How do I join?
Just sign up on the Objet Space Website for FREE using your Facebook or Email account to see the auction items, current bids or past results.
If you want to participate in the auction and start placing a bid, you will be asked for credit card details – don’t worry, there is no charge and your data is secured. This is to validate bids, authenticity of the registration and eliminate bogus bidders. Once registered, you can start bidding on your desired item.
What is an Alias?
Create an online character through your nominated Alias. This is a fun way to keep your true identity anonymous during actual bidding. Your alias and bid amount will appear on the activity log for each lot. This is to show transparency of who you are going up against when bidding.
What is a SNIPE Bid?
The Snipe Bid is a special feature of this website, it is a hidden or silent bid that will only appear in the last 7 minutes before the auction ends. This gives snipe bidders the advantage of less competition. It’s a feature that can be used by absentee bidders who want to place their maximum bid on the last minute to better their chances of winning.
If ever someone else out-bids your snipe, you will be notified through email, where you can choose to place another snipe bid.
How can I verify an item’s authenticity?
Objet Space will put detailed photos of the item on the website. To the best of our abilities, we will inspect and declare any issues on the description. But it is still the bidder’s responsibility to check in person and verify the condition of each item. Items will be available for viewing & inspection at the Objet Space office the week before auction day.
How do I know if I am the highest bidder?
You’ll get an email immediately if you are the highest bidder at the end of the sale
What Happens when I win?
First, A buyer’s premium inclusive of VAT totaling 16.8% will be charged on your credit card.
Next, You will receive an email invoice for the full settlement of the item with payment instructions.
When the item is settled, a schedule of pickup or delivery will be arranged. Objet Space can also help in booking a 3rd party delivery but will not be liable for items lost or damaged during transport. Please go over our terms & conditions for more details regarding storage etc.
Why am I being charged a Buyer’s Premium?
The premium covers the cost of administrative service we provide, this goes to the operation of curating, photographing, marketing & fulfillment of the auction sale.
“Reserve Price Not Met” What Does This mean?
It is common practice for auction houses to set a minimum reserve price to protect collectible pieces from being sold way below market value. This is the minimum amount that a seller or consignor is willing to accept for the sale of their item. As much as we want to give good deals to everyone, consignors do not feel the same way. Of course they want to get the most out of the items they are selling. But we see to it that we negotiate and haggle that consignors give their best price, which increases the chance of selling and converting a sale. When a reserve price is too high, we often do not accept this item for consignment as it is a waste of time and resources. It is our intention as the auction house to negotiate the best/lowest price for the reserve that is usually a little below fair market value (target of 20 to 30% below, considering that buyers will also pay for premiums).
Bidders should do their due diligence of researching the going price for an item and offer an amount that is fair to increase their likelihood of winning.
In Cases Where a Reserve is Not Met, a buyer should not feel remorse. Instead they can take action to contact Objet Space and negotiate a direct sale. This is common practice in most auction houses when a reserve is not met. The Auction House can act as a broker between the 2 parties to process a negotiated sale. In case an agreement cannot be made between buyer & seller, the item will be included back in the next auction.
How do I Consign an item for auction?
Send us a photo and description of the item first for screening. If the item is accepted we will send you a Form to be filled up. The Actual Item must be sent to our Objet Space Office to be properly inspected, appraised, prepped and professionally photographed for before uploading on to the auction website.
More details will be sent on a Consignment agreement.