It takes an open-minded person to take part in buying antiques at auctions. Auction houses are many across the country, some large, others small. The staffs are well aware of their duties and informed about the antiques. The auctioneers are highly qualified, knowledgeable, and can easily recognize a valid bid.
Why Purchase at an Auction
The hard-to-find items, antiques, vintage furs, estate jewelry, and art, among others, are usually found in auction houses. Auction houses are involved in private collections and real estate giving them access to many unique products that have been in certain families from one generation to the other. The quality is exemptional with fewer to no fraud cases.
What are the Estimated Prices?
The value of an antique depends on many factors; historical significance, condition, object’s availability, provenance, and authenticity. The experts acquire all items at the current market value. The market value is not fixed and may fluctuate over time. This will affect the starting price or value of the place bids. When buying antiques at auctions, only the highest bidder gets to walk away with the prize.
It is necessary to do your homework before considering buying antiques at an auction. It might seem like such an easy process, but it requires a lot of knowledge of the antiques and the value of the products. Before bidding, ensure you read the entire catalog. In case of questions, do not be shy to ask. To prepare for bidding, auction houses hold exhibitions that allow potential clients to analyze and inspect the antiques. Clients who are unavailable for the exhibition are sent a full report and photos.
Types of Antique Auction Sales.
Most auction houses hold two main types of sales; cataloged sales and non-cataloged sales.
Cataloged Sales (antiques and fine arts)
Catalogs sales are usually antique sales and fine arts. They are held three to four times a year; April, July, and October. It comprises a variety of quality products that are printed in indexed catalogs. Good catalogs are collected by many sellers and buyers to use for future reference as a source of information.
Non-cataloged Sales (General Sales)
Non-cataloged sales consist of general sales. They are held once or twice a month and have no catalog. These sales are composed of household products, old retail stock, and bankrupt stock. General sales are more advisable to market traders and car boosters.
Buying antiques at auctions is not as easy as it sounds. It is not just shouting prices higher prices than your competitors. It involves a thorough research and perfect knowledge of the market, knowing the estimated value, the country of origin, among many things. Bring in experts and specialists to examine the quality of the antiques during the exhibition before taking part in the auction.