Archive for Auctions
Northampton has a new auction
Posted by: | CommentsI see that Northampton is to have a new auction following the recent withdrawal of Humberts to their Towcester base. According to a leaflet pushed through my door today : Freehold St Auctions will be held in the Nene Centre, Freehold street. That’s the same place as the old Humberts and previously Harps auctions were held.
The first auction will be on Saturday May 9th at 10.oo and every fortnight after that. Viewing is from mid day till 8.00 on Friday and on the moringin of the sale.
Well I will be popping along for a look at the viewing . I’m really not keep on Saturday auctions so my attendance at the actual event will be dependant on what I find at the viewing. I will report back tomorrow and hopefully have a little information on their commission rates as well.
Northampton needs an auction house
Posted by: | CommentsI see that Humberts are due to close their auction house here in Northampton in April. I am not surprised really as Northamptons only auction house really deteriorated following the take over of Harps by Humberts a couple of years back.
I for one stopped visiting those auction rooms despite them being less than 5 minutes from my home and I am sure many other antique dealers and collectors did the same. As a buyer I found they every last decent item had been sorted out and either moved for sale elsewhere or had an extortionate reserve. Good for the seller? Well not this seller it wasn’t. I regularly placed mixed lots for sale with the former Harps however once Humberts had taken over I found that they sorted and re-arranged my lots into many smaller ones. With their minimum lot fee and commissions they ended up taking over 50% of the hammer price. Down right greedy I thought and have never been back since.
So now Northampton is left without any sort of antiques and collectables auction room. Surely there must be a great business opportunity for the right person. If that’s you do contact me when you are ready to start up as not only do I have a load of mixed lots for you to sell also I will give you lots of publicity here on this antiques blog.
Selling your antiques and collectables at auction
Posted by: | CommentsIn the first part of my guide to selling your antiques and collectables I suggested that each of the different options for selling your precious possessions has its benefits and drawbacks and should be selected for different needs. In part two of the guide I will examine the option of selling through real life auctions and how to select your auctioneer.
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Antiques Auctions – The final bit
Posted by: | CommentsPart 10 , the last in my series of articles on buying antiques at auction. Here is one more thought you might like answered – do let me know if there are any more 
Can I take my purchase back for a refund?
The quick answer to this question is NO however there is an exception:
- if you notice that the item is not as described in the auction catalogue you might be able to get a refund in a day or two you will need to check the auctioneers terms and conditions. Take care here the auctioneers are pretty careful in describing things for example if they say “Victorian Style” you cannot expect to take it back if you find out it is brand new.
So what can I do about this?
Talk to the auctioneer, he might be willing to see if the under bidder still wants the item however you will not get your full purchase price.
Put it back into the next auction and hope for the best.
Which auctions do you attend Anne? And which are the most profitable?
Now that is something I’m not telling . You will need to put in many many hours ( Years?) of effort to answer that for yourself!
Antique Auctions part 9 – once you get your purchases home
Posted by: | CommentsSafely homewith your newly acquired treasure bought at auction? Here are a few of sugestions based on my experiences.
- - unpack these and examine them careful as soon as possible. If you have bought a large lot just to acquire one special piece this is particularly important as there may be other items of value in the lot which could be sold on.
- - Keep the receipt from the auciton house . This will help if ever you need to claim on your insurance following theft or damage to your antique.
- - Do not go mad on cleaning up you antique with modern day cleaning materials you can easily spoil it. Leave it until you find the correct way to clean your piece or get a specialist to do this.
- - Enjoy and go out and aquire even more!
The next part of my mini series on bidding at antiques auctions will be the conclusion and include a few special tips on specialist situations
Guide to real life antiques auctions – part 8
Posted by: | CommentsLucky you – your bid on some lots at auction and won the bidding. Hopefully you have made notes of the lots you have bought and how much the hammer price was as you may well need this information in next step. Part 8 of my guide to real -life antiques auction is about paying for and collecting your purchases.
Just a few tips here:
- - there will be a limited time to pay for and collect. Be warned some auction houses have a surcharge for lots not collected within a few days.
- - The goods are yours from the fall of the hammer and you are responsible for them so it is in your interest to pay for and collect as soon as you can
- - You can normally pay via cash, debit or credit card. If you want to pay a large sum by cheque you should ask in advance as this ay not be acceptable to the auction house. Most have a surcharge for paying by credit cards ( not by debit cards though)
- - You may have to queue to pay so allow plenty of time
- - Normally after you pay you will be given a receipt with a list of your lots and how much you paid for each. Hang on to this list as it is your proof of purchase. You may need to pass it to a porter who will get your items for you.
- - Make sure you have sufficient packaging, boxes and large enough transport to get your items home. If you are struggling do ask the porters who might be able to help. There would be a charge if they need to arrange transport for you.
Antiques Auctions – The bidding process
Posted by: | CommentsHere 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).
Real life Auctions – one of my favourite auctioneers in action
Posted by: | CommentsJust before my post on bidding live at real life auctions you can watch one of my favourite Antiques auctioneers in action. This is John Gilding from Gildings in Market Harborough selling a clock: