All About Antiques and Auctions

Many of us have had "The Antique Fantasy." You know, the one where you pick up a painting at a garage sale for five dollars, only to find out it's a long lost Vincent Van Gogh sketch worth millions. Shows like HGTV's Antiques Road Show have only added to our fascination with items from the past. Each show is a miniature history lesson, with both expert valuations and compelling stories on the background of the items.

It's this brilliant combination of both the historical and the human that is the true appeal of antiques. Any given item serves as a miniature mirror of its era, reflecting the cultural and artistic sensibilities of its time. There is also the added element of a personal history attached to every item. I often find myself thinking about the item's previous owners, how long they owned it, and what was going on in their lives at the time.

As appealing as the history can be, it can also make many people uncomfortable. Buying an antique can feel like getting major repairs done on your car. There's always a certain amount of unease when you feel the person you're purchasing from knows far more than you do.

Rest assured that your knowledge of antiques does not need to be encyclopedic. With some basic homework and planning, you can acquire beautiful, high-quality items for your home without getting taken to the cleaners.

Shop Around

So where do you start? With the fun stuff of course: shopping! That's right. You have to start by going where the antiques are.

The general definition of an antique is an item that is at least 100 years old. In terms of purchasing, antiques are very much like real estate. Prices are driven by availability, condition and demand. You can look in home and décor magazines or start visiting local shops and markets and just observe.

After a few sessions of antique "surfing," you'll start to see patterns. You'll see items that are always available and can compare prices accordingly. You'll start to learn what items are always pricey (Moorcroft pottery is a perfect example), and what items it may pay to shop around on. You may also see a lot of one type of item and find it typically affordable. It may be something you want to consider collecting. Ten years from now, it may be hard to come by.

Buy What You Love

Antique buying allows you to indulge your fancy - that's the whole point! What you love is a good indicator of what to focus on.

You'll quickly notice that antique dealers also tend to specialize. They sell furniture and home wares, or china and figurines, or jewelry and textiles. Or they'll focus on a variety of items from a particular era, such as Victorian, or a specific locale such as Europe or Asia. You'll rarely come across a dealer who sells a bit of everything and if you do, their shop is one where the overall quality of the items may be questionable.

Think about what you love and become your own specialist. As your knowledge expands, you can then start looking into other antiques in more detail.

Hit the Books

Once you've been shopping around and figured out what you're interested in collecting, you can start researching.

It's easier to focus on one thing at a time. If pottery or china is an interest, you can pick up a book on markings or visit your local reference library. If you're interested in furniture, you can hone in on researching the style of furnishings you really like, be it rustic Canadiana or stately Georgian.

During this research process, your shopping expeditions will come back to you. You'll recognize items in your books that you've seen in person. You'll also have the context of the price recommendation in your guide versus what it was actually selling for.

Through the continual process of specializing, shopping around and researching you'll begin to recognize a bargain or know when to walk away. It is this process that will allow your knowledge of antiques to expand.

What's the Deal?

Which brings us to dealers themselves. They are your greatest resource; so don't be afraid to ask questions. For many dealers, the antiques they sell are not just a business venture they are passion. Any shop owner should be happy to spend some time with you to discuss their pieces in detail. They'll know the basics of their stock off the top of their head. So even if it's busy, they can give you a 20-second history of an item.

Be Practical

As with most things, practicality is important when it comes to antiques. If you live in a 400-square foot studio apt, a large ornate Victorian armoire is obviously not a great idea. If you currently have a toddler, this may not be the best time to start collecting china cups. Adjust your collecting to suit your current circumstances. Perhaps you can collect some Victorian prints for framing. Or focus on china plates that can be hung on walls. Get the cups and saucers later.

You should also take measurements of key areas and write them on a card that you can keep in your wallet. That way you won't be struggling to visualize if that gorgeous Persian rug you've stumbled across will fit in your living room. This is especially vital when it comes to furniture. Good quality antiques aren't cheap, and it will be heartbreaking to get an item home only to discover it doesn't fit the space you bought it for.

Place Your Bid

Where do dealers get antiques in the first place? On the auction block. A dealer may stumble across something at a yard sale or have a person come to them with an item to sell, but both instances are rare. Auctions, typically of estate items, are by far the primary source for antiques today since they can be purchased well below retail price.

Auctions are not a dealer only event. They are very much a public enterprise. If you're interested in attending auctions, there are a number of sources to find out when and where they'll be happening. Your newspaper is a good place to start.

You can also look up auctioneers in your local yellow pages. You can call them to be put on a mailing list that will notify you of upcoming auctions. At that time, you may also want to ask if there are any publications the auction house advertises in. Typically auctions are advertised in a province or city area paper.

Auctions typically consist of two components: the preview and the actual auction. If at all possible, you should make every effort to attend a preview.

The preview allows you to view items up close and inspect them. You can also measure them to make sure they would fit in a specific area of your home. It's a good idea to make a note of an item's number at this time. You should receive an info sheet listing item numbers and brief descriptions. It's amazing how different some items can look under display lights or you may be way at the back and barely able to see the item when it's being auctioned. The item number gives you the peace of mind to bid on your item knowing you have checked it out beforehand and that you are bidding on the right thing!

Arrive early on the day of the auction. This lets you get a good seat closer to the front and also gives you time to register as a bidder before the auction starts. Registering as a bidder requires you to pay a fee. You will then be issued a card with a number. This is the card you will hold up to place your bid, allowing the auctioneer to quickly identify purchasers and keep the bidding moving.

As a general rule it's a good idea to never accept the first bid the auctioneer presents. Remember, the auction house is out to make a profit, so it is in their interests to sell items for as high a price as possible. Let the bidder drop the opening price a couple of times before jumping in.

Prepare yourself for a long day, particularly if an item you're interested in is low down on the list. Wear comfortable clothing. You may want to bring a packed lunch, however, some auction houses will provide basic food such as hot dogs. Use the buddy system. One of you can always run out to get something while the other one saves seats.

The payback for making a day of it is that auctions can be a lot of fun and very dramatic, especially if an item is popular. There's nothing quiet like the excitement of a slow bidding process that quickly turns into frenzy.

This is a great process to watch, however, not to be wrapped up in. Don't get so caught up in the drama that you throw away your money. If you're interested in an item, set your maximum price and don't waver. The price you're willing to pay is determined by your own knowledge and your own interest in the item.

You may see a buffet, for example, that you're be willing to pay a lot for at auction because it's absolutely perfect and you haven't see another one elsewhere. No matter what your reasoning, set your price and stick to it. All too often, items get purchased at grossly inflated prices simply because someone had to win an auction at any cost.

By contrast, auctions also allow you to purchase items at incredibly low prices. It depends on what buyers are there to purchase. You may be able to pick up furniture for a song because most of the buyers are interested in the Royal Doulton pieces. You just never know.

Whether you purchase by auction or from a dealer, antiques should be something you buy first and foremost for pleasure. The beauty of antiques is that there is always something for everyone. With a small investment of your time, you'll be well equipped to start adding wonderful pieces that will enrich your home for years to come.