Going, going, gone! (Auctions)

Member Name: nikkisly

Product:	Auctions
Date:	05/01/02 (347 review reads)
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Auctions are a way of life here in the West Country. Sometimes they are held in purpose built salesrooms, sometimes in village halls, sometimes in barns, sometimes even in fields. Sometimes they are house clearances - or the combined contents of several houses. Sometimes they are the actual sales of houses themselves. Some are sales of specialist items such as stamps, cars, livestock or fine art; others are more general sales. All are great fun. Yet there are still people who are afraid of attending. They are frightened of bidding accidentally and buying something they don't want, afraid of being cheated, too self-conscious to dare to raise their hand and bid for an item - in short, they are missing the chance of some great bargains, not to mention an entertaining day out. Hopefully, this opinion will demystify the whole process and encourage you to pluck up the courage to give it a go. Be careful though - it's a very addictive hobby.

Where do I find an auction?

Auctions are usually advertised in local papers. If you have a salesroom near to you, look up the telephone number in Yellow Pages and telephone to ask when they hold their regular sales. Be very wary of 'one-off' sales, held by companies who are not local to the area. These are all too often the fly-by-nights who sell rubbishy goods - items that seem almost too good to be true, such as video cameras for £5. They are frequently illegal, at very least a total rip off and the purchaser has no come back since, in the excitement, they rarely note the details of the company concerned, even assuming that those details were legitimate in the first place.

How do I find out what's for sale?

Smaller general auctions usually list their most important lots in the newspaper advertisements. If you are interested in particular items - let's say antique teddy bears - you can register your interest with local auctioneers who will then inform you of any for sale in
your area. (This does tend to be somewhat of a hit-and-miss process though, so you would be safer keeping your finger on the pulse by regularly reading your local paper.) More specialised sales will have a catalogue, often with photographs included, that you can send for from the auctioneer. You will most probably have to pay for this but, since I'm writing more about general sales here, we'll gloss over that point and go onto...

Viewing:

You will be able to view the items on offer before the sale at a pre-agreed time. Most auctioneers allow viewing for an hour or so immediately before the commencement of the sale, but most also have an additional viewing period a day or two earlier. It's vital to take a very good look at anything you're considering buying. All goods are offered "as seen", although any electrical goods have to be tested prior to the sale. (Beware of things like old sofas that may not meet todays rigourous fire safety standards.)

Take a notebook and pen with you to the viewing and write down any lot numbers that interest you. Remember to also write down a brief description of the lot and your upper price limit for bids, but be discreet. Dealers excel at reading over your shoulder in order to find out how much you're prepared to pay for an item. They also love to hear people talking about things - do you really want to attract the attention of everyone in the room to your 'find'?

Take a careful look at items under the tables - usually cardboard boxes of odds and sods known locally here in the West Country as "Boxes of Contents". Many a treasure has been discovered amongst the trash.

Often auctioneers set "guide prices". Thus, our antique teddy may be expected to fetch £20-£30 on the day. My advice would be to simply ignore these guide prices, since the end result is totally dependent on who is actually bidding. I once didn't go to an auction, di
scouraged because the guide price stated far exceeded my maximum bid. The item in question - a roll top desk - was expected to fetch £400-£600, but was knocked down at a bargain price of £125, well below my limit of £200.

If there's something you see at the viewing that you can't resist, but you are unable to attend the sale, you have two options. The first is to arrange a telephone bidding facility, although this is usually only available at larger auction houses. The auctioneers' assistant will telephone you a few lots prior to 'your' lot and you will be able to bid as if you were there in person. A good tip for telephone bidding is to tell the assistant not to let you bid over your maximum price. It's all too easy to get carried away by the excitement of the occasion, as I once did bidding for a classic sports car on behalf of my husband, who was at work at the time. I suddenly realised that I was still bidding, even though the price had exceeded my upper limit by £2,000! Visions of bankruptcy and divorce sent an icy chill through my veins and never before or since was I so relieved when I was eventually outbid.

The other option is to leave what's known as a "Commission Bid" with the auctioneer. Suppose you really must have that old teddy bear but can't get to the auction in person. You leave your maximum bid of, say, £40, along with your name, address and telephone number and the auctioneer will place your bid "on the books". This has two distinct disadvantages: Firstly, on the day, you may be the only person interested in Teddy, in which case, had you been there in person, you might have bought him for £5. It is the auctioneers' job to get the best possible price for the vendors, so your commission bid of £40 is a veritable godsend when prices are low. Secondly, you are unable to watch the bidding and gauge the interest of your opposing bidders. At £40, Teddy may be rocketing up in p
rice in £10 leaps. On the other hand, he might be struggling along in 50p increments and £40.50 might have been a high enough bid for him to come home with you.

