COLLECT ON PHI AUCTIONS
Phi Auctions offers works by renowned artists and designers in dozens of auctions each year. Here is how to bid and collect on Phi Auctions.
STEP 1: REGISTER
Now that you’ve registered, you can submit bids online at anytime for the duration of an auction. Most Phi auctions last two weeks.
STEP 2: EXPLORE
Use the features on our site to discover works by your favorite artists and designers.
- Search by artist name, artwork title or auction to discover works.
- Browse through the extensive collection of artworks in current auctions.
STEP 3: BID
Enter any bid amount as long as it is greater than or equal to the low estimate (the amount noted above the bid field), and click on “leave bid.” If you do not have a credit card number on file you will be prompted to add it to secure your bid at this point. Your card will not be charged, it will be authorized for $1.00.
This will automatically place a bid at the next increment, and save any excess amount as a maximum bid.
STEP 4: MONITOR AUCTION
Once you place your bid, you will receive an email confirmation of your bid and will be notified by email when you are outbid.
Bidding increments increase at the following intervals:
Below $2,000: $100
Between $2,000 and $4,999: $200
Between $5,000 and $9,999: $500
Between $10,000 and $19,999: $1,000
Between $20,000 and $49,999: $2,000
Between $50,000 and $99,999: $5,000
Between $100,000 and $199,999: $10,000
Between $200,000 and $499,999: $20,000
Between $500,000 and $999,999: $50,000
Above $1,000,000: $100,000
STEP 5: BUY
Congratulations, you have won! Follow our seamless checkout process to purchase your work. Please note that the card you used to bid with is not automatically charged and you must follow the indicated check out steps to complete your purchase.
ABSENTEE / MAXIMUM BIDDING
When you enter an amount higher than the minimum bid, the system treats this amount as your maximum bid. Entering a maximum bid does not necessarily mean you will pay that price. You may pay less. As the auction proceeds, we compare your bid to those of other bidders and the system automatically bids on your behalf, up to but never exceeding your maximum bid. We increase your bid by increments only as much as necessary to maintain your position as highest bidder. If your maximum bid no longer exceeds the current bid, you will receive an outbid notification email, and have the option to bid again.
BUYER’S PREMIUM & ADDITIONAL CHARGES
Winning bidders are charged a 20% Buyer’s Premium on top of the hammer price. A summary of all charges is provided prior to confirmation of the transaction. The summary outlines the total price realized (Hammer Price + Buyer’s Premium) along with any applicable taxes.
RECEIVING YOUR PROPERTY
If you are the winning bidder, upon the close of our auction you will receive an email from Phi Auctions prompting you to check out. Checking out allows you to pay for your artwork. You will also be presented with options and rates to arrange shipping. Our standard shipping timeline (from payment for lot and shipping fees to final delivery) is 3 to 4 weeks for shipments within the continental United States or domestic UK, and 6 to 8 weeks for all other shipments. Please note: Buyers are responsible for all shipping costs.
For auctions where Phi Auctions handles fulfillment, we offer two checkout options.
- Select one of our preferred fine art shipping partners to manage packing, collection, and delivery door to door (and installation if you require).
- Coordinate off-line with Phi Auctions to arrange FedEx shipping, or arrange to pick up your artwork from the consignor directly, if applicable.
Phi Auctions offers a blanket insurance policy.
All sales with a final delivery address in New York State are subject to state sales tax. International shipments are subject to duty and tax as determined by the customs of the importing country. The purchaser will pay any fees directly upon receipt of your shipment.
Watch and Bid on Artwork Online
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