What is a 'condition report'?

A 'condition report' is a detailed document that provides a comprehensive description of an item's state, highlighting its flaws, imperfections, and overall condition. This report is essential in the auction setting as it gives potential bidders crucial information about the item they are considering for purchase. By outlining any damage, restoration work, or features that may influence the item's value, the condition report helps bidders make informed decisions, ensuring transparency and trust in the auction process.

This detailed assessment contrasts sharply with other types of reports that focus on different aspects of the auction. For example, a summary of auction rules outlines the procedures and guidelines for participating in the auction, while a report on bidder demographics would analyze the characteristics of the individuals participating in the auction. A summary of auction results, on the other hand, encompasses information about sales outcomes and final prices, which is distinct from the individual assessment of item condition that a condition report provides.