I have a distribution list to several friends and colleagues that alerts them whenever there’s a good auction nearby. Just goes to show you how clueless I can be – some of them have never been to an auction and didn’t know what happened there. I promised them they’d never buy any overpriced junk in a department store again, and then I showed them the ropes, summarized below:
- auctions are usually advertised. Our own newspaper in town has completely screwed up the auction listings, but they used to have a very nice section in each Friday paper with the date, time, a general description of the things for sale (particularly the good stuff), and the name and policies of the auctioneer. A good online site for locating auctions is www.auctionzip.com – you put in your zip code and they tell you what auctions are available on any given day within a particular radius of your home. Not all auctioneers advertise in AuctionZip, however, so see if your local newspaper is still making sense.
- auctioneers must charge sales tax, but often charge a “bidder’s fee” as well – this is a very common fee, tacked on to the cost of winning auctions, and it is sometimes excessive. (You don’t pay a bidder’s fee just to bid – only if you are the winning bidder). Pay attention to this – some auctioneers do not charge bidder’s fees, and I try to attend their auctions to support them. I refuse to attend any auction where the bidder’s fee is over 10% (I’ve seen it as high as 25%), although if you’re a hard-core collector, you do what you need to do.
- there is usually an opportunity to look over the merchandise before the auction starts. For regular auctions, this is usually scheduled an hour or two before the auction opens, but for real estate and high value items, it may be a different day. (Depends on the auctioneer and what’s being sold.) Go to this if at all possible. Dig around in boxes and under tables and look items of interest over very carefully. Auctions are usually “caveat emptor” – buyer beware – although the best auctioneers will mention damage while they’re calling bids. Items are for sale as is and where is, so this inspection is very important.
- consignment auctions consist of items from several people – these might be auctioned at a fire hall or other community space, or at a private auction house. Estate auctions sell the estates of individuals, and are often held on the property of that person (although these items might be moved to a community venue or auction house, too).
- once the auction starts, you need a bidder’s card to participate, so get one early while you’re still inspecting. This generally involves handing over your driver’s license temporarily to an auction employee sitting in front of either a computer or a log book, who will record your contact information, and then give you a card – about 10″ x 4″ in size – that has a large number, the auction rules, and sometimes a space for taking notes on it. That’s the bidder’s card, and it’s a contract. Don’t lose it. Don’t put it down anywhere while you get goodies at the lunch counter or visit the restroom. You’re responsible for payment on anything successfully bid with that number.
- the auctioneer will go over the rules at the start of an auction, usually very, very fast. (The regulars in the audience don’t even listen – this is pretty standard. ) Then they start calling bids on individual items or “tray/box lots” of items at a time. Each auctioneer will call bids differently. If you’re new, listen until you get the cadence of the bid call. (Each auctioneer is different – some of them are intelligible to anyone, others move very fast indeed and their sing-song is barely understandable.)
- to bid on an item while the auctioneer is calling bids, raise your card so the auctioneer can see it. If you don’t think the auctioneer sees you, it is usually appropriate to call out “here” or his/her name to get attention. The runners who are holding up the merchandise will help direct the auctioneer’s attention to bidders, but they are busy and can miss people. I personally like to sit either in the front row (although that’s often reserved for dealers and thus unavailable) or on the center aisle. I often stand to one side or in the back, too. Auctions move fast – if you aren’t ready to plunge in, don’t. Just watch until you’re ready.
- you can check out when you’re done buying (you don’t have to wait until everything is sold). Take your bidder’s card to the same desk where you got it, and pay for your purchases. Most auction houses accept credit cards – some don’t! Find out about this ahead of time. Even auction houses that accept credit cards in general may be unable to do so at particular venues – I was at an estate sale, for example, where I had to pay cash, even though the auction house accepts credit cards most of the time.
- What if you buy a box lot and don’t want some of the items in it? Or you can’t move a piece of furniture right away? Be careful here! Some auctioneers will have you fined if you leave any unwanted items behind. Others will encourage you to put unwanted goods in a particular location for others to look through. For large items, you can sometimes wait a day or so to arrange pickup, but ask first. When in doubt, assume you are responsible for removing every single thing you buy when the auction ends.
–Gail