Auction Education Archives - Thomaston Auction

Have you ever wondered, "how do live auctions work?" or "how do I participate in a live auction near me?"

The Auction

For those who have never participated in a live auction, it can seem a bit overwhelming at first.

The fast-paced bidding, the auctioneer's chant, and the excitement of the competition might feel intimidating.

But fear not!

With a little preparation and understanding, you can confidently step into the world of live auctions and even walk away with some incredible finds.

What is a live auction? A live auction is an event where items are sold to the highest bidder in real-time. Participants gather, either in person or online, to place their bids on various lots—items or groups of items up for auction. An auctioneer facilitates the event, calling out bids and managing the flow of the auction. The auction progresses quickly, with bidders raising their paddles or clicking online to indicate their interest and bids. The highest bid at the fall of the auctioneer's hammer wins the item.

A lot of new auction participants wonder what do do if they can't attend the live auction on site. This is where phone and absentee bidding come in.

What is phone bidding? When phone bidding, a staff member will call just before your item is up, so you can bid in real-time through the staff member over the phone.

What is absentee bidding? Absentee bidding lets you place your maximum bid in advance, with an option for a +1 increment to outbid others if there's a tie at your highest bid.

Both methods ensure you can participate in the auction even if you can't attend in person. Of these two options, we recommend phone bidding. It gives you the best opportunity to be the highest bidder since you'll know in real time if you've been outbid and can decide if you want to bid higher.

This guide will walk you through everything you need to know about bidding at Thomaston Place Auction Galleries, from registration to winning strategies, so you can bid with confidence and success.

Four Options to Bid

    In-Person Bidding

    Visit our front desk to register. Fill out your contact information and receive a bid card with your paddle number for the auction.

    Phone Bidding

    Recommended for those who can't attend in person

    During the live auction, we will call you just before your item is up, allowing you to bid in real-time through one of our staff members acting as your agent. Download, complete, and return the registration form.

    Absentee Bidding

    Provide information on the lots you want to bid on and the highest bid you are willing to place. Indicate if you would like a +1, which allows the agent to go up to the next increment if there is a tie at your highest bid. Download, complete, and return the absentee bid form.

    • What is a Buyer's Premium and how much is it? The Buyer’s Premium is a fee paid by the buyer to the auction house, calculated as a percentage of the final bid price or “hammer price.” This is a standard practice among auction houses.
    • Thomaston Place takes pride in offering one of the lowest buyer's premiums among esteemed auction houses.
    • All bids placed through in-person, phone, or absentee bidding have a discounted 20% Buyer’s Premium, whereas online bids add an additional 5% to the Buyer's Premium to account for the added cost of the bidding platform. Therefore, we always encourage our guests to bid using in-person, phone, or absentee bidding.

    Online Bidding

    We offer the ThomastonLive app (Apple App Store, Google Play) and website for easy, convenient, and secure online bidding. You can place bids ahead of time or join the live-streamed auction on the appointed day to bid live.

    Create an Account for Online Bidding

    Visit our website to create a new account. Follow the steps to set up your account. We will process your registration within a few days and email you with your initial bid approval amount, which may appear on your profile as “Pending Bidder Approval.”

    Place a Bid

    Log in to your account, explore the auction, select the item you wish to bid on, click “Leave Bid,” and complete the bid details.

    Please note when registering to bid online

    • If you are a first-time bidder or plan to place high-value bids, you may need to provide additional information for approval. This process ensures the security and integrity of the auction. Approval amounts vary, and we will notify you of any required steps during the registration process.
    • All online bids have a 25% buyer's premium. The buyer pays this fee to the auction house, calculated as a percentage of the final bid price or "hammer price."
    • If you later decide to come into the gallery and bid in person, stop by the front desk to fill out an in-person registration form and receive a new paddle number connected to the discounted in-person 20% Buyers Premium.
    • Please be aware that if you place bid online and through our front desk on the same lot numbers, you may be bidding against yourself! Please decide one form of bidding for each lot that works best for you.

    Winning Bids and Payment

    If you are the highest bidder when the auctioneer's hammer falls, you will receive an invoice detailing the final bid amount, buyer’s premium, and applicable taxes. Provide payment in person, by mail, by wire transfer (required for invoices over $25,000), or online using our secure payment portal.

    Sales Tax

    Sales tax depends on how you receive your lot(s). We add a local Maine state sales tax of 5.5% for items picked up at the gallery. If you are shipping, we add the local sales tax associated with your shipping address instead. Tax exempt individuals should provide a copy of their Resale Certificate.

    Item Collection and Shipping

    Once you make the payment, schedule a time to pick up at our gallery. If you require shipping, email our Shipping Department. We offer professional packing and shipping services at the buyer's expense.

    Download Our App!

    Follow our auctions and bid anywhere using the ThomastonLive app. It's free, secure, and convenient.

