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Auction Strategies Part II

Auction Strategies Part II

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This is Part II of a blog by Reyne Haines

So, last week I left you hanging when I asked Martin the question:

What strategies to buy at auction would you give to the novice?

Here is Part II of my interview….

Martin: It is a tough question, but I will try and answer the best I can.
First of all, the novice should know most of us, if not all in the business have learned from our mistakes. I have a few mistakes kicking around in my house as a matter of fact. The best advice is not to look at buying at auction in an adversarial mode. I always hear this gem told to the novice: “find out who the antique dealers are and bid one bid higher than them.” That has to do with retail mark-up and what you can buy it for. However, this is not fool proof. There are many ways to make mistakes here. First of all, there is no way of telling if the dealer has a desperate client willing to pay too much for something, or if the dealer is buying for their own collection. I have seen dealers pay extraordinary prices for something they collect.

The best strategy I can think of for a novice is again, use patience coupled with perseverance. Go to auctions, watch what happens, and get yourself familiar with what things sell for. Watch how people bid, and what they bid on. Make notes if you have to. If you only spend $100, then the most you can lose is $100.

My suggestions for the “Do’s & Don’ts” for the novice at auction are:

1.     Again, do not bid on something you have not inspected. Auctioneers do not want to take items back and often will not take them back (unless accidently misrepresented)

2.     Try not to be the first bidder on an item.

3.     Do not keep your card up while bidding (known as the Statue of Liberty Bid). Along those lines, when bidding, don’t look too excited about bidding and use your best poker face.

4.     Do not buy something just because it is a deal. You may be buying something no one else is too excited about. If you may have to live with it, make sure you like it.

5.     If you see a particular piece at an auction that you think you would like to own, inspect it carefully and research it if time permits. Take the catalog description home with you and explore the piece on the Internet. Or, ask advice from a dealer, often times, they will help you.

6.     Do not ask other people not to bid on something you want, people often take offense to you asking them. Also, it could be considered collusive. Along those lines, do not tell other people at the auction what you are interested in.

7.     Don’t be afraid of the auctioneer. Ask questions at the preview on what he or she and or the staff may know about a particular piece you may be interested in.

All great tips Martin!
Reyne: So would these tips apply to online bidders? Or would you have any strategies for the online bidder?

Martin: Another tough question. It is always best to be there in person for
a dozen reasons. However, online bidding has come a long way.

Here is what I suggest:

1.     Buy at an auction house with a good reputation.

2.     Make sure the condition report is thorough and it is cataloged correctly.

3.     Make sure you understand the conditions of sale, buyer’s premium and shipping, etc.

4.     Know that bidding online is not infallible. It has come a long way, but it is always possible your bid will not go through or the auctioneer will move too fast to catch your bid. When I bid online, I just leave an absentee bid of my maximum amount. It is safe way to go and no one knows the amount you leave or who you are. You can just leave your bid and go play golf or something.

Reyne: I can’t help but ask… any big hush hush trade secrets we should know?

Martin: Because I am an auctioneer, I am reluctant to share this, but will anyway. As auctioneers we want to see everything sell at an auction. However, that is fantasy and sometimes 15% of an auction or more may pass for some reason or another. There are a number of people out there that contact an auction house after a sale and ask about the unsold lots. Often, there is a lot of negotiation, as consignors have generally wanted the pieces out of their life. I have heard of many stories of wonderful buys as “after sales”.

So you mean to tell me that my first auction in November is not going to have 100% sales ratio?
Thanks so much Martin for sharing your knowledge of auctions, bidding, and the strategies to go along with them.   You rock!

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Tips for Cleaning Cloudy Glass By Reyne Haines

Tips for Cleaning Cloudy Glass By Reyne Haines

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We decided that our weekly blogs are going to be informational. You will be seeing a lot of “How To” in regards to antiques, art and auctions. Your input for ideas is always welcome, just send us a message on our Contact Us page. Also, if you want an expert’s opinion, there are a number on our Community message board. You can sign up for free and post a picture under What Is It Worth?

There are many things to consider when collecting glass.  First, we decide why we are collecting it.  Is it because we saw something at a friends that caught our eye, or did we inherit a set of dishes when grandma passed away?  Did we read in a magazine about the increase in value of art glass over the years and decide that while the stock market is down, we will park our money in a different type of “investment”.

Once we have chosen a style of glass we like and can afford, we look to educate ourselves further about when it was made, what the company made and where we might find more.  Fortunately, your local bookstore offers an abundance of books on collecting all patterns and periods of glassware to help you.  These books often provide background information and history of the manufacturer, patterns and pieces that were made by the company and during what time period.  Many of these books, depending on the type of glass, offer a price guide of sorts to help you get a basic idea of what to pay for additional pieces you find in your travels.

The one thing the books might not mention is condition.  Condition can be a major factor in the value of any piece of glassware.  Most collectors are purist.  By that, we mean they want things in mint condition, as if they just came off the showroom floor.  No chips, cracks, roughness or sickness.  The only exception to this rule is extremely rare pieces.  Condition is still of importance, but because of a crack or chip, collectors are still interested in the piece because of its rarity.

Chips sometimes can be repaired if they are not too large or too deep.  A local glass repairman (or glass grinder) can polish them smooth.  As for cracks, there is little that can be done.  Roughness many times is found in Depression glass, or other mass-produced glassware made from a mold.  Mass produced glass is often poor quality and has flaws that were overlooked when finishing.

Sick glass, or cloudy glass as it is often called can sometimes be remedied.

Cloudy glass is an industry word describing glass that has calcium deposits which causes a light “foggy” type appearance in glassware.  The water that held the flowers in the vase or the repetitive washing of the tumbler is the culprit.  They need not stay in this condition.  There are several ways to bring that vase back to its original lustre.

Over the years collectors have reported a number of household products that they have found cleaned the lightest, to the heaviest hard water stains.  Below are just a few of them.

  1. Fill the object with a mix of ammonia and water.  A few hours should do the trick if the stain is not too thick.
  1. Vaseline or petroleum jelly can sometimes remove light calcium build-up.  Let it sit for 4-5 days before removing.
  1. Fill with luke warm water and drop in a denture cleaner tablet.
  1. Pearl Drops Toothpaste has been recommended for light calcium stains. Dab a little on your index finger and lightly rub.  Wash with water.
  1. Dow Tub and Tile cleaner.  Spray on, let sit, then rinse.
  1. There is a product in the supermarkets called Krazy Kloth. It is highly recommended for the toughest hard water stain.  Follow the directions on the packaging, and wash with luke warm water.
  1. Lime Away. The same product you use on your tub and shower doors.  Always remember for products that require rubbing to do it lightly and in small circles.

Remember, never wash glassware with cold or hot water. Extreme temperature changes can cause glass to crack or shatter.  Also, glassware should not be placed in the dishwasher.  Again, hard water stains will eventually appear, and there is also the possibility the vibration of the dishwasher can cause a piece to shatter.  The best way to clean your glass is to wash by hand, always with luke warm water and mild dishwashing soap (liquid), and towel dry.

Often, great pieces of glass are passed upon at shows and shops because of their cloudy appearance.  If the price the piece is being offered to you is reasonable, don’t pass it by!