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The more you know, the better you can do at an auction. You can learn about antiques at shows, shops, from books, or online. Knowing that an item is authentic or unusual, knowing the value of an item or who to sell it to, and if all else fails, sometimes just knowing that you appreciate an item more than the rest of the audience that day, can yield a very rewarding auction experience. A few keys to a successful foray into the world of auctions include:

There are many settings and stages for auctions today from a country farm auction selling $5.00 tractor wrenches, to a New York Gallery Auction with glossy catalogs and 45 million dollar paintings. With a little time and experience, a new beginner can soon become a seasoned pro. Now things can start to get a little more complicated.Auctions can be a fun, profitable, educational, and interesting adventure. When the Auctioneer feels that no further bidding will take place, the Auctioneer decrees the item “SOLD” and the process starts all over on the next offering. The bidding continues until one of the Bidders feels that the item has reached or surpassed the price that he/she is willing to pay for that particular item. From that point, the interested parties take turns raising the bid at an increment suggested by the Auctioneer or by one of the Bidders. Often this suggested bid will be lowered until one of the interested parties deems the item worthy and he/she opens the bidding. Typically, the Auctioneer will suggest an opening bid for the item being offered. In their simplest form, auctions require only four components: an item to sell, an Auctioneer, and two Bidders interested in purchasing that item. Auctions have been a vehicle for the dispersing of goods for many centuries.

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