Watching The Auction: Part Two Collector Chats
By Peter Seibert - February 09, 2024
Last column, I was in the midst of watching an online auction while also talking about the debate of whether there needs to be an in-person auction going on while the virtual one is occurring. I have friends in auction houses on both sides of that debate. Some argue that old school sellers want to see an in-person sale. Others argue that the labor to set up for three people showing up is not worth the trouble. It is a hard call. I remember when we went to an auction just after returning from living out West. Kim and I were shocked that there were only seven people in the room, and I was not sure if three of them were actually alive. Moreover, 95 percent of the auction lots sold! So there is a pragmatic part of me that acknowledges that solely in-person sales are no longer the way to go in a busy world. And yet, I also hear stories that trade dealers hate online sales. They would often go to an auction to wait in the background for the lot that popped up that no one wanted. They would then swoop in and grab it. This kind of auction picking does not work so well in an online setting where there are buyers from around the world watching and bidding at the sale. The antiques trade has always been a significant part of the auction world. Historically, in fact, they were the number one buyers at sales and auctioneers frequently built their sales around the interests of the trade. Then the big boys in New York started to spend time on retail clients and the trickle-down effect began. Soon, auction houses were focusing on the collector market. This was not always uniform, as the trade knew there were certain houses that still put together big lots of stuff to sell that were geared toward the dealers. But then the market got jittery around pooling. That is a topic for another column. Suffice to say, the auction houses today not only recognize the importance of the collector, but arguably the smart ones have now acknowledged the role of the international buyer. The market is no longer just 20 miles from the auction house, but around the world. The smart auctioneers are the ones who realize that and make provisions for overseas buyers. They also are the ones who, through lots of messes, also acknowledge that being a crook is not geographically restricted. Rare would be the auctioneer who has not been stung by a bad overseas buyer. Today, the world has changed, and while the in-person sales will remain a tool used by many auction houses, the virtual sale is the new dominant force. For those who swear by one or the other, I would offer the observation that the world is changing fast, and who knows what the next new trend will be. Perhaps it will all occur through an implanted antiques computer chip in the brain. Born to collect should be the motto of Peter Seiberts family. Raised in Central Pennsylvania, Seibert has been collecting and writing about antiques for more than three decades. By day, he is a museum director and has worked in Pennsylvania, Wyoming, Virginia and New Mexico. In addition, he advises and consults with auction houses throughout the Mid-Atlantic region, particularly about American furniture and decorative arts. Seiberts writings include books on photography, American fraternal societies and paintings. He and his family are restoring a 1905 arts and crafts house filled with years worth of antique treasures found in shops, co-ops and at auctions.
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