The latest Advertising Standards Authority update in ATG (No 2274).
Am I incensed at the capitulation of the auction trade?
On the majority of lots, the auction estimate has been treated as guidance of an anticipated bid, the hammer price, in the absence of special interest.
What now? With all costs included in the ‘estimate’, am I to remember to bid only 80% of that figure to accommodate costs? Will that be readily apparent to collector bidders – those that the ASA is seeking to protect?
Probably not. In which case, the new ‘estimate’ may well have a tendency to increase bids.
So, administration apart, it is in the interest of auctioneers to roll over and accept ASA best practice guidelines. To answer my own question, yes, I am incensed.
Ian Harvey
London
