Glossary · Collecting
Auction estimate
A pre-sale price range published by an auction house, not a guarantee of the eventual hammer price.
Explanation
An auction estimate is the pre-sale price range published by the auction house, set to encourage bidding rather than to certify value. Results can fall far below or above it. Estimates also exclude the buyer's premium and taxes, which add substantially to the hammer price.
In the object catalogue
Catalogued objects whose own source record mentions “Auction estimate”. The quoted line shows where; it is the seller’s or museum’s wording, not independent verification.