Talking of setting limits - a little tip. Never set your limit at a round figure. Psychologically, most people prefer nice round numbers like £10, £20 or £100. Setting your limit at £11, £21 or £101 may give you that added edge.

What happens at the actual auction?

On arrival, you may find that you have to register to bid. Some auctioneers insist on all bidders having a proper number or paddle to bid with, while others are more informal and will accept a nod of the head or a wave of the hand. Make sure that you allow sufficient time to make the required bidding arrangements, bearing in mind that traffic is likely to be heavy and parking difficult within close range of the venue. It is imperative that you are either there for the very start of the auction or that you ask an official before bidding about the terms of sale. Some auctions add VAT and many will add a buyers premium. (That bargain is not quite so good once you've added a 15% buyers premium and 17.5% VAT to your bid, is it?)

You should also be aware that it is an offence to bid for items if you don't have the wherewithal to pay for your goods. And bear in mind that many auction houses will not accept plastic, so you should either take a chequebook and guarantee card or 'pound notes'. (Beware of pickpockets in the crowds though.)

Oh, and dress for the occasion. It may be freezing but, in a hall packed with people, temperatures tend to rise quicker than the prices. Most auction rooms will have toilet facilities and coffee/tea bars, or maybe a burger van outside.


How do I bid?

Make sure you are in a position where the auctioneer can see you a couple of lots before yours. (You've already written down the lot numbers at the viewing, remember?).

The auctione
er will announce the lot number, at which point his assistant will either hold up the item or point to it if it's something large and immovable. Don't jump in too soon. Usually, the auctioneer will fish for bids, asking "Who'll start me at £40?" then look expectantly around the room. If there are no takers, he will say "£30, then?" and gradually drop the price until he receives an opening bid. The exceptions to this rule are Commission Bids, when he will announce a bid of £40 "on the books" or "with me", or items on which the vendor has placed a minimum selling price or reserve.

Bid clearly and decisively and don't be afraid to call out or whistle if the auctioneer hasn't spotted you. Once he has registered your bid, he will keep looking over to you for further bids until you give him some indication that you are no longer interested. You should gesture to let him know when you're definitely out of the running - a firm shake of the head or a "No" will suffice.

It's not auction etiquette to bid against your friends - and it's also a very stupid idea to bid against your partner, so if you go together, make sure you agree in advance which of you is doing the actual bidding. (This may sound obvious, but, in a crowded room, it's all too easy to become separated and not to be able to see who you are bidding against - ask my husband!)

If you are successful, the item is your responsibility as soon as the hammer falls. Thus, if you are buying anything expensive or valuable, it is a good idea to pre-arrange insurance just in case you are lucky. (My insurance broker will hold a cheque awaiting instructions by telephone.) You will be asked for your number or name, which the clerk will then write onto the progress sheets. As each sheet is filled, it is taken to the office area where you can pay for your goods. If you have bought small items, it is a good idea to colle
ct them as soon as you have paid for them otherwise they can be inclined to disappear. If you have bought larger items, make sure you find out when they have to be removed from the salesroom. (You will find "white van man" lurking at most auctions.) You can expect to have your receipt checked against the goods you are carrying in your hot, sweaty hands as you leave the premises.

If you were outbid, then it's always worth noting who the purchaser was and approaching them outside the auction rooms. I once bid for a black plastic bin liner that contained an assortment of blankets and cushions, simply because it also contained a pair of brand new, blue gingham curtains that I wanted for my kitchen. The successful bidder wanted the blankets for her arthritic dog - the curtains changed hands in the car park afterwards for 25p!

And that's all there is to it. There's nothing remotely scary or intimidating about auctions and there is a real chance to pick up a bargain. My past purchases have included a stuffed badger, an Indian embroidery, curtains (two pairs, lined, with tie-backs for 50p), satin walnut chests of drawers and wardrobes, a box of 50 true crime books (30p), a dog basket, bunk beds, and, my piece de resistance - a pine Welsh dresser which I stripped, wax polished and sold for a £300 profit through the small ads in my local paper a week later.

Did I mention it's also great fun?

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