Auction previews take place at a designated time before an auction starts at an auction house. Depending on the auction, a preview can start a couple of hours before the auction begins or over a longer period of time. The purposes of auction previews are for you to inspect the merchandise, make decisions about which items you will bid on and set a maximum that you will spend before the auction starts.
Getting the Most Out of Auction Previews
Doing your best at an auction preview starts before you arrive. If you located the auction online, there should be a description of the antiques being offered. Fliers or newspaper ads should have similar information. This is the time to do some investigating about the antiques that you might like. Look up information online or in any reference books that you have to get background on those antiques that you are eyeing.
Take a notepad and a pencil or pen with you to the auction, just in case you aren't able to get an auction brochure. You will want to jot notes about your favorites. You might also want to bring those reference books along with you. You can always go out to car to search for more information after you have looked at your antiques if you don't want to bring the books inside. If your laptop is wireless, you may also be able to get some last minute price comparisons from online auctions.
Take your time during a preview. Inspect any antique that interests you. Ask to look at jewelry or expensive art glass that is being held in glass cases. Since sales at auctions are "as is," you won't be able to return merchandise you bought if you miss a ding or a crack.
Take a special look at boxed lots. Box lots are a combination of several items all sold together for one price. Sometimes box lots include hidden gems.
As you find antiques that you would like to have, note the lot number and a short description of the item on your notepad. Then, include a number for your maximum bid, keeping in mind the buyer's premium that you will have to pay the house. A buyer's premium is an additional percentage on top of your winning bid that the house charges as fees.
Keeping notes on the antiques that you would like to buy and having a maximum bid in mind before the auction starts will help you control your bidding impulses. Sometimes you just want to bid a little more, but really shouldn't. While part of the fun of an action is "bidding mania," it's sometimes better to let someone else who is less informed than you have that piece rather than spending too much money.
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