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Absentee Bid
A way to get people who can't or don't want to attend an auction to participate in the auction. Absentee bidding can also be called "written", "trusted" or "appointed" bidding. Bidders only need to fill out and submit the absentee bidding form.

Appraisal
A formal valuation of the fair market value and/or the amount of insurance for a particular property. Fair market value refers to the price that Sotheby's estimates may be at the auction; the amount of insurance reflects the cost we think is necessary to repay the item. When the valuation department conducts the price assessment, it compares your items with similar items sold recently, but the price is not necessary. Even if there is no formal written evaluation, you can obtain the valuation data before the auction.


Artist resale rights (also known as "recourse rights", Artist Resale Right or Droit de Suite)
According to the “Artist's Resale Right Directive” of the European Union, the United Kingdom has also introduced this regulation. Under certain conditions, artists of the living artist are sold in the EU or UK each time through art market professionals. All have the right to receive resale rights. If the auction price (excluding buyer's commission and VAT) exceeds 1,000 Euros, Sotheby's will charge the buyer a resale premium on behalf of the artist. Buyers who purchase any items that are eligible for "Art Artist Resale Rights" are required to pay resale entitlements, which will be included in their invoice amount. Please refer to the "Artist Resale Rights Matrix" for more information.


Status (As Is)
All auctions are sold at the time of the auction, ie together with their existing defects and defects. We encourage interested buyers to carefully check each item before bidding. When the valuation department conducts the price assessment, it compares your items with similar items sold recently, but the price is not necessary. Even if there is no formal written evaluation, you can obtain the valuation data before the auction.

Auctioneer (Auctioneer)
A well-trained professional who is responsible for hosting the entire auction, and the auctioneer will usually briefly introduce the item before auctioning it. Once the bid is started, other bidders can raise a higher bid. Bidders can visit the auction site or bid on the phone or online. The auctioneer can also bid on behalf of the absentee and determine when the auction ends. When a piece of cultural relics is successfully sold, the auctioneer will announce a "deal". However, if the item does not reach the reserve price or there is no bidder, the auctioneer will announce the "flow".


Bid (Bid)
The prospective buyer indicates to the auctioneer during the bidding period that he/she is willing to pay the amount of the purchase.

Bid Increment
The amount of bids raised by the auctioneer for each bid. In general, the auctioneer will require a bid increase of approximately 10% over the previous call price. For example, if the bid starts at $5,000, the subsequent bid should be $5,500, $6,000, $6,500, and so on. The actual amount will usually be rounded off or determined by the auctioneer.


That is to vote for BIDnow
BIDnow is the Sotheby's online bidding service, which is applicable to all auctions except foreign wine. Sotheby’s through the Bidenow, live broadcast of the auction at sothebys.com, customers who have previously registered their bids can bid for the same auction as the people at the auction site.


Streaming (Bought-In)
If no one bids on the lot or the bid does not reach the reserve price, there will be a "flow", that is, the item cannot be sold and remains in the possession of the original holder.

Buyer's Premium
The commission payable by the buyer at the transaction price. Please refer to Sotheby's buyer commission rate.

Catalogue (Cataloguing)
The actual information of the lot, such as the name of the artist or creator, a detailed description of the item, the year of production, the source (the record of the holder), the important exhibitions that have been attended, and the publications that have been described. These materials will be published in the print and electronic auction catalogue.

Status Report (Condition Report)
Sotheby’s experts write a written description of the state of the art before the auction.

Business Rules (Conditions of Business)
This important document explains Sotheby’s and the client’s agreement to sell the auction item to the buyer. Please be sure to read these terms carefully before bidding.

Principal (Consignor)
Transfer the item to Sotheby's for sale to the property owner.

Designation
In the description of each item in the catalogue, the principal of the auction item is sometimes identified through the title column. The client may decide whether or not to use the title and may choose to indicate the identity of the current holder by name or title, such as "property of a well-known European collector."

Valuation (Estimate)
Each lot has a minimum and maximum valuation, which is estimated by Sotheby's experts to determine the range of prices that the lottery may reach. Valuation is based on verification of the item and the record of the similar item in the recent auction. The valuation will be published in electronic or printed catalogues, not only as an important preliminary reference for prospective buyers on the value of the auction, but also as a basis for setting the reserve price.


