Sale Rooms and auction Houses

found in: Buyer Information

 

People often ask me whether they would be better off buying direct from the sale-room rather than from a retailer like myself?

Buying direct does not guarantee you a more reasonably priced purchase as without knowledge of value you could equally be paying more than it is worth.

ON AVERAGE BUYING INCURS AN EXTRA 27.5% (depending on sale-room) IN PREMIUMS ON TOP OF THE HAMMER PRICE…..SO BE WARNED!!

Generally, the public are influenced by the estimates given in the catalogue. These are not necessarily a true representation of value but a low estimate to encourage bidding which in the heat of the moment in the sale room can easily exceed the true worth of the item. A low estimate is also used to achieve a high percentage of items sold. The sale-rooms are there to sell, they do not want to have to carry unsold items over to their next sale.

ON AVERAGE BUYING INCURS AN EXTRA 27.5% (depending on sale-room) IN PREMIUMS ON TOP OF THE HAMMER PRICE…..SO BE WARNED!! Retailers on the other hand have already paid for the item and the premium and have the knowledge of its true worth.

I am always happy to offer advice on jewellery values at auction and purchase on ones behalf if the sale room is within a reasonable distance from me.