Buying china figurines at auction, and indeed other antiques and collectibles, can be an exciting and rewarding experience. It can definitely become something of an addiction and the chance of finding something unusual, beautiful and possibly valuable usually compensates for the numb feeling you often experience in the posterior from sitting for too long in one place!
I am, of course, talking here about the many commercial, auction rooms that hold regular sales of antiques and collectibles. In many countries, on most days, you will usually find an auction being held somewhere.
But the ‘traditional’ auction sale is, in my view, a great place to buy and I would like to present here my ’5 Golden Rules For Buying At Auction.’
You can agree or disagree with them and, in my defence, I can only say that they have proved their value to me over the years.
1. Decide Upon Your Budget – What is the maximum amount that you intend to spend on auction day? Write this down and stick to it and when you’ve spent up to your limit, it’s time to go home.
2. Give Yourself Time to View the Items for Sale – Never rush into a sale and start bidding on items that suddenly take your fancy. Always attend the ‘viewing day’ if you can and have a good look at the items that appeal to you. Inspect their overall condition carefully and don’t be afraid to ask questions about a piece. Jot down the lot numbers on a piece of paper of those items that you intend to bid on.
3. Pre-Auction Preparation – At the top of a large sheet of paper, write the maximum figure that you have decided to spend on auction day. Remember to take into account buyer’s commission and other charges that the auctioneer may apply. You don’t have to be too exact here but just a general percentage to give you an idea of when you might reach your spending limit. Rewrite the lot numbers, lowest to highest, of the items you intend to bid on and make a decision about how much you will bid for each item. Take this sheet with you to the auction.
4. Reach the Auction Thirty Minutes Before It Starts. You then have time to find a comfortable place to sit, to check that your items haven’t been withdrawn for any reason and buy a cup of tea or coffee.
5. Make Clear Bids – When you want to bid, raise your hand clearly. Don’t be timid. Just focus on the bidding values and signal your intentions. If prices become too high, a shake of the head from you will indicate to the auctioneer that you are out of the bidding. Remember, you are not in a race or competition. You are aiming to keep cool, buy sensibly and act in a professional, detached manner.
Auctions can be great fun, very profitable and if you follow the procedure above then you should not overspend or pay too much for a single item. And always remember that if you couldn’t manage to buy that china figurine that you really wanted for your collection then there will always be a next time.
Believe me, there will be another auction when you will probably find something even more interesting. So be patient and don’t get disheartened.
About the Author
Frank Lomax is a freelance writer with a specialist interest in antiques especially china figurines.