New to auction? Here are some terms and denotions that are useful. Please spend some time to look through and reach out to us at firstname.lastname@example.org if you have any questions regarding our auctions.
1. Lot: This refers to the item on auction. It can be a single bottle or a case and will be made known in the description.
2. Opening Bid: This is the lowest bid amount the particular lot will accept.
3. Increment: This refers to the next mimimum bid amount over the current bid that will be accepted for a particular lot. This is shown as Minimum Bidding Amount Allowed in the lot description. Our increments are set as follows:
|Lot Value||Per Incremental Bid|
|Between S$500 and S$1,000||S$20|
|Between S$1,001 and S$5,000||S$50|
|Between S$5001 and S$10,000||S$100|
4. Proxy Bid: If you want a particular lot but are too busy to monitor your bid, you can instruct us to bid automatically on your behalf by setting your upper limit. Our system will put in your bid for you at the current bid + 2 increments, up to the limit you set. For example, if the lot you want is currently at S$200, you can set a proxy bid at S$300. Our system will automatically put in a bid for you at S$220. If someone counter bids at S$230, your next bid will go in at S$240. To enter your proxy bid, simply enter the amount you will like to bid up to using the Place My Bid button. Ensure the entered amount is at least 2 increments above the current bid.
5. Hammer / Strike / Knock Down Price: This refers to the price that the auction lot is sold for. This exludes the Buyer's Premium that is payable on top of the hammer price.
6. Buyer's Premium: By participating in our auction, you agree to pay us a commission equivalent to a percentage of the hammer price. The typical auction premium by auctioneers is between 20-25%. Please refer to the actual percentage shown in the Current Auction page for the Buyer's Premium charged for that particular auction. The Buyer's Premium is subject to prevailing Singapore GST rate.
IN: Into neck. This suggests the wine is stored a prestine conditions. More common in wines below 15 years old.
TS: Top shoulder. This is normal for wines above 15 years old.
VHS: Very high / Upper mid shoulder. This is normal for wines above 15 years old.
MS: Mid shoulder. Possible oxidation. Price is reflective of potential risk.
LS: Low shoulder. High risk of oxidation. Price is reflective of risk.
BS: Below shoulder. Most possibly undrinkable. Price is reflective of condition.
SL / SSL: Wine stained / slightly stained label.
DL: Scruffed, torn, nicked, moisture damaged or written on label.
RC: Raised cork. This refers to the cork being above the top rim of the bottle.
DC: Depressed cork. This refers to the cork being below the top rim of the bottle.
CAP: This refers to the capsule being torn, corroded, oxidised or broken.
OWC: Original wooden case/carton.
OC: Original cardboard carton.
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