posted on March 25, 2001 09:22:08 AM
I've been to a live auction twice before. Only participated in the bidding at one. Anyhow, there are tons of auctions in the area over the next two weeks and I am planning on attending a few.
Do any of you have any tips to share? I would greatly appreciate it. I've already been able to access some of the catalogs online and do my research on the prices. Hopefully, I will be able to get some things for eBay, and some things for personal use.
posted on March 25, 2001 09:30:25 AM
Don't be discouraged if you get no bargains. More and more people are selling on eBay and going to live auctions for inventory, so you can bet there will be others there with the same agenda as you. I go to about 100 live auctions a year and the bargains are getting harder and harder to find. Its great that you did research first, now you get to sit back and shake your head at some of the prices people will pay thinking they will get a big return on eBay.
posted on March 25, 2001 09:35:53 AM
Decide in ADVANCE what you're willing to pay and be sure to include the "buyers premium" (if any) in your calculations. This way you avoid the dread "auction fever".
I don't take my own advice sometimes, but I try...
posted on March 25, 2001 10:20:39 AM
Get to know the auctioning style of the auctioneer. many auctioneers start off ridiculously high and then start dropping their bids in smaller increments. A auctioneer friend of mine told me that they would like to get someone caught up in the item and sometimes will grab it first or second time around. this is usualy someone new to the auctioning process.
posted on March 25, 2001 10:54:57 AM
1. Go early & research the items. Examine them REALLY carefully to note condition, age, damage, and authenticity. Live auctioneers are among the best exaggerators around. And remember, it really is true: CONDITION, CONDITION, CONDITION!
2. Mark down on a piece of paper your per item bidding limit & DO NOT ever bid above it.
3. Do not sit with friends or competitors. This can inhibit your bidding, or cause conversations like, "Why did you bid against so-and-so on that, don't you like him?" I prefer to either sit directly in front of the auctioneer so that they can see my bidding, or lurk toward sides or back, I just don't believe in giving my interest away to others.
4. Look for odd things that do not go with the rest of the auction. EXAMPLE: A local auction will have mostly fine china, furnishings, jewellery, silver, paintings etc., thereby attracting the upper end collector crowd. In the same auction, they might have something like a mixed lot of WWI cloth-backed trench maps, sitting on a shelf in a bag. You bid on those, they go cheap as they are simply not what others at the auction were there for, and you clean up on eBay (yes, this was one of my many coups over the past couple of years.)
5. Don't fall into the trap of seeing someone you know & letting them see your list of things you are interested in.
6. Remember that auctioneers get tired & bored, as do bidders, and there are often some pretty nice bargains in the last 1/4 of the auction. Prices often tend to be pretty high in the first 100 or so items.
7. Horrid weather situations can work in your favor, more people will not attend!
8. REALLY LOOK at those box lots & mixed items stuck inside a bag (postcards, photos, old sack of estate jewellery, etc.) -- you just never know what gems you might find that someone is overlooking, or what rare paper item is stuck inside the pages of the 14th book down in the box, etc., or that signed designer bracelet mixed in with the junk!
9. Don't get frustrated if you go home empty-handed. It is better not to buy than to spend foolishly.
posted on March 25, 2001 12:07:58 PM
Watch the people who work for the auctioneer. If they seem to be doing a lot of bidding, do not bid.
We have an auctioneer in our area who has 3 dealers working for him. There are no bargains at his auctions and most of the good stuff is already in their trucks.
These same dealers bid up the items at his auctions.
posted on March 25, 2001 12:29:50 PM
I would add one thing to upriver's excellent suggestions. Very often the first thing sold at an auction will go cheaply so be ready for it!
[ edited by iowaantiques on Mar 25, 2001 12:32 PM ]
posted on March 25, 2001 01:21:59 PM
Take a small magnet for helping ID metals, a magnifying glass for those pesky marks on silver, a measuring tape, and a couple of granola bars.
Don't make a big deal out of anything you find ... asking the nice-looking lady next to you at the preview is the thinks the mark on the glass says "Heisey" or "Hershey" is not a good idea, not is shrieking "IT'S SIGNED!" across the room to a friend.
