Civil War auctions are a great place to shop for Civil War memorabilia.  Authentic Civil War relics can also be found in other auctions such as antique, estate, or firearm auctions.  But before you go, you need to educate yourself on the terminology that the auctioneer uses and on how to recognize the authentic from the reproduction.  Most Civil War auctions (not including eBay) are entirely legitimate and trust-worthy.  But fraudulent actions are the number one problem to look out for in auctions.  These illegal actions are explained below.  Possibly the most important phrase you need to know is "caveat emptor", or "buyer beware".  When you hear or read that, you need to really know what you are bidding on.  Visit our informational pages on how to spot a fake sword, more on Civil War fakes and our collecting advice and do your "due Diligence".

The following glossary of auction terms is from Steve Proffitt's column "It's Auction Time" printed in the Antique Week newspaper.

Box Lot - A box or other container holding like, different, or mixed contents, usually of nominal value and typically sold by the auctioneer as a single lot.

Bulk Sale - A sale that falls under Article 6 of the Uniform Commercial Code, where enacted.  This is a sale of inventory by a commercial seller that is outside the ordinary course of the seller's business.  If the seller owes money to suppliers of the inventory, the law provides certain requirements for an auctioneer to satisfy to protect these suppliers form loss.

Bump - A fraudulent bid made by an auctioneer in such a manner as to trick other bidders into believing it is a legitimate bid.

Buy-back - When an auctioneer or seller bids on a lot and "buys" it back: this is done to protect against a sacrifice to the next highest bidder whose bid is deemed insufficient by the auctioneer or seller.  Unless a seller reserves the liberty to bid an announces it, buy-backs are fraudulent and also violate section 2-328 (4) of the UCC, where enacted.

Buyer - The bidder recognized by the auctioneer that enters into a contract for sale to buy the lot from the seller.

Buyer's Premium - A marketing tool commonly used by auctioneers, it is a percentage surcharge added to the highest bid for a lot to determine the lot's final selling price to be paid by the buyer.

Buyer's Remorse - Regret by a buyer over an auction purchase; it strikes buyers when they perceive they have paid too much for a lot.

By-bidder - An illegitimate, decoy bidder in an auction who bids only to trick legitimate bidders into bidding higher.  This practice is fraud. 

CAGA - A professional designation held by some auctioneers that means "Certified Appraisers Guild of America".  The designation is awarded by the Missouri Auction School upon the successful completion of certain educational and experience requirements.

CAI - A professional designation held by some auctioneers that means "Certified Auctioneers Institute"; it is awarded by the National Auctioneers Association upon the successful completion of certain educational and experience requirements.

Catalog Auction - An auction where the lots are individually described in a printed catalog furnished to the bidders by the auctioneer.

Caveat Emptor - These are the two most important words in auctions for bidders and buyers.  This is an ancient Latin axiom that means "Let the buyer beware".  The warning reminds buyers that they take a risk on every purchase where these is no reliable guarantee in effect and it emphasizes due diligence before bidding.

Chant - The rhythmic combination of numbers and separating "filler words" called by an auctioneer while offering a lot in an auction.  The chant is comprised of two numbers - the amount that has been bid and the next higher increment the auctioneer is seeking to be bid.  The single-most important characteristic of a good chant is clarity.

Chinese Auction - This is a common fundraising method more akin to a raffle.  Participants buy tickets which they deposit into containers beside the lots they would like to obtain.  The more tickets a person deposits in a given container, the greater the odds of getting that item.  The winner is determined by drawing a ticket from the container.

Clerk - A member of the auctioneer's staff who works in tandem with the auctioneer in the conduct of the auction.  The clerk records the identity of the seller, buyer, and selling price for each lot.

Clerking Sheet - The paper form on which the clerk records the identity the seller, buyer, and selling price for the lot sold.

