The Art of Buying at Auction: When to Bid to Get it in Time
Christie's Auction Rooms, print, (1808) designed and etched by Thomas Rowlandson (Wikimedia Commons).
The art of buying at auction isn’t nearly as intricate as the paintings going under the hammer. Instead, it’s timing that’s everything in the auction world, as knowing when to bid can be the difference between winning wisely and overspending.
There’s a unique thrill to buying at auction. Unlike browsing online or on the high street, successful bidding rewards patience, research, and perfect timing to secure that one-of-a-kind treasure.
Once solely confined to auction houses, “almost 80% of our buyers bid online now,” explained the Director of House Sales at Bonhams, Charlie Thomas. And online, the true secret to auction success isn’t luck or deep pockets, but timing. So, when the perfect item or gift does reveal itself, look closely, bid quickly.
The Art of Buying at Auction
Auction Sale in Clinton Hall, New York (1876) by Ignacio de León y Escosura (Wikimedia Commons).
Winning that coveted artwork, collectable, or piece of furniture at auction comes down to a mix of research, practical thinking, and timing. Unlike retail, auctions move in waves. Items aren’t waiting for you in bulk batches, as each sale is unique. So, when it’s gone, it’s gone.
While this adds a sense of excitement when a treasured item does appear at auction, it also makes timing vital to the buying process. Early research, previewing lots, and keeping an eye on auction calendars can all give you the upper hand, as you’re not just buying, you’re anticipating.
And with the Christmas holidays never far away, timing is even more important, so planning your bids ensures your piece arrives when you want it, and not weeks later. Once the hammer falls, the practicalities begin, and that’s where timing becomes your greatest ally.
There could well be a number of things to consider, as shipping and handling can take longer than expected during the festive holiday and peak seasons, especially if your purchase needs framing, resizing, or shipping overseas.
Handling packaging and shipping is routine for auction houses like Bonhams and Christie’s, which both provide suggested shipping options. Christie’s even offers sustainable shipping in recyclable, lightweight crates and a consolidated sea freight option from New York to Hong Kong, should you wish to ensure that the only impact your travelled treasure is making is cultural.
This all requires the luxury of time, so starting early means you can plan for those finishing touches without any undue seasonal stress, ensuring your artwork arrives safely, ready to hang, and just when you want it.
Auction Sale in Clinton Hall, New York (1876) by Ignacio de León y Escosura (Wikimedia Commons)
Preparation Matters
Bidding at auction is a world apart from traditional retail. While shop shelves offer fixed prices and predictable supply, auctions thrive on rarity, timing, and a touch of theatre. Buying at auction is much more in the moment. Each piece is unique, available only the once during a designated period, and it’s demand that decides the final price. This distinction brings with it a sense of anticipation and discovery that’s part of the thrill, but it also means that preparation matters.
With a rotating cast of exciting items appearing at auction, smart bidders often refine their search to specialized sellers. For example, Phillips focus exclusively on the defining movements of the 20th and 21st centuries, while Rago Arts and Auction Center is a great place to narrow your search for American woodcarvings. So, keeping abreast of an auction’s offerings is a great way to browse for your next treasure, as is making use of the advanced search on Invaluable. But, they’re not the only tools to help you stay ahead of the crowd.
Tips for First-Time Festive Buyers
If you’re planning to buy at auction this the festive season, then now could well be the time to start setting up saved searches and alerts to ensure you don’t miss out on your favorite item. Invaluable can do just this, letting you track artists, brands, or keywords, so you’re notified the moment something you love appears online.
And organizing these favorite items has been simplified on Invaluable with the new My Items tab in the left sidebar of Invaluable Live Auctions, which enables you to quickly access your active bids and the lots you have favorited.
Before placing a bid though, it’s worth doing your homework and investing your time to learn a little more about a piece or artist. Searches online of art galleries, Invaluable blogs, and magazine articles are all valuable resources, as is the description of the lot provided. But, if there’s anything further, then don’t hesitate to send the auction house a message requesting more photos, detailed information, and a condition report, as auctioneers will typically respond quite quickly and tend to enjoy talking about what they’re selling.
Wilhelm Marstrand, Scene from an auction (1835) (Wikimedia Commons).
A bit of homework goes a long way. It helps you get to know the work, figure out what really speaks to you, and also keep your collection focused, before you start to run out of wall space or money.
So, do you really want a mid-century living room chair? Or, is it a Ludwig Mies van der Rohe Barcelona Chair that is going to fill the space in your home and heart? Once you’ve decided and honed in on exactly what it is you want, then stick to what you’re most enthusiastic about.
That enthusiasm can lead you to getting caught in the moment when bidding, so it’s important to set yourself a maximum price. The Invaluable buyer’s premium calculator, which appears on the screen when you’re ready to enter your bid, will help you stay within your budget. And to ensure you’re not paying over the odds, Invaluable’s Price Archive will provide you with a historical record of similar items before the auction, as well as the prices they achieved.
And joining live auctions as a spectator (at first) will help you understand the auction process and give you the greatest platform to help you secure that dream piece. If you find yourself momentarily away from your computer, then the Invaluable mobile app will keep you up to date of any last minute bids. And for the full auction experience, many auctions on Invaluable have audio and visual services that can transport you straight to the bidding room floor. “Going once, going twice, sold!”
Smart Collectors Start Early
Whatever your bidding strategy, auctions aren’t a place for the shy. Be confident in your bids, whether it’s an early bid that keeps you in the running if reserves aren’t yet met, an absentee bid with a maximum set price, or a later bid as the auction comes to a close, if you can hold your nerve.
Auctions are fast paced, but reward patience. They can finish in a flurry of activity, but are best approached with plenty of preparation. There’s a dichotomy to auctions, but if you can marry your passion and pragmatism and hone in on something you have your heart set on after considered research, then bid confidently and without hesitation, and enjoy your new prized possession.
Based in north London, England, Dan Mobbs has well over a decade of experience as a journalist and divides his time between sub-editing watch magazine Oracle Time and his love of art with Invaluable. With a wealth of museums on his doorstep, Dan regularly indulges his passion for mid-century modern design and modernist art at exhibitions and Invaluable has been a welcome home for his enthusiastic articles. Chat to him about Charles and Ray Eames and he’s putty in your hands.
