NINE AUCTION DONT'S

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Avoiding The Pitfalls of Auctions

By Mark A. Roeder

I love auctions. I’ve probably purchased at least half of my antiques and collectibles at household sales, eBay, and auction houses. The title of this piece might lead one to believe this is an anti-auction column. Nothing could be further from the truth. This isn’t a column about how to keep the big, bad auctioneer from taking advantage. In more than forty-five years of attending auctions I’ve only run across one auctioneer I considered dishonest. The rest were helpful, conscientious, and willing to go out of their way to make things right. No, this column concerns not auctioneers, but the true danger at auctions—you. A bidder can be his or her own worst enemy. The ill prepared often pay too much, or purchase a treasure only to discover that it wasn’t such a treasure after all. Keep the following tips in mind to help make your auction experience an enjoyable one.

Don’t arrive late:

Getting to an auction late means there won’t be time to check on the condition of items of interest. It also means that it may be impossible to dig through box lots because there is already an impenetrable crowd gathered around them. Getting there well before the sale is a must. Arriving late will leave you in the dark when it comes to the items up for bids. This is even true about eBay auctions. There is no crowd to contend with online, but one does need time to check out the details of the sale, the return policy, shipping, and all the other little details that can make the difference from a good buy and a mistake.

Don’t bid in anger:

Keep cool when making bids. Don’t let the rude and unkind get under your collar. Bidding beyond your limit on an antique to keep an unpleasant bidder from getting it is a mistake. The only person you’ll hurt is yourself and it will end up costing you money. The person who walks away with the item up for bids isn’t always the winner.

Don’t get carried away by auction fever:

Auctions are exciting. The activity is often fast paced and it is easy to get carried away. Suddenly one is bidding $250 on a rocker that one thought would look nice on the porch if it didn’t go for more than $150. Think before bidding. Have your top bid firmly in mind before making your opening bid. Once the decision is made, stick with it. Don’t wait to think about it until the bidding has already started. Before the antique comes up for sale you should have your maximum bid firmly in mind. Set your top bid as high as you like, but make sure you are willing to pay that much. Setting a top bid and sticking with it is the most important thing one can do at an auction. Protect yourself. Think ahead.

Don’t buy without knowledge of value:

Bidding without knowledge of values can lead to overpaying. Never base your estimate of the value of the item on what others are bidding. The other bidders may be bidding far above value for any number of reasons; the antique up for bids may have belonged to a family member, a bidder may be determined to buy it no matter the cost, the other bidder may keep bidding simply because you do, and etc. Educate yourself on values before you bid and rely only on yourself when determining how much to bid, otherwise you may end up paying too much.

Don’t fail to keep track of items of interest:

Things tend to move around at auctions, especially items in box lots. Keep track of any item of interest. The smaller something is, the more it will move around. If you don’t keep a close eye on your desired treasure it may sell when you aren’t looking. Check on interesting box lots from time to time, especially right before they sell. Make sure that whatever you are interested in is still in the box when it comes up for bids.

This is just as true on eBay. Items don’t get moved around, but it’s easy to forget about pieces on one’s watch list, especially when the end of the auction is days away. I know! I’ve done it! I try to remember when items of interest are selling, but like everyone else I get busy and the end of the sale slips my mind. To remind myself I sometimes write myself a note. EBay itself sends reminders by emails and in the eBay app. The best protection I’ve found is to leave my top bid well before the end of the sale. There are some disadvantages to doing so, but I don’t have to worry about forgetting the auction.

Don’t be scared of dealers or other collectors:

Some collectors assume that the presence of a dealer means they won’t be able to buy anything. Some dealers do seem to pay ridiculous prices at times, but keep in mind that they intend to make a profit on most of what they buy. A dealer cannot pay top price for an item and hope to sell it for more. A collector should be able to outbid a dealer as long as he or she is willing to pay near the going rate. Other collectors are a greater source of competition, but don’t assume that they will be willing to bid more than you. Several collectors may be hovering over the 1950s kitchen items you have your eye on, but most of them will probably be interested in it only if they go for a song. Don’t let others scare you away. Stick in there and you may well be the one who walks away with a new treasure.

Don’t buy on a whim:

A bargain isn’t a bargain if you don’t really need it. Often auction-goers buy something on a whim because it seems to be going cheap. This isn’t a good idea. You may find that you don’t really want it at all. Decide what you want before the bidding starts. Think ahead, it will save you a lot of headaches.

Don’t forget to bring the proper packing materials:

Be prepared for success. If you are in the market for glass, make sure you have cardboard boxes and plenty of paper to wrap up purchases. If furniture is the goal, don’t forget old blankets and rope. Think about what packing materials will be necessary if you are successful at the sale. Without the proper packing materials your new treasure could be damaged on the way home.

Don’t get discouraged:

I sometimes go to auction after auction, without being able to buy anything. I swear that there is a conspiracy to keep me from making a purchase. Don’t get discouraged. Not every auction will be a success. Keep in mind that a great find or a bargain can make up for a lot of not so hot auctions. Don’t let a few unsuccessful trips turn you off to auctions. A sale down the road will have the antiques of your dreams.