Buying with Hotlotz

Every bid you place is a binding offer to purchase at that price, and it cannot be withdrawn once made. If yours is the leading bid when the lot closes, you enter into a contract to buy at the hammer price plus the buyer’s premium. This applies equally to real-time and maximum bids. It is also what allows an auction to work fairly: sellers can rely on a completed sale, and every bidder competes on equal terms, in the knowledge that each offer is made in earnest. We therefore ask that you bid only on lots you intend to buy.

A buyer’s premium is how Hotlotz is compensated for every auction it runs, covering the specialist work behind each lot, including authentication, cataloguing, photography, condition reporting, marketing, and running a secure, verified bidding process. It’s charged transparently and disclosed upfront in every catalogue, so bidders know exactly what a winning bid will cost them before they bid.

Unless otherwise stated, the buyer’s premium is 30% (inclusive of GST). It is added to your closing bid to form the final invoice and is not negotiable, so a closing bid of $1,000 comes to $1,300.

We notify you by email when you win, and your invoice follows within 24 hours. Payment is due on receipt. We prefer bank transfer or PayNow, both of which are free of charge. We also accept Mastercard, Visa and American Express, subject to a 2.73% service fee. As a cashless business, we are unable to accept cash or cheques.

Yes. Most auctions are exhibited in our saleroom for around ten days before bidding closes, and no appointment is required to visit during this period. Viewings for our Hotlotz Fine auctions are by appointment only, and bidders will receive an invitation to book a slot once their registration is approved. If you are unable to come in person, our valuers can provide condition reports, further photographs or video on request.

Overseas buyers may request GST zero-rating on qualifying purchases, subject to conditions that include export within 60 days through an IRAS-compliant logistics provider. Please email finance@hotlotz.com after the auction and we will be glad to assist.

In real-time bidding you place each bid yourself as the sale runs. With a maximum bid, you enter the most you are willing to pay and the system bids for you in set increments, only as much as needed to keep you in the lead. Your maximum is never visible to us or to other bidders, and you may win for less than your limit.

Our Buying Guide covers everything above in greater depth, including bidding increments, reserves and estimates, condition reports, payment terms, and collection and shipping. If anything remains unclear, our client services team is glad to help.