Strauss & Co: The global leader in the South African art market.
Aspects of buying at Strauss & Co Fine Wine auctions are found below.
Pre-sale estimates are based upon the current market prices achieved at auction for comparable property, condition, rarity and provenance. Any bid between the high and the low estimate will, in Strauss & Co’s opinion, stand a fair chance of success. Estimates are exclusive of Buyer’s Premium and VAT. Printed estimates in the catalogue may be altered and are subject to revision.
Lots may be subject to a reserve which is a confidential figure between Strauss & Co and the seller and below which a lot may not be sold.
We charge a premium to the buyer on the final bid price.
For wine auctions this is calculated at 12% for all lots.
Please take note that VAT is payable by all on the premium at the applicable rate.
The auctioneer will accept bids from those present in the saleroom, by absentee written bids left in advance or from telephone bidders. The auctioneer may bid on behalf of the seller up to the amount of the reserve, by placing consecutive or responsive bids for a lot.
In person: Prior to the sale, bidders are required to complete a registration card in order to obtain a bidding number and to produce some form of identification, for example, ID document, driving licence, passport or proof of current address. The onus is on the bidder to ensure that the auctioneer is aware of the bid and that the correct lot number, bidder’s number and price are called out.
Absentee written bids: These are written instructions from prospective buyers instructing Strauss & Co to bid on their behalf up to a specific amount for each lot. Although bidders are advised to record the maximum limit to which they will bid they may well be successful in securing the lot at a lower figure, depending on the interest in the lot. In the event of an identical bid, the earliest received will take precedence. Telephoned Absentee bids must be confirmed before the sale in writing. Please ensure that Absentee bids are submitted at least 24 hours before the sale.
Telephone bids: Bidders who are unable to attend the auction may arrange to bid on the telephone. A telephone clerk will call you from the saleroom and bid on your behalf. To register, please contact the Bid Department. As the number of telephone lines is limited, it is advisable to book a telephone at least 24 hours before the sale. In the event of a breakdown in the telephone communications, it is advisable to leave a maximum bid as a safeguard. Telephone bids may be recorded.
All lots sold will be invoiced to the name and address that appear on the bidding forms. Successful bidders are required to make payment for their purchases immediately after the sale. Purchases will be released upon proof of payment.
Methods of Payment
Payment may only be made by:
Strauss & Co
Standard Bank Killarney
Branch Code: 007205
Current Account No: 001670891
Swift Address: SBZA ZA JJ