Auctions for Beginners

Money is a bit tight for everyone at the moment due to our current economic situation (thanks Covid) and whether you are just starting out on your antique journey or just looking to get some bargains under your belt, here are our top tips for beginners bidding at auctions.

1. Look at the catalogue & do your research!
   Take some time once the catalogue has been released to have a good look through it and make a note of any lots that you would like more information on and have a little look online to see what those particular pieces tend to go for. With the current Covid situations, not all auction houses are offering viewings before the auction, however you will still be able to get condition reports on lots that you are interested in and most auction houses are more than happy to help.

2. Check the payment & collection terms
   Some auction houses don’t take credit cards, some do; some auction houses don’t take cash (especially with current government guidelines) and some will be happy to take payment over the phone whilst others would rather you pay online. Best bet is to double check before you start bidding. You should also double check when you would need to collect any lots that you win — you don’t want to get stuck with extra storage charges if you’re late picking up your new items!

3. Set your limit — and stick to it (mostly)
   Have an idea of how much you want to spend and stick to that limit as it is very easy to get carried away and get caught up in a bidding war that you later come to regret! And don’t forget, whatever your highest bid is, you have the premium on top of the hammer price which, depending on the auction house, can be as high as 25%. But, if you’ve fallen in love with something and you think that one extra bid could make it yours, go for it, you may not find another one ;)

4. Don’t miss your lot!
   Sometimes there may be 100 or so lots before the one you really have your eye on and it’s easy to get distracted. If you are bidding online, most platforms have an alarm function you can make use of so you don’t miss it! If the worst does happen, hope is not always completely lost — if the item has not sold (maybe it’s not reached the agreed reserve or no one was interested at the time), you can call up to speak to the auctioneer after the auction to see if you could put in an offer for the item that has not been sold. Auction houses want to sell as many items as possible so they can make room for the next and they are always up for a deal, so be cheeky with your offer, you never know, it may be your lucky day!

5. Most importantly — enjoy yourself!
   Bidding at auctions is fun and can definitely give you a bit of an adrenaline rush, especially if you just made the purchase of a lifetime. Plus, if you can get down there and bid in person (once restrictions are lifted!), they are a wonderful place to meet interesting like minded people and learn more tricks of the trade.

Auctions have become one of the main aspects of my life, I’m a full time manager at one (Whittaker & Biggs), I bid on at least 2 or 3 a week, I buy 100’s of items every month, and my main form of aimless scrolling in the evening is through catalogues instead of social media so I would say that I am 100% addicted. Be warned — if you do decide to attend an auction, it’s like opening a tube of Pringles, once you pop, you just can’t stop.

So what are you waiting for? Get your paddle out and get bidding!