ANTIQUES, COLLECTIBLES & FINE ART AUCTIONS

HOW TO BID, ABSENTEE BIDS, PREVIEW, ETC

This section is especially helpful to those of you who are not familiar with auction proceedings.  It was designed to help you feel more comfortable attending your first auction.  If you wish to see a copy of the article “ANTIQUE AUCTIONS – HOW TO – HELP FOR THE BEGINNER”, which was published in the Citrus County Chronicle, please arrow further down on this page...

Behind the Scenes

Prior to auction day, there are many things going on behind the scenes.  Merchandise is being purchased outright and consignments are being accepted.  Displays are being set up in our showroom.  Items are being researched and organized and a catalog, with a detailed descriptions of each item, is being developed and printed for distribution.  Our displays are usually vignettes that each include an oriental rug, antique furniture, a sterling silver item or two, antique paintings, art glass, lamps, clocks and antique ceramics or porcelain, so that you can envision what the antiques will look like displayed in your home.  Other auctions may have showcases which categorize items such as Hummel & Lladro Figurines, Carnival & Depression Glass, Antique and Estate Jewelry, Sterling Silver and so on.  Still others have no rhyme or reason, and display their antiques and estate merchandise in no particular order, sometimes even piling antique furniture on top of each other.

Absentee Bids

If you see something you would like to bid on, but are unable to attend the day of the auction, you may leave what is called an absentee bid.  You may submit an absentee bid in person or via email, fax or telephone.  An absentee bid simply means that the auctioneer will place bids on your behalf up to the maximum amount you have pre-specified.   Example:  If your maximum bid is $200, but the bidding stopped at $100, you would get the item for the next level of incremental bidding, $125 for example. 

Preview

Typically, preview will be held for several days prior to auction, as well as the morning of the sale. Preview ends approximately 15 minutes before the auction begins.  The exact times and dates will be included in notices and advertisements.  This is the best time for inspecting the merchandise at your leisure and asking questions in a relaxed atmosphere.  Many people make use of the auction catalog during preview, by marking the items on which they would like to bid and they will make notes regarding condition, etc. as well.  The preview is an excellent time to register and obtain your bidder number – then you can skip the registration line on the day of the sale.  

Registration

In order to place a bid during the auction, you will have first had to “register” and obtain a bidder number.  By registering for a bidder’s number, you agree to the terms and conditions of the auction.  If you plan on participating in the bidding, you will need to provide:

  -A driver’s license and one other form of ID. 

  -A resale certificate if you are tax exempt.

- If you will be paying by check, we may ask to keep a credit card on file. 

Registration provides you with a bidder’s number, and also ensures that you will be on our mailing list for future sales.  If you attend the preview, you can register at that time, and avoid the last minute rush prior to the start of the auction.  

Announcements

The auctioneer will begin the auction with a list of announcements.  It is important to listen carefully to this information, as he will explain the rules of bidding, the buyer’s premium, acceptable methods of payment, sales tax, and other important information and policy.  He will address commonly asked questions, and give a brief tutorial about the auction process.  If this is your first auction, you should feel at ease by the time the announcements are through.  

Bidding during the auction

The auctioneer will speak clearly, but the pace is rapid.  Since approximately 100 items per hour will cross the auction block, bidders must pay careful attention, so they don’t miss an item.    If the auctioneer does not receive a reasonable starting bid on an item, he may “pass” the item and go on the next lot.  “Passed” items will NOT be brought back up to the auction block, and will not be available for purchase after the sale.   The auctioneer will be processing 3 types of bids:  those from the floor, absentee bids (which will be identified as such) and occasionally he will also be accepting bids from someone out of state via telephone which will be called out by one of our staff.  Bids will be acknowledged by the Auctioneer, or one of his associates, sometimes called a “ringperson”, who takes note of the bid and passes them on to the auctioneer.  Be sure to hold your bid card or your hand up high so it can be seen clearly from the podium. The highest bidder acknowledged by the auctioneer will be the purchaser.  In the case of a disputed bid, the auctioneer has sole discretion in determining the successful bidder.  

Check Out

At the end of the auction, you will proceed to the cashier who will provide you with a computerized list of your purchases.  You will be asked to verify your purchases and pay for them in full including applicable buyer’s premium and applicable tax.  During the auction the staff will usually hand you items such as glassware and porcelain, but the estate and antique jewelry will go to the shipping department, as will the items too large to hold at your seat such as furniture, oriental rugs, and large oil paintings.   After payment has been made, you will proceed to the Shipping Department, where you will show your receipt and receive the antiques and collectibles they have held for you.   All merchandise must be paid for immediately after the sale, even if you won’t be taking everything with you that day.  Special arrangements can be made to pick up large items such as antique furniture and large Persian carpets in a day or so, and we usually have delivery available as well.

