We’ve all watched Bargain Hunt: contestants happily rummaging through antiques fairs and flea markets in search of a hidden gem, only to watch it flop at auction and sell for about £3.
Buying at fairs to sell at auction doesn't always look like the most lucrative game. You could, of course, turn the whole thing on its head and buy at auction to sell at brocantes and flea markets – but that probably wouldn’t make quite as good television.
What’s the fun in watching someone do well?
In reality, auctions can be some of the best places to find distinctive antiques, vintage furniture and original works of art at competitive prices.
But for first-time buyers, the quick pace, unfamiliar terminology and flurry of raised bidding paddles can make the whole experience feel a little intimidating.
Gabrielle Downie, associate at Cheffins, says auctions are far more accessible than many people imagine. From doing your homework on the catalogue to setting a firm spending limit, a little preparation can help beginners bid with confidence and uncover pieces they would never find elsewhere.
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Don’t be intimidated
“The first tip I would give anyone coming to an auction for the first time is: don’t be intimidated,” Gabrielle says. “Auctions are for everyone, and we like to encourage as many people as possible to come down to the sale.”
Many newcomers assume auction rooms are filled exclusively with valuable oil paintings, serious collectors and experienced dealers. In reality, auctions can offer items at a broad range of prices. At Cheffins’ monthly interiors auctions, for example, buyers can find rugs, wardrobes, chests of drawers, farmhouse tables, console tables, sofas, porcelain, silver and paintings. Although some lots may sell for up to £1,000, many are purchased for considerably less.
These regular sales sit alongside higher-value specialist auctions and can provide an ideal entry point for anyone who has never attended a sale before.
You won’t bid by accident
A common fear among first-time visitors is that an innocent gesture could be mistaken for a bid. However, Gabrielle says there is no need to sit completely still. Auctioneers are trained to look for clear bids and bidding numbers, rather than everyday movements such as scratching your nose or adjusting your glasses.
Experienced buyers may sometimes use gestures that appear almost imperceptible, but auctioneers become familiar with regular bidders and their individual styles.
Study the catalogue before the sale
Auction catalogues will usually be published online around two weeks before a sale, giving potential buyers time to browse the available lots and identify anything of interest. Then auction houses will also normally hold viewing days, allowing buyers to inspect items in person before bidding.
While catalogues often include several photographs and condition reports, seeing an object in real life can reveal details that are difficult to capture on camera. The colour and patina of a painting or piece of furniture, for instance, may appear very different in person.
"Often on viewing days buyers come across an item which they had overlooked in the catalogue," says Gabrielle.
Measure everything carefully
Anyone planning to bid on furniture should measure both the intended space and the route into the property. That means checking doorways, hallways and staircases, as well as the room in which the item will eventually sit.
Once the auctioneer’s hammer comes down, the successful bidder has entered into a contract to buy the item. Gabrielle therefore recommends carrying out all necessary checks well in advance. “Measure, and then measure again, to be completely sure,” she says.
Arrive early and be prepared
On the day of the sale, buyers should aim to arrive at least half an hour before their chosen lot is due to go under the hammer. New bidders will need time to register and receive a bidding paddle.
Gabrielle advises: "Don’t forget that auctions move fast, often with around 80 lots being sold per hour, so leave plenty of time to get organised before your chosen lot comes up."
Set a maximum bid
"The adrenaline really kicks in when your chosen item goes under the hammer and we do find that first timers can often get carried away in the saleroom!" says Gabrielle. So set yourself an absolute maximum for each lot before the sale begins and stick to it.
She also urges people to remember that the hammer price is not necessarily the final amount a buyer will pay. Auction houses charge a buyer’s premium, with VAT added where applicable. Together, these additional costs can often add around 30% to the hammer price.
Buyers should include these charges when calculating their maximum bid. Spending £1,000 at the hammer, for example, could result in a final bill of approximately £1,300, depending on the auction house’s terms.
Enjoy the experience
Auctions should also be enjoyable. They offer the opportunity to discover unusual pieces, learn more about art and antiques, and find objects that could never be found on the high street.
Many auction houses have a café or provide tea and coffee, making it possible to turn a viewing or sale into a day out.
Cheffins’ Art and Design sales often attract younger buyers seeking one special painting or piece of furniture to complete a room. "Mid-century chairs and sideboards are currently popular, along with vintage pieces by Liberty and Heal’s, and 20th-century paintings and prints," says Gabrielle.
Explore different ways to bid
Being in the saleroom may provide the most exciting experience, but buyers do not always need to attend in person.
Most auction houses offer online bidding, telephone bidding and commission bids. Anyone planning to bid online should create an account and complete the registration process well before the sale begins.
A commission bid allows a buyer to tell the auction house the maximum amount they are prepared to spend on a lot. The bid is recorded and managed by the auctioneer during the sale.
The auctioneer will bid on the buyer’s behalf only as much as is necessary, up to the stated limit. Gabrielle recommends leaving the true maximum budget, as losing an item by a small amount can be particularly disappointing.
Arrange payment and collection
Once a bid has been successful, payment and collection are generally straightforward.
Most auction houses accept card payments or payments over the telephone. Staff may also be able to recommend or arrange transport, meaning buyers do not necessarily need to hire a van on the day.
"We usually allow people around a week or so to collect the items they have bought if they can’t take them home with them on the day," says Gabrielle. Be sure to always check collection arrangements and deadlines in advance.
Daisy Bendall is the Houses Editor at Country Living and House Beautiful, where she spends her days sourcing some of the most inspiring homes across the country. Prior to specialising in real homes, Daisy worked for Good Housekeeping, Red, Elle Decoration and Prima, styling shoots, covering the latest decorating trends and hunting down the best buys for your home.
