The Online Auction 101
A manual that will get you started on auctions, bidding, and international shipping.
What is an online auction?
A place where people bid against each other on items collected by an auction house, gathered into a sales catalogue, and put online and in-person for auction.
Who will you be bidding against?
Combing through hundreds of auction catalogs is time consuming, so bidders tend to either be collectors looking for very specific items or independent retailers that resell second-hand items to people like you and me.
7 Reasons it’s smarter to buy at auction?
Because it’s less than half the price of an item’s retail value.
Because you have unique and rare options.
Because there are no hidden costs and no high mark-ups. There’s no reason to pay the extra dime for someone else’s selection (not in the age of the internet at least).
Because there’s adrenalin in the experience, you’re an active participant.
Because it’s a wise investment.
Because you’ll be supporting small businesses and artisans.
Because you set the price you want.
Let’s take a moment to watch the famous Christie’s auction where Leonardo da Vinci’s painting “Salvator Mundi” sold for $400 million.
Not all auctions end at $400 million AND not all auctions have rooms packed with rich people. As a matter of fact, the only person you’ll really be in a room with is yourself.
Before we get into the details, let’s first look at the online platforms that consolidate all the auction houses and let you browse and bid for free.