Exhibition History (Exhibition History)
List the museums or galleries that a particular lot has participated in, and the record of the exhibits will have a certain impact on the value of the artifacts.


Expert (Specialist)
An expert who is affiliated with an auction department and has expertise in a particular collection. Sotheby’s experts are often outstanding scholars, many of whom publish books, lectures, and guide or plan international exhibitions in their professional fields.

Fair Market Value
The vocabulary frequently used by appraisers refers to their judgments and opinions on the possible selling price of voluntary sellers selling items to voluntary buyers. Since the auction process is open to all bidders, the auction price is a measure of the “fair market price”.

Auction Officer Warning (Fair Warning)
The auctioneer sometimes warns that the lottery is about to be destroyed, reminding the bidder of the last chance to bid, and if no one bids later, the auctioneer will kill the announcement of the auction.


Gavel
The auctioneer announced the raft used at the end of the auction.

Guarantee (Guarantee)
In a few cases, Sotheby’s will guarantee the payment of the purchaser’s items regardless of whether the auction price of the lot has reached the reserve price. The warranty may be provided by Sotheby's, a third party, or by Sotheby's with a third party. Third parties that provide full or partial margin may benefit from the successful sale of the insured item, but may suffer losses if the sale is unsuccessful.


Guarantee Bar (Guarantee Line)
The auction catalogue will be highlighted in bold to highlight important information such as the authenticity of the work, the name of the artist or creator, and the source of the item.

Hammer Price
The bid price of the lot in the auction is the highest bid price accepted by the auctioneer and is the final selling price, but does not include the buyer's commission.

Killing (Knocked Down)
The auction house language refers to the fall of the raft and the end of the auction, such as "the auction sold for $1 million."

LiveBid
Online auction service for Sotheby's Wine Auction.

Auction item (Lot)
A piece or group of items sold in one unit at an auction.

Number plate (Paddle)
The number plate will indicate the number of the buyer who registered to participate in the auction. If you are interested in bidding for an item, please raise the number plate until you are sure the auctioneer sees it. If you win the auction, we will record your bid and the number of the number plate. You must bring the number plate to the payment office to pay the payment.

Flow mark / under the standard (Pass / Unsold)
Indicates that the item was not sold at the auction because it did not reach the reserve price.

Photography (Photography)
Sotheby’s will conduct professional photography for each lot of the auction for recording and promotion. These photos will be published in our electronic and printed catalogues and are an important reference for buyers when purchasing their favourites.

Presale Exhibition (Presale Exhibition)
A few days before the auction, Sotheby’s will publicly display all the lots in the auction and set up experts to answer any questions you may have. Pre-shows are open to the public for free, usually ending at 1 pm the day before the auction. Please refer to "Auction Information" for date, time and location.

Provenance
Source is an important part of the identification process, with the goal of tracing the source of the item and the owner (if possible). The source of the lot has a huge impact on its value.

Reserve or Reserve Price
It is the lowest transaction price set by the client and Sotheby's, and is absolutely confidential. The reserve price will not exceed the minimum estimate. If the auction does not reach the reserve price at the end of the auction, the lot will not be sold.

Auction results (Results)
At the end of each auction, Sotheby’s will immediately post online results in local currency. In general, the auction results will include the drop price plus the buyer's commission.

Auction Number (Sale Number)
Each Sotheby's auction has a unique, non-repeating number to distinguish between similar auctions before or after. The English letters at the beginning of the auction number represent the auction location: "L" for London, "N" for New York, and so on. The auction number will be displayed in many places, such as the cover of each electronic catalogue and printed catalogue.

Seller's Commission
The commission paid by the principal to Sotheby's will be deducted from the transaction price.

Telephone Bidding
Many buyers like to bid on behalf of the Sotheby's representative at the auction site.

Valuation
Sotheby's experts will prepare detailed descriptions of the items and current values. The valuation is not the same as the pre-auction valuation. Valuations have many uses, including charitable donations, secured loans, estate taxes, estate arrangements, and insurance.


