Well: It is any object suceptible of being auctioned as for example: Works of art, Antiquities, Objects of Collection, Maps and Historical Documents, mints, Medals, Stamps, etc.
Catalog: It is the leaflet ó I free where there are described the Goods to be Subastados, it is illustrated and shows and describes each and everyone of the offered lots. In these catalogs there is a lot of information for the such possible buyers as: general conditions of the auction, general index of artists who take part in the auction, biographies of the taking part artists.
Buyer: He is the last or best bidder of each of the auctioned goods.
Expenses: Payments that every Seller must do for concept of: Cataloging, Insurance, Packing, Office and Customs duties, Enmarcaje and Restoration. These expenses are agreed previously to the auction (if they were necessary).
Fees of the House: Fees that the Buyer and the Seller must cancel for concept of intermediation of the sale.
Lot: Unit shaped by a Good ó set of Goods suceptibles of being auctioned.
I hammer: To see Auctioneer
Palette of Numbered Bidding: To the incribirse for the auction act, every possible bidder will receive a palette of numbered bidding, which will identify it at the moment of doing some position
Basic price: It is the minimal price in which the owner of the accepted work selling, therefore is the price in which the bidding begins.
Bidder: She is any person who, previous and properly inscribed for the act of the auction, shows during the last one, his will to pay the price determined by the Auctioneer.
Price of Market: It is a referential price that reflects realized recent sales of Works that by his characteristics, antiquity and oddness can be considered to be equivalents. It is a price estimated for guide of the buyers and never absolutely. This price represents exclusively the opinion of the Auctioneer, and is based on previous auction results.
Price of Hammer: To see Price of Sale
Price of Sale: It is the price of awarding of the lots in the auction.
Process of Record: It is the process that the possible bidders must fulfill with enough anticipation time, preferably before the act of the auction, a step of record, in which they will have to fill and sign a format that contains his name, direction and phone, as well as the declaration of knowledge and acceptance of the General Conditions of the Auction. The presentation of a credit card is needed also, and of his identity card or passport. This process is done to be able to obtain the palette of numbered bidding, which is the instrument with which it will be able to bid.
It bids: It is the declaration of intention of buy in an Auction. Physics can be realized in written form (it bids in Absence), verbal (telephone bidding), ó.
It bids in Absence: It is the declaration in writing of buy intensity in an Auction (bidding), which any person can realize properly registered that it cannot be present at once of Auction. In this document there is contemplated the maximum offer that the offerer does on every interest lot. The Biddings in Absence are represented at once of Auction by the Auctioneer.
Physical bidding: It is the declaration of intention of buy of a Good that every person does voluntarily during the Act of Auction.
Telephone bidding: It is the verbal declaration of intensity of buy (bidding) in an Auction, which any person can realize properly registered that it cannot be present physically at once of Auction. This bidding is realized for every Work in the moment itself in which It is Auctioned in the Room. The Offerer takes part on equal terms with the Bidders of the Room, and he is represented physically by the Auctioneer.
Report of Conditions: It is an additional information to the catalog that consists of a detailed description of every work, realized by experts in restoration and conservation. There they discriminate against skills, measurements, dates, place of the signature and a detailed report of the conditions of the work and it is free to be consulted during the exhibition before to the sale.
Auctioneer: It denotes to the mercantile company responsble of the Auction, in our case, the Auctioneer is a HOUSE OF AUCTIONS ODALYS, C.A
Auctioneer: She is the person who directs the offers during the Auction act. It indicates the number of lot to living voice, his properties or particular characteristics and the minimal price of beginning of the bidding, and indicates the fluctuation of the same one according to the order in which there get up the numbered palettes that identify the buyers. On having stopped the bidding and to the account of three it lowers the hammer to declare the sold good, the auctioneer announces then the value by which the lot was awarded and identifies publicly for the number of palette, to the buyer.
You auction: It is the ideal forum for the determination of the value of a good. It is a universe of sellers and buyers who converge on a moment, to show publicly, and without pressure his interest in the good subastable. It is a public and verifiable act, it is clear and transparent, where only the offer and the demand establishes the value of the auctioned object, and where the frequency of the sales and the quantity of sold works are constructing the commercial value
Absolute auction: It is that auction in which the bidding begins in the minimal price in which the owner is ready to sell his work, therefore from the basic price established in catalog, any equal or top bidding can inside the competitive process of the auction be the lucky bidding.
Auction of Minimal Price: To see Absolute Auction
Seller: Any individual who wants to sell some good of his property, across the Auctioneer, previous acceptance to the last one.
This glossary has been facilitated to us for
HOUSE OF AUCTIONS ODALYS, C.A
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Emilio Castelar 
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Collecting
Small Art
Actuality 
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