PosterConnection Online - Auction Guide - Your Frequently Asked Questions

All posters offered at our sales are illustrated in full-color auction catalogs (format 8.5 x 11 inches, 1-9 pictures per page). We are meticulous in the description of the conditions of all posters (so that absentee bidders know exactly what they are buying). Wherever possible, each poster in the catalogue is identified by artist, title, date of publication, printing technique, dimensions, and printer.

Because we conduct our sales both in Germany and in the United States, our catalogues contain the most important terms and conditions both in English and German. Each catalog has a table of contents, a reference to the description of the posters and abbreviations used, a bibliography of the most important poster reference works, and an alphabetical index of poster artists. Our film poster catalogs also contain indices of film titles (both original release titles and film titles used in the various countries), directors, and the actors of significance.

Catalogs become available approximately five weeks before each auction. They may be ordered by email or telephone and require advance check payment. The price for an auction catalog is generally $35 ($40 foreign) per auction.

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Prices: estimate vs. reserve

Our catalogs list two prices for all items offered: an estimated market value (emv) and the "reserve" price, i.e. the necessary minimum bid or the minimum amount for which the property will be sold. We publish the "reserve" so that potential bidders and buyers know where the bidding will start.

The estimate is based on our evaluation of a fair market value of the poster, taking into consideration its condition, rarity and our knowledge of what comparable pieces have recently fetched at auction. The reserve price is mutually agreed upon by PosterConnection /Jörg Weigelt Auktionen and the consignor. It is generally 60-65% of the estimate, i.e. the market value. No item will be sold under the reserve price.

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Description of the posters

The condition of each poster/poster lot in the catalog is described in detail. It is stated whether a poster is mounted on linen or rice paper, or whether it is not mounted. Potential flaws, such as creasing, tears or losses are noted. In addition, all lots are rated with a letter-code from A (flawless) to D (bad). Please make sure to read our Condition Rating Guide.

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Bidding & Buying

Is buying at auction expensive?

Not necessarily. Many people are surprised to learn that buying at auction can often be less expensive than buying retail and that one can buy an authentic poster for much less than the price of a modern reproduction. Some of the more widely available posters generally sell for less than what you would expect the retail price to be. On the other hand, some of the less common posters can bring a substantial price at auction.

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Attending the auction

Anyone may attend the auction and the auction preview. There is no admission charge nor any obligation to bid. You should use this opportunity to view, enjoy and learn about vintage poster art.

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Registration and bidding

You may either bid in person, by absentee bid, by telephone (restricted to established clients on a first come first serve basis) or live online. People bidding in person must register (name, address, telephone number, picture identification) with us prior to the auction. All registered persons receive a numbered bidding paddle. Absentee bidders must submit their bids in the form of a signed "Absentee Bid Form" (the bidder's registration takes place by submitting this sheet). In May of 2000, we began broadcasting our live poster auctions in San Francisco via the Internet. Poster enthusiasts all over the world have the opportunity to participate live in our sales via computer. Contrary to absentee bidding, you can place your bids in real time via the Internet when the live event is taking place. You don't have to be at the floor of the auction house to bid live - you can participate right from your computer! If you plan on participating via the Internet,please make sure to read our Live Bidding Guide.

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Preview

All auction posters are exhibited on the day preceding each sale as well as the morning of the auction day. The preview is an opportunity to see all posters first hand and inspect them in detail.

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Bidding increments

Bidding increments are taken in steps of 5-10%.

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Absentee bidding - how does it work?

Those who cannot attend the auction in person may choose to leave an absentee bid. Absentee bidders may leave their bids either directly with us or with one of our online partners, iCollector.com and EbayLiveAuctions. If you forward your bid directly to us, you must fill out an "Absentee Bid Form" (included with each catalog) indicating the maximum bid for each desired lot. Absentee bids must reach our offices no later than 48 hours before the auction! "Either-or" bids will be accepted. (Absentee bids submitted by telephone must be confirmed in writing at least 48 hours before the sale.) Click here to print out an absentee bid form. If you leave your bids online, you merely need to register with the respective online service. Please note that we do not have access to these bids until the auction begins and therefore cannot check the receipt/status of a bid.

All absentee bids are executed at the lowest price possible and as if the absentee bidder were actually present at the sale. Four short scenarios will explain what this means:

For the sake of this example, we assume that a poster X has a reserve, i.e. a starting price, of $500. All absentee bids are compiled and entered into a computer. At the auction, the auctioneer executes these bids as if the absentee bidders were present.

Example I - one absentee bid: There is only one absentee bid of $600 for poster X (i.e. the bidder is willing to bid as much as $600 (excluding premium, taxes, etc.)). With no other bids, poster X would be sold for $500, i.e. the bid would be executed at the reserve price.

