How to Maximise Value When Selling Antiques at Auction

Selling antiques at auction can be an incredibly rewarding experience and a great way to unlock the value of treasured possessions, or those you have purchased but no longer need or want. Making sure you get the most out of the auction selling experience and maximising the value of your antique requires research and careful preparation. From understanding market trends to choosing the right auction house and presenting your items attractively, every step plays a role in ensuring you achieve the best possible outcome.

In this post, we cover the key steps in selling at auction, from receiving an accurate valuation to understanding your role on auction day. We outline typical seller fees, like commission and insurance, so you can gauge any potential profits from the items you are listing. You'll also find tips on preparing your antique; such as cleaning and restoration, and the importance of setting a realistic reserve to attract buyers and secure the best price.

Accurate Antique Valuation

When selling antiques and pieces at auction, taking the time to receive an accurate valuation is key as it gives you a clear understanding of what your antiques are worth and so you can set a realistic reserve and asking price as a result. However, without a proper valuation, you risk under (or over) valuing your items and potentially missing out on selling them and maximising their value, or not selling it at all due to the inaccurate valuation and deterring potential buyers.

Professional antique valuers like those at Hutchinson Scott consider factors such as age, rarity and condition of your item, as well as market trends, which are all elements that can impact the value and selling capability of your item. A professional valuation will give you expert insight and peace of mind that your item has been valued accurately. An accurate valuation is not just about understanding the true value of your item, it is also there to help you set a suitable reserve price which is all about protecting your antique from being sold for less than its worth.

At Hutchinson Scott we offer a free online valuation service. It couldn’t be easier; simply upload an image of the antique and send any information you would like included in the listing and we will get back to you as soon as we can with a valuation. Additonally, a specialist can also visit your property, free of charge to value larger items and or collections of items.  

Auction Fees

An essential part of selling at auction is understanding auction fees, as this fundamentally has an impact on how much profit you make. At all auction houses there is a sellers fee. At Hutchinson Scott this is 10% of the hammer price plus VAT. This seller fee covers the auction house's services for selling your items, including marketing, administration, and the actual auction.

In addition to the seller fee, there is also an insurance fee. This varies from auction to auction but at Hutchinson Scott it is 1% insurance charge. The insurance fee is applied to cover the item while it's in the auction house's possession. It is important to contact the auction house and ascertain what charges there are, so you are fully informed from the beginning, and you can accurately calculate your potential profit. 

Finally it is important to mention that if your item doesn’t sell, you won’t incur these fees. We would recommend finding out this information at the auction house you are selling through, prior to agreeing to sell your item with them; so, to not incur unexpected costs.

Preparing your Antique for Sale

Making sure that your item is prepared for the auction is key to maximising the value, and ensure it is sold for the highest possible amount at auction. Part of this preparation involves cleaning and restoring your item if necessary. We know that cleaning anything improves its appearance but over cleaning or cleaning with the wrong products and improper methods can have a detrimental effect on the item, damaging original features and therefore potentially reducing its value. 

At Hutchinson Scott we recommend seeking professional advice before cleaning your item. This can be done on line or please contact our team, and we will happily discuss your item with you and what we recommend. If your item is old or delicate and needs antique restoration, this can sometimes increase its worth, as well as making sure it looks its very best for auction, but if the restoration isn’t done right then this may cause damage to the item, devalue it or even detract from its authenticity.

Just like seeking guidance on cleaning your item, we recommend you consult with experts to understand whether a full restoration is necessary. For both cleaning and restoration, research, guidance and proper preparation, combined with expert guidance, will make sure that your antique is the best it can possibly be, maximising your chances of a successful and profitable sale.

Realistic Reserve Price

The reserve is the minimum price you are willing to accept to sell your piece for. Setting a realistic reserve price is about attracting interest for your item and also making sure that you sell your item for its true value. Setting a reserve too high means that you are at risk of deterring potential bidders and not gaining any interest or selling your item. 

It is important that you contact the auction house you wish to sell through as they are experts and can assess current market trends and interest levels as well as your item's condition; all to determine an appropriate reserve. At Hutchinson Scott we believe in a fair and achievable reserve as this will create interest, encourage bidding, and ultimately maximise the sale potential of your item.

Sell Your Item with Hutchinson Scott

If you’re looking to sell your antique and maximise its value, then preparation is key. Accurate valuations, understanding seller fees, cleaning and restoring your item and setting a realistic reserve are all elements that we know will help you maximise value and achieve the best possible return. Hutchinson Scott are a trusted name in the auction world and over the years they we have built up a reputation for their expertise and knowledge. We are here to guide you through selling your antiques and to make sure that you have the right information to navigate the process from start to finish. Please call 01756 798333 for more information.