On the other hand, if you notice that someone is bird-dogging you at different auctions, and bidding on what you bid on because they know you have a good eye, faking some furtive enthusiasm over box lots with nothing good in them is a way to get revenge. Carefully note the auction number, revisit it a few times, fondling the trashy pieces, make a few more notes. Do this enough times and they will decide you know NOTHING.
posted on March 25, 2001 01:48:35 PM
A more exciting and dangerous way to deal with a buyer that is bird-dogging you is to "run" them. That is, increase the bids on items that you have no intention of winning at that price and make your bird-dogger overpay. It takes fine judgement to know when to quit so you don't buy something you don't want. If this seems unethical wait until somebody tries to run YOU, you'll think differently!
If you check bid histories on eBay you'll see bird-dogging and bid running there, too.
posted on March 25, 2001 04:08:30 PM
Don't hang around acquaintances who want to talk & visit with you during the auction. They will distract you and you will inevitibly miss a good purchase because of them.
posted on March 25, 2001 04:15:39 PM
If possible, stand against a side wall, behind the first two rows of seats. You will have a better view of the auctioneer and people biddng against you. Bounced bids against the wall is common in my area.
Bounced bids - auctioneer is pretending somebody else is bidding, if your sitting in front, you don't see if somebody is actually bidding in the back of you. once you become a regular at an auction house, you will remember the number the auctioneer uses when he gets caught with his pants down.
posted on March 25, 2001 04:29:52 PM
Be patient! It's hard for me to be patient at a live auction because almost invariably the item(s) I want are toward the end of the sale. I really believe the auctioneers plan it based on phone calls they get about this item or that, because they are advertised and people do call for more information on items of particular interest.
I think they often put interesting items nearer the end so people will hang around. It can work in your favor though if you have staying power. Like someone above mentioned, often towards the last couple of hours, the bidders begin to thin out, start to lose interest, etc.
The last one I went to a couple of weeks ago, they had several items that I wanted that went late in the afternoon and I got excellent prices on them. I got one item for $30 that I was prepared to go $90 to $100 for, so I was well pleased.
posted on March 25, 2001 04:35:47 PM
Yeah, [b]napcruz[p/b] is right -- watch those auctioneers. AND their helpers. Some auctioneers are great, but I haven't seen one in a while now, not since I've been in this part of the country anyway.
If you're over against the wall you can see if there really is someone bidding against you.
The last time I went to an auction, the auctioneer paced up and down in front of the audience looking at the floor and calling bids! (So I guess they bounce 'em off the floor too!)
BUT -- it's still great fun.
If you've got the stamina, stay til the bitter end. That's where the real bargains are. There'll be only a handful of people left and you can get whole tables full of stuff sometimes.
Take newspaper and boxes with you, just in case they don't have any for you to use.
posted on March 25, 2001 04:54:14 PM
Wow! Great thread for AUCTION BUYING 101.
How 'bout the consigners?
Guys come up next to you while you're fondling a piece, and says: What a great item? It's got to be worth such and such.. He will bid it up and quit at the right time, and you would not know unless you're a regular that it's his stuff.
And yes eat the underdone/overdone hotdogs, burnt taters, greasy fries and drink the flat sodas and stale coffee. YOu will leave earlier and the rest of the junk is all mine.....
posted on March 25, 2001 05:00:03 PM
The only thing that I have to add is that watch the items and what seems to be attracting attention.
Around here, we have lots of estate auctions that only draw collectors interest on big items. If the crowd is low, and the bidding hasn't really gotten off the ground, auctioneers will start to throw more and more into the lots. (I got over 400 books for $1 that way - he started them as individual boxes....I held off bidding even though my son kept poking me - then bid $1 when he said all of them together! I'm still listing them and have made very good money on all of them!)
I also have a tendency to open a lot of things at a dollar cuz I get tired of waiting. I've gotten several box lots this way - many I didn't intend on bidding on - with hidden treasures once I actually went through the boxes.
posted on March 25, 2001 05:03:59 PM
And another tip is to watch out for reproductions. Many auctions are salted with repros that that were made the month before.
Some auctioneers have no problem taking $300.00 from the little old lady who thought she was bidding on a old piece of Roseville, which turned out to be a new reproduction that the auctioneer bought by the case a month before.
posted on March 25, 2001 05:27:13 PM
If you see something in a box lot you like, keep an eye on it.
People tend to go through things and switch boxes on ya.
(How rude!!)
posted on March 25, 2001 05:27:22 PM
Stand in the back!
