Priority Bidding 101

Priority Bidding 101

What is a Priority Bid? Priority Bids are written, binding bids that must be placed no less than 48 hours in advance of an auctions start time. The bid must be equal to or greater than the lots published low estimate and placed using Phillips absentee bid forms. Bidders who have placed Priority Bids ahead of the auction, if they are the winning bidder and satisfy the other conditions of Priority Bidding, will benefit from a Buyers Premium rate which is significantly lower than the Buyers Premium rate otherwise. This benefit applies whether their winning bid is at the amount of their

Why It Matters

Priority Bidding 101 continues to generate interest among collectors and enthusiasts. According to phillips.com, the development reflects broader trends in the watch industry.