The act of or process of estimating value.
This is a way that you can bid even if you cannot attend the auction in person. Check with the auction of interest to see if this is available and how they make the bids for you. Many places allow written absentee bids, phone-in bids, and even online bidding. In written absentee bids, you tell them what items to bid on and how high you will go. In phone-in bidding, you are actually on the phone in person, but you have to let them know what you want to bid on. Online bidding utilizes a bidding platform which uses the Internet to transmit your bids. These practices vary from auction to auction so be sure to ask each auction company you deal with how they do it prior to bidding.