Instrument auction house Tarisio has launched a new ‘Buy Now’ feature.
The option allows online buyers to purchase items instantly at a fixed price in advance of the bidding process.
The new functionality will be used in sale at Tarisio’s October auction in London.
In 2013 Tarisio introduced ‘First in, Last out’ (FILO) allowing the bidder who is both the first and last on a lot, to pay a reduced buyer’s premium. As a result of the introduction of FILO, there has been an average 10.9 per cent of total sale bids received on the first day compared to 0.78 per cent before its introduction.
Buy Now has the same reduced premium as FILO (18 per cent on the first GBP100,000 and 13 per cent thereafter), and is available for select lots only. Buy Now lots can be purchased until regular bidding opens on Friday 17 October at 11am GMT (or until someone else clicks Buy Now first).