Buying from an Auction

[pomo_juice]

Hello,

I’ve been eyeing some lots from Bonhams recently and was wondering if anyone had any experiences/tips buying at auctions (specially online auctions)?

AFAIK, for Bonhams, the final price you pay if you win is the hammer price + the premium + shipping (unless you pick up in person)? Are there any other hidden fees I should be aware of?

Additionally, can you request more pics/videos of the lot by contacting the representative the auction house listed for the sale?

Do you have any recourse if by some chance the item the auction house sold to you is inauthentic/grossly misrepresented? Ie., a Cartier bracelet turns out to be a replica, diamond ct is super off, natural gemstone turns out to be synthetic (a lot of their gemstone jewelry is sold without lab certificates for some reason).

Thanks so much for your help and advice in advance

 

[Soseattle]

It would be a good idea to check the terms and conditions of the auction house for answers to some of your questions. Auction house policies can differ between auction houses. Sales tax can also be additional. As far as recourse for misrepresentation, many auction house sales are "as is" and leave it up to the buyer to determine authenticity. Again, check the auction house terms and conditions. Buying at auction is generally a bit riskier for those who are new to purchasing the types of items being sold. You can always ask for additional information about the lot, but it is up to the auction house to decide to provide or not.

 

[Mrsz1ppy]

You ask for a condition report if you want
More information, but ask early! It is very much buyer beware.

 

[Bron357]

I have been buying via auction for decades.
With Auctions it’s “buyer beware”.
Fees for buyers include buyers commission, on line bidding can also attract a fee depending on who is hosting the access and payment by credit card will also attract a surcharge depending on card. Most auction houses don’t offer shipping but if they do it’s at your expense and risk.
You can ask for a condition report but they will not supply additional photos. It is therefore recommended to view in person to assess things like wear, scratches, bent prongs, loose gems etc etc.
Gems are either described as per any accompanying valuation/ report or without specific designation of being natural, treated or lab grown and the auction house also doesn’t warrant that the valuation or report is true and valid. It’s supplied “in good faith” but the auction house hasn’t inspected or verified its accuracy. Technically gems could have been replaced or damaged after report creation so they therefore make no guarantees.
Likewise with branded jewellery. They will note that it says Cartier, its says 750, it is a ring size 7.25 but they don’t verify authenticity, it’s offered in good faith without guarantee.
Also once the hammer falls the lot is yours and your responsibility. You can’t change your mind and you must pay and pick up within a few days or you can get charged storage fees.

 

[lovetodream]

I have been buying via auction for decades.
With Auctions it’s “buyer beware”.
Fees for buyers include buyers commission, on line bidding can also attract a fee depending on who is hosting the access and payment by credit card will also attract a surcharge depending on card. Most auction houses don’t offer shipping but if they do it’s at your expense and risk.
You can ask for a condition report but they will not supply additional photos. It is therefore recommended to view in person to assess things like wear, scratches, bent prongs, loose gems etc etc.
Gems are either described as per any accompanying valuation/ report or without specific designation of being natural, treated or lab grown and the auction house also doesn’t warrant that the valuation or report is true and valid. It’s supplied “in good faith” but the auction house hasn’t inspected or verified its accuracy. Technically gems could have been replaced or damaged after report creation so they therefore make no guarantees.
Likewise with branded jewellery. They will note that it says Cartier, its says 750, it is a ring size 7.25 but they don’t verify authenticity, it’s offered in good faith without guarantee.
Also once the hammer falls the lot is yours and your responsibility. You can’t change your mind and you must pay and pick up within a few days or you can get charged storage fees.

Do you buy jewelry from auctions or other things? I’ve bought antiques but have have been scared to jump into gems. Would love to, though, if you have recommendations for online houses to watch!

 

[lulu_ma]

Sadly, sales tax is charged by all U.S. auction houses for items shipped within the country.