Auctions have been held since ancient times. Synonymous with good deals for both buying and selling, auctions are becoming increasingly popular. But do you really know how it works?
What can you buy?
When we think of "auction", we think of works of art, collectors' items... but not only that. In fact, you can find all kinds of goods! Furniture of all styles and eras, new and old objects, household appliances, works of art and paintings by illustrious unknowns, jewelry, silverware, tools, professional equipment, computers and even vehicles! You can even unearth some real treasures with what we call "manettes", i.e. bric-a-brac sold at the beginning of the auction at low prices.
When it comes to works of art (paintings, sculptures...), the auctioneer and/or expert is responsible for the information given in the catalog ("school of", "attributed to"...). This responsibility offers great security to the buyer, who then has the possibility of having the sale cancelled a posteriori, if he learns that it is a fake, for example. Buying through an auctioneer is a guarantee of security and transparency. The goods offered for sale either come directly from private individuals who have spontaneously entrusted them to the auctioneer, or from inheritances, or are put up for sale following a court decision (liquidations, for example). It should be noted that only the most prestigious sales are accompanied by a catalog detailing each item. So-called "regular" sales have none of this.
How does it work?
You can attend your first auction as a spectator, just to see how it all unfolds. That way, you'll be able to get a better grasp of the mechanism and soak up the atmosphere. To do things in the right order, the day before or the morning of the sale, you can go and see the auction items. You'll be able to examine them, see if they're in good condition and match what you're looking for. Examining the lots before the auction is an important step. After all, it's through seeing objects that the eye is formed.
It's also an opportunity to ask the auctioneer about the materials and date of manufacture of certain pieces of furniture, and to find out more about their history. This can prevent you, for example, from confusing a period piece with a period piece. Prices can be as much as tenfold (especially if the name of a famous cabinetmaker is engraved on their banners)!
The long-awaited day has arrived! As soon as the sale begins, pay close attention and don't let your emotions get the better of you. The hammer price is the starting price. The auctioneer leads the sale, usually announcing successive amounts in increments of 50, 100, 1,000, and so on. If you wish to bid, make a clear sign (raise your hand, for example). If you are bidding for a specific amount, announce it clearly. As soon as the hammer falls and the auctioneer pronounces the word "adjugé": this means that the item has found a buyer. If you were the last to bid, the item is yours. All you have to do is pay!
To be able to buy...
Please note that you must be of legal age, responsible and solvent, of course, to bid and buy!
What happens next?
To pay, you need to make yourself known after the auction (legally, that's what it's called), by going to the collection station. You will be given an invoice called the "bordereau d'adjudication". It mentions the number of the lot purchased, its characteristics, its references and its price. Once you've paid your invoice, you can pick up your lot. Please note that in addition to the auction price, you will have to pay a tax. Auction amounts do not include "buyer's costs" and are expressed exclusive of tax. These costs are proportional and correspond to the sales operator's remuneration (they are planned in advance and mentioned in the sale requisition). Other ancillary costs may be added to the invoice, if you have the item delivered or if you are late in collecting it (storage costs, for example). In addition to the auction fee, the buyer must pay a proportional share of the hammer price, which is free but non-negotiable. They are generally between 15% and 25% of the hammer price. As with any sale, it is essential to consult the general conditions of sale (GCS), as they vary from one auction house to another. These fees are explained verbally before the auction begins. So there should be no surprises!
Auctions are paid for in cash by any means of payment: cheque, (at the time of the auction, the buyer is asked for his name and a blank cheque in exchange for a ticket that will enable him to collect the item once his payment has been validated), bank card, cheque or money order. ), bank card, cashier's cheque for larger amounts and/or when the buyer is unknown (this is customary for vehicle sales, for example) and cash up to 3,000 euros. The law stipulates that the seller must always be paid within two months of the sale, but this period may be contractually shorter. It is advisable to check this condition beforehand.
Don't get carried away!
Set yourself a limit: how high are you prepared to go? Because some bids can be quite high, it's possible to pay too much for a work of art. Auctions should remain a way of getting a good deal... don't lose sight of that!
Stéphanie SWIKLINSKY