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The first time I bought anything from an auction house, I was a young dealer<\/a> of about 23 and I bought a load of industrial lights and book trolleys from the local library. I had my old Beetle outside and I had to go through this corridor of older dealers all laughing their heads off at me as I loaded this stuff (that I had bought for next-to-nothing) into the back of my car. I said, \u2018Laugh it up boys, you\u2019ll all be buying this stuff in 20 years\u2019 time.\u2019 Thankfully, my words have come true.<\/p>\n These days, I only buy from auction sporadically, when I see something that really catches my eye. But every Sunday night I trawl through every auction catalogue of sales across the country. If there\u2019s anything I like, I ask the auction house for a condition report, more information and pictures. From that, I narrow down what might be of interest. I have mates scattered across the country who can go and look at an item for me \u2013 and I do the same for them around the North West. If everything checks out I book a phone line for the auction. If you bid online<\/a> and your internet connection goes for a minute, you can lose out. Saying that, there is no substitute for the atmosphere of the auction room.<\/p>\n You might also like<\/strong> a beginners guide to buying at auction<\/a><\/p>\n I love the excitement and the noise of an auction and seeing what happens when dealers go up against each other. But more than that, I love it when a \u2018sleeper\u2019 comes up. A sleeper is something unexpected that turns up at a general auction and makes huge money. I once saw an oriental vase that had been buried in a box of junk reach \u00a350,000.<\/p>\n Usually before an auction I will write the price I am prepared to pay for an item on a piece of paper in front of me and then I stick to that price, no matter what. That is my golden rule, although I did break it a couple of years ago\u2026<\/p>\n I was at a well publicised country house sale with a mate of mine who I do a lot of business with. We\u2019d had a bit of a night with a few drinks the evening before, then during the day they were giving out champagne. Now, the lot I really wanted wasn\u2019t due to come up until 5.30pm and we really got into the spirit of the day!<\/p>\n The energy was great, there were some fantastic pieces to see going through the auction room and I\u2019d chatted to loads of dealers I\u2019d bumped into there. Everyone was having a great time. At last my lot came up. It was a magnificent Irish cast-iron desk with a steel-and-mahogany top. It had been painted black and the paint had rubbed off, giving it a wonderful patina<\/a>. It was a major piece that took three blokes to lift.<\/p>\n You might also like<\/strong> Jay Blades on his best auction find<\/a><\/p>\n The bidding started and I let someone else have the first call, then I put in a big, strong bid \u2013 to clear the room of any messers. I sat back and let the bids roll before naming my final price. I got swept away with the atmosphere. But that day, determined to win the desk, I forgot all about the piece of paper with my top price marked on it!<\/p>\n I ended up winning it and paying \u00a32,500. It was a magnificent piece but it needed a huge amount of restoration \u2013 about \u00a32,000 worth. I had overpaid, but we did the work and I put it on at \u00a35,500 to get my money back. I sold it to Paramount Studios in California to one of their executives.<\/p>\n It all worked out, but it could have been an expensive mistake. To help you get the most out of the salesroom, take a look below for my top tips for buying success at auction.<\/p>\n How I got into the antiques trade<\/a><\/p>\n Drew Pritchard\u2019s sofa collection with Barker and Stonehouse<\/a><\/p>\n Drew Pritchard on his book, favourite antiques and upcoming ventures<\/a><\/p>\n Why patina is king<\/a><\/p>\n How to create country house style<\/a><\/p>\n How to be a successful antiques dealer<\/a><\/p>\n Why I love industrial design<\/a><\/p>\n The antique that got away<\/a><\/p>\nDrew\u2019s tips for buying antiques at auction<\/h2>\n
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