Tips for buy­ing and sell­ing at auc­tions

Mt Druitt - St Mary's Standard (East) - - HOME - Erina Starkey

BE­FORE you bid on that in­cred­i­bly rare sil­ver mus­tard pot, there are a few things you need to know.

Make sure you have in­spected any items of in­ter­est be­fore you place a bid, says Gina Lu­gosi, an auc­tion­eer and val­uer from Lu­gosi Auc­tion­eers.

“And ask for a con­di­tion re­port, you’ll want to know about any is­sues be­fore, rather than af­ter,” she says.

Pre­dict­ing the price an item will sell for can be dif­fi­cult and largely de­pends on the com­pe­ti­tion on the day, says Lu­gosi. “As a gen­eral rule, if you dou­ble the lower es­ti­mate price, this usu­ally wins the lot.”

Make sure you have planned how you are go­ing to trans­port the item should you win it and when you are re­quired to col­lect it by, as auc­tion houses can charge for hold­ing the item.

“Fi­nally, make sure you re­ally love the item, as there are no re­turns af­ter sale,” Lu­gosi says.

If you feel you may have an item of value at home, Lu­gosi Auc­tion­eers of­fers free auc­tion ap­praisals over email or you can live your own An­tiques Road­show ex­pe­ri­ence and bring the item into Lu­gosi’s Bal­go­wlah auc­tion gallery.

Some of the more un­usual items Lu­gosi has seen in­clude gold teeth from a de­ceased dober­man, a foot skele­ton from an ex­tinct gi­ant moa bird and 16th cen­tury pa­pal doc­u­ments.

“We’ve achieved some great prices for our clients, in­clud­ing $3000 for a small 1930s pot­tery dish, $24,000 for a pair of Chi­nese porce­lain flow­er­pots and $35,000 for an 18th cen­tury bronze Bud­dha, all from lo­cal clients who were com­pletely un­aware of their value,” Lu­gosi says.

And re­mem­ber, auc­tions are not just for orig­i­nal art­works and Nan’s fig­urine col­lec­tion. Items such as retro toys and Bar­bie dolls, old computers, early edi­tion books and mu­si­cal in­stru­ments can be highly sought-af­ter items. More in­for­ma­tion at lu­gosi­auc­tions.com.au

An an­tique can make a great in­vest­ment but there’s more to win­ning an auc­tion than meets the eye.

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