缺席競投 (Absentee Bid)
讓無法或不想出席拍賣會的人參與競投的一種方式。缺席競投又可稱為「書面」、「委託」或「委任」競投,競投人只需填寫並提交缺席競投出價表便可。

鑑價 (Appraisal)
對特定財產之公平市值和/或保險金額的正式估價。公平市值是指蘇富比估計物品在拍賣會上可能獲致的售價;保險金額則反映我們認為償還物品所需的花費。估價部門在進行鑑價時,會將您的物品與近期售出的類似物品作比較,但鑑價並非必要,即使沒有正式的書面鑑價,您也可取得拍賣前的估價資料。

藝術家轉售權 (又稱「追及權」,Artist Resale Right or Droit de Suite)
根據歐盟的「Artist’s Resale Right Directive」(藝術家轉售權指令),同時英國亦已引進此法規,在特定條件下,在世藝術家之作品每次透過藝術市場專業人員於歐盟或英國售出時,藝術家均有權收取轉售權利金。若拍品之成交價 (不包括買家佣金及增值稅) 超過 1,000 歐元,蘇富比會代藝術家向買家收取轉售權利金。買家購買任何適用「藝術家轉售權」的拍品,均須繳付轉售權利金,此款項將算入其發票金額。請參閱「藝術家轉售權利金表」以取得更多資訊。

現況 (As Is)
所有拍品均以拍賣時的「現況」出售,亦即連同其現有之瑕疵與缺陷。我們鼓勵有興趣的買家在競投前仔細檢驗每件物品。估價部門在進行鑑價時,會將您的物品與近期售出的類似物品作比較,但鑑價並非必要,即使沒有正式的書面鑑價,您也可取得拍賣前的估價資料。

拍賣官 (Auctioneer)
訓練有素的專業人員,負責主持整場拍賣會,拍賣官通常會在拍賣物品前先簡略介紹該物品。一旦開始出價,其他競投人可提出更高的叫價。競投人可以親臨拍賣場,亦可透過電話或網上競投。拍賣官也可代表缺席者出價競投,並判定拍賣何時結束。當某件文物成功售出,拍賣官會宣布「成交」。但如果物品未達底價或沒有競投者,拍賣官則會宣布「流拍」。

出價 (Bid)
準買家在競投期間向拍賣官表示他/她願意付出購買拍品的金額。

每口叫價 (Bid Increment)
拍賣官就每次喊價所提高的競投金額。一般而言,拍賣官會要求比前口叫價提高約 10% 的競投金額。例如,若競投以 5,000 美元起價,後續的競投金額依序應為 5,500、6,000、6,500 美元,以此類推。實際的金額通常會以四捨五入處理或是由拍賣官自行釐定。

即投BIDnow
即投BIDnow 為蘇富比的網上競投服務,適用於洋酒以外的所有拍賣會。蘇富比透過即投BIDnow,於sothebys.com直播拍賣會的現場情況,事先已登記出價的客戶可如拍賣會現場的人士一樣出價競投。

流拍 (Bought-In)
如果沒有人對拍品出價,或出價未達到底價,便會出現「流拍」,亦即物品未能售出,仍為原持有人所管有。

買家佣金 (Buyer's Premium)
買家按成交價應付的佣金。請參閱蘇富比買家佣金的費率。

編製圖錄 (Cataloguing)
拍品的實際資料,例如藝術家或創作人的姓名、物品的詳細描述、製作年份、出處 (持有人紀錄)、曾參加的重要展覽,以及曾有相關記述的出版物等。這些資料都會刊登於印刷及電子拍賣圖錄。

狀況報告 (Condition Report)
蘇富比專家在拍賣舉行前撰寫關於藝術品狀況的書面描述。

業務規則 (Conditions of Business)
這份重要文件說明蘇富比及委託人同意出售拍賣品予買家的條款。請務必在競投前詳細閱讀這些條款。

委託人 (Consignor)
將物品轉交蘇富比代為出售的財產持有人。

稱號 (Designation)
在圖錄每項物品的說明,有時會透過稱號欄識別拍賣品的委託人。委託人可自行決定是否使用稱號,並得選擇以姓名或頭銜表明目前持有人之身分,例如「知名歐洲收藏家之財產」。

估價 (Estimate)
每件拍品都定有最低與最高估價,為蘇富比專家估計拍品可能達成的成交價範圍。估價是根據對物件的驗證,以及類似物件在近期拍賣的紀錄而定。估價會刊載於電子或印刷圖錄,不但是準買家對拍賣品價值的重要初步參考,而且通常是底價的訂定依據。

