Asheford Institute Of Antiques - Antique & Appraisal Home Study Course
  • Home
  • Free Book
  • About The School
    • Our Objectives & Faculty
  • Course Prospectus
    • Course Outline
    • taking the e-Course
    • 15 Teaching Aids
  • Become An Appraiser
    • USPAP Testing & PACC
    • AIA Appraisers - National Columnists
    • Articles From The Founder
  • Start An Antiques & Vintage Business
    • FAQ's About The Course
    • 2022 Survey Results
    • Our Top Web Picks
  • Conduct Estate Sales
    • Student Testimonials
    • Articles About Asheford
  • Course Tuition
    • Our Pledge To You
    • Asheford News-Ticker Headlines
  • Course Enrollment
    • International Students
  • Student News
    • Student Essays
  • Contact Us
    • Privacy Policy & TOU
  • 2022s Top Antique And Vintage Trends
  • Home
  • Free Book
  • About The School
    • Our Objectives & Faculty
  • Course Prospectus
    • Course Outline
    • taking the e-Course
    • 15 Teaching Aids
  • Become An Appraiser
    • USPAP Testing & PACC
    • AIA Appraisers - National Columnists
    • Articles From The Founder
  • Start An Antiques & Vintage Business
    • FAQ's About The Course
    • 2022 Survey Results
    • Our Top Web Picks
  • Conduct Estate Sales
    • Student Testimonials
    • Articles About Asheford
  • Course Tuition
    • Our Pledge To You
    • Asheford News-Ticker Headlines
  • Course Enrollment
    • International Students
  • Student News
    • Student Essays
  • Contact Us
    • Privacy Policy & TOU
  • 2022s Top Antique And Vintage Trends

Hammering Out The Auction Process

11/13/2019

 
Picture
Toronto - For antique and vintage dealers, auction sales can be a great way to build up stock. Whether you prefer the rush of the traditional live auction or buying online from home, there’s a sale to suit everyone.

Whatever the environment, auctions are exciting and fast moving, while for some, the idea of bidding at auctions can even be a tad intimidating. But the method, whether live or online, follows the same general principles, and once you get to know the basics, you’ll realize that it’s a straightforward and profitable way of buying and selling goods.

For those looking to get into the world of auction buying, here are some tips to make the auction experience a rewarding one.

Get to Know the Auctioneers
To start, get to know auctioneers in your area. Attend a few in person or log on during an online auction to see how things are done. Buying and selling processes can vary across auction houses, so it’s important to get to know how different companies work.

Know What You’re Buying
Once you’ve sourced a good auction and registered to bid, it’s a good idea to attend the preview or examine the online catalogue ahead of time. This will give you an opportunity to do a bit of research and assess the value of the items before bidding starts.

If you’re unable to attend a live auction, there may be an opportunity to leave an absentee bid. Online auctions offer an opportunity to place max bids ahead of time as well.

Set Your Limits
It’s easy to get caught up in the excitement of the auction process. Setting a limit ahead of time, and sticking to it will guarantee you don’t spend more than you can afford.

Once the live bidding starts, things move quickly, so it’s important to follow along and listen carefully. The traditional process is for the auctioneer to call out the lot number and a brief description of the item and the opening bid amount. Once that amount is met, the price increments move up until the bidding stops and the item is sold to the highest bidder.

In online auctions, however, there is often a ‘soft close’ on lots. As an item is coming to a close and there is a last minute bid, a few more minutes will be added to the clock to allow for more bids.

Watch For Other Dealers
Research is great, but sometimes you might not be able to find the answer you're looking for even online. However, if you think you've found something of value, but are unsure as to what to bid, look around for other individuals who appear to be interested in similar items as yourself. If it's the same small group popping up their auction paddles whenever you do, chances are you've found the dealers. Contrary to popular belief, most antique dealers welcome interaction with other dealers, and will often work with them to help identify items and share knowledge. While encouraging other dealers to refrain from bidding on an item is not allowed, and may be seen as collusion, expressing your particular interest in an item is not. 

Research Payment Terms
Get to know the payment terms. Is there a buyer’s premium (auction house’s fee)? Are there reserve prices placed on items (the minimum price the seller is willing to accept)? It’s important to factor in all of these costs including any additional costs for repairs, transportation, and even your time.

