While there may be slight variations in the theme, most antique auction houses provide standard services and have standard requirements. If you have never been to an antique auction before, you are in for a real treat. 

The Preview
Every auction has a preview, a period where you can inspect the antiques being offered. The purpose of a preview is to allow you time to handle the merchandise and to look at each antique’s condition to see if the piece has any imperfections, repairs or damage.

All Merchandise is Sold “As Is”
Part of the purpose of a preview is to help you discern any defects in the merchandise. If you miss a defect during the preview and you have the high bid, you still own the antique. The antique house is under no obligation to tell you every defect in a given piece. In fact, the auctioneer may not always notice all of the problems with the items being auctioned.

Keep in mind that some auctioneers are more honest than others. For example, the auction house may list a piece of furniture as being made in France during the Art Nouveau period, when, in fact, the piece was made in the United States during the Art Deco period. This can be due to an honest mistake, a lack of knowledge or a “fudge factor.” In other words, when dealing with auctions, your knowledge of what you are buying is your best friend.

Buyer’s Premium
How do auction houses make money? They charge both the buyer and the seller a percentage on the sale. The buyer’s premium is the amount of money that you will have to pay to the house in addition to your winning bid. Make sure that you know what this percentage is before you start to bid. This will help you calculate your maximum bid. For example, if the buyer’s premium is 15 percent and your high bid is $200, you will be spending $230 at the cashier, plus any applicable taxes.

Bidding Card
You will have to get a bidding card in order to participate in an auction. In order to get a bidding card, you will be asked to provide your name, address and phone number at the minimum. If you have a resale number, provide it to the house at this time so that you don’t have to pay taxes on any antiques that you win.

Some auction houses require a deposit in order to participate. This deposit will be refunded to you when you leave in the event that you don’t win anything. If you do win some antiques, the deposit will be applied to your total bill.