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How does an auction work?

How does an auction work?


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Often impressive for novices, public sales are ultimately a good way to buy decorative items, paintings, sculptures ... very simply. In three steps, here's how to do it.

Before the auction

From the catalog of the sale that interests you or on interencheres.com, you can consult the many lots that are put up for sale. The simplest thing remains, on the eve of the sale, to go on site, to see all the lots put up for sale. You will be able to check the condition and make sure of your real interest in this awesome Art Deco vase that you had spotted! On this occasion, you will also get from the expert, the estimate of your vase and other useful information.

During the auction

When you raise - frankly - your hand, the auctioneer raises the auction in stages, depending on the value of the object: 10 or 20 euros for a trinket, 1,000 or 2,000 euros for a Picasso! If you want to bid for another amount, you just have to shout it out ... It's less discreet, but effective and very common. In case of absence during the sale, you can give the auctioneer a purchase order with the maximum amount of your bid ... and that's free! Finally, be aware that the auctioneer can withdraw an object from the sale: auction too low or reserve price imposed by the seller (the minimum required) not reached.

After the auction

Considered sold ! Are you the last bidder? Well done, the vase is for you! After the auction (the hammer blow!), A freight forwarder gives you a slip to collect your lot ... immediately or at the end of the sale. Do not forget to add to the amount to be paid the auction costs: about 15% of the price at which the object went. Finally, know that, unless the expert error (your vase is a fake!), You have no recourse, you bought your item "as is". Have a good sale! To read every week: The Hotel Drouot Gazette, on newsstands or www.drouot.com



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