Here is part seven of my guide to real life antiques auctions – “During the sale – The bidding process”.

 

So are you ready for the sale? Viewed, researched and decided what you want to bid on and how much you are willing to pay? You’ve registered, got your bidder number and you know how much commission you will pay on top of the hammer price?

 

 

Dont worry about attending the sale :

• - you will not win a lot just by fidgeting or scratching your nose. Infact at some busy, crowded auctions you will have to wave hard to attract the auctioneers attention at all. Once the auctioneer recognises that you have a serious interest in buying he /she will keep a look out for you. Be polite and turn off your mobile phone before the sale starts – you will regret it if it rings once the auction is under way.
• - A common myth is that an individual cant buy anything if there are a lot of antiques trade in the saleroom. Remember the antiques dealer needs to make a profit to survive, they are not going to outbid you unless they believe that the item is worth more and they can be wrong too.

 

1. Listen to the auctioneer.
Hopefully you have a few lots to wait before the first lot you want to bid on and can tune your ear in to the pace of the auction. If you are new to the sale rooms I suggest that you just watch the auctioneer for now and ignore everyone else in the room. How fast is he / she going? Does the auctioneer start with a high bid and when no one bids immediately reduce the opening bid by half ( many do). You will frequently hear:

One hundred pounds for this wonderful widget, who’ll give me one hundred pounds? No? Well fifty then, Fifty pounds surely its worth fifty pounds? twenty pounds then?

As you can see the auctioneer has created a sense that this is worth well over twenty pounds, maybe it is and maybe it isnt. You have written down the maximum price you are prepared to pay so stick to it and dont be influenced by the expert salesman on the rostrum.

 

2. Know when to put your bid in
I prefer not to be the first person to bid on a lot but if it goes as low as half of what I am prepared to bid and no-one else has shown an interest I usually get tempted to put my hand up.

Dont just put you your hand or bidding card and leave it their until the end of the lot – I’ve seen this happen many times and it indicates to the whole room that you have plenty of money and are going to buy the lot at any price. Remember that the vendor may be in the room, they may be an experienced vendor and there is nothing to stop them bidding against to to raise the maximum price.
Bid clearly and then take your hand or card down until it is your turn to bid again.

 

3. Know when to stop bidding – dont get carried away ( Auction fever)
Stick to that limit you wrote for yourself and dont go past it. If you have done your research properly the price you have written down should be one not to go beyond. Another wonderful antique widget will turn up in a few weeks / months time.

 

4. Upon a successful bid
Congratulations, the wonderful antique widget is yours! Once you are the lucky high bidder you will need to show your registration card number to the auctioneer. All the lots you are interested in have been sold you then go to the pay desk to settle your bill (see part 8 of this series on antiques auctions).