People, who have never stopped by at an auction before have missed out on some of the most exceptional experiences life can bring. Stepping inside an auction house is like stepping into a treasure trove that looks a lot like a contemporary museum, except, most of the things are up for grabs. Tasteful modern Swarovski earrings to chunky heirloom necklaces, these places offer impressive variety and style. Unlike what we see in the movies, people from all walks to life attend these soirees. Such occasions put forth unique opportunities of bagging delectable riches at steal prices.
The biggest attraction of any auction might be the act of bidding that puts the callers and the final buyer in the limelight. Nonetheless, finding a glamorous auction today can be challenging since the number of auction houses has dwindled. Over the years, people have replaced the actions of live bidding and buying with online shopping. Does that mean jewelry auctions are about to go extinct? What will happen to the thrill of bidding for a prized artifact that everyone covets?
In reality, nothing can ever replace the thrill of auctions. That is probably why the online sites are gradually adopting the practice of live auctions of rare gems and jewelry pieces from around the globe. Buying from an auction adds a nostalgic value to the jewelry and makes them more precious to the buyers. An auction adds a lot of commotion to the buying and selling process that can potentially cloud the judgment of the buyer. You can end up overpaying for something that is grossly regular, but how do you know what the right price for an item is?
How can you make the most of any online auction?
Contrary to popular belief, auctions are not the forte of the experts only. An amateur jewelry broker or a hobby collector can also close great deals at an auction, provided they have the correct information. Here are a few things you must ensure in case you are buying jewelry at an auction –
- Check their catalog thoroughly – do not make emotional bids. Always check the description of a piece on the Live Jewelry Auction Site to learn about its actual value. If you find dubious details, crosscheck with the auctioneers and research on the web. You will often see the correct prices of the older pieces for sale, online.
- Take a close look – if you are thinking of paying a pretty price for a piece, you should not be afraid to handle it. Examine the jewelry closely for imperfections, signature marks or styles, craftsmanship and anything else that indicates its uniqueness.
- Speak with the auctioneers – the only way to learn about the real history of an heirloom piece is by speaking with the auctioneers in charge. Apart from reading the catalog, you should also check the authenticity of the purchasing papers and other documents. It is essential to check the details carefully in case it is an expensive piece.
- Keep calm and bid – the online process of registering, verifying your identity takes a lot of excitement out of the bidding process, yet it is far more exciting that window shopping on a retail site. A smart bid always involves a keen understanding of the piece, correct information about its history and current pricing, and an understanding of the current bidding trends that will affect the final prices.
- Learn about the terms of sales and service – just like any retail site. A live auction website will have their terms of service. Most reputable sites that sell expensive pieces have a refund period, during which the buyer can get an expert to evaluate and attest to the authenticity of the piece.
Online auctioning sites are super secure
The minimum bidding value, bidding increment or the hammer price does not depend on the medium of the auction. Online jewelry auctions have been happening for the better part of the decade now, although the convenience usually comes at a small fee. The transactions that occur online typically bear several layers of security including 128-bit encryption. The entire deal takes place on secure server connections that prevent third parties from accessing your bank details. Most current bidding websites have all the details and information you will need to place your bid(s) on the available items.
The hammer price is not your ultimate expense
Some buyers believe that bidding online eliminates the buyer’s premium from the equation. They are wrong! The hammer price might be the final bid, but it is not the total amount you will be paying for the item. Most jewelry pieces attract a buyer’s premium that can go up to 26% and it can also include taxes. Even with the additional charges, the costs are lower than retail prices. To buy jewelry at a reasonable price from retail stores, people often have to wait for post-holiday sales, Easter sales and Fourth of July sales, but to purchase jewelry from an auction you can check in and register any time of the year. Auction jewelry is cheaper and often more valuable than what retail offers today. Adding the ease of online bidding to the conventional auction system brings forth a chance to bag some great stuff for your collection or your special someone.
You can browse and find new ideas
Modern jewelers often draw inspiration from the estate pieces of jewelry that go on auction from time to time. An additional benefit of finding jewelry on auction is their uniqueness. Depending on where the sale is, the pieces can be heirloom, antique, Victorian or Art Deco. You can be sure they are one of a kind. In case you are unsure, you can always speak with experts and the auctioneers before the bidding starts. Under all circumstances, be sure the check the whole site thoroughly for hidden gems, missing links and additional information on the process.
The opportunity of bagging a fortune for a fraction of its retail price, the possibility of owning samples of excellent craftsmanship and the chance to enjoy the thrill of live bidding make online auctions great places to buy jewelry.