Collector's Q&A
Everything collectors ask about bidding, buyer's premium, GST, shipping, and payment at Gatsby's Auctions — a plain-English guide for new and seasoned bidders alike.
How does bidding work at Gatsby's Auctions?
Register a free account, add a payment method to become Ready to Bid, then place bids on any open lot. Our timed auctions accept bids until each lot's published closing time, while live auctions run lot-by-lot in real time. The highest bid when a lot closes wins.
What is a buyer's premium and how much is it?
A buyer's premium is a percentage added to the winning hammer price of each lot. At Gatsby's Auctions the buyer's premium is 19.75% of the hammer price. The premium is standard across the auction industry and helps fund cataloguing, photography, and secure handling.
Do I pay GST on my purchase?
GST (10%) applies only to the buyer's premium, not to the hammer price. This follows the Australian second-hand goods margin scheme: you are not charged GST on the value of the item itself, only on our service fee (the premium).
What is proxy bidding (maximum bidding)?
Proxy bidding lets you enter the maximum amount you are willing to pay. The system then bids on your behalf in the standard increments, only as much as needed to keep you in front, up to your maximum. You win at the lowest possible price below or at your limit.
What is anti-sniping and how does it protect my bid?
Anti-sniping automatically extends a lot's closing time by a short window whenever a bid lands in the final moments. This prevents last-second 'sniping' and gives every bidder a fair chance to respond, so lots sell for their true market value.
How do I pay if I win, and when is payment due?
Payment is due within 3 business days of the auction closing. We accept PayID and bank transfer. Winning bidders with a saved payment method may also be charged automatically once the auction is finalised.
How does shipping and collection work?
Free pickup is available from our premises. Most lots can also be posted via Australia Post at published packing-and-postage rates, or by professional courier for larger items. We combine shipping on multiple wins to reduce your total cost.
How accurate are your condition reports and estimates?
Every lot is catalogued with multiple photographs and a written condition report. Estimates reflect comparable market results and are a guide, not a guarantee. Some categories (such as cards, coins, and minerals) are sold as found — always review the photographs or inspect in person at our viewing window.
Do you have a loyalty program for consignors?
Yes. Consignor loyalty tiers are based on the cumulative hammer value of lots you sell with us, not on buyer spend. Selling high-quality consignments through Gatsby's Auctions moves you up the tiers and unlocks improved commission terms.