Auctions can be a great place to buy your next antique if you know what you're doing.
There are many things you need to know and understand before diving into this high-risk / high-stress process.
Here are some of our top tips;
1- Participate in the preview. Even if you have seen photos in an auction catalog, you must attend the preview to review the products. Make sure it is possible (and won't be too expensive) to repair damaged parts. If you plan to bid, write down the box lot numbers and content.
2- Set a maximum price you want to spend. Set your limit for each item of interest and then stick to it. It is very easy to get caught up in the auction excitement and bid more than you want. If you doubt your willpower, get in touch with a friend so you can hold each other accountable.
3- Check the payment terms before the day of the auction. If you're planning to pay, make sure the auction house accepts checks or credit cards. Also find out about deposits and extra fees. For some auctions, you are required to make a refundable deposit when you register to bid. Some add a buyer's premium to your hammer price, which is your winning bid.
4- Double check the box's lot content. It is not unheard of for unscrupulous bidders to push content from box to box. Check on the morning of the auction to see if the official preview took place on the previous day.
5- Register for the bidder's card. You cannot join without registering, so do this as soon as you arrive.
6- Dress appropriately. Remember to dress practically, especially if the auction is held outdoors or indoors.
7- Wait for the best offers in the afternoon. As early morning bidders run out of money and energy, you will be less competitive for the winning bid.
8- When your item is full, start bidding. Auctions are moving fast. If you hesitate too long, the hammer may come down before you have the courage to bid.
9- Secure your purchases. If it requires payment and ownership at the time of the auction, be sure to bring your purchases to your vehicle or otherwise secure them.
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