How to Buy at Auction: A Complete Beginner’s Guide

Your first auction does not have to feel mysterious. The process is straightforward when you know what to review before bidding, how the bidding format works, and which costs apply after you win. A little preparation can help you bid with confidence instead of reacting to the excitement of the moment.

Once you understand the basic roadmap, registration is the natural place to begin. Having your identification and payment details ready can make the sign-up process easier and ensure you are prepared before bidding opens.

How To Buy At Auction: How Do You Register to Bid at an Auction?

To register for an auction, create a bidder account, verify your identity and payment information, then enroll in the specific sale you want to attend. Complete registration early, because online registration typically closes about one hour before a live auction begins. You can register through Lion and Unicorn’s bidding portal or an approved third-party platform.

Registration is the first practical step in learning how to bid at a Lion and Unicorn auction. It confirms that you are an eligible bidder and gives the auction house the information needed to process a winning purchase.

1. Create your bidder account

Start by visiting bid.lionandunicorn.com and following the account-registration instructions. You will generally provide your name, email address, contact details and a password. Use information you can access during the sale, since bidding notifications and account messages may be sent to the email address associated with your registration.

2. Provide identification and payment information

Have valid identification and your payment details ready. Lion and Unicorn requires bidder identification and payment verification as part of the registration process. Providing complete, accurate information helps prevent delays if you win a lot. It also ensures the auction house can contact you about invoices, payment and collection arrangements.

3. Register for the specific auction

Creating an account does not necessarily register you for every sale. Open the catalog for the auction you want, review the sale details, and select the option to register or request approval to bid. Lion and Unicorn accepts registrations through its own portal and through platforms such as LiveAuctioneers, Invaluable and Bidsquare. Choose the platform where you plan to place your bids and complete its registration requirements before the deadline.

Do not wait until the auction is about to start. Registration typically closes about one hour before a live sale, and late registration may prevent you from participating. After approval, review the catalog, bidding rules and payment terms before placing a bid. If you are unsure which platform or registration option to use. Contact Lion and Unicorn before the sale so a team member can point you in the right direction.

How to Read an Auction Catalog Like a Pro

To learn how to buy at auction with confidence, study each lot before bidding, including its description, condition report, photographs, estimate, and lot number. Compare the item with your collecting goals, calculate your maximum all-in budget. And record that limit before the auction begins so excitement does not make the decision for you.

A catalog is more than a list of objects. It is your first opportunity to understand what is being offered and identify questions before bidding opens. Lion & Unicorn catalogs include detailed descriptions, photographs, and condition notes for each lot, giving first-time bidders a practical starting point.

1. Start with the lot number and description. Every item or group is assigned a lot number, which is the reference used throughout the catalog, bidding platform, and auction. Read the full description rather than relying on the title alone. Note the maker, materials, dimensions, date or period when supplied, quantity, and any stated provenance. If a lot contains several pieces, confirm whether the estimate and bidding apply to the entire group.
2. Read the condition report carefully. Condition notes explain wear, repairs, chips, cracks, losses, discoloration, or other issues that may not be obvious from a short title. A report is not a substitute for asking questions, but it helps you decide which lots deserve closer attention. If the description or report is unclear, contact the auction house before placing a bid and keep the answer with your catalog notes.
3. Review every photograph. Use the images to examine front, back, sides, surfaces, signatures, construction, and scale. Look for details that support or qualify the written description. Photos cannot reveal every flaw, so treat them as part of your research rather than a guarantee of condition. Zoom in when the platform allows it, and compare multiple views before deciding how strongly you want to pursue the lot.
4. Use the estimate as context, not a promise. The estimated value can help you understand the auction house’s expected range, but it is not a guaranteed selling price or appraisal. Consider the estimate alongside condition, rarity, desirability, and comparable pieces you have researched. Set your own value based on what the item is worth to you, not simply on the upper or lower estimate.
5. Write down your complete budget limit. Mark each lot you may pursue and record the highest total amount you are prepared to spend. Remember that the winning bid is not always the final cost. Lion & Unicorn applies a 30% buyer’s premium to the hammer price, and shipping, handling, taxes, or other applicable charges may also affect the total. Once your limit is written down, stop bidding when it is reached.

Finally, note how you plan to participate. Lion & Unicorn supports online, phone, absentee, and in-person bidding. Review the ways to bid at a Lion & Unicorn auction and choose the method that gives you enough time to follow your catalog notes and budget.

What Does It Actually Cost to Buy at Auction?

