Collectibles Auction

Buying at a Phoenix Antique Auction

Are you thinking about buying or selling antiques at a Phoenix auction? This article is designed to provide you with the details on how an antique auction works and the kinds of items you might find. Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.

Antique auctions in Phoenix happen all of the time! You can find many treasures - some of which you may have been searching for years. Most auction houses post their schedules online with a list of items. Some of the items you may find in a Phoenix antique auction are:

- Antique furniture
- Vintage clothing
- Collectible items
- Treasured household goods
- Valuable artwork

You can get antiques at an auction for much cheaper than you would pay a dealer. But be careful - there might be some stiff competition (those pesky antique dealers!) out there trying to outbid you. Just remember, set a budget for yourself and try not to exceed it.

How does an antique auction in Phoenix work? In today's day and age, there are basically three types of auctions:

Simulcast Auctions: Live bidders are physically present onsite at an auction compete against online bidders who have either placed proxy bids or are bidding live in real time. This is a common type of auction.

Live Auctions: Only bidders who are physically present at an auction onsite are able to bid. These auctions usually have a notation that reads "Sorry No Online Bidding."

Online Only Auctions: Only registered online bidders are able to bid and complete against other registered bidders. These auctions usually have a notation that reads "Online Only."

In addition, here are some auction industry terms that will help you understand your responsibilities as a bidder:

Absolute Auction: All items in the auction will be sold to the highest bidder, regardless of the bid. There is no reserve or minimum on the item for bid.

Auction with Reserve: Some or all items in the live Arizona auction have a minimum bid that must be reached by a bidder before the auctioneer can sell the item. This type of auction is reserved mainly for items with a high value such as construction equipment, homes or commercial real estate properties.

"As-Is" or "Where-Is": In these types of auctions, there is no warranty on the merchandise and the bidder is responsible for removal from the auction location. This means that the bidder must rely on their own inspection and knowledge to make bidding decisions.

Choice: Auctioneers use this buying option when more than one product is being offered for sale. The bidder may bid for an individual item, and the winning bidder may take as many of the set as they wish. If the bidder does not want all of the items, the remainder items go back up for sale at the same price to any bidder.

All for One Money: Multiple items are being offered for sale and the bidding price is one amount for all of the items. Bids for individual items are not accepted.

So Much Each & All Go: Multiple items are being offered for sale and the bidder's price is per item, however; the bidder must take all the items.

Sold: When the auctioneer says the word "sold" or the gavel falls after the bidding has ceased, that means the item is sold as the auctioneer directs to the clerk. The bidding cannot be reopened after the word "sold" is said.

Final Word: The auctioneer has the final word in all bidding situations. If the ringman took your bid and the auctioneer did not see the bid, the item is sold as the auctioneer directs.

Deb Weidenhamer is CEO of Auction Systems, the Southwest's most active auction and appraisal company. Check out our website for the next scheduled Phoenix antique auction or call 800-801-8880 for more information.

Article Source: ArticlesBase.com