The days of hundreds of biddings filling an Auction House floor, with sounds of Ring Men yelling "Yup, Yup" seem to be heading toward extinction. Many auction houses have gone the way of "Internet Bidding Only". First it was eBay Live (now Live Auctioneers), then Proxibid, Auction Zip, Art Fact, and others, that began to offer the luxury of sitting in your living room, perhaps even in your pajamas, and bidding on auctions all over the country - even the world -- at any time of day. The introduction of these internet bidding portals changed the way Antique Dealers and Collectors found their treasure. No longer did they have to drive from Miami to New York to bid on that "must have" item. They simply logged into their desk-top computer at home, or their laptop while travelling, and bid on that special item without ever having to step foot into an auction gallery. Convenience became key. Winning bidders could simply pay for the auction lots they won, and wait for delivery via UPS or US Postal Service a week or so later. Suddenly, a small little auction house in the middle of nowhere might sell an item to a bidder in Russia, or China, or even to someone in their proximity who, for one reason or another, decided to stay home and bid.
Professional Appraisers and Liquidators, LLC, owned and operated by Charles Fudge, of Crystal River -- formerly of St. Petersburg, FL has been in business for approximately 40 years and, as a result, has seen this transformation of the auction business first hand. When asked, he prefers an "old fashioned auction", with hundreds of live bidders, and the excitement of watching the faces of bidders as they participate in the bidding frenzy and then happily go home with the antiques they've won. However, in this day and age of electronic everything, it is just not practical. Says Fudge, "You just have to keep up with the times". He notes that he has bidders less than a 30-minute drive away who, despite their close proximity to the auction gallery, still prefer to do their bidding from the comfort of their chaise lounge, and pick up their wins at the end of the auction, or perhaps a few days later.
There is a cost for this convenience, however. Most on-line bidding portal companies, such as Live Auctioneers or Proxibid, charge a higher Buyer's Premium (a fee which is added to the final bid, created to cover auction expenses) than his auction house charges. He still charges the same 10 Percent BP (Buyer's Premium) that he charged 20 years ago. But for his customers bidding via computer programs, percents as high as 23% may be charged by the Internet Auction Companies.
The internet customers say they don't mind. After all, with the price of gasoline these days, they report it all works out better for them in the end. Customer Service is what it is all about for Professional Appraisers and Liquidators, LLC, and thus, they offer both Live Bidding and Internet Bidding -- in an effort to satisfy all of their current and potential clients. The "regulars" still reserve their seat in the Auction Gallery, show up early to preview the items up for bid, and hold their bidding cards high to the sound of "Yup, Yup" from the staff as they bid to gain that perfect antique they've been looking for. They can see for themselves, when bidding may be at a lull for an item they hadn't even considered bidding on, and bid on it anyway, so they can end up with bragging rights for the great bargain they obtained. Internet bidders don't quite get the full "effect" of the excitement of the auction, but the variety of auctions they can attend on any given day, without leaving their home makes up for that loss.
Whether to bid in person, or participate in an antique auction on-line is all a matter of personal preference. Those considering the options should look at the following: 1. How far away is the auction? Is it in a convenient location, or too far for travel? 2. What is the Buyer's Premium to bid in person vs. to bid on the internet. (Take the 2 costs and weigh them against the cost of travel to the auction gallery). 3. Consider the photographs the auction has provided for each item. Do they show every side of an item, so you can examine it as if you held it in person? Do you feel comfortable enough with their photos to risk bidding without seeing the item in person? 4. Ask others about the reputation of the auction gallery. Are they fair and honest? How long have they been in business? Do they have references? Do their descriptions accurately describe their merchandise? Do they guarantee their diamonds and gold to be genuine? Do they provide the gram or ounce weight of their precious metals? 5. Are you participating in the auction for entertainment value or as a business? If you enjoy the atmosphere of a live auction, and are not seeking to purchase anything in particular, then you probably would be best to attend a local auction, where you can see, feel, and hear the excitement of the auction. If you are a serious collector or a dealer, then perhaps the more auctions you can attend in one day via your computer, you might make out better, but consider the extra buyer's premium and the cost of shipping prior to making your decision.
The internet has surely changed the shape of the world, and with that, of course, it changed auctions forever. Some will stick to the tried and true way of examing the items in person, and holding their bid cards in the air for the auctioneer to see, while others, who may never have attended a live auction in their lives, may be introduced to the thrill an auction brings, as they push buttons on their computer, and wait for their "wins" to arrive in the mail. Either way, an auction is a great way to purchase items at the lowest possible cost, as the price of any given item is determined by the customers wanting to bid on it.