The true cost of buying at auction includes more than the winning bid. Plan for the hammer price, Lion & Unicorn’s 30% buyer’s premium, applicable Florida state and county sales tax, and shipping or handling. Add those charges before bidding so your maximum is based on the final total, not just the amount shown on the screen.

The hammer price is the winning bid for the lot. It is the starting point for your calculation, not necessarily the amount you will pay. At Lion & Unicorn, a 30% buyer’s premium is added to the hammer price for winning bidders. For example, a $1,000 hammer price creates a $300 buyer’s premium before tax and shipping, bringing the subtotal to $1,300.

Account for Florida sales tax

Sales tax may also apply to the taxable portion of your purchase. In Florida, that can include the state sales tax and any applicable county discretionary sales tax. The exact amount depends on the transaction and current tax requirements, so confirm the charge shown at checkout rather than estimating from the hammer price alone.

Include shipping, handling, and storage

Shipping is another part of the budget, particularly for framed art, furniture, fragile porcelain, or multi-lot purchases. Request or review the available shipping arrangements before you bid, because the final amount can depend on size, weight, destination, packing, and insurance. If you plan to collect your purchase in person, remember that items must be picked up or shipping arranged within 30 days. Storage fees then apply at $10 per day for small items, $25 per day for medium items. Or $50 per day for large items, with a $100 administrative fee after 30 days.

A practical formula is:

• Total cost = hammer price + 30% buyer’s premium + applicable Florida state and county sales tax + shipping or handling.

How auction costs compare with retail

Auctions can offer access to distinctive pieces at prices that may compare favorably with retail, but the comparison only works when you use the all-in cost. A retail price may already include the seller’s markup, while an auction price adds separate buyer charges after the bid. Compare the final auction total with the price of a comparable item in similar condition, including delivery, rather than comparing retail against the hammer price alone.

Payment is due within 48 hours of the auction close. Late payment incurs 1.5% monthly interest after 15 days, so build the payment deadline into your buying plan. Before placing a bid, review the full terms and conditions of sale and set a maximum based on what you are prepared to spend in total.

What Are the Different Ways to Bid at an Auction?

To buy at auction, choose the bidding method that fits your schedule, location, and comfort level. Lion & Unicorn offers online, in-person, phone, and absentee bidding, so you can participate from the gallery or from almost anywhere. Each method gives you a different balance of convenience, preparation, item access, and real-time control.

Compare bidding methods at Lion & Unicorn

Method	How it works	Best for	Pros	Cons
Online bidding	Register and bid through bid.lionandunicorn.com or a participating platform such as LiveAuctioneers, Invaluable, or Bidsquare.	Convenience, remote participation, and global access.	Bid from home, follow the sale in real time, and review lots before the auction without traveling to Hollywood.	You cannot handle the item in person, and a weak internet connection or missed notification can affect your experience.
In-person bidding	Attend the Lion & Unicorn gallery at 200 Oakwood Lane Suite 200, Hollywood, FL 33020, and bid in the room.	Personal inspection, live atmosphere, and bidders who enjoy being part of the room.	You can observe the auctioneer, see the lot in person, and respond immediately as bidding develops.	Travel is required, and you must plan around the auction schedule and available seating.
Phone bidding	Arrange to participate live by calling 954-866-8044 in advance. A representative communicates with you as your lot comes up.	Real-time participation without relying on an internet connection.	You can make decisions during the live sale and ask questions before committing to a bid.	Phone lines and staff availability may be limited, so advance arrangements are essential. You also need to remain available during the sale.
Absentee bidding	Leave your maximum bid in advance by phone or email. The auction team bids on your behalf up to that limit.	Buyers who cannot attend or monitor the sale in real time.	It is straightforward, saves time, and lets you set a firm spending limit before the auction begins.	You cannot react to last-minute developments, and another bidder may win below or at your maximum depending on competition.

There is no universally best option. Online bidding suits a buyer who values flexibility, while in-person bidding is useful when seeing the item and room action matters. Phone bidding preserves live decision-making, and absentee bidding works well when your schedule is fixed. Review the detailed ways to bid at Lion & Unicorn auctions before registering, especially if this is your first sale.

Why Should You Inspect Items Before Bidding?

Inspecting a lot before bidding helps you make a confident decision about its condition, scale, materials, and overall appeal. At Lion & Unicorn, buyers can attend in-person previews at the gallery, located at 200 Oakwood Lane, Suite 200, Hollywood, FL 33020. Seeing an item in person can reveal details that are difficult to judge from a screen, including surface wear, repairs, texture, color, and proportions.

Inspecting an item before bidding lets you compare its condition with the catalog description. Ask informed questions, and decide what it is worth to you before the auction begins. This matters because auction purchases are sold “as is” under the applicable auction terms, so reviewing the lot carefully is an important part of responsible bidding.

