The Magpie's Intro to auctions

The guide is focused on Swedish auctions and our general rules, but many of the tips also apply to international auctions.

Different types of auctions

Online auctions are the most common form of auction. Objects are posted online, bidding takes place digitally and there is usually an end time when the auction ends. Often you need to have an account and be logged in to be able to bid. If it is possible to look at the objects before the auction at a viewing, it is called a real-time auction. Hammer Auctions are the traditional form of auctions and take place IRL. The auctioneer shows the objects in turn and buyers bid in the hall - e.g. with a spade, but it is also possible to participate by phone or online. The Swedish Distance Buying Act does not apply to hammer auctions!

Condition

In general, all auction items are sold as-is, and it is you as the buyer who is responsible for examining the item before the auction. The best thing to do is to visit a viewing, but sometimes that is not possible, or there is no physical viewing. In those instances you can contact the seller and ask for extra pictures and more information - often they sit on a lot of good information, but are restricted to a set "format" for any given item. Also, all objects must be treated equally so that the catalog is reasonably objective.

In general, old objects can be in a bit of a rickety condition, many things can be fixed, but not everything, and above all it can cost a lot to do so. Hence dare to be the person who asks.

Buyer's commission

There is always a buyer's commission when you bid on items at auction, typically somewhere between 15-25% - it depends on the auction house. On expensive objects, there is often a lower buyer's commission, where you pay a lower percentage on amounts that exceed certain thresholds. There are also shipping and handling fees consider

This is important to keep in mind when you bid so you don't get a shock and can't afford to collect your treasure.

What is a good buy?

Ok, like this, there is no such thing as an objectively greats buy - today the auction houses today know their shit and as a result set reasonable valuations. There is always the possibility that you manage to gather many interested parties in the same place and then the price goes up. Supply and demand.

Historically, buying gold and Rolex has been a solid investment, but that may change in the future.

A good purchase is a good purchase because it feels good in your gut, which makes you happy even though you went slightly over your budget. NOTE. Budget is good, but maybe it should have a little flexibility, you don't want to go and think about that item that you lost out on in five years because you didn't bid an extra 20 Euros.