Pick-Up & Delivery
Make sure to check pick-up details for online auctions. Often items need to be picked up during a short window of time on a particular day. Some places may ship items, but this would be another cost to be factored into your overall budget. If you're planning on buying larger items, make sure they can fit into your vehicle. If not, consider renting a small trailer (if you have a hitch), or a moving van. But remember, you'll need to factor in these costs as a portion of your overall auction spend.

By simply adding these few simple tips to your outing, it's likely you'll have a more positive and profitable auction experience.

Picture

Martha Norton, AIA, PACC, is an honors Asheford graduate, decorative arts freelance writer, and a curator/dealer of fine antique and vintage pieces in Waterloo, Ontario, who can be found tending to her space at Mercury Antique and Vintage most days

Picture
NOTE: For readers seeking more information about the Asheford Institute Of Antiques distance-learning program on professional-level appraising, the study of antiques, collectibles, vintage and mid-century modern items, please click here to visit the school's Home Page. 

Should you have additional questions about the Asheford program, you can also write to the school at: 
info@asheford.com or call the Registrar's Office toll-free at: 1-877-444-4508


Comments are closed.

    AIA Staff

    We're providing our students and reader's with the latest breaking news on events and happenings that we think might be of interest to both collectors and dealers alike. Including changes within the world of antiques, vintage, collectibles and appraising that might just have an effect on your bottom line. We're also interested in hearing from you - so if you've got a great newsworthy story, let us know, and you just might find it here!

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    August 2022
    July 2022
    May 2022
    March 2022
    February 2022
    January 2022
    November 2021
    October 2021
    September 2021
    August 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016

    Categories

    All

    RSS Feed

    Legal Disclaimer: Extraneous opinions, statements and comments made by individuals represented within these posts do not necessarily reflect those of the Institute. The publication naming of specific business entities, organizations, and concerns, contained herein, in no way represents an endorsement or recommendation of services or products by the Institute. Publicly identifiable information contained herein (including, but not limited to contact information), has been intentionally limited where possible, due to privacy and legal concerns related to the digital dissemination of information through online means. All views expressed herein are those of their respective owners. The Institute is in no way responsible, financially or otherwise, for the accuracy or validity of statements contained within published posts from sources that originate and appear outside of the written and expressed views of those submitted by the Institute.

Free Prospectus Book

Picture
To receive your free hard-copy Course Prospectus Book about the Asheford Program (or to ask us a question), simply click on the
link below:
​ FREE BOOK

Social Media:

>>  Facebook
>>  ​Instagram
>>  Twitter

To Contact Us

Picture
Admissions Office & Information Hotline
Toll Free: 877-444-4508
Fax 705-645-2380
Web Page Form: Contact Us
E
mail: info@asheford.com

US Offices:
Asheford Institute of Antiques
981 Highway 98 E. Ste. 3, Dept. 275
Destin, FL 32541-2525

Canadian Offices:
Asheford Institute of Antiques
Ste. 313
200 Manitoba Street
Bracebridge, ON P1L 2E2
T. 705-645-5589

Our Friends & Awards

Picture
"International Antiques & Arts Society"
Member & Award Winner

Picture
"Antiques & Collectibles National Association"

Picture
"Association Of Restorers"

Home  |  Privacy Policy & TOU  |  Contact Us  
Copyright© 1994-2023 Asheford.com. All rights reserved.
  • Home
  • Free Book
  • About The School
    • Our Objectives & Faculty
  • Course Prospectus
    • Course Outline
    • taking the e-Course
    • 15 Teaching Aids
  • Become An Appraiser
    • USPAP Testing & PACC
    • AIA Appraisers - National Columnists
    • Articles From The Founder
  • Start An Antiques & Vintage Business
    • FAQ's About The Course
    • 2022 Survey Results
    • Our Top Web Picks
  • Conduct Estate Sales
    • Student Testimonials
    • Articles About Asheford
  • Course Tuition
    • Our Pledge To You
    • Asheford News-Ticker Headlines
  • Course Enrollment
    • International Students
  • Student News
    • Student Essays
  • Contact Us
    • Privacy Policy & TOU
  • 2022s Top Antique And Vintage Trends