Visiting and buying at auction is an interesting and exciting activity.
Despite the rise of online shopping, visiting an auction house is by far the best experience.
This month we have Sarah Lewis from JS auction in Banbury who goes through the process.
Written by Sarah Lewis from JS Auctions
I have spoken to many people who love the idea of going to an auction, but have never been before and feel intimidated by the whole process, so here are a few tips and some “do’s and don’ts” if you are attending your first auction…
Buying at auction.
Always inspect the lot careful on the viewing day before the auction. If you are unsure about condition, quality restoration etc, ask a member of staff for advice. Don’t buy an item unseen! If you cannot make it to view, you can ask the auction house for a condition report and photographs of the item. If you cannot attend the sale, you can leave a commission bid with the auction house which will be executed for you by the auctioneer or a member of staff. For high value lots, it may be possible to bid over the telephone or bid live over the internet from your computer at home.
Always remember to check the Buyers Premium; (this is the amount payable on top of the hammer price), and this in to account when bidding.
When you are in the auction room, try to be aware of other people around you. It may well be crowded but don’t be pushy and be aware they you may be walking in front of someone who is trying to bid. be patient if the auctioneer is taking bids off other people – they will get to you eventually.
Bid clearly and don’t be afraid to call out if you think that the auctioneer has not seen you and is about to bring the hammer down.
Don’t get carried away – set yourself a maximum price on each lot before the bidding starts and don’t be tempted to go further in the heat of the moment. Also bid briskly and decisively in order not to slow he auction down.
At the end of the day ENJOY IT! it should be fun day, and you can come home with your purchases in the knowledge that you have spent far less than you would have done in a retail environment.
For further information please telephone Sarah Lewis at JS Fine Art on 01295 272488 or email email@example.com.