Collusion - This is when two or more people conspire to restrain trade by artificially "fixing" bids in an auction.  Collusion can occur when bidders agree not to bid against each one another so as to depress selling prices, or when an auctioneer and one or more others agree to try and artificially increase selling prices.  The conspiracy is a crime and it does not have to be successful to be prosecuted.

Colonel - A traditional title used by some to identify auctioneers.  Its origin supposedly dates to the Civil War when army colonels would occasionally auction off spoils of war.

Commission - The fee an auctioneer charges a seller to provide certain services to sell property at auction.  This is usually a percentage of the gross sale revenue of an auction.  Commission is also used to describe a state regulatory board that oversees auctioneers.

Conditions - "Conditions" go with "terms" like butter goes with biscuits.  These are the rules under which an auction will be conducted, as well as specific details in a contract for sale to define the parties' agreement.

Consignee - An auctioneer who receives property from a seller to auction.

Consignment - The property consigned by a seller to an auctioneer to auction.

Consignment Auction - An auction comprised of lots consigned to an auctioneer by multiple sellers.

Consignor - A seller who contracts with an auctioneer to conduct an auction of certain property.

Contract - "A promissory agreement between two or more persons that creates, modifies, or destroys a legal relation."  Black's Law Dictionary.

Cry the Auction - An auctioneer's chant used in calling bids in an auction.

Cut Bid - A bidder's signal to an auctioneer that the bidder will offer half the amount of the the bid increment the auctioneer is seeking.  If the bid were at $50 and the auctioneer was seeking $60, a bidder could signal a cut bid which would mean he would bid $55.

Dime - Auctioneer's jargon used to denote a $10 bid increment.

Disclosure - An auctioneer revealing known facts that sellers, bidders, and buyers need to have to make informed and intelligent decisions regarding an auction.  Full disclosure is an auctioneer's best insurance against claims and liability.

Due Diligence - The process of investigating and gathering information necessary to make an informed decision about a matter, such as authenticity, condition, quality, and status of property to be sold.

Dutch Auction - An auction in which the auctioneer opens with a which asking price and steadily lowers it until a bidders signifies acceptance of the price and buys the lot.

Estate - A person's real (i.e. "real estate) and personal property.  One's property is his estate whether the person is alive or dead.

Executor - A person appointed by a testator (one who makes a will) to perform the terms in the will following the testator's death and settle the estate.

Executrix - A woman who serves as an executor.

Filler Words - The words an auctioneer blends into the chant to break up the numbers called and provide a smooth and rhythmic sound.

Flier - An advertising sheet distributed by an auctioneer to advertise an upcoming auction.

Fraud - The misrepresentation of a material fact on which another relies and is thereby damaged.  Fraud can be both criminal (penalty may be incarceration and/or mandatory fine) and civil (damaged party can sue for money damages and/or avoid the contract for sale).  Civil fraud can be either actual (intentional misrepresentation designed to trick and cheat) or constructive (innocent, but false representation that causes another to be damaged).  Fraud is the number one problem in auctions.

Gavel - A small hammer-like item banged by some auctioneers to emphasis the sale of a lot.  Sometimes called a 'hammer".

GPPA - A professional designation held by some auctioneers that means "Graduate Personal Property Appraiser".  It is awarded by the National Auctioneers Association upon the successful completion of certain educational and experience requirements.

Ground Man - An auction worker who assists the auctioneer by moving lots, helping bidders and buyers and sometimes spotting bids. 

Hammer Price - The highest amount bid for a lot.  This term relates to the auctioneer striking a gavel (literally or figuratively) to signify the sale of a lot.

Heat of the Auction - The time when the bidding is the strongest for the best lots and the money being spent is the greatest.

More auction terminology coming soon

    - Steve Proffitt is general counsel of J.P. King Auction Co. Inc.  He is also an auctioneer and instructor at both Reppert School of Auctioneering in Auburn, IN, and Mendenhall School of Auctioneering in High Point, NC.