How to buy at an Auction Pt 2
Part 2
Bidding and Registration
In order to bid in any auction you will first need to give the Auction House your details, name and address, contact details, etc… If you are bidding in person at the auction you can do this just before the sale, usually on the day of the sale, by filling in a registration form at the auction house, when you will be given a bid number.
The bid number is for that particular auction and is a number printed or written on a card, or paper. It may even be what is known as a paddle, which is like a table tennis bat, with a handle you can use to raise your number and show the auctioneer, who will note the number against a successful bid. Please return the auction paddle or card when you leave, for re-use. There will normally be somewhere you can drop this off.
There are some auction houses, where once you are registered they will assign you a number which is yours, and you use it each time you bid with that auction house.
When bidding in an online auction you will be required to create and online account with the auction house, if they have their own online facility, or with an online auction platform
This will include providing your card details. This is your account which will provide you with a record of your details (which you may need to change at some point) and facilities such as invoices, payments, records of payments and suchlike.
This account is separate from auction registration, and you will need to register to bid in each individual auction. Once you have an account this is an easy confirmation, but be aware that auction platforms and some auction houses charge a small fee on your card when you register, whether you bid in the auction or not. This can be as little as 10p per auction which you may feel is insignificant, but best to be aware.
Viewing days
Each auction will have a day or more set aside for viewing. This information will be advertised with the auction information on the website or in the auction catalogue.
On the viewing day you will be able to view, and probably inspect and handle the item of interest. This can be vital, if you are a serious collector as you can inspect the item(s) for flaws, missing elements, damage, maker's marks, provenance (more on this later) and overall quality.
I can’t emphasise enough how viewing at an auction will add to your knowledge and experience, plus, it’s really cool! You will, if you collect jewellery for instance, be able to inspect, handle and perhaps try on items worth many times your budget, or even rare things you would not experience any other way! You may also be able to handle and inspect valuable objects you would not be allowed to touch in a museum or even a retail environment.
I can count thousands of items I have been keen on only to view them and change my mind. In the opposite way, viewing an item can really cement your commitment to it! I really like it in the picture, and now I see it close up, it really is beautiful!
A word of caution! If you are new to auctions inspect low value items and get used to handling them! A slip, a breakage, and you are liable for the full value. You broke it! You bought it!
When at a viewing, buy a catalogue. Catalogues vary from a few sheets of printed paper which may be free, to a full colour illustrated glossy book that may cost tens of pounds. The style of catalogue will vary by the style of Auction. Let me explain. If you go to view a fine art sale at a prestigious auction house, the auction estimates may start in the tens of thousands of pounds for each item described. If you are prepared to pay a hundred thousand pounds for a work of art, then you probably won't notice the fifty pound cost of the glossy catalogue! If you are a mere mortal like myself, then a few pounds for a printed list is probably your bag. In either case the catalogue will give you full descriptions of the items in the sale and a host of other information, size, weight, provenance (more on this later). Experienced collectors keep and collect auction catalogues as they prove to be an education as you move along in your collecting voyage.
So, you have studied the item that interests you online. You have arrived at the auction house on a viewing day, and you have acquired a printed catalogue. Oops you forgot a pen. No worries the auction house will probably lend you one, they may even give them away free, with their name printed on them as a promotional gift.
Don’t rush! You will be excited to spot the item you have come for, but don’t rush. Take time to look around the entire sale. Note things of interest in your catalogue, take a look at the auction estimate if there is one, this is a guide to the value, but only a guide.
You’ve spotted your desired object, but wait! Someone else is looking at it! They’ve picked it up, and turned it over! They're examining it closely, Oh no! They're probably going to bid far more than I can! Stop panicking! Viewing an item is not necessarily an indication of a bid, in fact it hardly ever is. I have viewed tens of thousands of items at auction, but I have probably not bought a tenth of that. You view things in order to reject them. Engage them politely, “It’s a really nice thing that isn’t it?” They may give you valuable information. “Do you like it? I don’t like the colour”, I have three already, 19th century examples, I’m pretty sure this is 20th century”.
Do you still think this person is going to bid? However, they have given you a considered opinion, they think it’s quite young. What do you think? Examine it closely. The catalogue lists it as 19th century, and it’s marked on the base. Time to do your research. Look up the mark and see that it is in fact 19th century. The auction house is usually right.
Auction Descriptions
Each item offered for auction, will be accompanied in the catalogue by a description of the item. This will offer information such as title, age (historic period), material finish, pattern, shape i.e. A 19th century mahogany foldover card table, the sides and legs inlaid with ebony and boxwood stringing, supported on reeded tapered legs terminating in small brass castors.
Beware of the word ‘style’. Regency style is not Regency, Chippendale style is not Chippendale. The word is not meant to deceive, but beginners may be tempted to misread. The item may be period, it may have a great deal of age, it just looks like an item from another period. If the item is reproduction the description should say so, although I have seen repro that has fooled experts. View the item and convince yourself.
Judging the age of an item is an expert craft, look at enough examples and you will gain that expertise, but for the most part Auctioneers are correct.
Provenance
Provenance is evidence of an item's history. If the Auction house has this they will mention it in the catalogue. Hearsay though is not provenance. This is thought to have been painted by Van Goch, is not provenance. However, it may be a clue to your research, only you, your research and experience will help you decide if this is true or not.
Condition Reports
The Auction Description may sound nice, especially accompanied with a photograph. The description is factual and accurate, but please remember that this is not a Condition Report. If you want to understand the condition of an item you can either go and see it, or ask for a report.
There is no substitute for going and standing in front of something. If you have no opportunity to visit the item in person, the auction can provide a Condition Report. This may be a phone call, or an email to ask a question, or there may be a facility online to fill in a request for a condition report. This will tell you in detail whether the item is in fair, good, or excellent condition, if there are cracks, scratches, broken, or missing pieces.
Condition reports are usually very good, but usually, once requested they will be published alongside the description on the website for others to read. This prevents the need for the auction to respond separately to multiple condition report requests.
Auction Estimates.
An auction estimate, if there is one, will be a range, published next to the item description, let's say 80 - 120 pounds (if you're looking online at an auction outside the UK of course it can be in any currency, in this case be sure you understand the exchange rate. I may cover international auctions in another blog)
Let’s say then the estimate is £80 - 120. I have seen items sold for below the bottom estimate, and many times the top estimate! There are no limits.
If the auction estimate is low. The auctioneer's estimate is based on age, condition, and rarity. If you see a 17th century snuff box by a major silversmith in seemingly good condition and the estimate is lower than you expect, be suspicious!
Reserves
The item may have a reserve price. This is an instruction from the seller of the item to the auctioneer not to sell the item below a certain price, the reserve. The reserve price is not usually published, but for an item like this the reserve is probably around the lower estimate, in this case the lower estimate itself (£80) could be the reserve or perhaps a little below the bottom estimate say £70. So be prepared to bid at least this.
The item may not have a reserve. In that case the auctioneer may start the bidding lower than the bottom estimate. Auctions are always a surprise.