That way you can see everything going on and it is also intimidating to other bidders when they can't see who is bidding against them. 9 out of 10 will not turn around to look. If someone does look, show no expression and do not break the stare. Let them flinch first. This has worked wonders at many of the auctions I have attended.
If a certain person is bidding against you everytime, it is probably a shill. Bid up to a certain amount and then let them win (hopefully at a somewhat low price). That way if it is a choice you can then decide to get the remaining items at a great savings.
I have done this with a group of comic books. I noticed a woman who obviously was a plant bidding up the sets. I let her win the bid at $3, then swooped in and took the rest of the sets for $3 apiece. Saved a ton of money.
posted on March 25, 2001 06:45:02 PM
I agree - absolutely stand in the back. You need to be able to see who is bidding against you. Develop a poker face so that if anyone does figure out who you are they have no clue as to when you are likely to quit bidding. Most of the bidders I bid against in auctions around here are old hands - perfect poker faces and bid with a very slight nod of the head to make it more difficult to spot them in the crowd once the auctioneer has located them as a bidder. If they do figure out you are their competition don't let them intimidate you if they try to stare you down. They are looking for "tells" - signs that you are ready to quit bidding. Keep the poker face and make them figure it out. If you hit your limit let the item go. It wasn't meant to be.
posted on March 25, 2001 06:51:48 PM
I disagree about standing in the back, as I always try to get a seat as close to the front as possible. It doesn't seem to matter how early you get there, or how many times you go through e-v-e-r-y-t-h-i-n-g, the auctioneer will bring up items you swore you never saw before. If you're sitting in the front, you've got a bird's-eye view of what's being offered. I've even hopped up from my seat to take a quick look at the item as it was being brought up, just to reassure myself it's what I thought I was. And, if you've got an amount figured in your head as to how much you'll pay, you don't need to stare down the other bidder--just bid your max and chuckle to yourself if the bidding goes higher, because YOU did your research ahead of time and you know that bidder somewhere behind you paid too much.
posted on March 25, 2001 06:52:24 PM
Standing or sitting in the back has the disadvantage of being further from some merchandise. In front you'll know exactly which box of books, flat of jewlery or flat of silverware etc. is being offered. This is more of a problem at the end of an auction when lots are combined.
posted on March 25, 2001 07:30:15 PM
Perhaps we should be clear about where to stand and why. If you are buying small items then you absolutely need to be up where you can see what is going on and exactly what is being auctioned off. On the other hand, the type merchandise I handle does not require you to be up so close so standing further back gives you the advantage of watching the field, so to speak, and gives you a good view of the merchandise.
posted on March 25, 2001 07:34:16 PM
I agree about the reproductions. Beware!
My mom bought a Roseville ewer once that we thought she got a very good deal on but it was fake. We learned quickly that certain auction houses bring this stuff in to fill out the stock, make it look more interesting.
Watch out for fake Roseville pottery, fake "antique" fruit jars, and fake Depression glass. This auction house near to me brings in fake Depression glass that even I can spot from across the room and I'm not a glass person. Yet people bid on that crap. The quality of it was pathetic.
I asked the auctioneer about his "glassware" and he gave me a BS line about how people from "all over" consign with him. Right! He orders that crap and has it shipped in UPS to sell to unsuspecting buyers.
posted on March 25, 2001 07:34:56 PM
Joyce -
Yes sitting in front is good if you need to see everything that is being offered. But this also leads to impulse buys, something I do not try to get involved with. Sitting in the back helps prevents this and I also then get to see the joy bidders who have "itchy" bidding fingers and like to bid on almost everything and see how they bid so that when something I do want comes up, I know when they will peter out of the bidding. Going to auctions is a contest, and any advantage I can use, I will. Also by sitting in the back, the joy bidders have no idea who is bidding, and it can be fun to raise prices on them when you know they will bid on just about anything.
Iowa -
Good point about the end of auctions and items getting combined. At this point I will move forward, but still try to be behind most of the pack.
posted on March 25, 2001 08:59:19 PM
Greetings Earthlings,
I go to about 3 to 5 auctions each WEEK, a little less in the summer as there are other places to buy more effectively. Been doing this for years, Though I'll stop short of claiming to be an expert of any kind.
