auction house experience

[Ian]

Alan:

Thanks for your comments. I have had similar experiences. Many successful bidders at arms and armor auctions are wealthy (at least they spend a lot more than I can afford), and there seem to be many more people these days with large amounts of cash to spend with gay abandon. With online bidding for live auctions at many of the larger auction houses, it's often not the person in the room who is one's main competitor--and who knows who they are and where they may be bidding from.

What would you like to see in place of the large auction houses, Alan?

Ian.

Originally Posted by A. G. Maisey

Auction purchase is fine, if you know what you're looking at and can handle it.

Purchase from selective photographs and descriptions written by people who do not know what they're looking at is never OK.

A couple of months ago, for the first time in about 20 years, I attended an auction of arms in Sydney. Many of the items offered I had sold to the previous owner of the goods on auction, and I did have a very good understanding of the nature, quality and market value of these items.

The prices realised were so high that they simply surpassed my understanding, most especially so when the 20% or 25% auctioneer's premium was added.

Many of these items were sold to buyers in other parts of Australia, and overseas, so those buyers were also hit with packing costs on top of the shipping.

I am coming to the opinion that traditional auctions have gone past their "use by date".

[A. G. Maisey]

I've never given much thought to it Ian.

Going back far into the past I used to buy at auction frequently. No buyers premium, auctioneers charged 10% of the hammer price, no GST (VAT). These days its a totally different ball game.

As you say there are telephone bidders and they bid from all over. At the auction I attended they had I don't know how many people up front taking calls and doing all sorts of funny things. Not like the old days when it was an auctioneer and a penciller.

Used to be simple, now its complex and the commissions and premiums pay for the complexity.

Replace this circus with what?

I don't know.

ebay and other similar sites seem to work OK for some people.