Greg Martin Auctions - Auction & Appraisal Specialists - Fine Arms and Armor

(Auction Procedure • Bidding • Absetee Bidding • Telephone Bidding • Reserve Price • Buyer's Premium • Bidding Increments • Glossary of Terms • Condition Standards)

Bidding at Auction

The Auction Procedure

Click here for Bidder Registration Form (PDF)

a. Registration
You must register in advance to bid at auction, if by mail or Internet by complying with and signing the requisite form or absentee bid; or by pre-registration to telephone bid or by pre-registering at the desk and obtaining a bidding paddle. The auctioneer may refuse to recognize any person not registered and having a bidding paddle.

b. Announcements
We may, at the commencement of, or during the auction, announce any changes in or modifications to the Conditions of Sale or descriptions of Property.

c. Absentee Bids:
For a Buyer's convenience, absentee bids will be accepted, when properly executed and submitted in a timely manner, however, we neither accept responsibility to you nor any liability whatsoever for a failure to execute the absentee bid for any reason.

d. Auctioneer’s Discretion:
The Auctioneer has the absolute discretion to 1) pass a lot or withdraw it from sale at any time prior to its actual sale; 2) refuse to recognize any bidder; 3) refuse to recognize any bid; 4) resolve any dispute between bidders or resolve any doubtful bid by deciding who is the successful bidder or nullifying the auction of the lot and reoffering it for sale. The Auctioneer's decision is binding as to disputes arising at auction. If a dispute arises post sale, our records of the sale shall be conclusive. Both the Auctioneer and GMA shall be without any liability whatsoever resulting from the exercise of the discretion referred to herein.

e. Reserves:
All Property is offered for sale subject to a Reserve unless otherwise stated by us. We may protect the Reserve by initial or continued bidding on behalf of the Consignor. We may also bid on Property to protect any economic interest (other than commissions) that we may have in the Property. Unless otherwise announced, NEITHER THE CONSIGNOR NOR AN AGENT OR REPRESENTATIVE OF THE CONSIGNOR IS ALLOWED TO BID ON THEIR OWN PROPERTY.

Bidding (top)

Greg Martin Auctions also offers buyers several ways to bid.

Before bidding, it is necessary to pre-register with Greg Martin Auctions. You may register to bid either in person at the auction desk, by fax at (415) 543-7576, by phone at (800) 509-1988 or (415) 537-3800, by mail at Greg Martin Auctions, 660 Third Street, Suite 100, San Francisco, California 94107 or at www.gregmartinauctions.com. Lots are auctioned in numerical order; any deletions or additions will be announced before and during the sale. Bidding begins below the low estimate, unless otherwise stated by the auctioneer, and continues until only one bidder is left. The auctioneer may bid on behalf of the Consignor until the reserve price is met, but then will bid no higher. When you arrive at the auction after pre-registering to bid, check in at the front desk to get a numbered bidding paddle. When you wish to place a bid, please raise your paddle so the auctioneer can see it. If the auctioneer does not see your paddle, please say "bidding" in a clear voice so your bid will be recognized. If you are the winning bidder, the auctioneer will record the number taken from your raised paddle after the bidding ends.

Absentee Bidding (top)

Please fill out an absentee bid form indicating the highest amount you would pay for each lot you wish to bid on. GMA staff will bid for you, and will never bid for more than your maximum indicated amount if necessary, obtaining the Lot for you at the lowest price possible. Absentee bidding forms are available upon request, at the front desk, at the back of each catalog and through our online catalog. Please submit your form by mail, fax or online.

Click here for Absentee Bidding Form (PDF)

Telephone Bidding (top)

Telephone Bidding - Greg Martin Auctions can arrange for one of our staff to bid with you by telephone as the auction takes place.

To arrange for telephone bidding, please pre-register for general bidding, then call GMA at (800) 509-1988 or (415) 537-3800 at least 48 hours before the auction. Please have a list of your lots and maximum bids ready when you call.

Click here for Telephone Bidding Form (PDF)

NOTE: WE ARE ONLY ABLE TO ACCEPT TELEPHONE BIDDING ON LOTS WITH LOW ESTIMATES OF $1,000 AND ABOVE.

Reserve Price (top)

This is the minimum price for which a lot will be permitted to sell, it should be agreed upon in advance by both the seller and Greg Martin Auctions. The Reserve is always confidential.

Buyer's Premium (top)

A fifteen and percent (15.0%) Buyer's Premium will be added to the Hammer price of each lot. Sales tax, if applicable, will be added to this final purchase price.

Bidding Increments (top)

$0 - $500	$25 increments
$500 - $1,000	$50 increments
$1,000 - $2,000	$100 increments
$2,000 - $5,000	$250 increments
$5,000 - $10,000	$500 increments
$10,000 - $20,000	$1,000 increments
$20,000 - $50,000	$2,500 increments
$50,000 - $100,000	$5,000 increments
$100,000 and above	$10,000 increments

Glossary of Terms (top)

Hammer price - The purchase price paid for a lot upon the fall of the auctioneer's hammer.

Buyer’s premium - The amount paid by the buyer as a percentage of the hammer.

Purchase price - The aggregate of the hammer, buyer's premium and applicable taxes or other fees, if any, as may be required by law.

Reserve - The minimum price at which the lot is to be sold.

Buyer - The person or entity who buys property at auction or private sale.

Consignor - The seller or the seller's representative on behalf of whom we are selling the property.

Lot - The single item or group of items offered by us for sale.

Property - The item or items comprising an auction lot being offered for sale.

Attribution Clause - GMA makes every effort to prepare thorough descriptions of property offered for sale. When characteristics of historical or cultural aspect, or relating to provenance are referred to in descriptions as "attributions" "attribute to" or "alleged," it is because we are unable to thoroughly confirm the particular aspect, history or provenance in question.

Inscription Clause - Reference to "inscription" or "inscribed" without additional information, indicates only the fact of the inscription described and not ownership.

Condition Standards for Antique Firearms (top)

As New	All original parts; 100% original finish; in perfect condition in every respect, inside and out.
Excellent	All original parts, over 80% original finish; sharp lettering, numerals and design on metal and wood; unmarked wood; fine bore.
Fine	All original parts; over 30% original finish; sharp lettering, numerals and design on metal and wood; minor marks in wood; good bore.
Very Good	All original parts; none to 30% original finish; original metal surfaces smooth with all edges sharp; clear lettering; numerals and design on metal; wood slightly scratched or bruised; bore disregarded for collectors firearms.
Good	Some minor replacement parts; metal smoothly rusted or lightly pitted in places, cleaned or reblued; principal lettering, numerals and design on metal legible; wood refinished, scratched, bruised or minor crack repaired; in good working order.
Fair	Some major parts replaced; minor replacement parts may be required; metal rusted, may be lightly pitted all over; vigorously cleaned or reblued; rounded edges of metal and wood; principal lettering, numerals and design on metal partly obliterated; wood scratched, bruised cracked or repaired where broken; in fair working order or can be easily repaired and placed in working order.
Poor	Major and minor parts replaced; major replacement parts required and extensive restoration needed; metal deeply pitted; principal lettering, numerals and design obliterated, wood badly scratched, bruised, cracked or broken, mechanically inoperative; generally undesirable as a collectors firearm.