| No. | Item | Definition |
|---|---|---|
| 1. | absentee bid | bid placed in advance |
| 2. | advance bid | bid submitted before auction |
| 3. | appraisal | expert value assessment |
| 4. | as is | sold in present condition |
| 5. | attribution | assigned creator or origin |
| 6. | auction | public sale to highest bidder |
| 7. | auctioneer | person conducting the auction |
| 8. | authenticity | genuineness of an item |
| 9. | bankruptcy sale | court-related asset auction |
| 10. | bid | an offer to buy |
| 11. | bidder | person making bids |
| 12. | block | auctioneer’s stand |
| 13. | bought in | withdrawn after failing reserve |
| 14. | buyer | person purchasing the lot |
| 15. | catalog | sale listing of lots |
| 16. | ceiling | highest amount you’ll pay |
| 17. | collection | pickup of purchased item |
| 18. | commission bid | maximum bid left beforehand |
| 19. | condition | state of preservation |
| 20. | consignment | goods entrusted for sale |
| 21. | consignor | person placing goods for sale |
| 22. | current bid | highest active offer |
| 23. | default | failure to fulfill obligation |
| 24. | delivery | bringing item to buyer |
| 25. | demand | buyer interest in item |
| 26. | deposit | money paid as security |
| 27. | desirability | how much buyers want it |
| 28. | disclosure | important revealed information |
| 29. | dispute | disagreement over sale details |
| 30. | duty | import charge on goods |
| 31. | edition | version from a limited run |
| 32. | escrow | funds held by third party |
| 33. | estate sale | sale of personal property |
| 34. | estimate | expected price range |
| 35. | fair warning | final notice before closing |
| 36. | fee | charge for service |
| 37. | floor bid | bid from room attendee |
| 38. | forfeit | lose money or rights |
| 39. | forgery | fake made to deceive |
| 40. | gavel | small hammer used by auctioneer |
| 41. | going once | first closing call |
| 42. | going twice | second closing call |
| 43. | guarantee | assurance backing a claim |
| 44. | hallmark | official precious-metal mark |
| 45. | house | auction company |
| 46. | increment | required amount between bids |
| 47. | inspection | close examination before bidding |
| 48. | insurance | protection against loss or damage |
| 49. | invoice | bill for the purchase |
| 50. | knockdown | sale confirmed by hammer |
| 51. | last call | final chance to bid |
| 52. | liquidation | selling assets to raise cash |
| 53. | live bid | bid made during sale |
| 54. | lot | item or group for sale |
| 55. | mark | identifying symbol or stamp |
| 56. | market | overall buying and selling activity |
| 57. | online bid | bid placed on internet |
| 58. | opening bid | first bid made |
| 59. | paddle | numbered bidding card |
| 60. | passed | not sold at auction |
| 61. | payment | money paid for purchase |
| 62. | penalty | punishment fee for breach |
| 63. | premium | buyer’s fee added to price |
| 64. | preview | viewing before the auction |
| 65. | provenance | history of ownership |
| 66. | proxy bid | representative places bids for you |
| 67. | rarity | uncommonness of an item |
| 68. | realized price | amount actually achieved |
| 69. | receipt | proof of payment |
| 70. | registration | sign-up before bidding |
| 71. | reproduction | later copy of original |
| 72. | reserve | minimum confidential sale price |
| 73. | rostrum | raised platform for auctioneer |
| 74. | runner | staff assisting on floor |
| 75. | sealed bid | confidential written offer |
| 76. | seller | person offering the lot |
| 77. | serial number | unique identifying number |
| 78. | settlement | completion of payment process |
| 79. | shipping | transport of purchased item |
| 80. | sold | successfully purchased at auction |
| 81. | starting bid | minimum opening amount |
| 82. | storage | keeping item after sale |
| 83. | surcharge | extra added charge |
| 84. | tax | government charge on sale |
| 85. | tear | rip in paper or fabric |
| 86. | telephone bid | bid made by phone |
| 87. | terms | rules of the sale |
| 88. | timed auction | auction ending at set time |
| 89. | title | legal ownership rights |
| 90. | underbidder | second-highest bidder |
| 91. | unsold | not purchased in auction |
| 92. | valuation | estimated monetary worth |
| 93. | VAT | value-added tax |
| 94. | vendor | seller of the goods |
| 95. | viewing | scheduled opportunity to examine |
| 96. | warranty | guarantee about the item |
| 97. | wear | surface use marks |
| 98. | webcast | live online broadcast sale |
| 99. | winning bid | highest accepted offer |
| 100. | withdrawn | removed before sale |
