There are numerous benefits to be had from buying directly at an auction. Typically, auction houses have a better range of items than galleries and private sales. The following will spell out all the boons of buying, and why buyers should visit an auction house for their next treasure hunt.
Clear & Open Pricing
One of the primary advantages of buying at auction is transparent pricing. Before buying, you will have a reasonable estimate of how much something will sell for. With private auctions, the buyer may not know the price without asking the seller directly. This can be disheartening for buyers who like the piece but not the price tag. The same goes for gallery sales, where the price is kept hidden, so other interested parties will never know the item’s final price.
Market-Controlled Pricing
Auction houses allow public pricing availability once the piece is sold, whereas gallery sales do not. This means the free market dictates the price, not the private seller, which helps to make sure interested
buyers are not overpaying for something.
Process Simplicity
Buying an item from an auction house is a cinch, especially when compared to galleries and private sales, where you’ll have to worry about signing contracts and negotiating prices. Instead, the price will be set depending on the buyer’s comfort level. Additionally, auction houses can help to show newer buyers the ropes. This will allow for no unpleasant surprises going forward, ensuring a smooth process for everyone involved.
Classic Items
Most of the time, auction houses have a great selection of things to choose from since they are the primary preference of many sellers. This is perfect for buyers who aren’t yet certain of what they’re buying. In addition, auction houses are very eclectic in choosing what items to sell. That guarantees a high-quality, authentic piece regardless of what you’re looking for. Name Your Price When going through an auction house, you won’t be pressured into spending a penny more than you wish. Unlike galleries or private sellers, auction houses never use high-pressure sales tactics to try and squeeze every dollar they can out of you. In addition, bidders can choose to cease bidding on an item without any qualms or limits, no matter what the item is.
The Option Of An Online Auction
The prime benefit of holding an auction over the internet is its openness. Instead of only having buyers from the local area, an online auction opens up your items for sale to a worldwide audience. Online auctions also eliminate the need for a lead once a bid is placed. Instead of waiting — sometimes for months — to hear back, the feedback on your bid is virtually instantaneous with an online auction! And this, in turn, means there are no middlemen involved, which typically means a lower bid price. Time is also a non-factor with an online auction. If you’re the seller, you don’t have to give your undivided attention to the auction. You’re free to check the current high bid and additional list items. Once you’ve established yourself as a seller to be trusted, you may see many repeat buyers because they’ve dealt with you before and have confidence in doing business with you.
Kodner Galleries has been in the auction business since the 1940s. If you’d like to learn more about the online auction benefits that will come your way, please get in touch with us. As you can see, going online means many auction advantages. Our team can also help you appraise your items, so you’ll know exactly how much a piece is worth. Contact us today!
