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Auction dilemma ...thoughts
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Auction dilemma ...thoughts

 
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goonerboy



Joined: 24 Aug 2009
Posts: 965

PostPosted: Tue Jul 16, 2019 11:41 pm 
Post subject: Auction dilemma ...thoughts
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In an upcoming auction i am interested in an item for which i am willing to bid a few hundred pounds although is realistically worth £100ish. But do i put in a commission bid or go through saleroom ?

Going directly to auction house will save 6 or 7 % on final fees but i may pay more because the auctioneer seeing my willingness to pay a few hundred will try desperately hard to get up to my max. On saleroom i could end up paying a lot less so even the extra commission leaves me better off. On the other hand there could be another demented fool like me also willing to push hard and i could win it near my max plus pay more fees.

Any thoughts ?
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martino



Joined: 21 Jun 2011
Posts: 1842
Location: Beautiful downtown Goostrey, Cheshire

PostPosted: Wed Jul 17, 2019 7:28 am 
Post subject: Re: Auction dilemma ...thoughts
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goonerboy wrote:
In an upcoming auction i am interested in an item for which i am willing to bid a few hundred pounds although is realistically worth £100ish. But do i put in a commission bid or go through saleroom ?

Going directly to auction house will save 6 or 7 % on final fees but i may pay more because the auctioneer seeing my willingness to pay a few hundred will try desperately hard to get up to my max. On saleroom i could end up paying a lot less so even the extra commission leaves me better off. On the other hand there could be another demented fool like me also willing to push hard and i could win it near my max plus pay more fees.

Any thoughts ?


Ask the auction house for a telephone bid. If the lot is over £100 they should agree. That will put you in a position of control and you will only
pay their commission. You have no control over what others may bid so fix your maximum price and stick to it.

If you go the telephone bid route then also have the auction running on the Saleroom just in case they forget to phone you; unlikely but it is a good backstop.
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