Site Overlay

How to do business at auctions

First of all you have to search the internet for auction houses that propose the objects that interest you. Then check the scheduling of their appointments.

So choose the lot, in every catalog, paper or online, the good for sale, called lot, can be formed by a single object or a set of pieces. It is indicated by a number, has a description and an estimate, consisting of two values, a minimum and a maximum, which represents the market price established by the experts of the auction house.

Check the goods and that is, before the sale, carefully examine the batches of people, during the days of exposure open to the public, which are held weeks before the auction. Centimeter in hand also controls the measures to avoid any surprises. If you can not go in person, look for the images available online and request an informative report, called “condition report”, on the actual lot conditions issued by the experts of the auction house.

You can participate in the auction hall after registering: registration is free and does not imply an obligation to purchase. Or you can send, at least 24 hours before the auction, an offer written using the appropriate form attached to the catalog or downloaded from the site, in which you indicate the maximum amount net of the commission, which you are willing to spend. Or you can still participate by phone: after you have previously agreed, you will be called by the staff who will bring back the offers going on in the room and make the offers for you.

The advice: set the maximum amount that you are willing to pay so as not to get caught up in the hall.

The lot is sold to the highest bidder. The sale begins with a starting price, the auction base, and proceeds with approximately 10% rebates. The auction house requires the buyer to pay a commission, formed by the auction direct and by the auction. VAT, which is calculated as a percentage of the price and must be added to the final purchase amount: on average it is 30%.

Here you are now ready to do business!

Leave a Reply

Your email address will not be published. Required fields are marked *