As far as sitting front or back, I like the back or any where I can see the whole joint. My experience is that MANY auctioneers take bids from the furniture or have "plants" or friends run you up. Plus all the other good reasons that have been given to stand in the back. Many times there are tables of merch behind the auctioneer and I might tend to stand right next to him/her and bid by saying "yea" while I look out over the audience. This can be intimidating to some bidders not to mention they may get the impression that I am freindly with the auctioneer and drop out cause it seems like their being pounded (run up).
As far as sitting close so you can see items that you hadn't noticed earlier, My general rule is that if you haven't examined it earlier, and know that it is "right" (an authentic piece in good shape that isn't missing parts, etc.) then you don't want to bid anyway. Yes you'll miss some bargains but you'll also save a lot of money. I made this rule for myself after about the hundredth time I said to myself "damnit, I'll never buy something I haven't checked out again...."
Everything mentioned about fakes, dishonest auctioneers, etc. is right on. Amen to whomever said that socializing is a sure way to miss the item that you've had your eye on. An extension of that is that many auctioneers pull items from different places and switch lots at moments notice. The item you've been waiting hours for is sure to come up when go to the bathroom or take something to your car.
Some auctioneers or runners will pull an item if you ask and some won't. Be very polite if you choose to ask, and quiet too.You really don't want to let other bidders know that their pulling something for you or your guranteed to pay more for it. I only do this if I have to go.
I can think of tons more, but last for now is, I have found that if you go to lots of auctions, its a very good idea to get to know the auctioneers and runners, I have become friends with many of them and I get treated pretty well. I rarely get run up by the auctioneers any more and the runners pull items for me all the time, and know to be discreet for me. Its also amazing to see how many auctioneers are in the audience buying for their own auctions. Get to know the regular attendees also, many of them now stay off items I like and vica versa, If there's something a few of us like, we can sometimes come to an equitable solution so we each get a little without running each other up. Sometimes they'll bid on stuff for you if you have to leave or if you want to remain anonymous on an item (so you don't get you ebay ID nailed by others who will watch what you buy and dog you).
I could go on, but thats enough for now!
NOT edited 'cause I don't care. and NOT long_gone on ebay!
posted on March 25, 2001 10:34:03 PM
I like going to the live estate auctions that are conducted on-site. There are two family owned auction companies whom I trust and I go to all of their estate auctions faithfully. They put up a preview of the estates on their web sites so I know what to expect, whether the auction is a big farm with numerous out buildings or a modest home crowded with ninety years of possessions.
What I do is specialize in what I sell on eBay. I rarely get my specialty at estate auctions. However I can pick up stuff by the box load for cheap, sort through it when I get home, consign some of it to the auction gallery, like the ones the rest of you go to, keep some stuff for myself and donate the rest to Goodwill for even more of you eBayers to buy and sell eventually. When I get the check from the auction gallery, there is always a nice amount that paid for all of my costs, allowed me to keep a few treasures, like nice crystal or vintage linen, and still make a tidy profit.
Sometimes I sell a few of the things on eBay. For example, a few weeks ago I went to an estate auction where there was a lot of old paper. Nobody was bidding on it so I got a lot of old photos, postcards, stamps and oddball things for cheap. I bid on these items because I was curious, wanted to look at the photos and papers more closely. The man was retired from an active military life and the heirs did not want any photos or old paper. When I got home I spent a lot of hours looking at through the papers, found it to be fascinating. Then I sorted everything, put together three eBay auctions, one of photos of this special recon plane in WWII, another with an evacuation of some region in China in 1945 and another of some Harry Truman signed document. I didn't put the auctions up for much, started at $20 each, but have already covered my costs on everything. I have three boxes of old paper left to consign to the auction house next week and that is where my real profit will be, letting the eBay dealers bid on it. And they will make a profit too I'm sure. However they will have the work and I won't.
posted on March 25, 2001 11:11:55 PMResearch, Research Research!!
With all the eBayers out there, they ALWAYS seem to think that the POC (piece of crap) up for bid will go for a LOT higher than it really does!!! I have seen people show up with a PRINTED eBay auction page in their hand, and bid that price on an item that is OBVIOUSLY inferior...Marx train eBaying for $150 going for $600+.."Limited Edition" pocket knives (in a set) going for TWICE the eBay purchase price..make sure you know the item before you bid!!
And as a request..PLEASE don't be one of those a$$holes on the cel phone to home!! "Honey, what is XXX going for completed?" ARRGGGHHHHHHH!!!!!
Keith
I assume full responsibility for my actions, except
the ones that are someone else's fault.