Example II - two absentee bids: There are 2 absentee bids for poster X--one for $600 and another for $800. In this scenario, the higher bid ($800) is "in the lead" and, with no additional bidding, would obtain the poster for exactly one bidding increment above the immediate lower bid. In this case, the immediate lower bid is $600. The auctioneer would execute the higher bid ($800) at the lowest price possible, i.e. for $650 (one increment above $600).

Example III: Building on example II, the auctioneer has reached $650 on behalf of the highest absentee bidder ($800). Somebody on the floor bids one increment higher, i.e. $700. In this scenario, the bidding continues and the auctioneer now executes the absentee bid ($800) at $750, one increment higher than the bid on the floor ($700). With no further bidding, poster X would be sold for $750 to the absentee bidder.

Example IV: Building on example III, we assume that the bidding on the floor continues. Someone bids one increment higher, i.e. $800. In this case, there are now two bids at $800--by the bidder present at the auction and by the absentee bidder. In the event that bids submitted for one item are in the same amount, the bid received earlier takes precedence. (This is also true for identical absentee bids!) In this case, the bidder attending the auction would be informed that there is already an absentee bid for $800 and that he/she would need to raise his/her bid by one increment. If the bidder decided to continue bidding, it would be his/hers for $850 as the absentee bid of $800 could no longer be executed. If the floor bidder decided not to bid $850, the absentee bidder would be successful at $800.

Please do not hesitate to call or email us if you have any further questions about absentee bidding.

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What are our "Conditions of Sale"?

The Conditions of Sale are the seller's and PosterConnection Inc.'s or Jörg Weigelt Auktionen's contract with the purchaser of any lot which is found in each of our catalogs. It is the buyer's responsibility to read these conditions carefully before making a bid. (See Conditions of Sale for full text.)

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What does a successful bidder have to pay?

All successful bids are subject to a 15% buyer's premium (the buyer's premium is 18% on any purchase made through a live online auction) plus shipping/handling and any applicable taxes. In the U.S., buyers may be liable for local sales tax (currently 8.25% in the State of California). Abroad, buyers may be liable for VAT or other applicable taxes in their countries. Please check with us for information relating to your potential tax liabilities.

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When will you have to pay?

Payment is due immediately after the auction and must be submitted in US currency by (a) cash, (b) cashier's check, (c) personal check with pre-approved credit, or (d) direct bank to bank wire transfer. For more details, please review our Conditions of Sale.

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How do you collect your property?

The posters purchased at the auction remain the property of the consignor until the full invoiced amount has been paid. Once payment has been made in full, the lot purchased can be collected. If a buyer is unable to collect the property in person, the items will be shipped (generally Second or Third Day Air). All buyers are responsible for shipping and handling charges.

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Selling at auction

Can you consign posters for sale?

We accept consignments for our poster auctions throughout the year. If you are interested in selling posters, both PosterConnection and Jörg Weigelt Auktionen will be pleased to provide you with an evaluation of your property, whether it is a single item or a varied collection.

You may either make an appointment to meet with us, or, if you are unable to visit our offices, you can (e-)mail us photographs or call us with a description of your posters. It is helpful, if you include any information about the artist, title of the poster, its dimensions, a brief assessment of its physical condition and any other relevant information, including the history of ownership. We are usually able to provide you with a preliminary evaluation without delay.

Please, do not ship property to us before consulting us!

In the process of evaluating posters, we will determine a fair market estimate as well as the reserve price. Following our agreement, you will need to deliver your property to our offices. When we have received your posters, we will send you a receipt and a contract outlining the terms of our relationship.

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How much does it cost to sell at auction?

We collect a commission from the seller on all lots sold at auction and also charge a very small fee for unsold items. However, there is no "buy back" fee and no additional expenses paid by the seller. For example, there is no charge for insurance (once the property has reached our premises), photography, or color illustration of the poster lot in the auction catalog. Please call or email us for more details about consigning posters to our auctions.

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How do we establish the estimate and reserve price?

The estimate is based on our evaluation of a fair market value of the consigned poster, taking into consideration its condition, rarity and our knowledge of what comparable pieces have recently fetched at auction.

The reserve price is mutually agreed upon by PosterConnection /Jörg Weigelt Auktionen and the seller. It is generally 60-65% of the auction estimate, i.e. the market value.

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What if a piece does not sell?

Any piece that does not reach the reserve at auction will be returned to you or, if you prefer, possibly included in a future sale.

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Other Questions

How to obtain auction results?

Auction results may be downloaded as PDF files on this web site. You may also request prices realized via mail or fax. Prices realized are automatically sent to sellers and catalog subscribers.

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