    Download on Apple App Store or the Google Play Store.

    Tips to Win at a Live Auction

    • Do Your Homework: Research the items you’re interested in. Know their value, history, and condition. This will help you make informed decisions and set a realistic budget.

    • Set a Budget and Stick to It: Decide on the maximum amount you’re willing to spend on each item and stick to it. This prevents overspending in the heat of the moment.

    • Register Early: Ensure you complete your registration well in advance to avoid any last-minute issues. This applies to all forms of bidding—whether in-person, phone, absentee, or online.

    • Arrive Early: If bidding in person, arrive early to familiarize yourself with the auction environment and review the items on display. You can also reserve a seat by calling 207-354-8141.

    • Stay Calm and Focused: Auctions can be fast-paced and exhilarating. Stay calm, keep your emotions in check, and bid confidently.

    • Use Bid Increments Wisely: Understand the bidding increments and use them to your advantage. Sometimes a small increase can secure your desired item.

    • Be Aware of Competing Bids: Whether bidding online or in person, be mindful of other bidders. Understanding your personal comfort level and objectives will help you know when to step back and stay within your budget.

    Summary

    Participating in a live auction can be an exhilarating and rewarding experience. Follow the tips and guidelines in this article to prepare yourself to navigate the auction process confidently and successfully. Remember to do your research, set a budget, and stay calm and focused during the auction. If you have any questions or need further assistance, please contact us at Thomaston Place Auction Galleries. Our friendly staff is always here to help.

    For any questions, feel free to call us at 207-354-8141.

    For you as a collector, it is important to arm yourself with the knowledge of how to spot common signs of aging in paper and how to care for your collection.  

    Prints, books and ephemera – oh my! Delicate pieces that survive throughout history vary in their subject matter and intended purpose. Ephemera, collectible memorabilia that is used for a short period of time, is typically printed on paper. It can vary from baseball cards to playbills and postcards to broadsides featuring advertisements, announcements, personal information, and more.

    Regular antiquarians, or people who collect rare books, should be familiar with the labor of love that went into writing, printing, and binding old books and how improper care can be a detriment. As time goes on, these pieces will be affected by their environment and consequently, their aesthetic and integral structure could be altered.

    Collection of Andrew Wyeth – Olson House Memorabilia, Lot 2091 from Summer Auction Weekend 2018, sold for $2,000

    Collection of Andrew Wyeth – Olson House Memorabilia, Lot 2091 from Summer Auction Weekend 2018, sold for $2,000 

    What are Some of the Most Common Signs of Aging in Paper? 

    Each piece will vary in condition and can be impacted by how it was made originally, from the paper that was chosen to the ink or paint that was used, and how the piece was stored and cared for after. Conditions will vary from piece to piece, but here are a few terms and common signs of aging in paper you as a collector should be familiar with when tending to and adding to your collection.  

    Acidic Burn – appears as discoloration or brittleness caused by the presence of acid in either the piece itself or the materials it has encountered.  

    Figure . An example of acid burn from Acme Framing, a common sign of aging in paper 

    Discoloration – changes in the hues of media present (paper, paint, ink, etc.) 

    Figure 2. Example of discoloration from Yale University (2014), a common sign of aging in paper 

    Delamination – the piece becomes separated from the board or backing to which it was mounted. 

    Figure 3. Example of delamination, a common sign of aging in paper, from The Fine Arts Conservancy, Stoneledge, LLC

    Embrittlement – the support of the piece has become fragile to the point of breaking or snapping.  

    Figure 4. Example of embrittlement, a common sign of aging in paper, from The Fine Arts Conservancy, Stoneledge, LLC 

    Foxing – reddish-brown stains caused by the paper pulp degrading, exposure to humidity, or the presence of certain fungi.   

    Figure . Example of foxing from Wikipedia 

    How to choose an Art Conservator 

    Now don’t be alarmed – should you find a common signs of aging in paper in a piece you adore, consult with a paper conservator. Search the American Institutes for Conservation “Find a Professional” to find someone near you. It is important to research your candidates before handing over your collection. Carefully look through their portfolio to see if there are similar projects done before. Standard procedures for treating foxing, discoloration, embrittlement, and others with positive changes after being treated are key clues to look for to indicate their capabilities.  

    Word of mouth is priceless. It is important to check reviews online to see what previous clients have said and to reach out to others who may use conservators. Auction houses, such as Thomaston Place Auction Galleries, work with conservators we regularly trust for paper, furniture, paintings, and more. We can provide you with recommendations as well. Feel free to give us a ring! 

    Preventative Measures to Avoid Common Signs of Aging in Paper 

    How do temperature and humidity affect paper?  

    To avoid common signs of aging in paper, your collection can be stored in a variety of ways, but make sure it is storge the right way. Paper is a delicate material and can easily degrade when stored incorrectly.

