Buying Online Antique Auctions

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Online Antique Auctions are becoming an increasingly popular method of selling antiques. The bidding and preview period are both the same, but the buyer can bid on items from the comfort of their own home. The increasing popularity of websites like eBay may help drive an increase in these types of auctions. However, there are many things to keep in mind when you’re shopping online for antiques.

First, you must know how the auction process works. Most antique auctions follow an English auction model. During this type of auction, the auctioneer begins at a lower price than the final estimate. The auctioneer then gradually raises the price by a fixed interval. Each time a price is raised, the bidder must indicate how much they are willing to pay. Once the auctioneer reaches the desired price, the winning bidder is announced. The process is transparent.

Another factor to consider is the buyer’s premium. Generally, auction houses charge buyers a fee that ranges from 15 to 30 percent of the final price. Although this fee may seem high, it’s actually a relatively low percentage when compared to a traditional auction house. Furthermore, many online auctions do not disclose this cost, making the process a better option for those who’re on a budget.

Some of these auctions are focused, attracting the attention of more sophisticated collectors. For example, a rare World War II German officer’s tunic recently sold for $7,500. This amount is the highest bid in the auction’s history, but it is important to remember that all military insignia are similar, so you should be selective in your purchases.

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