A Clear and Transparent Bidding Process at MACHO NUMISMATIC GALLERIES
Every MACHO NUMISMATIC GALLERIES auction follows clearly defined rules. Lots are offered individually, and all bids – whether placed in person, by telephone, online or as Pre-bids – are handled according to the same bidding rules.
The bidding process differs depending on whether you are participating in a Floor Auction or an eLive Auction.
For information on the different ways to participate and how to register, please see How to Bid.
Floor Auction
A Floor Auction is conducted by an auctioneer, who offers each lot in sequence and accepts bids.
You can participate in several ways:
- In Person in the Saleroom
- Bid by raising your paddle.
- By Telephone
- A member of the MACHO NUMISMATIC GALLERIES team places bids on your behalf according to your instructions.
- Live Bidding via AUEX
- Place bids online in real time.
- Pre-bids
- Enter your maximum bid in advance. Bids are placed on your behalf according to the applicable bid increments, up to your maximum bid.
If there are no further bids, the auctioneer brings down the hammer and the lot is sold to the highest bidder.
eLive Auction
An eLive Auction takes place entirely online via the AUEX platform, without an auctioneer.
You can bid:
- Online in real time
- By placing a Pre-bid in advance
After each new bid, the countdown timer restarts. If no further bid is placed within the specified time, bidding on the lot closes automatically and the lot is sold to the highest bidder.
How Do Pre-bids Work?
Pre-bids allow you to set the maximum amount you are willing to bid for a lot without having to follow the entire auction.
For example, if you enter a maximum bid of €5,000, this does not mean that you automatically bid €5,000. Bids are placed on your behalf according to the applicable bid increments and only as necessary to keep you in the lead, up to your maximum bid.
What Happens if Two Bidders Place the Same Bid?
Where identical bids are received, the following priority rules apply:
| Situation | Priority is given to |
|---|---|
| A Pre-bid followed by a live bid of the same amount | the earlier Pre-bid |
| A saleroom bid and an online bid of the same amount | the saleroom bid |
| Two bids of the same type and amount | the bid received first |
How Do Bidding Increments Work?
Bidding progresses according to predetermined bid increments. The minimum amount of the next bid depends on the current bid amount.
| Current Bid (€) | Minimum Bid Increment (€) |
|---|---|
| up to 20 | 1 |
| 20 – 50 | 2 |
| 50 – 100 | 5 |
| 100 – 200 | 10 |
| 200 – 500 | 20 |
| 500 – 1,000 | 50 |
| 1,000 – 2,000 | 100 |
| 2,000 – 5,000 | 200 |
| 5,000 – 10,000 | 500 |
| 10,000 – 20,000 | 1,000 |
| 20,000 – 50,000 | 2,000 |
| 50,000 – 100,000 | 5,000 |
| 100,000 – 200,000 | 10,000 |
| 200,000 – 500,000 | 20,000 |
| 500,000 – 1,000,000 | 50,000 |
| over 1,000,000 | 100,000 |
Pre-bids that do not correspond to the applicable bid increment will be adjusted by the system in accordance with the auction rules.
Cut Bid – Half Bid Increment
A Cut Bid is a special bid that allows you to bid only half of the full bid increment.
In a Floor Auction, a Cut Bid may only be used with the auctioneer’s consent. In an eLive Auction, its use is governed by the auction system and it may only be used once per lot.
If your bid is exceeded after using a Cut Bid, you may not re-enter the bidding for that lot.
The Hammer Is Binding
In a Floor Auction, a lot is sold when the auctioneer brings down the hammer. In an eLive Auction, bidding on a lot closes automatically when the countdown expires without a further bid.
The successful bidder must pay for and take possession of the purchased lot in accordance with the Auction Terms and Conditions.
Information on invoicing, payment options, collection in person and delivery can be found on the Payment and Delivery page.
Ready to Bid?
Explore our Current Auctions and choose the lots that interest you.
Current Auctions
If you are bidding with us for the first time, visit How to Bid for all participation options and a step-by-step guide.
How to Bid
Answers to further practical questions can be found in our Buyer FAQ.
Buyer FAQ