Know the rules of auction

Press, 6 October 1987, Page 12

Know the rules of auction

One of the most interesting and exciting ways of adding to a collection is to attend ar auction sale and try youi luck. An even better idea is to frequent all the sales and perfect your technique. I am sure there is quite a lot to be learned about just when to enter the bidding, and when it is wise to bow out. The first recorded auction seems to have been one noted by the Greek historian, Herodotus. It was held in the fifth century 8.C., and the “lots” were young girls destined to be brides. It is probable, though, that since the dawn of human history any two people wishing to acquire something owned by a third would have made

competitive offers. Auctions were certainly common in Roman times, the word itself being derived from a Latin verb "auctio” — to increase. Troops laden with the spoils of battle would often thrust a spear into the ground to indicate a sale and dispose of surplus booty to the highest bidder among their less fortunate companions. Once, during the first century A.D. the Empire itself was sold at auction by the praetorian guard, who later had second thoughts and killed the successful bidder who had enjoyed his power for only a few weeks. Such extreme disaster is not likely to occur today, but disappointment and perhaps financial em-

barrassment could follow if prior inspection and sensible consideration are neglected. There are a number of well known and reliable,

old established firms of auctioneers in Christchurch, and others more recently established but equally reputable. All are required to be licensed. Sales are advertised, lots catalogued, and arrangements are made for pre-viewing. Though the auctioneer will usually point out any fault or other deficiency in a piece offered if it is known to him, it should be remembered that the onus is on the buyer to decide whether the article is in good' condition and is, in fact, as described in the catalogue. Almost anything can be bought at auction, from red deer to real estate and everything in between. House sales, usually held when a family is moving or giving up house-keeping, are always interesting and usually rewarding. It is amazing how many things there are that you did not even know you wanted, and a collector will almost certainly' find some worthwhile addition.

Most interesting for collectors are the large sales of fine art and antiques, or those offering special categories — toys, sporting bygones, local historic articles, or silver. 1 For those interested in early paintings, prints, lithographs and books relating to our own part of the world and its history there is a most important auction being held today. It is at Watson’s Auction Rooms, and begins at 12 noon.