參展紀錄 (Exhibition History)
列舉特定拍品曾參加的博物館或畫廊展覽,參展紀錄對文物的價值會產生一定的影響。

專家 (Expert / Specialist)
隸屬某個拍賣部門,並在特定收藏領域上擁有專業知識的專家。蘇富比的專家往往是出類拔萃的學者,很多會在其專業範疇上出版著作、演講授課,並會指導或策劃國際展覽。

公平市值 (Fair Market Value)
鑑價人員經常使用的詞彙,指他們對自願賣家出售物品給自願買家之可能售價的判斷與意見。由於拍賣流程公開讓所有競投者參與,因此拍賣的成交價就是衡量「公平市價」的標準。

拍賣官警告 (Fair Warning)
拍賣官有時會提出警告,表示拍品即將擊槌成交,提醒競投人出價的最後機會,如果之後沒有人出價,拍賣官便會擊槌宣布拍賣品成交。

小木槌 (Gavel)
拍賣官宣布競投結束時使用的小木槌。

保證 (Guarantee)
在少數情況下,無論拍品的競投價是否達到底價,蘇富比都會保證付款購買委託人的物品。保證可能是由蘇富比、第三方,或由蘇富比與第三方共同提供。提供全額或部分保證金的第三方,可能會因受保之物品成功售出而獲利,惟銷售不成功則可能會蒙受損失。

保證欄 (Guarantee Line)
拍賣圖錄中會以粗體表示保證欄,顯著標明重要資料,例如作品真偽、藝術家或創作人的姓名,以及物品之出處。

落鎚價 (Hammer Price)
拍品在拍賣會中的得標價,是拍賣官以擊槌接納的最高競投價,也是最終的銷售價格,但不包括買家佣金。

擊槌 (Knocked Down)
拍賣行用語,指木槌落下並結束競投,例如「拍品以 1 百萬美元擊槌成交」。

LiveBid
蘇富比洋酒拍賣的網上競投服務。

拍賣品 (Lot)
在拍賣會上以一個單位出售的一件或一組物品。

號碼板 (Paddle)
號碼板會標示買家登記參加拍賣會的編號。若有意競投物品,請舉起號碼板直至確定拍賣官看見為止。如果您贏得拍賣,我們會記下您的叫價及號碼板的編號。您必須攜帶號碼板前往付款處繳付款項。

流標/未達底標 (Pass/Unsold)
表示物品在拍賣中因未達底價而未能售出。

攝影 (Photography)
蘇富比會為拍賣會的每件拍品進行專業攝影,以作記錄及進行推廣之用。這些照片會刊載於我們的電子和印刷圖錄中,是買家選購心水拍品時的重要參考資料。

拍賣前預展 (Presale Exhibition)
在舉行拍賣的前幾天,蘇富比會公開展示拍賣會中的所有拍品,並設專家即席回答您的任何問題。預展免費開放予公眾入場,通常在拍賣會前一天的下午 1 點結束。請參閱「拍賣資訊」查看有關日期、時間與地點。

出處 (Provenance)
出處是鑑定過程中很重要的一環,目的是要追溯物品的來源及上手物主 (如可能的話)。拍品的出處對其價值影響甚鉅。

底價 (Reserve or Reserve Price)
是由委託人與蘇富比共同設定的最低成交價,且絕對機密。底價不會超過最低估價,如果拍賣結束時競投仍未達底價,那拍品便不會售出。

拍賣結果 (Results)
每場拍賣會結束後,蘇富比會即時在網上發布以當地貨幣計算的競投結果。一般而言,拍賣結果會包括落鎚價加上買家佣金。

拍賣編號 (Sale Number)
蘇富比的每個拍賣都有獨特不重複的編號,以區別之前或之後的類似拍賣。拍賣編號開首的英文字母代表拍賣地點:「L」為倫敦,「N」為紐約,以此類推。拍賣編號會顯示在很多地方,如每個電子圖錄及印刷圖錄的封面。

賣家佣金 (Seller's Commission)
委託人支付予蘇富比的佣金,會從成交價中扣除。

電話競投 (Telephone Bidding)
很多買家喜歡透過電話,委託於拍賣會現場的蘇富比代表代為競投。

估值 (Valuation)
蘇富比專家會為物品準備詳細描述與當前價值等資料。估值與拍賣前估價並不相同。估值具有許多用途,包括慈善捐款、擔保貸款、遺產稅、遺產安排和保險等。