All about Antique : Antique Auction

An antique auction, online or in person an opportunity to offer an item for bid or buy an item through competition. It is particularly popular for antiques and collectibles with a value of a piece can vary dramatically based on popularity. That's why so many important antique sales are made through auctions rather than the old stores.

The seller can auction items directly or deliver them in an auction house. The auction house provides more services, including pricing; Advertising or marketing, including a list; And management of actual bids, payment processing and delivery; And it has an existing reputation and body of the contestants. However, these services cost more than the immediate auction, by charging premiums to sellers and buyers. Online auctions like eBay auctions provide the platform and body of bidders, and thus charge lower premiums, but the seller is still responsible for handing the transaction, so they are at risk for fraudulent buyer, and not the protection of professional valuation.Premiums

Vendor premiums, the amount the seller pays to have an item at auction, usually ranging from a minimum amount and are set at a fixed percentage of final price. Usually, the higher the price point down, the lower the premium percent. Buyer premium is also a percentage of final price.Reserves
Since the candidates the price they are willing to pay may be considerably less than the price that a seller would accept, sellers set a reserve, a minimum final price. If the highest bid takes the item is equal to or greater than the reserve, the item does not sell. The seller usually pays even the auction house or online auction platform for some kind of fee.Previews
In those auctions tend preview periods during which potential candidates are able to verify the facts and ask the auction house of representatives a few questions. These are usually held during the two or three days before an auction. Data are rarely available for hands-on inspection at the auction. Presents previews are free and does not obligate you to bid.Bidding Process
Bidding requires registration and in some cases, usually for very high-end auctions, proof of ability to pay, such as a certified check or bank statement. Contrary to the wisdom of the film, you can not accidentally bid on a live auction of beckoning or flashing; We usually put a paddle with a special identification number you.Types of AuctionsEnglish Auction
The most common kind of old auction is the English auction, at which point starts at a price usually lower than the estimated final price, and the auctioneer (or software) increases the price at set intervals. Candidates indicate their willingness to pay any further price until no higher bids and the last bidder is the winner. This bidding process is transparent; Each participant knows what the latest bid.Silent Auction
In this type of auction, each candidate must submit a single bid without knowing how many other candidates offer. The highest bid wins. Here, candidates must make very intelligent estimates of how much others are willing to pay and offer just enough more than that amount to win, but not so much to overpay for something that could have won more cheaply .Dutch auction
This auction is the reverse of the English auction. Bidding starts at a price well above the estimated value and the auctioneer lowers the supply of selected increments. The first person to accept the offered bid wins the item. As silent auction that requires the applicant to provide other value will offer to make an offer shortly before that time.Traps Antique Auction and disappointments
There are several potential pitfalls, especially for buyers at antique auctions. First, it is very easy to catch the excitement of competition, or be determined not to let another person have the item that you love, and offer more than expected, or even more than the item is worth. The best way to avoid this is to set an amount and stick to it. If necessary, bring along a companion who will keep you within your budget. Please note that the final offer is not the final price, as you must pay the buyer's premium and any sales tax above.
It can be very difficult to make decisions about your budget, if more than one item you would like to buy, since you do not know the true value of one until the bidding is over. If you do not bid on the first track you want to hope to win the second piece, you can walk away with nothing if the second part goes too high for your budget, and this is especially frustrating if the first piece went to bid lower than you would pay