    Whether a book or a single sheet, the piece should be stored in a cool (about room temperature or below) and relatively dry (about 35% relative humidity) room with not much fluctuation in either. Water can cause mold and mildew to grow on the pages, risking biological degradation. Heat on the other hand can cause the pages to chemically break down the paper fibers, causing it to become brittle and yellow. Older pieces are comprised of inks of an unknown nature which can destabilize from the heat to differ from the intended shade.  

    Why is acid-free storage important for paper collectibles? 

    Give your piece the best chance at surviving another hundred years and consider your storage options. One of the simplest fixes can be switching its current mat, box, or folder to something acid free. An everyday mat, box, or folder is typically made of regular paper pulp. This pulp is full of lignin, a molecule key in the formation of most plants and becomes destabilized when processed into pulp. As the molecule breaks down, it produces acid and deteriorates not only the box, folder, and mat, but other paper-based products it encounters. For that reason, it is important to evaluate how your piece is stored.

    If you find the mat on your piece is brittle or turning yellow, then it is not an acid-free mat. Look for mats and other storage solutions that are acid-free and conservation or museum rated. Acid-free solutions have been buffered with calcium to delay the breakdown of lignin and others are made of 100% cotton, inherently making it acid free. 

    How can I Contact Thomaston Place Auction Galleries for a Condition Report? 

    At Thomaston Place Auction Galleries, we take great pleasure in extending our services to facilitate a comprehensive understanding of each piece. If you have questions regarding the condition of the piece or are curious to see additional photos, contact our Condition Department. With the influx we receive each auction, we encourage you to submit your questions as soon as possible and wait no longer than a week before the auction. Please include your name, the lots you are curious about, and what questions you have for each. Our staff is eager to assist you in finding your next treasure.  

    Art enthusiasts and collectors know that the thrill of an auction lies in the chance to discover rare and unique pieces. At Thomaston Place Auction Galleries, we've been curating exceptional antique, collectibles and art auctions for over four decades, bringing to light works from various eras and styles. Our commitment to excellence has made us a trusted name in the art auction world. To enhance your experience, we're thrilled to introduce our Online Auction Alerts, a free service designed to keep you informed about the latest treasures in our collection.

    The Importance of Staying Informed in Art Auctions

    Antique, collectibles and art auctions are dynamic events where the rarity and uniqueness of items are celebrated. Each piece has its own story and significance, making it crucial for collectors and enthusiasts to stay updated on upcoming auctions. That's where our Online Auction Alerts come in handy. By following specific artists, categories, or search terms, you'll receive notifications about new additions that match your interests, ensuring you never miss an opportunity to acquire that special piece.

    “Each piece that arrives at our gallery is a unique moment in time, a story from history that we're privileged to witness. We feel honored to see every item, knowing we'll never see these objects again. Every piece represents a chapter in the vast book of history, and we're grateful to be part of their journey.”

    Kaja Veilleux, owner and auctioneer

    Personalize Your Auction Experience

    Our platform allows you to tailor your experience by following our most popular keywords. Whether your passion lies in contemporary art, classic paintings, or specific artists, our alerts ensure you're always in the loop. This personalization leads to curated results, allowing you to focus on items that truly resonate with you.

    Setting Up Your Art Auction Alerts

    Getting started with our Online Auction Alerts is simple:

    • Sign in to your Thomaston Place Auction Galleries account.
    • Navigate to My Account.
    • Go to the My Followed Keywords section.
    • Click on Add New.
    • Enter the keywords, artists, or categories you're interested in.
    • Click Save.

    Embrace the Digital Revolution in Art Auctions

    The art auction world is undergoing a digital transformation, with technology playing a pivotal role in enhancing the experience for collectors and enthusiasts. As highlighted in an insightful article on Artsy, titled "The Impact of Technology on the Art Auction Market," the advent of online platforms and auction alerts is revolutionizing the way we discover and acquire art. This digital shift ensures that you're always connected to the latest offerings and trends, making services like our Online Auction Alerts more valuable than ever. Dive into the article to explore how technology is shaping the future of art auctions and how you can leverage it to enrich your collecting journey.

    The Art of Discovery

    Art auctions are not just transactions; they're a journey of discovery. With our Online Auction Alerts, you're equipped to explore the diverse world of art and find pieces that speak to you. Whether you're a seasoned collector or a budding enthusiast, our service ensures you're always ahead in the art auction game.

    Start curating your collection today with Thomaston Place Auction Galleries. Sign up for our Online Auction Alerts and embark on a journey of artistic discovery, where the next treasure is just an alert away.

    207-354-8141
    Business hours are 9 am to 5 pm (eastern time) Monday–Friday.
    Mail
    Thomaston Place Auction Galleries
    PO Box 300
    Thomaston, Maine 04861
    Visit
    51 Atlantic Hwy
    Thomaston, ME 04861
    linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram