- Daily & Weekly newsletters
- Buy & download The Bulletin
- Comment on our articles
Buying at auction
Many people think of auction houses as exclusive places frequented by certain well-heeled crowds. The prospect of buying an antique or a painting at auction can therefore seem daunting. It needn’t be. Here we demystify the ritual, providing you with the essentials of what you need to do before, during and after an auction and a list of top tips to help you avoid some of the common pitfalls. Armed with this information, you should be all set to hit the auction houses – Brussels has many – and make that winning bid.
Be prepared
Auction sales happen very quickly, so the better prepared you are in advance, the more likely it is that things will go smoothly on the day. Check the auctioneer’s website and familiarise yourself with their way of operating, starting with the terms and conditions of sale. Commission rates, for example, usually range from 20 to 25 percent. Some of Brussels higher-end auction houses, such as Hôtel de Ventes Horta, offer a virtual visit to the showrooms online, so you know what to expect when you arrive.
Make your choices
Most auction houses have sales catalogues available online. If there’s something that catches your eye, it’s strongly advisable to go along to the public showing, which usually takes place the week before or a day or two before the auction. Experts are on hand to answer questions and provide additional information about individual objects in the sale. With the catalogue consulted and the collection visited, all you now have to do is decide what you’ll bid for and the maximum price you’ll pay.
On the day
One of the most striking things about an auction is the speed at which everything happens. From the moment the auctioneer announces the opening price until he bangs down the hammer on the final bid and moves on to the next item can be a matter of just a few minutes. Be aware that prices usually start at a minimum price and move up, but they can also begin by going down in price until an initial bidder is found and only then start moving back up.
Bidding methods
The most enjoyable (and arguably the most reliable) way to bid is in person, but there are other methods. You can submit a written order with a maximum price and authorise the auctioneer to handle it on your behalf. You can also bid live by telephone, speaking to an agent who is in the room. This option is often used by those who don’t want to reveal their identity. At some auction houses, you can also bid live online.
After the hammer strikes
If the hammer goes down and the purchase is yours, then as soon as your pulse has dropped back down to a steady rate, you need to sort out payment and delivery. Cash is usually accepted for small amounts; for larger amounts, credit cards or bank transfers are used. Some auction houses permit you to take your purchase home there and then; others allow you to take possession the following day. Everything usually needs to be finalised within a week of the auction.
Something to sell?
You may be interested in auction houses because you have something to sell. Most provide free valuations, either at the auction house or by appointment at your home. Given that it is in both the auctioneer’s and the seller’s interests to get as high a price as possible, this can often be a good route to take. Just remember to check the commission rates carefully.
SELECTED BRUSSELS ADDRESSES
HÔTEL DE VENTES HORTA
VANDERKINDERE AUCTIONEER
GALERIE MODERNE
PIERRE BERGÉ & ASSOCIÉS
ROMANTIC AGONY (BOOKS AND MAPS)
LES GALERIES MOLIÈRE
02.647.53.79 (no website)
The Royal Belgian-Luxembourg Chamber of Auction Houses provides a comprehensive list searchable by location
