ROOM TO MANOEUVRE

“Bidding in room is the traditional and possibly the most exciting way of buying,” says Chow. “There is nothing like the buzz.” But if you can’t attend, or prefer to keep a low profile, leaving an absentee bid is an option. This method also allows you set a strict bidding limit. Alternatively, you can bid by telephone or online, both of which allow bidders to react in real time.

“Most professionals prefer bidding in the room as there is a lot of information to be garnered about the market from observing the sale, the bidders in the room, the staff bidding on the phone, the pace of the sale and the composure of the specialist in charge,” says Chow.

Adds Ghika: “Before the auction you can take advice from the specialists as to the level of interest in your target piece. Once you have this information you should set your upper limit and jump in.” Always be prepared to react to what happens in the room—and perhaps be flexible with that upper limit. “Sometimes, that one extra bid secures it,” she says.