Please see also Terms & Conditions on the "Upcoming Auction" page.

SEE YOU AT THE AUCTION!  

“ANTIQUE AUCTIONS – HOW TO – HELP FOR THE BEGINNER”

by Diane Fudge of Professional Appraisers & Liquidators, LLC,
800 SE Highway 19, Crystal River, Citrus County FL

Located in Crystal River, (Citrus County) and St. Petersburg (Pinellas County) Florida, we serve the entire state of Florida and have representatives covering the entire East Coast of the USA.  We buy antiques, sell antiques and auction antiques.  We are specialists at Estate Liquidation and Estate Auctions.  We also will hold a Tag Sale or Estate Sale for you anywhere in Florida or the east coast of the US (the distance we travel, of course, depends on the size and value of the estate).  Call us, the “Professionals”, before you make a costly mistake.  We have over 50 years experience among our staff in Appraising Antiques & Auctioning Antiques.  We offer something that money can’t buy -- kindness, caring, compassion, and experience  and “We make house calls!”

INFORMATION YOU SHOULD KNOW ABOUT AUCTIONS

Despite their widespread history, live auctions are still a mystery to many people today. Although there are some people who buy everything from cars to homes to groceries at auction, and many others who occasionally attend as a form of entertainment or looking for a bargain, there are still many people who wonder exactly what goes on behind the doors of an auction hall or auction gallery.

Ironically, more people are familiar with the relatively new on-line auctions, such as E-Bay, than live auctions which date back to ancient civilization. Auctioneers are often asked if an entrance fee is required and whether or not the auction is open to the public, or does one need to “belong” in order to attend. The good news is that most auctions do NOT charge admission, and even the most prestigious auction galleries are open to the public -- No membership required!

Auctions have taken place around the world for centuries. It is rumored that auctions date back to the early days of Egyptian Civilization. In ancient Rome, soldiers would sell their plunder at public auction. Here in the United States, in the days following the Civil War, military surplus was sold at auction. In fact, the title of “Colonel”, still awarded to auctioneers today, was first bestowed upon the contractors who were enlisted to liquidate the Union Army’s surplus after the war. Following the Great Depression, to their dismay, thousands of farmers found their land and possessions on the auction block because the banks had foreclosed on them. In present day America, you can buy almost anything at auction. Even Sue, the largest and most complete Tyrannosaurus Rex dinosaur, was purchased by The Chicago Field Museum at a Sotheby’s auction.

Some of the most popular types of “live” auctions are Automobile, Real Estate, Personal Property, Livestock, Antiques & Collectibles, Art, Wine, and General Merchandise. Although these categories themselves share little or nothing in common, their auctions bear little difference. Someone familiar with a Cattle Auction, for example, would find little difference in the terms or procedures of an Antiques & Collectibles Auction.

So what exactly does go on at an auction? If you’ve always wondered, but didn’t know whom to ask, the following information is for you.

How Do I Find An Auction to attend?
Search the classified section of your local newspaper. Most classified sections have a section for auctions. You might also search by a category such as “Automobiles” or “Real Estate”. Some auctions will advertise under the corresponding category rather than in the general Auction Section of the classifieds.

Look in trade publications.
If you are a toy collector, or wine connoisseur, for example, you will likely find a specialty auction in the trade publications relating to your hobby or interest. Antique Malls usually have free newspapers which contain auction calendars.

Watch for signs.
Many auctioneers will display street signs and/or banners prior to an auction.

Search the internet.
The following websites provide calendars of upcoming auctions nationwide:
http://www.auctioneers.org
http://www.antiquesandthearts.com
http://www.auctionguide.com
There are many others, including a calendar of auctions all over the world at http://www.antiquestradegazette.com

Join an Email Notification List:
Some auction houses maintain a list to notify their patrons of upcoming auctions via email. Others use a service called Auctiontecs, who send email notices to advise their subscribers of upcoming auctions in the Central Florida area. Their service is free and you can subscribe at http://www.auctiontecs.com.

Direct Mail Lists: 
Many auctioneers maintain a mailing list. Call and ask if you can be placed on their list so you will be notified of their upcoming auctions.

