Buying At Auction - A Beginner's Guide When
it comes to hunting and gathering, stalking the wily collectible,
I've tried all the hunting grounds, but my favorite is the auction.
If you're tired of paying antique store prices for your
collecting, you
should give it a try. How do you get started?
First, find your auctions. There will be ads in your local paper. Since auctions are usually held on the weekends, the ads ought to be in Friday's paper. The ad will give details of what sort of merchandise is being auctioned, along with time and location. Find some auctions that interest you and look them up. There are several types of auctions, on-site and off-site. The on-site auctions are held at the auction house, usually indoors and usually with folding-chair seating. Off-site auctions are held just about anywhere, at a private home for an estate auction, at a business for a business liquidation sale. These sales will usually be outdoors under a tent, and there may or may not be seating. It's a good idea to bring along a folding chair, just in case, and comfortable shoes are a must! Some auctions provide boxes and newspaper to wrap your purchases and some do not. Until you know which auctions will provide this, it's wise to bring along some of your own. In fact, it's always a good idea - sometimes the auctions that provide boxes run out of them. When you arrive at the auction, you need to check in and get your bidder number. There will be an office or counter at an on-site auction, and a trailer for an off-site. You'll be asked for ID, address and phone number, and given a card with your number on it. This is the number you'll be waving to bid. At this time, check to see if the auction charges a buyer's premium. Some auctions are still no premium, but most charge a premium that is usually ten percent. What this means is that a ten percent charge is added to your bidding total before taxes are calculated. If your winning bids total $200, you will be charged $220 plus tax. Now check out the merchandise, and take a good hard look at the items you're considering bidding on. Auction merchandise is sold 'as-is', so if you find a crack after your winning bid, it's too late. As the auction progresses, keep a running total of your winning bids, so you won't be in for a shock when you check out. Auctions move fast, and those totals can mount up. Don't be discouraged if your first auction experience is unsatisfying, whether it's an auction with too much junk and too little of interest, or one where the prices go sky-high. Auction houses develop their own character and clientele. In the rural area where I live, there are seven main auction houses. (There will be many more in an urban area.) Two of them are usually too pricey for me, and two are too low rent. I tend to go to the three auction houses in the middle. So shop around to find the auction house that fits your budget. Another distinction is whether or not the auction is a catalog sale. This just means there's a listing of items to be auctioned, and the items are sold in the listed order. Auctioneers run a catalog sale when they have more high-end merchandise, so bargains are less likely, but it does give you a complete and specific list of what they're selling. Sometimes you'll see 'box lots' in the auction ad. This means that items are sold in boxes, sometimes hauled right out of the attic of the estate, unsorted by the auctioneers, and sometimes holding hidden treasures. I'm a big fan of box lots; here's where you can find some real bargains, especially if they're grubby. Some auctions will have two auctioneers selling at the same time, by the piece inside the tent, and by the box lot out in the yard. When this happens, you have to stay alert! Have a good poke and snoop through the boxes to see which ones you want to bid on, and keep track of which direction they're going down the line of boxes; you might have to dart back and forth between the tent and the box line. Weekend auctions usually start at 9:30 or 10, and when they end is variable. Sometimes they'll be through by 2 pm, sometimes they'll go to 6 pm. If you're looking for bargains, make sure you stay to the end of the sale, because that's when you're more likely to find them. At the beginning of the auction, everyone is fresh and eager and their wallets are full. But later in the day, the crowd has thinned, those who are left are starting to notice how much money they've already spent, and the auctioneers are moving the merchandise faster. Get to know your local auctioneers, get on their mailing list, let them know what you're interested in collecting. Sometimes the auction ads don't give a lot of details, so when the auction is a significant drive from your home, it's nice to be able to call and ask, "Do you have my kind of stuff in this sale?" Auctioneers will be glad to help you out because they want to keep you as a customer. Summer is the high season for auctions, so if you haven't tried them yet, find some auctions and get started! Back to Collectors Corner Copyright 2005
by Joyce Lee Harmon
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