Frequently Asked Questions Q: When can I place an absentee bid? A: Absentee bids may be placed up to 24 hours before the auction begins. Q: What is a bidding increment? A: A bidding increment is the amount by which the price of a lot is increased as potential buyers bid on it. Please see the table below for Morrell & Company Fine Wine Auctions bidding increments. Q: What are the Bidder Registration Requirements: A: Information that must be submitted by potential bidders in order to participate in the auction. This includes Name, Phone Number, Address, E-mail, and a valid Visa or MasterCard to begin the Registration process. In addition bidders must accept the Terms & Conditions of Sale to register. Q: What is the Buyer's Premium: A: The buyer's premium is the purchase price payable by a Buyer, the premium shall be the sum of the final bid and a premium of 18% of the final bid Q: How does live bidding work? A: 1) After you register you can place absentee bids on any lot at any time up to 24 hours before the auction goes live. 2) During the Live auction, you can follow everything that is happening on our auction website. As each lot closes, you can bid along with other bidders through the website. Bids placed live on the web are displayed for the auctioneer real-time so that Internet bidders can bid against bidders in the auction saleroom. 3) Upon the completion of each auction, Morrell & Company will contact winning bidders to make shipping and payment arrangements. Bidding Increments 0-200................................................................ in 10's $200-300.......................................................... in 20's $300-700....................................................... 20-50-80 $700-1,000....................................................... in 50's $1,000-2,000.................................................. in 100's $2,000-3,000...................................................in 200's $3,000-7,000............................................200-500-800 $7,000-20,000................................................ in 500's Over $20,000............................auctioneer's discretion

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