A night at the Auction

Tonight I was at an auction preview and was talking with someone who was asking a lot of questions on how an auction was conducted, what some procedures were, etc. Based on the conversation I correctly surmised that this person had not been to an auction before and felt a bit lost, I don't know why they chose me to talk to but they did and I hope I helped. So tonight I want to briefly go over how to approach an auction if you've never been to one.

First find an auction that you might be interested in attending; this is easy as most local papers have an Auctions and Flea Markets section in the Classifieds, or that antiques magazine you picked up at the shop down the street is another good place to look. Once you've found the auction you want to attend, ARRIVE EARLY! Plan to be there about an hour but no less than one-half hour before the scheduled start, an hour is definitely better. Bring with you a magnifying glass or loupe, tape measure, pen or pencil and a small notepad. Some auctions are catalogued which means they will provide a numbered list or book which lists all the lots in the auction, others are not. At these uncatalogued auctions the notepad and pen/pencil come in handy for writing down the items your interested in with any pertinent information, it's easy to miss something you wanted when it's not written down.

I like to inspect the lots before I go get my number, that way if there is nothing I really can't live without I can just leave and I've bothered no one. BE SURE TO INSPECT! Check out the items you're interested in, that is what the preview is for, so take advantage. Check for chips, cracks, missing parts, and wear; measure and take notes, you have the time now and can't return an item you've been successful bidding on at an auction, so inspect and be sure it meets your standards.

Having inspected all the lots, if there is something you wish to bid on and are staying for the auction go to the auction table and register for the auction. This is a simple process where they take your name, address and phone, then give you a bidder number. They may also ask if you are a dealer, if they don't ask and you are a dealer, tell them as there may be additional paperwork to fill out for tax purposes. Now all you have to do is relax until the auction starts, get a soda, take a seat and relax. When an item you are interested in comes up for bidding, get in there by holding your number up to get the auctioneers attention, keep bidding until you reached the limit you've set for that item. SET A LIMIT and STICK TO IT, it's easy to get caught up in bidding and spend more than you wanted, so stick to your limits. Repeat this process until all the items you were interested in have crossed the block. Many times I've bid on several items and gotten none so don't be discouraged if you don't win an item, that's how this goes! Now before you leave you must go back to the table you registered at to pay for the items you've purchased, if any. Once paid for you will be able to pick them up, pack the car and go home to enjoy your new treasures.

Tomorrow I will cover what to do if you cannot stay for the auction, and some bidding strategies commonly used at auctions.