I'm an auctioneer, AMA!

[Gavelicious]

I'm an auctioneer, is there anything anyone would like to know about the auctioneering world?

I work for several general auctions in a rural area (not the Sotheby's of this world!!)

The picture market, certainly at the lower end of the market is poor at the moment. One of our main buyers who is a picture dealer told me he has paused buying any stock as his business has dropped 75% in the last 18 months. Another is only buying a fraction of what he was and is only buying very good quality when it is cheap to store for the future. But for us at least, the more 'traditional' pictures are still doing ok if they are good quality oils and are well framed. It's the lower end that is particularly poor - prints and unknown / lesser known artists.

In times of financial uncertainty, investors and dealers will often switch from anything that could be affected by fashion to items with an intrinsic value such as silver and gold, which have increased in price significantly of late.

I'm not sure how the upper end of the art market is performing, that's out of my league!

No, that's a very different area!
I only work at general auctions which sell antiques, collectibles, do house clearances etc

I don't have any experience of specialist car auctions, but the auctions I work for occasionally sell cars when they are part of a house / estate clearance and these can be good buys as they are often small cars that have been looked after (possibly lapsed MOT, servicing etc if the owner had been unwell) and low mileage (if owned previously by an elderly person). You can always view the car in advance and ask about history and what paperwork is present. Can you take someone along with you in advance to look at car over for you? You can also look up MOT history online (with the reg no.) which can be helpful.

You can get a bargain but remember there is no comeback if the car has issues.

It's never too late!
It was a career change for me in my late 40s.

That's a common worry but no, that doesn't really happen! I do sometimes tease people a bit in the room though, if they scratch their head or wave at a friend I might joke that they've just bought a wardrobe. We allow dogs in our saleroom and I also joke that I take barks as bids

The main auction I work for is very friendly and welcoming (not all are though!) and the team will explain everything and have even sat with people who are bidding for the first time.

I always encourage people to go along and watch if you are interested as it can be a fun day out! I don't mind people coming along just to watch as the more people in the room the better the atmosphere.

Antiques are over 100 years old.
'Vintage' is a bit woolier and there are different opinions! Most would agree on at least 30 years old, but I have heard people describe things as vintage that are only 20 years old and others who say they should be 50!

Personally I think it depends on the history and longevity of a particular item or category. For example I would describe 1980s/90s computer games as vintage as the systems have been updated many times and it is a fast paced area where things change very quickly, but I wouldn't really describe 1990s furniture or jewellery as vintage!

'Mid-century' and 'retro' are used a lot too!

Yes, buyers and sellers both pay commission but these can vary hugely. Some auction houses will also have additional charges, so make sure you check out all the T&Cs!

Additional charges on top of commission for sellers can include - lotting fees, photography, insurance, storage and fees if items don't sell (particularly if the seller asked for a high reserve)

For buyers they can include storage charges if items aren't collected within a specified timescale. Also check costs in advance if you need items shipped, these can be high and some auctions don't offer shipping so you would need to arrange this yourself if you can't collect.

Auctioneers can make bids up to a reserve, that is normal practice and ok (and should be explained in their T&Cs) for example, if the bidding opens at £20 and there is only one bidder but there is a reserve of £30, the auctioneer will bid to get up to the reserve but they should never take fictitious bids if there is no reserve or once a reserve is met, but unfortunately I know auctioneers that sometimes do (to drive up prices). They tend to be the old school. It's tricky though as if the real bidders drop out they can get stuck on a fictitious bid! It is also unethical and illegal to do so but this doesn't stop some!

Thank you for an interesting thread, and for answering my questions in such a full and detailed way.

What's the highest amount you have ever sold something for, and were you expecting it to sell for a high price or was it a surprise to everyone?

Only a few thousand, certainly not in the Sotheby's level big time. The most expensive thing I have sold went for the reserve so it was basically one bid and not at all exciting!

I have sold things for several hundred and up to nearly two thousand that were complete surprises though and they are the most exciting.

I have quite a specific question - is there any market at all for boxed silver plated spoon sets? Trying to clear a house to help a friend and wondering if I should just take to charity or if they might be worth something?

In our experience of clearing a relative's home last year - no.

Unfortunately not a lot to be honest, just a few pounds per set, a bit more if they're a good maker like Walker and Hall. Silver is doing really well and has risen in value a lot over the past couple of years, but there's not much silver content in plate so it won't sell for very much.

Any auction rings?

Thank you for the detailed answer to my question, @Gavelicious .

Thanks. Much as I expected tbh.