live portion of the auction? Download the Artsy app to continue bidding while on-the-go. For more information, please read “How to Download Artsy's Mobile App”
• You can track your bids via the MyBids section of the Artsy App. Learn more by reading “How can I keep track of auctions I’m bidding in? Will you send me emails or alerts?”
• Save works you’re interested in by clicking “Watch lot” on the lot page. 
• Turn on your notifications in the Artsy App and in your phone settings. If you have saved or bid on a work, you will receive an email reminder approximately 8 lots before your lot of interest comes up "on the block" (excluding the first 10 lots of a live sale). For more information, please read “How do I manage notifications from the Artsy app?” and “What notifications will I receive when bidding in an auction?”
• Add the live start time to your calendar as a reminder to tune in live on time. For more information, please read “Add Artsy Auctions to Your Calendar”
• Log in and get set up on the digital sale page at the very beginning of the auction so you’re ready to bid when the time comes. Tune in a few lots before your lot of interest is up on the block to get the hang of the auctioneer’s speed & rhythm.
• If you have any questions about live auctions or live bidding strategies, please feel free to reach out to our team at specialist@artsy.net