What Preparation do you suggest?
Once you’ve located an auction to attend, you should do a little homework!
Find out whether the auction will be held inside or out and if seating is provided. If the auction is inside, chances are that seats will be provided for you, and the hall will be heated or air-conditioned, but it is better to ask than to assume. If chairs are provided, do they have cushions? Or better yet, find out if you are allowed to bring your own – most auctions last several hours, and the chairs at an auction are not always the most comfortable. If the auction will be held outside, you most likely need to bring your own chair, but again, it is best to call and ask. If the auction is outside, you should consider a hat, umbrella, and sunscreen, especially if you will not be under a tent.

Will a food vendor be present?
You will want to know if you will be able to purchase food or soft-drinks at the auction. If not, bring a snack or even pack a lunch.

Are boxes and packing materials provided?
Ask if the auction house provides boxes, or whether you will need to bring your own in order to take home the treasures you purchase. Each auction house is different. If you will be bidding on fragile items and packing supplies are not provided, be sure to bring your own paper as well.

Obtain an Auction Catalog
Many auctions provide an itemized list of items to be auctioned, called a catalog. Often you can find the catalog on the auction gallery’s website within the week prior to the auction. If this is the case, you can print a copy to take with you to the auction. If you don’t have Internet access, you can usually get a catalog when you register for the auction. While some auction galleries still provide free catalogs, more and more are charging a fee to cover the cost of printing. Either way, the catalog is an excellent tool in preparing for an auction. First, you will want to circle the items that interest you. Next, you can do some research to find the current market value of these items. You can find the going price for almost any item by doing a little research on the Internet or at your local library. Most seasoned auction goers make notes on their catalog indicating how much they would like to bid for a given item. Then they are less tempted to get caught up in the excitement of bidding and perhaps over pay for an item. Your notes will keep you within your budget. If the Terms & Conditions of the auction are in the catalog, read them carefully – each auction house’s policies are different.

Observe:
If you have never attended a live auction, you might want to attend one strictly as an observer. There is never an obligation to buy, so why not sit in and become familiar with an auction before becoming a participant? You can watch how others bid and get an overall feel of an auction’s atmosphere.

A few things you will want to pay particular attention to:
Does the auctioneer speak clearly? (A good auctioneer speaks quickly, but clearly. You don’t want to worry whether you just placed a bid for $15 or $50) What prices are items you admire going for? Are you satisfied with the quality of the merchandise? Where would you like to sit when you are ready to participate (Where are the best seats?) Is the staff friendly? Does the auction run smoothly and professionally? Are there any terms or lingo being used that you don’t understand and will need to research prior to actually bidding? An auction is entertaining and exciting, whether you are a participant or spectator, so why not start out as a spectator? A “Practice Run” will help you feel more at ease when you are ready to participate.

Ready, Set, Bid!
You’ve done your homework and are ready to attend your first auction.
What’s next?

Attend the Preview.
This is one of the most important steps in the auction process. Almost every auction, including the famous galleries in New York have an “AS IS/NO REFUNDS” policy. Each auctioneer or auction house differs in their disclosure of defects or imperfections. Some mention chips and cracks in their catalog or announce them from the auction block, and others don’t. Therefore, you will want to carefully inspect each item you might bid on, especially if you are not familiar with the practices of a particular auctioneer. Every reputable auction house allows ample time for preview (usually the day prior to auction and the morning of the auction), and making use of this time will pay off. Preview is also an excellent time to learn, so ask questions! You might be surprised to see how willing the auctioneer or their staff is to pass along their knowledge about a particular item and it’s history during the relaxed atmosphere of a preview. Don’t be afraid to ask! Many auctioneers will provide an auction estimate or discuss the provenance of an item when asked. If the auctioneer is experienced, their estimate will most often be pretty close to the price the item actually sells for when it hits the auction block, although there are always a few items that will surprise everyone by selling much higher or lower than expected. While you are previewing the items, carefully examine “box lots”. Many an auction-goer has found a treasure hidden in amongst less valuable items grouped together as a box lot. See if you can find a hidden treasure! In addition to examining the merchandise and asking questions during preview, most auction houses will allow you to register at this time. Registering during preview can save you from standing in a long line right before the auction begins. Many auctions will also allow you to reserve seats during preview. As you can see, there are many reasons to attend preview. If you attend the preview, you can arrive for the auction with seats reserved, a bidding number in and, and information about the items you wish to bid upon.

