If you are happy with the auction estimate, which for sale by public auction or online will be shown as a low and high estimate range, and the suggested strategy for offering your work for sale, we will produce a written agreement. This agreement will also confirm relevant terms, including the reserve (the minimum amount you will accept for your property prior to our charges) and the seller’s commission. All sales are subject to the Conditions of Business (for the sale in which your property will be offered) and these record the terms on which Bonhams and you, the seller, agree to sell a lot to a buyer.