Buying at auction Buying at auction (January 23, 2004)

It's a risk, but you can find unusual furnishings at terrific prices

By Kit Davey

If you're looking for a wide range of unusual home furnishings at great prices, try buying at auction.

Auction houses sell items to the highest bidder at regularly scheduled sales in their auction galleries. The items on sale typically come from estates, public administrator's offices and police departments. Other items may be supplied by private individuals wanting the anonymity and high exposure offered by auction sales.

There are many advantages to buying at auction.

* The variety of items for sale is dizzying and all the stuff is in one place. Anything for the home, from kitchenware to gardening tools, is up for grabs. When auction houses sell unclaimed property for the county police, you'll find bedroom furniture, artwork, stereos, television sets or anything else burglars like to carry off. Items on sale from an estate often include rare antiques and unusual collections. They occasionally get one-of-a-kind, custom pieces from model homes and designers.

* In most cases the property is fresh to the market. Some estate collections have been lovingly gathered over many years and may not have hit the market for decades or may never have been offered for sale.

* There's no parking fee or admission charge. The public is invited and you don't have to have a resale number or be a dealer to buy.

* You can preview all the offerings the day before the sale. You have plenty of time to check the authenticity of items that catch your eye. Bidders are encouraged to inspect what they're interested in very carefully. The auction houses will let you plug things in to check if they work.

* You're on the same playing field as all other buyers. There are no early-bird sales at auctions. When the items you like come up, the only obstacle to your owning it is your pocketbook.

* You can get great deals. And you may luck out with a hidden treasure. I heard of one woman who bought a quilt for $20 and later sold it for $800; another man bought a box lot for a few dollars and there was a Rolex watch buried in it!

* You'll have fun. Auctioneers have unique styles, and many are very amusing. Watching the parade of paraphernalia, the bidding wars and the auction attendees can be very entertaining.

What happens at an auction?

Most auction houses have weekly or twice-monthly sales. The public is invited to preview the sale items the day before. Previewing is highly recommended, as all sales are "as is and final." If you buy a television set for $150 and it doesn't work, that's tough -- no returns! An illustrated catalog or list of lot numbers and property to be sold is sometimes available for sale during the preview. Items may be sold individually or in box "lots" or batches of similar items.

On the day of the auction, the doors open an hour or so before the sale starts for final previewing. Bidders register for bidder numbers and find a seat in the hall. When the sale begins the auctioneer may open the bidding with a "reserve," the minimum price the seller must receive or with what she considers to be a fair starting price. If there is no audience response, she lowers the bid until someone responds with a raised number, indicating the bid is acceptable. Bidding continues until no higher offers are made.

A "buyer's premium" of between 10 and 15 percent is added on to the final sale price and sales tax is collected as well. Payment is expected the day of or the day after the sale. You can take home your treasures when the sale is over or the next day. Delivery can be arranged and normally costs between $50 to $200, depending on how many movers are needed and the location of your home.

First-timers need to carefully preview potential purchases so they know what they're getting and to bid only on items they know they want. It's also a good idea to set a price range for those items in advance and remember to factor in the buyer's premium and sales tax before bidding. But be careful! I've seen too many people get carried away in the excitement of it all and end up with a pile of stuff they don't really want.

Kit Davey is a Redwood City-based interior designer who redecorates using what you already own. You can call her at 367-7370, e-mail her at KitDavey@aol.com, or visit her Web site at AFreshLook.net.

Local Auctioneers:

* Cuschieri's Auctioneers and Appraisers, 849 Main St., Redwood City; 368-2001

* Butterfield's Auctioneers & Appraisers, 220 San Bruno Ave., San Francisco; (415) 861-7500

* Clar's Auction Gallery, 5644 Telegraph Ave., Oakland; (888) 339-7600

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