Don’t let them tell you there’s not money out there!

[siddieswans]

On a weekend where you could attend 4 separate auction house sales in Sydney, it was again proved to me that if you present quality items, preferably fresh to the market, you can achieve good results, no matter how tough the environment.

My usual monthly auction had on Sunday items from several large estates, including an amazing array of old books and magazines, some very nice antique jewellery, a large collection of quality pre-owned fine jewellery and watches, and quality antique items in ceramics, furniture and miscellany. A packed auction room saw solid prices achieved in ceramics and furniture, the quality antique jewellery pieces fetched high prices, as did the quality fine jewellery. The collections of antique and vintage books, magazines and catalogues  (both in single lots and quantity offerings) produced very spirited bidding, and some amazing results.

I didn’t attend the auction for the “outstanding & eclectic collection of over 600 lots, all to be sold at auctioneer's discretion.” But looking at the results posted on-line this morning, it would appear all lots were sold. I would assume that collectables like these are hard to value, so the estimates were quite wide. Not many items failed to reach lower estimate, of those which exceeded the upper estimate, many did so by a substantial margin.

I don’t know how the other 2 auctions went, but when 2 suburban auction houses can achieve results like this, on the same day in Sydney, it goes to prove the old adage, that if you offer the right goods, there will always be buyers.

[bsal6160]

You may well be right siddie, however, you also need to put it into context that the buyer can see/feel/handle ALL the items they intend to bid on before bidding and that all bidders are in one location at one time. Quality will always sell even better when there is no chance of not getting what you paid for.

[siddieswans]

You seem to be suggesting that I was comparing a B&M auction result to prices achieved on eBay. That was not my intention; I was merely commenting about very strong prices that were achieved in an economic situation that many would regard as straitened.

[bsal6160]

No i was not implying that. Just stating that a buyer will always pay more for a quality item regardless of the current financial climate when they can feel / touch etc the item in question

[siddieswans]

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@bsal6160 wrote:

No i was not implying that. Just stating that a buyer will always pay more for a quality item regardless of the current financial climate when they can feel / touch etc the item in question

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Apparently this is not always the case. If you go back another Sunday, to the auction sale by another Sydney auctioneer, where "Record Australian prices were achieved for Chinese Huang Huali & Ironwood timber furniture", several of the top priced pieces of this furniture went to buyers in China, who had not touched or felt or even seen the items in person; they were relying on the website photos and the auctioneers description.

Internet bidding at B & M auctions these days is quite spirited, and a proportion of these buyers would be people for whom physically handling the items would be impossible.

It would seem that if you have valuable (or potentially valuable) Chinese items that you would like to sell - ceramics, furniture, jewellery, silver, art works, reference books, even old auction catalogues, now is the time to send them to a reputable local dealer, preferably one who has a track record with Oriental items. Catch the new money from China while it is hot.

[bsal6160]

 But remember, many of those 'New rich" would have had someone in Aust verify the validity of the item as well. It might also point to trust in a reputable dealer not just some Joe Blow on the internet trying to flog off some supposed antique.