What should I know as a bidder and buyer?
How can I present a bid for one or more lots in ARTBID?
It’s extremely simple! ARTBID organises its auctions online, and therefore the first step should be to register at the site www.artbid.pt. Immediately after registering, you can bid for any lot, by simply following the steps specified in the site.
Can I directly observe the items before bidding?
Yes. You can visit our premises, on any working day, during office hours. You can also request a Condition Report of the item(s) that you want to bid for, so that we can provide you with more detailed information about the status of each lot.
What are the advantages of buying in an auction?
In art and antiques auctions it’s common to find a wide variety of unique, ancient and contemporary items, such as jewellery, watches, furniture, porcelain, silverware, sculptures, books, painting, prints, serigraphs, photographs, toys, textiles, ivories, among many other items, typically at attractive prices.
Are ARTBID’s auctions held exclusively online?
Yes. ARTBID only organises online auctions, and therefore each auction will be available for bidding during approximately one week. All online auctions are available at the site, www.artbid.pt, in Ongoing Auctions.
Does ARTBID hold auctions every day?
Practically every day. One of ARTBID’s innovations is precisely the fact that it provides frequent auctions to its customers - each auction with approximately 10-20 lots.
When does the auction of a lot terminate?
Whenever bids are presented for a lot during the last 3 minutes before the closing time of the auction, 3 more minutes will be added to the closing time for this lot and so on successively. The auction will only terminate when no-one else makes a bid.
My bid was successful. How will I know how much I have to pay?
You can determine the final amount of your purchase by summing up the sale price of the item that you have purchased, plus the respective purchase commission of 15% (plus VAT at the prevailing legal rate). After your bid has been successful, you will be sent an email with a report of your purchases, including an itemised invoice for the total amount payable and the payment methods available.
When do I have to pay for my purchases?
Payment should be made immediately after the end of the auction session, as soon as you receive, by email, the report with the total amounts to be paid. Payment may be made by Cheques, Bank Transfers, Multibanco ATM or Cash. If you choose to pay via bank transfer, use the following details:
Beneficiary: ARTBID, Lda.
Bank: Banco BPI
Bank Identification Number (NIB): 0010 0000 51247640001 35
IBAN: PT50 0010 0000 51247640001 35
Swift Code: B B P I P T P L
How long do I have to withdraw the objects that I have purchased?
The objects must be collected within a maximum of 8 working days after the closing date of the auction in which the objects have been acquired. After this date, ARTBID reserves the right to charge a storage fee, in accordance with the pricelist in force.
How do I withdraw the items that I have purchased?
After payment of your purchases and confirmation of correct settlement of this payment by ARTBID, you can withdraw the items from our premises or request that your transporter do this on your behalf. If you would like, we can provide you with the contacts of one or more transporters who offer this service.
We recommend that you read ARTBID’s Terms and Conditions, which contain a more detailed specification of the rules governing the company’s activity.
If you require any further clarification, please don’t hesitate to contact us via phone or email.