Auctions begin with a start bid. Subsequent bids progress in set increments. These increments are identified in each sale’s instructions. Bid increments grow as bids grow in value.
For instance, RagoArts.com provides the bidding chart below:
| Bid | Increment |
|---|---|
| $50–1,000 | $50 |
| $1,000–2,000 | $100 |
| $2,000–3,000 | $200 |
| $3,000–5,000 | $200 / $300 / $300 / $200 |
| $5,000–10,000 | $500 |
| $10,000–20,000 | $1,000 |
| $20,000–30,000 | $2,000 |
| $30,000–50,000 | $2,000 / $3,000 / $3,000 / $2,000 |
| $50,000–100,000 | $5,000 |
| $100,000–200,000 | $10,000 |
| $200,000–300,000 | $20,000 |
| $300,000–500,000 | $20,000 / $30,000 / $30,000 / $20,000 |
| $500,000–1,000,000 | $50,000* |
| * additional increments will be at the discretion of the auctioneer. | |
A chipped or split bid defies defined increments. Your auctioneer can accept or refuse to accept a smaller incremental bid. Sometimes split bids allow a lot to regain bidding momentum. They can also accomplish the opposite. Auctioneer discretion will hopefully yield an advantageous result.
Corinne Cain of SavvyCollector.com
This blog topic was prompted by a newsletter Puck.news’ Wall Power produced by Marion Manneker. Manneker covered this topic adding anecdotal stories as well.