Things You'll Need:
- Money
- Identification
- Letter of credit
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Step 1
To bid at an antique auction, you need to qualify by registering to bid with the auction company conducting the sale. Some firms offer preregistration online, by phone, or in-person before a sale, but for on-site sale day registration, simply go to the registration desk and note what is required to bid at their sale. Usually you need to show an identification and verify your intended method of payment. Depending on the level of bidding anticipated, you may also need a letter of credit from your financial institution. The registration process is complete when the firm supplies you with your bidder’s number. Don’t lose it; it represents the contract between you and the auction firm. Once you bid with your number, you are obligated to pay.
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Step 2
Take a look around the auction hall. Find the pieces that you might be interested in bidding on and mentally set your maximum bid. Most people will blow this number away in the frenzy of bidding, but it is wise to have a bidding limit in your mind.
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Step 3
When the auctioneer brings your items up to the block, pay attention. If he or she is any good, the process moves rather quickly. As he calls for bids, take a glance around the room to see what kind of action he is getting. Is anyone bidding at all? If not, feel free to call out your own dollar amount. He wants $1000. Tell him $500. Hold up your bidder’s number. Don’t be offended if he ignores you. Usually, an auctioneer will acknowledge and accept all bids, but they all have their own styles.
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Step 4
Once you start bidding on an item, hold up your bidder’s number at each increment during the progression of bidding. Better still, make eye contact with the auctioneer. Once he considers you a player, he isn’t going to let you lose your bid simply because you looked away for a moment.
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Step 5
Continue to bid until you decide you can’t afford the escalating price or the auctioneer calls it once, twice, sold -to you!
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Step 6
You can continue to bid on other items throughout the auction or settle up as soon as you have won the item(s) you want. Take your bidder’s number to the check-out desk. The clerk will tally your purchases, add the buyer’s premium (a fee that goes to the auction house of anywhere from 10% to 25%) and the sales tax, and give you your receipt and your claim check for your purchases. Take your treasures and bring them to their new home.
