Auction Fever!

Greetings again, y'all. Posting today from San Antonio instead of my usual haunts just west of Phoenix. I'm here going through some stuff for a friend and helping her value it. But that will probably be a topic for another time. Today, I want to talk about auctions - specifically how to get the most out of them. Auctions can be intimidating but once you learn a few very basic rules, you can have a lot of fun and find some great deals while you do it.

First, let me dispel the biggest myth about auctions, which also happens to be one of the biggest reasons people find them intimidating - you are not going to accidentally bid on something you don't want. While it might make for a funny moment in a Pink Panther comedy, in the real world, a twitch or a nod or even a wave of the hand isn't going to cause the auctioneer to point at you and shout "Sold!" Any auctioneer worth his buyers' premium knows who is in and who is out. In the unlikely event that the auctioneer does think you're bidding when you are not, you should immediately say something loud and clear, including wild gesticulations if need be. The auctioneer will backtrack to the bid previous to yours and continue from there. You'll get a bidding card with a number when you put down a small deposit. Wave that when you're bidding and there should be no confusion.

While we're on the subject of bidding, I suppose I should mention the phenomenon of "auction fever". Sometimes the competitive juices get flowing, the price is climbing fast, and you really, really, really want that signed First Edition of Godless because it's a key ingredient for a spell you want to cast to ward off evil spirits. Don't go nuts. You should know in advance exactly how much an item you want is worth and how much you are willing to spend on it. This is why you need to go to the auction preview.

Some auctions will let you preview items the day before; some only have a short preview the day of the auction. The preview gives you a chance to to examine items closely for any damage, overall quality and authenticity (yes, there are fakes out there - if you're unsure, don't bid on it! When the bidding starts and the price starts to climb, don't assume that the bidders know that the item is real. And some auction houses employ shills to help drive up prices).

I have found that a web-enabled cell phone is an indispensible tool when you come across something cool but aren't real familiar with. You can quickly find details about the item and get a good idea how much to spend for the item.

Estate auctions generally are divided into three parts - box lots, smalls and furniture. If you're looking for miscellaneous household items, look for auctions that feature box lots. You can find glassware, silverware, tools, books, records, DVDs, CDs, cookware, small appliances, Christmas decorations, and occasionally a treasure that the auctioneer missed. "Smalls" generally include jewelry, glass, china, porcelain, ephemera and the like. I don't do a lot of furniture but I can tell you that furniture tends to attract the most dealers. If you attend one auction regularly, you'll get to recognize the dealers fairly quickly. As a rule of thumb, collectors target their area of interest and dealers bid on everything.

One last thing you need to be aware of is the buyers' premium that most auction houses charge. It can range as high as ten percent so make sure you calculate that into your budget.

In case you can't tell, I love auctions! But of course, YMMV. They can be long and there can be stretches of items that you could care less about. But they can also be very exciting as you do battle for the items of your dreams and you can walk away with great deals if you are careful and do your research.

So what's your deal this week?