Review the Condition Report and Photographs

Start with the condition report, then examine every available photograph closely. Look for close-ups of edges, backs, undersides, hardware, signatures, labels, and areas where wear or restoration may appear. Lion & Unicorn provides detailed condition notes and professional photography to help bidders evaluate specific lots before committing. Photos are useful, but they do not replace your own judgment about an item’s condition.

Pay attention to wording such as “wear consistent with age,” “possible restoration,” or “not examined.” These descriptions can affect both desirability and value. If a detail is unclear, write down the lot number and ask about that specific point rather than making a broad inquiry.

Ask Questions Before You Place a Bid

If you cannot attend the preview, contact the auction team with questions about a particular lot. Call 954-866-8044 to discuss details before bidding, especially if you need clarification about damage, measurements, provenance, or included components. Allow enough time for the team to respond before the sale starts.

For first-time bidders, knowing what to expect when visiting an auction house can make an in-person preview feel more approachable. A careful inspection does not remove every uncertainty, but it helps you bid with realistic expectations and avoid relying on assumptions.

What Happens After You Win an Auction Bid?

After you win an auction bid, Lion & Unicorn sends a winning notification and invoice, usually within about 48 hours. Payment is due within 48 hours, and pickup or shipping must be arranged within 30 days. Paying promptly and clearing your purchases on time helps you avoid interest, storage charges, and administrative fees.

The invoice confirms the lots won, the hammer price, the 30% buyer’s premium, and any applicable shipping or handling costs. Review it carefully as soon as it arrives. If you have a question about an item, total, or delivery arrangement, contact the auction house promptly rather than waiting until the payment deadline.

Payment methods and deadlines

Payment may be made by cash with documentation, money order, Visa, MasterCard, American Express, certified check, PayPal, or wire transfer. Have the required payment information ready so your invoice can be settled within the 48-hour window. A late payment incurs interest of 1.5% per month after 15 days, which can add to the cost of an otherwise successful purchase.

Pickup, shipping, and storage

Winning bidders must arrange pickup or shipping within 30 days. If items remain at the facility after that period, storage fees apply based on size: $10 per day for small items. $25 per day for medium items, and $50 per day for large items. A $100 administrative fee is also charged after the 30-day period.

Before bidding, consider where the item will go and whether you need a professional shipper, especially for fragile antiques, artwork, or substantial furniture. Arrange those details soon after payment clears. Understanding how consignment auctions work can also help you see why clear timelines matter for both buyers and sellers. Prompt payment and collection protect your budget and keep the buying process straightforward.

Frequently Asked Questions

How do I buy at auction?

Start by choosing a sale and reviewing its catalog, including lot descriptions, photographs, and condition reports. Register before bidding, set a maximum budget that includes the buyer’s premium and shipping, then bid in person, online, by phone, or by absentee instruction. If you are new to the process, Lion & Unicorn can help explain the steps and answer lot-specific questions.

What do you need to buy at an auction?

You generally need valid identification, registration details, and an accepted payment method. You should also have a clear spending limit, a plan for collecting or shipping your purchase, and enough time to review the lot before bidding. Check the sale terms in advance so you understand deadlines, fees, and pickup requirements.

How does the buyer’s premium work?

The buyer’s premium is an additional charge calculated on top of the winning hammer price. At Lion & Unicorn, the buyer’s premium is 30% of the hammer price, so a $100 winning bid creates a $130 subtotal before applicable shipping or other charges. Include this premium in your maximum bid rather than treating it as an unexpected extra.

What are the common bidding methods at an auction?

Most auctions offer several ways to participate: live bidding in the gallery, online bidding through the auction platform, phone bidding, and absentee bidding submitted before the sale. Lion & Unicorn also lists auctions through platforms such as LiveAuctioneers, Invaluable, and Bidsquare. Choose the method you can monitor reliably and complete its registration early.

When do I pay for an auction purchase?

Payment is due within 48 hours of the auction closing. Accepted methods include cash, money order, major credit cards, certified check, PayPal, and wire transfer, subject to the sale terms. Arrange pickup or shipping within 30 days, because storage fees can apply afterward. Review the invoice promptly so any delivery questions are resolved before the deadline.

Ready to Find Your First Auction Treasure?

Whether you have a specific lot in mind or want guidance before your first sale, Lion & Unicorn can help you take the next step with confidence. Contact Lion & Unicorn to register for an upcoming auction, ask about a lot, or arrange phone or absentee bidding. Contact the Lion & Unicorn team to get started.