KEY POINTS:
Auctions are nothing to be frightened of.
Two rules are essential: inspect the goods before you bid, and set yourself a price limit based on what you think the object is worth and what you can afford, and stick to that limit.
Most Auckland art auctioneers provide full catalogue descriptions of the works on offer and stand by them. If the description proves to be wrong, you're entitled to your money back. "Buyer beware" is a term that still applies, especially when works are only vaguely described, or terms such as "ascribed to", or "attributed to" are used. But it is also with such lots that true bargains can often be found.
Sticking to your limit is also a good idea, but there will always be times when a work has so taken your fancy (and at least one other buyer's) that discretion can go out the window. A certain stubbornness is only too common in the saleroom, especially when two fanatical collectors lock heads. Take a deep breath, if you feel it's getting too rich.
Some buyers use the ploy of holding up the bidding card continuously, implying that there is no limit to what they will pay. If the price continues to be within your set range, don't be scared off; very often, a big jump in your bid (but still within your limit) will scare them off.
Don't feel you must stop bidding if the price is nowhere near the reserve or estimate; the highest bidder may gain an option on the item, subject to the vendor accepting the price. Often, such deals are negotiated after the sale.
Don't hesitate to speak up if an auctioneer has knocked something down to someone else while you are still bidding. But also don't forget that the auctioneer has the last word.
Don't be afraid to offer less of an advance than the auctioneer is seeking; it doesn't have to be accepted, but most auctioneers will (unless the proposed increase is ludicrous).
Remember your accepted bid will have a buyer's premium (and GST on the premium) added to it; include that in any limits you set.
Above all, buy works that really appeal to you, not as investments but as objects you can enjoy.
Coming up:
Tuesday, February 13: Cordy's, antiques and art.
Thursday, February 15: Webb's, antiques and collectables.
Tuesday, February 20: International Art Centre, collectable art.
Tuesday/Wed/Thurs, February 20-12-22: Webb's, A2 art, jewellery, retro and collectables; Chinese furniture.
Saturday, February 24: Webb's (Penrose), props and set designs from the television series Xena, Warrior Princess.
