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The booklet, titled Buying and Selling Antiques at Auction, discusses several aspects of the auction trade, such as buyer’s premiums, commissions and reserved lots, as well as legal terms.

This is not the first time RICS have done this – the Arts and Antiques division have produced similar booklets in the past – but it has been redesigned and updated. One significant difference was the use of images of objects from London’s Geffrye Museum rather than choosing images of objects sold at auction, as in the past this has been seen as promoting one business over another.

The guide sets out to assure the novice while promoting RICS members, emphasising the code of conduct, level of expertise and the need to receive impartial advice on estimations and maximum commission bids, among other matters. Embracing recent technological changes in the auction industry, it also offers advice on internet bidding.

RICS members will receive a pack of booklets free with more available for a small fee.

Booklets are available now on 0870 3331600 or by emailing contactrics@rics.org