AUCTIONS ARE IDEAL FOR BARGAIN HUNTERS
These live and online sales are gaining in popularity, writes Nontando Mposo
IF YOU enjoy hunting for a bargain or finding that soughtafter collectable, then auctions may be just the thing for you. With rare or discontinued items on offer, buying at an auction means you’re more likely to find unique pieces… and if you do your research you could end up with an investment piece.
While online marketplace and auction platforms such as Bid or Buy and eBay are making inroads and people can now buy and sell goods with the click of the mouse, the auction option remains popular.
“Live auctions have embraced technology and made viewing and bidding via the internet available. I also think that people often want to be able to see and handle items on auction, particularly the higherpriced items,” says Anton Welz, the director of auction house Stephan Welz & Co. “Also, bidders who are unable to attend the auction often request condition reports and photographs of what they are interested in… something many online portals do not offer.
“The industry has changed in that today most reputable auction houses publish their results and people are more easily able to follow trends and art prices than in the past. The internet has also allowed bidders to view catalogues online, which has meant that condition report requests have become more common.
“Many bidders also make use of telephone and online bidding as opposed to having to physically be in the saleroom. And most clients now prefer buying at an auction to buying from art galleries.”
Whether it’s ceramics, furniture, jewellery, art, silver or other collectables you’re looking for, attend the viewing if possible and if you can’t, ask for a condition report and more photos of the lot you are interested in beforehand, says Welz.
“Ask the relevant specialist for advice and an opinion on the item if you are unsure of anything.
“Auctions often provide the opportunity to acquire unusual items at good prices, so do the research,” he says.
Joburg-based collectable car specialist Jack Rosewitz says South Africa is becoming a hub for auction houses.
“There used to be only one or two auction houses in South Africa. Today there are many more. There are also a number of overseas auction houses operating within the South African market now,” he says.
“Unusual collectable items are not something you can find in a conventional shopping mall.
“Auctions also provide the opportunity to find bargains, as opposed to retail shops where there is a set price,” adds Rosewitz.
But it’s essential to determine a benchmark figure that you are planning to spend so you can invest wisely, advises Rosewitz.
“It is also important to research the South African market in the brand and model you’re looking for – through the dealer’s ads, auction houses or various car clubs.
“Also keep your wits about you; if you aren’t fast enough, you could be outbid by someone else.”
Fine art specialist Gary Shean says that the current consumer trend is leaning towards the contemporary side of art.
“Although South African masters like Jacobus Pierneef, Maud Sumner and Irma Stern are still popular, artists like Nelson Makamo, Lionel Smit, Stanley Pinker and Alexis Preller are fetching higher prices,” he says.
“There are two reasons for purchasing art: first, because you love their work and want it to hang and live in your home, and second because there is an investment aspect to the art piece and artist.
“Depending on your reason, I would suggest speaking to a qualified art specialist – after all, you wouldn’t buy life insurance from a plumber,” says Shean.