The ultimate guide to bidding at auction

The auction industry is moving with the times, offering new ways to participate in sales. We take a look at this evolving world and offer expert tips for successful bidding

Auctions are a fantastic way to snap up a bargain and experience the excitement of the gavel coming down on your winning bid. But no matter how many episodes of Bargain Hunt you’ve watched, the fast pace of a real-life saleroom can be an intimidating experience for the uninitiated.

The huge growth in online services – boosted during the pandemic – means that most people don’t attend auctions in person anymore, which may be disappointing for those who love the cut and thrust of the saleroom. But there’s still a thrill to be had in bidding in real time online while the auction is live, competing with rival bidders anywhere in the country, or even the world. It’s also a lot less intimidating to bid from home.

If you’re new to bidding at auction, here are our top tips for success.

View the lots

Unless operating exclusively online, most auction houses offer a pre-sale viewing, so you can examine items for maker’s marks, imperfections or take measurements. Although bids can be placed remotely, if you’re local to the auction house it’s always a good idea to go to the viewing. ‘There’s no substitute for examining items in the flesh before bidding,’ advises Guy Schooling of Sworders auction house. ‘You can also ask auction-room staff questions; reputable firms will offer genuine advice.’

Examine pieces carefully, request condition reports and always ask questions about lots you are interested in. If a piece is misdescribed or damage has not been accurately detailed, consumer legislation allows you to return the piece. But if there has been an opportunity to view and you have simply changed your mind, there’s no redress – so do your research.

Be open-minded

So what should you look for at auction? From mid-century furniture to art deco lighting or movie memorabilia, there are auctions out there catering for specific categories and eras, as well as more general auctions, so whether you have a wishlist of pieces for a specific project or collection, or are an opportunistic browser waiting for something to catch your eye, auctions offer rich potential. The key thing is to keep an open mind and get inspired by what’s on offer on the day.

Experienced buyer Hannah Verrall has used auctions to furnish the bell tents on her glamping site, Warren Farm, in Pembrokeshire, and says the habit runs in her family. ‘Three generations of my family used to go to the auction every month: my grandparents, my mum and me,’ she says. ‘Mainly we saw it as a day out combined with a treasure hunt – we never knew what we might come home with!’

Check extra charges and security

Before bidding, check how much you might have to pay in additional charges, including the buyer’s premium (a commission charged to buyers by the auction house), VAT and shipping costs. And with online platforms, always check to see how your money is protected, with funds only released from a buyer to a vendor once the purchase has been received.

Consider your price limit

Perhaps the biggest risk of buying at auction is getting caught up in the moment and bidding too much, and this can happen just as easily in the saleroom as online. ‘Don’t get too hung up on pre-sale estimates – think about what that piece is worth to you,’ says Guy. ‘But equally, don’t get too carried away – fix your spending limit then add one or two more bids. Sometimes just one extra bid is all you need to secure a prize piece.’

Many people fear they might accidentally bid by moving their hand at the wrong moment, but Hannah is reassuring. ‘I’ve never accidentally bought something by scratching my nose! The auctioneers are used to people having different styles of bidding: they’ll only start taking smaller movements as bids once they know you. So start simple with just a flash of your paddle number.’

If you’re nervous, simply leave a commission bid, which is when you give the auctioneer a list of the lots you want to bid on and a maximum price for each lot. ‘You can either stay to watch the bidding, or leave and find out later what you’ve won and what slipped through your fingers that day,’ says Hannah. ‘If you really want to take the stress out of things, buy remotely – but still always try to view in person. And don’t worry that you’ll end up paying full whack: the auctioneer will only go to your bid after the last other person’s highest bid.’

Bidding online

If you’re concerned about getting carried away and bidding too much in a live auction, many online auctions now operate on a timed model, similar to eBay. This allows bidders more time to reflect on lots and their bids. And as eBay has now evolved into more of a marketplace in recent years, genuine online auctions have become increasingly popular. ‘We pride ourselves on delivering exceptional customer service,’ says Robin Gray, managing director of online auction platform William George. ‘Plus, we have accessible humans on hand should anyone need any help!’

If you’re concerned about ‘sniping’ – where a last-second bidder can grab the prize before you have a chance to bid again – then look for auction platforms that offer preventative measures. ‘You won’t fall foul of sniping with our auctions,’ says Robin. ‘If someone bids on a lot when there are 10 minutes or less remaining on the clock, it will reset to 10 minutes again to give you another chance to bid if you wish. My tips for getting a bargain are to look out for “no reserve” auctions and always check how many competing bidders there are. Before you bid, check what similar items have previously fetched at auction so you can set a budget you’re happy with.’

WORDS: LINDSEY HARRAD