Proxy and telephone bidding: how they work in practice

Telephone bidding

You stay on a line with a clerk who relays your bids to the rostrum. Audio delay happens; state your increments clearly and confirm the current bid after each jump.

Proxy bids

You authorise the auctioneer to bid up to a written maximum as if you were in the room. You might still pay less than your cap if competition stops early — but never assume the auctioneer will “slow play” rivals for you.

Deadlines

Most firms need proxy forms and cleared funds a full business day before the sale. Last-minute heroics get refused more often than you would think.