Secret Bid Auction
16 November – 26 November 2023
The Academy stockroom is bulging and needs to be made ready for the new exhibitions programme. To make the process more fun, we are offering the stockroom collection in a secret auction.
A secret auction is precisely what it says on the label: all bidding is secret. Auction items are displayed in the gallery and in an online gallery and catalogue with a reserve price and guide price. A few items will be offered at no reserve. The bidding is secret to add mystery and protect bidders from scrutiny. Any items not bought by the secret auction close date will become available at reserve price only.
(Updated Wednesday 22/11/2023)
Bidding forms will include a statement which says the bids are a commitment to pay. All bidding will close on Sunday 19 November at 5pm and the bids will be reviewed on Monday 20 November.
As soon as a valid bid is revealed for a work a ‘Reserved / minimum bid met’ blue dot goes on the wall and in the online catalogue. All items without any bid become available for sale at the reserve price only.
Once all bids have been opened and the highest bid for each item identified, the bidder will be contacted to receive payment options. Bidders will have 48 hours to pay, or it goes to the next highest bidder. A red dot is added to the wall and catalogue once payment is confirmed.
Any works for which the bid payment is not received will revert to reserve only price from Friday 24 November to Sunday 26 November. Collection or delivery of sold works will commence from Monday 27 November.