If you would like to attend Professional Appraisers and Liquidators upcoming antique auction ever live or via the internet on Live Auctioneers, click HERE for more inforation. Their October 30th Antique Auction begins at 10am and includes Estate Jewelry, Hummel and Royal Doulton Figurines, Antique Art, Antique Furniture, Miniature Portrait Paintings on Ivory and many other treasures.
Professional Appraisers and Liquidators, LLC, owned and operated by Charles Fudge, of Crystal River -- formerly of St. Petersburg, FL has been in business for approximately 40 years and, as a result, has seen this transformation of the auction business first hand. When asked, he prefers an "old fashioned auction", with hundreds of live bidders, and the excitement of watching the faces of bidders as they participate in the bidding frenzy and then happily go home with the antiques they've won. However, in this day and age of electronic everything, it is just not practical. Says Fudge, "You just have to keep up with the times". He notes that he has bidders less than a 30-minute drive away who, despite their close proximity to the auction gallery, still prefer to do their bidding from the comfort of their chaise lounge, and pick up their wins at the end of the auction, or perhaps a few days later.
There is a cost for this convenience, however. Most on-line bidding portal companies, such as Live Auctioneers or Proxibid, charge a higher Buyer's Premium (a fee which is added to the final bid, created to cover auction expenses) than his auction house charges. He still charges the same 10 Percent BP (Buyer's Premium) that he charged 20 years ago. But for his customers bidding via computer programs, percents as high as 23% may be charged by the Internet Auction Companies.
The internet customers say they don't mind. After all, with the price of gasoline these days, they report it all works out better for them in the end. Customer Service is what it is all about for Professional Appraisers and Liquidators, LLC, and thus, they offer both Live Bidding and Internet Bidding -- in an effort to satisfy all of their current and potential clients. The "regulars" still reserve their seat in the Auction Gallery, show up early to preview the items up for bid, and hold their bidding cards high to the sound of "Yup, Yup" from the staff as they bid to gain that perfect antique they've been looking for. They can see for themselves, when bidding may be at a lull for an item they hadn't even considered bidding on, and bid on it anyway, so they can end up with bragging rights for the great bargain they obtained. Internet bidders don't quite get the full "effect" of the excitement of the auction, but the variety of auctions they can attend on any given day, without leaving their home makes up for that loss.
Whether to bid in person, or participate in an antique auction on-line is all a matter of personal preference. Those considering the options should look at the following: 1. How far away is the auction? Is it in a convenient location, or too far for travel? 2. What is the Buyer's Premium to bid in person vs. to bid on the internet. (Take the 2 costs and weigh them against the cost of travel to the auction gallery). 3. Consider the photographs the auction has provided for each item. Do they show every side of an item, so you can examine it as if you held it in person? Do you feel comfortable enough with their photos to risk bidding without seeing the item in person? 4. Ask others about the reputation of the auction gallery. Are they fair and honest? How long have they been in business? Do they have references? Do their descriptions accurately describe their merchandise? Do they guarantee their diamonds and gold to be genuine? Do they provide the gram or ounce weight of their precious metals? 5. Are you participating in the auction for entertainment value or as a business? If you enjoy the atmosphere of a live auction, and are not seeking to purchase anything in particular, then you probably would be best to attend a local auction, where you can see, feel, and hear the excitement of the auction. If you are a serious collector or a dealer, then perhaps the more auctions you can attend in one day via your computer, you might make out better, but consider the extra buyer's premium and the cost of shipping prior to making your decision.
The internet has surely changed the shape of the world, and with that, of course, it changed auctions forever. Some will stick to the tried and true way of examing the items in person, and holding their bid cards in the air for the auctioneer to see, while others, who may never have attended a live auction in their lives, may be introduced to the thrill an auction brings, as they push buttons on their computer, and wait for their "wins" to arrive in the mail. Either way, an auction is a great way to purchase items at the lowest possible cost, as the price of any given item is determined by the customers wanting to bid on it.
If you would like to attend Professional Appraisers and Liquidators upcoming antique auction ever live or via the internet on Live Auctioneers, click HERE for more inforation. Their October 30th Antique Auction begins at 10am and includes Estate Jewelry, Hummel and Royal Doulton Figurines, Antique Art, Antique Furniture, Miniature Portrait Paintings on Ivory and many other treasures.
