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Buying from an Auction

pomo_juice

Rough_Rock
Joined
Nov 17, 2022
Messages
14
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 :mrgreen2:
 
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.
 
You ask for a condition report if you want
More information, but ask early! It is very much buyer beware.
 
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.
 
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!
 
Sadly, sales tax is charged by all U.S. auction houses for items shipped within the country.
 
I purchased my Tiffany dragonfly brooch from Rago Auctions (Lambertville, NJ) several years ago. It was super easy and I'm completely happy with my purchase. I live far away so I participated completely online. I watched online live as the auction was taking place and placed my bids live. It was a fun adrenaline rush!

IMG_2902.jpg
 
I'd love to browse the auctions but the buyer's premiums are ridiculous.
 
I have tons of experience buying on eBay but none with major auction houses , except for a few pieces of furniture. You always have to arrange your own shipping, quite a task, and IDK how small item ( jewelry) shipping is handled at the high end auction houses . I was watching (ok, stalking) an auction that had my dream Butterfly ring…y’all know which one! I didn’t bid because I never dreamed that lot ( 2 rings) would sell for so little. I wasn’t sure about the shipping charges and ,after all the buyer’s premiums are added in , plus the possibility of having to drive to Dallas and pick them up, I just lost my nerve. I just find the whole on line auction house experience to be very daunting…not for the faint of heart or the inexperienced.
Having said all that, they do have beautiful pieces that you will probably never find on eBay. Good luck!
 
For Heritage, my total cost was final bid price + premium + tax + shipping, but I still paid under market value for everything I won. For reference, Heritage automatically shipped everything to me around a week and a half or so after I won - there was no need to pick my items up in person or arrange for shipping myself. They didn’t include ring boxes, but my three settings were packaged securely in individual, labeled plastic baggies placed inside soft packaging, packed inside a hard box. They also sent a cool little collectors’ guide booklet for additional funsies. :)
 
For Heritage, my total cost was final bid price + premium + tax + shipping, but I still paid under market value for everything I won. For reference, Heritage automatically shipped everything to me around a week and a half or so after I won - there was no need to pick my items up in person or arrange for shipping myself. They didn’t include ring boxes, but my three settings were packaged securely in individual, labeled plastic baggies placed inside soft packaging, packed inside a hard box. They also sent a cool little collectors’ guide booklet for additional funsies. :)

This was my exact experience with Christie’s. Jewelry is easy to ship for those in the business. If you don’t like buyer’s premiums, try EBTH or Shop Goodwill auctions. No BP, but they also refuse to combine shipping. Still, less than a BP. I find descriptions and pictures on EBTH to be very accurate, and everything I have bought from them checks out with labs.
 
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