How to Maximise your Selling Success

Selling items at an auction house can be exciting as well as profitable but achieving the best possible result requires more than just showing up on auction day with your items. 

It doesn’t matter if you are selling fine art, antiques, collectibles, or unique treasures that have been hidden away in your loft for years, taking the time to understand the differences and unique ways of the auction process and house that you choose to sell through will significantly impact your success. From finding the right auction house, to obtaining a truthful valuation and setting realistic expectations on what your item could sell, every decision matters and can impact your end goal.

In this blog, we guide you through the essential steps to take to maximise your success when selling at an auction. We will discuss how to obtain a strong valuation, explore restoration options, if necessary, and setting a realistic reserve that will encourage competitive bidding. With the expert guidance of our team, you can make your auction experiences rewarding and secure the best value for your items.

What Does Success Mean to You?

Success, when you are selling an item at an auction is about achieving the best possible outcome for your items. To achieve this, it must start with an accurate valuation, so you fully understand the true worth of your item. Taking the time to restore your item if needed can significantly improve an appearance, appeal and increase its value. Setting a realistic reserve protects your interests and items whilst encouraging competition and people making bids.  

It is important to acknowledge that success can mean different things to different people and it doesn’t always have to be about the money you make from the sale of your item. For some, it may be about finding the right trusted auction house to use on this occasion and also for future items, for others it may be about finding the right buyer for your piece so you have the peace of mind you need that it is going to a great home, or it may be about your item reaching its full potential and you receiving the maximum amount for it. The key is achieving the best outcome based on your own goals and expectations.

The Importance of Valuations

Valuations can sometimes be missed or not thought about at all, but the truth is that valuations are the foundation to a successful auction sale as they offer a clear understanding of an item’s worth. It really doesn’t matter what the item is that you are intending to sell, a professional valuation offers you an informed estimate of an item’s market value based on its current condition, uniqueness, and demand.

For someone who is wishing to sell an item at auction, accurate valuations are essential for setting reserves, which act as the minimum acceptable bid. An item that is valued too high will easily deter bidders from taking the time to explore and look at the item, whilst undervaluing an item could mean losing out on potential buyers due to a lack of perceived value, which can lead to lower bids and therefore you not maximising success and profit. 

Here at Hutchinson Scott, we understand that a thorough valuation attracts serious buyers as it gives them confidence that you are taking the process seriously and that your item is legitimate and worth what it has been valued at. That is why we offer a free professional valuation service that is conducted by experts who have extensive industry knowledge. 

Restoration

Taking the time to understand if your item needs to be restored and actually restoring an item before you sell it at auction can significantly improve how others view your item, its appeal and also how much it is valued at and therefore how much you could sell it for. Careful restoration is about enhancing appearance and protecting and preserving your items original charm whilst correcting any damage there may be. An item that has been restored not only attracts more attention from buyers but can also result in higher bids. We recommend you consult with a restoration expert if you think your item needs restoring so that they can see if it is necessary and to make sure that the work is done professionally. 

Setting Realistic Reserves

Setting a realistic reserve is one of the main critical elements to a successful sale at auction.  The reserve is the minimum acceptable bid that you will accept and is there to protect your item’s value whilst encouraging potential buyers to bid.  If you set the reserve too high you are at risk of deterring interest, whereas if you set a reserve too low you are at risk of undervaluing your item. Hutchinson Scott recommends that you base your reserve on an accurate valuation and therefore striking that perfect balance between maximising your success, understanding the market demand and making sure that your item achieves its best possible result at auction.

Sell Your Item Through Hutchinson Scott 

Are you looking for a reputable and trusted auction house? If the answer is yes, then look no further than Hutchinson Scott. We offer a trusted and professional selling service that includes accurate valuations, setting realistic reserves and guiding you through the selling process from start to finish, maximising value and achieving the best possible return. Hutchinson Scott are a trusted name in the auction world and have years of experience and knowledge. The team is here to help you so please call them on 01756 798333. We look forward to hearing from you.