If you are just getting into buying at auctions, and are wanting to narrow down your options, one of the best items to start with is jewellery. There are so many options within this category: watches; rings; necklaces; bracelets; etc. This leaves you with a lot of choice when you go to auction, but even more importantly, some very collectible pieces. Antique jewellery is also ideal as it won’t take up too much room in your home, so if you are buying numerous pieces, you won’t need to struggle to think where to keep them. The only advice is to store them separately in their own individual boxes – this will keep them in the best condition possible.
Regardless of whether you intend to wear the item, or you intend to sell them on and make some money from them, the advice for buying them is the same. You need to do your research before you go to auction, make sure that you identify pieces that are good quality and desirable, buy something that makes you happy – not something that you think other people might want, and above all, make sure you familiarise yourself with the terms and conditions of the auctioneer. Here are a few more details around each of these steps.
Do Your Research Before Your Turn Up to Auction
It seems obvious, but this is too important to miss out from our advice list. If you turn up to auction wanting some jewellery, but you have no idea about what is what in the antique jewellery world then the chances are you could end up with something really expensive that nobody wants – not even you!
If however, you do your homework about different styles, different periods, different producers, etc. you are far more likely to bag a bargain antique that will only go up in value.
Take Care to Buy Quality
Some old jewellery pieces can be scratched and in poor condition. Take for example a beautiful antique watch that you absolutely adore, but when you look closely the face is cracked and the clasp is broken. You really need to take care to understand how much that will affect the value of the piece. If bits need to be repaired, or replaced, then this will make the item wearable, but will inevitably make its value plummet. If you want to buy it for your own collection and are not bothered about reselling, then that is fine, but if you are hoping the item will go up and up in value, this is unlikely. Try to therefore only go for items that are in perfect condition, and make sure you store them and maintain them well to make them hold their value.
Buy Something That Makes You Happy
As advised in the previous step, if you are just buying for yourself, then you can’t go wrong. No matter whether you are able to sell on or not, you will have an item that you love and therefore will not regret buying.
Auctioneer Terms and Conditions
Something that many people forget to do is to do their research about the auctioneer terms and conditions. The reason this is important is that you may not understand their bidding system, or you many not be able to attend a particular auction, but you may be able to bid for the item you love online. You also need to find out about whether a deposit is necessary on the day and how you are supposed to pay for the item you purchase. Check their terms before you go and you will be fine.