Auction houses in the North East offer a fantastic opportunity to sell your antiques and other unwanted items, while also turning a tidy profit. Regardless of your experience selling at auctions, the process is undeniably exhilarating and incredibly rewarding – but it pays to have a good handle on the overall process before you dive in.
Luckily for you, in today’s post, we’re sharing our expert tips for selling at auction, so you can make sure you’re getting the most from the whole experience.
Scope the market
Antique auction houses like Featonby’s provide an easy way to sell a wide range of items – from selling antique furniture and glassware to artwork and collectibles. Understandably, the sale value is dependent on a number of factors including age, scarcity, condition and market demand. Therefore, it pays to attend auctions a few times beforehand to see which items are selling well and ask if there are any specific requirements involved with selling that you should be aware of.
Research your items
Similarly, if you have your items ready to sell, it’s beneficial to research selling those particular antiques prior to listing them with the auction house – as doing so will offer insight into the value and demand for your pieces. At Featonby’s, selling at auction means you can take advantage of expert auctioneers estimations to help you decide on a suitable reserve price – which means you’ll have as much guidance as possible when it comes to selling your particular lots.
Register with the auction house
With your sale items decided, you will also need to register with the auction house. At Featonby’s, this requires completing and signing a registration form with a clear list of the goods you intend to sell and any applicable reserve prices.
Maximise your item appeal
Ahead of delivering your items, it’s a good idea to clean them up as best you can to boost their visual appeal. Because hundred of items might be sold at any single auction, it’s vital they look at their very best to help them get noticed and pique interest amongst viewers. Whether it’s antique toys, furniture or art, giving them a little TLC prior to delivery to the auction house ensures they are given the greatest chance to be picked up by interested attendees.
Deliver your items
Once your items are registered for sale, they’ll need to be delivered to the auction house and organised into lots for display in the saleroom. This may be simple for smaller items like books, jewellery and glassware, but larger items like antique furniture may need specialist transport or collection by the auction house. In the case of Featonby’s, we have specific drop off times Friday through to Sunday, to ensure all items are processed and ready for viewing before the Thursday auctions.
It’s also worth noting that auction houses will often group items together into a single lot – rather than selling them separately – to help increase the value of the sale and, ultimately, your profits.a
Cash in your sales
After you’ve dropped your sale pieces off, the auctioneers will do the rest. And this means you can sit back and wait for the auction to be over – whether that’s excitedly watching on the day or waiting until the payments are processed post-auction, which will include any deductions for commission fees and VAT.
So whether you’re dabbling in selling items at auction for the first time or you regularly sell collectibles, with this guide you have the essential insights into how you can make the most of your next auction.
For more information on the selling process here at Featonby’s, read more on our site here.