Register.
Whether you register at the preview, or wait until just prior to auction, you will need to have a few things handy. You will need your driver’s license or another form of photo ID. A bid at auction is a legally binding contract, and most auction houses are not willing to enter a contract with a complete stranger, therefore, you will need identification. If you are purchasing items for resale, you will need to bring a copy of your resale certificate in order to establish tax-exempt status. If the firm accepts checks, you may need to have your check pre-approved at the time you register. Many auction galleries will ask to keep a credit card on file or a bank letter of credit to ensure they will receive payment, especially if you are unknown to them or from out of state If you didn’t receive a copy of the Terms & Conditions with the catalog, then be sure you get a copy when you register. When you place a bid at auction, you are agreeing to their Terms & Conditions, so be sure you fully understand and agree to abide by them.

At the Auction
If you’ve done your homework, become familiar with the policies of the auction house, perhaps attended an auction as a spectator, reserved good seats and marked your catalog with the prices you want to bid on each item, your first auction should be smooth sailing! Arrive early enough to be seated in time to hear the auctioneer’s announcements (usually about 10 minutes prior to the beginning of the auction). The auctioneer’s announcements are legally binding, whether you heard them or not, so its best to listen carefully. When an item you want to bid on comes up on the auction block, hold your bidding card or paddle high and maintain eye-to-eye contact with the auctioneer or one of his/her ringmen (people up front, helping the auctioneer). Keep your card in the air until the bidding goes beyond the price you are willing to pay (at which time you will want to promptly bring your card or paddle down). If you were the high bidder, you will hear the auctioneer announce your number and repeat the high bid or purchase price. Be sure you get into the bidding activity of an item early on. A “late bidder” is easily and often overlooked. If you are unsure whether or not the auctioneer or his staff has recognized your bid, it is perfectly acceptable for you to call out loud to get their attention. Avoid hesitating while bidding. In the time it takes for you to decide whether or not you want to go up another increment, the auctioneer may have already said “Sold” to another bidder. Always remember that the auctioneer has the final say at an auction. If there is a dispute between bidders, the auctioneer will determine who the highest bidder was.

Keep a record of the items you have purchased, so you can compare with the items on your receipt at checkout. (Although most auctions keep computerized records, they are still subject to human error, so keep your own records for comparison). Plan to stay until the end of the auction. The crowd usually begins to thin out towards the end and since there are less bidders competing you can often find the best bargains at this time.

When the auction is over, you will pay the cashier for your purchases. The purchase price and the Buyer’s Premium are BOTH subject to sales tax (unless you are tax-exempt). This is because the department of revenue considers Buyer’s Premium to be part of the purchase price. The Buyer’s Premium will usually range between ten and twenty percent depending on geographical location and type of auction. If you haven’t made prior arrangements to pick up your merchandise at a later date, you will be expected to take your purchases home the same day, so if you think you might purchase large items such as furniture, make arrangements for transporting them in advance. Many auction galleries offer delivery at an additional fee.

As you can see, auctions are not mysterious. They can be entertaining as well as a great way to save money. Household furniture, for example, goes for pennies on the dollar at auction in comparison to its original retail purchase price. A wise shopper can furnish an entire home at auction for the price it would cost to decorate one room in a retail store. An auction is also a great place to find unique, unusual and even one-of-a-kind items. Why not pay a visit to an auction, and see if you develop auction fever!

If you still have questions, you can contact the author, Diane Fudge of Professional Appraisers & Liquidators, LLC, 800 SE Highway 19, Crystal River, at 352-795-2061 or 800-542-3877.

Auction Checklist:
1) Pen or Pencil – to mark your catalog or keep notes
2) Driver’s License – Provides proof of identity for registration. Also needed if paying by check.
3) Checks, Credit Cards or Cash – Find out ahead of time what methods of payment are accepted. Determine whether a surcharge is added when paying by credit card
4) Boxes &/or wrapping paper – Some auction galleries provide these as a courtesy
5) Chairs or Seat Cushions – These may or may not be provided, ask first
6) Price Reference Books – For last minute price checks
7) Sunscreen/Shade Umbrella/Hat – If the auction is outside
8) Book, Coloring Books or Quiet Toys – If you are bringing children (Unless your children can sit quietly for several hours, it is best to leave them home, however, we do have some youngsters who attend our auctions and do just fine!)
9) Snack/Lunch/Water or Soda – If a food vendor is not available, you may wish to bring your own food and drink