Auction acceptance and hammer price

Receiving tilslag at a Norwegian auction means that your bid has been accepted. The hammer price is the amount for which the object sells in the bidding, before any additions charged to the buyer. Distinguish it from the opening price, reserve and pre-sale estimate.

Hammer price and total invoice

The buyer's total may be higher after auction fees and other agreed costs. The seller's payment may be lower after agreed deductions. These amounts answer different questions.

When using a previous auction result as a comparison, record the object, auction date, condition and the type of price reported. An unsold lot does not provide an achieved sale price. A documented hammer price records one particular sale; it does not promise the same result for your object.

See OBA's auction page and check the terms for the particular sale. For an object you may wish to sell, read about assessment for an agreed purpose.