Harvey Cammell is Deputy Chairman of Bonhams UK and Global Director of Valuations and Private Collections. Here, he shares his tips on how to maximise your auction experience, whether you are bidding on antiques, fine art or memorabilia. www.bonhams.com
Research the Market
“Buying art and antiques is a passion driven business – but even so, the best collectors always do their research and find out as much as they can about the artefact they are about to bid on. Read around your desired artist or object and talk to specialists in the auction industry. Any specialist will always be happy to share their knowledge; as every good auction house should.”
Compare Values
“Auction estimates are just a guide. On the day, the market decides whether they agree with the auctioneer by directing bids as they appear. Value will be determined by a number of factors, but the most important to consider are authenticity of the work, followed by rarity, condition and provenance.”
Buy the Best
“For maximum investment, the old adage about buying the best you can afford is always great advice. Obviously, this can be difficult if you have a passion for a big name artist, but if this is the case and bidding is fierce, drawings, prints and editions can give collectors a starting point for their portfolio. If money is not a concern always buy the very best you can.”
Decide How to Bid
“These days, there are so many ways to execute your bid at auction. You can set your limit and leave the bid with the auctioneer in advance of the sale, or jump on the web or phone and bid live as the auction progresses. The best way, in my opinion, is to attend a live sale. This way, you can check out the atmosphere and enjoy the experience with a great auctioneer. It is thrilling stuff to witness and an experience you will always remember.”
Always Bid One More
“As an auctioneer I would say this, wouldn’t I? But it is so important to have no regrets. If you really want something and you are at the final stages of bidding, try not to fall at the final hurdle. Any serious collectors will quickly forget that extra bid in years to come if you are ultimately successful winning the item of your desire.”
Check It Fits
“This sounds simple, but it is actually a very common bidding blunder. Even I have got carried away with bidding on something I fell in love with at auction, only to fall foul of not checking the dimensions of where it would fit once I got it home. Don’t make an expensive mistake: it only leads to a headache.”
Enjoy the Process
“Auctions are tremendous fun – sometimes nerve-wracking and other times euphoric. Either way, the process of viewing and then bidding on incredible artefacts should always be a memorable one. Soak up the atmosphere: you could be going home with an exquisite edition to your collection.”
