An auction does one thing a fixed price cannot: it finds out what several people will pay on the same day, in public. For unique stock — a single ring, a signed piece, a machine with no obvious comparables — that is often the best price discovery available. For commodity stock, it is more work than it is worth.
This is the checklist we would give a house putting a sale together, in the order the work actually happens.
1. Decide what belongs in a sale
Auction works best when there is competition: several bidders who want the same thing, or a category with a real collector base. It works least well for low-value, easily replaced goods, where the cost of cataloguing and photography exceeds the margin.
Group stock into sales that make sense to a buyer. A “mixed” sale can work, but a coherent jewellery sale, a plant sale or a watch sale is easier to market and easier to search for.
2. Estimate honestly
An estimate is a range, not a valuation. Build it from realised prices for comparable things, adjusted for condition, completeness and venue. A low estimate that attracts bidders is worth more than a high estimate that attracts nobody — but an estimate so low that it looks like a mistake damages trust.
The band should be wide enough to be honest and narrow enough to be useful. On this platform the starting bid is the lower estimate, so the low figure is doing real work: it is the first number a bidder sees.
3. Set the reserve deliberately
The reserve is the seller's floor, usually confidential. Set it too high and the lot goes unsold; set it at zero and the seller carries the risk of a disappointing result. A common discipline is a reserve at or slightly below the low estimate, with the seller clear about what happens if it does not sell.
Do not confuse the reserve with the estimate, and do not tell a bidder the reserve. Tell the seller what it means.
4. Photograph for a buyer who cannot touch it
The photograph is the viewing. Shoot on a plain background in even light, and include:
- The whole object, front and back.
- Marks, signatures, hallmarks and labels — close enough to read.
- Any damage, repair or missing part, deliberately and in focus.
- A scale reference, or the measurements in the description.
- For jewellery, a wearer shot or a hand for scale; for machinery, the controls and the hour meter.
Do not use filters that change colour. A bidder who receives something a different colour from the photograph will not bid again. Our listings allow up to eight photographs per lot; use them for information, not decoration.
5. Write a description that answers the questions
A useful lot description contains: what it is, the material, the measurements, the period or maker, the condition, the provenance you can actually support, and what is included. It does not contain adjectives doing the work of facts.
“Stunning” is not a condition report. “Three small chips to the rim, visible in photograph 4; no restoration under UV” is. The second sentence sells the lot and protects the seller.
6. Price the sale, not just the lot
A seller cares about the net result: hammer, minus the seller's commission, minus photography and entry fees, minus any unsold or withdrawal charge. A buyer cares about the all-in cost: hammer plus premium plus VAT plus collection. Both need to be clear before the sale, not after.
On this platform the house pays a subscription rather than a per-lot commission to us; what the house charges its own sellers is the house's agreement. Be explicit about it in the sale terms.
7. Choose the dates around the buyers
Timed sales run for a window — on this platform between seven and forty-five days — and close at a stated time. Avoid closing on a public holiday or at an hour when your buyers are asleep. If several sales in the same category close on the same evening, bidders have to choose; that can help a strong sale and hurt a weak one.
Leave enough time after the catalogue is published for bidders to ask questions and arrange collection. A sale published the day before it closes is a sale with no audience.
8. Market the catalogue, then the lots
Announce the sale, then the individual highlights. Email the list, post the best three lots on social media, and make sure every lot has its own page that can be shared. A catalogue that only exists behind a login cannot be found, shared or indexed.
A preview, even a short one, converts interest into bids. So does a clear answer to “can I collect it?” before the sale rather than after.
9. Know the legal limits before you catalogue
Some goods need paperwork or cannot be sold without it: CITES-listed materials such as ivory and certain woods, firearms, alcohol, some watches and antiquities. Diamonds may need Kimberley Process assurance. If you are unsure, ask before the lot is published, not when a buyer asks for export.
10. Close the loop after the hammer
Invoice promptly, take payment, and tell the buyer exactly when and where to collect. Chase unpaid lots on a stated timetable, and be clear with the seller about what happens if a buyer defaults. A sale is not finished when the hammer falls; it is finished when the lot is paid for and collected.
The checklist
| Stage | Done when… |
|---|---|
| Stock | Every lot belongs in this sale and has a clear title. |
| Estimate | Each range is based on realised comparables, not hope. |
| Reserve | The seller understands the floor and the unsold outcome. |
| Photographs | Overall, marks, damage and scale are all visible. |
| Description | Material, measurements, condition and provenance are stated. |
| Terms | Premium, VAT, collection and storage are published. |
| Dates | The window is long enough to market and short enough to matter. |
| Marketing | The sale and its highlights have been sent and posted. |
| Legal | Restricted goods have the paperwork they need. |
| After-sale | Invoicing, payment and collection have an owner. |