Beware of Auction Fever!

The excitement and emotions that overcome us at auctions can also end up costing us more that we planned, (my check book is never happy about that!) I guess that is why so many refer to it as “Auction Fever”.

How exciting to search out the best auction of the week, preview all the photos on line, and plan your budget and strategy once you arrive. 

On the day of the auction, we pack our boxes and newspaper to wrap our treasures.  We also have ample moving blankets, and straps to strap down any furniture we purchase.  Our own chairs are a must; you never know it the auctioneer will furnish anything to sit on.  We many times plan the day; some of the best deals are at the end of the auction.  Once we arrive, we must first, place our chairs in a place where we can see the items for sale, and not be seen by all others attending the auction, sometimes we don’t want others to know we are bidding. We get our bidding numbers, and then start the search for the items we think we would like to purchase.  I always make notes on my bidding card as to item number and condition so when it comes up for auction, I have notes that will Remind me on how much I think I can spend.  That is my strategy to stopping auction fever.  Frequently, I never get to bid! It always surprises me when bidders pay more for an item than it would sell for at the Brick House Antique Center.  As a buyer you must familiar with the buying terms at the auction. Beware of the buyer fees!  Most auctioneers charge a 10% buyer’s premium and if you pay by credit card, you might also be charged a credit card fee of 3-4%!!!  Yes, make sure you are aware of the policies of the auctioneer prior to bidding because once you purchase it, it is yours. 

My recommendation to anyone who is looking for a special item, check out your local Antique Shops prior to bidding at auction.  You will most likely be able to negotiate with the shop to get a lower price.  At the Brick House Antique Center, you will not be charge any additional fees (except NYS sales tax, if you are not tax exempt).  A shopping trip to your favorite antique store can help you become educated on the price of items in your local market.  With that information, you will be a better buyer.

That is all for now, Have a great week!