The $5000 Auction Challenge



The Auction Challenge

We asked our good friend Mark Gleberzon to participate in a unique challenge. We asked him: "If you had $5000 to spend at auction - what would you choose?" With Mark's background as an artist and his own personal style and sense of design, it seemed like a challenge custom-designed for him.

Here was our original conversation with Mark:

W – What do you think will be the most difficult part of this challenge?

MJG – I am actually in the midst of looking for a new place to live. I sold and donated and actually even consigned some items to Waddington’s (!) looking for a fresh, new start. Even decor-wise. So, this challenge will be fun. And hey, I might end up bidding on one or two things to keep, for reals. The challenge will be to rein in the crazy! It's always easy to find items to "want". It's more difficult to commit to something I might actually "need". Unlike a retail store, I can't return my purchase from an auction house. My selections - even fictional - need to be thoughtful and practical.

W – How about you select a work of your own collection as a starting point, to build around. Perhaps a favourite piece of furniture or one of your own works of art?

MJG – The few furniture items I kept include a mid-century modern credenza and a cozy black-leather chair. And yes, we could certainly include one of my photos or paintings to use for further decor inspiration to draw colours and other considerations from.

W – Do you have a strategy when you’re bidding in an online auction?

MJG – budget and commitment are my two most important strategies when it comes to purchasing from an auction. It's always easy to see something and fall in like with an object. But reality must be considered. What am I really able to afford and will the object be what I need and will use and ultimately enjoy having in my home?

W – Do you have any words of advice for those new to the auction world?

MJG – I have several words of advice, starting with:

Do your research. Every auction maintains records of what has sold in previous sales. It's a fantastic resource to see market trends, realized prices and the kinds of items you’ll find in a sale.

Go to the viewing previews. If you're a stickler for perfection, look at the object you covet in person. Hold it. Feel it. See if there's a connection between you and it. Don't only go by photos. If concerned, ask if there's been any restoration. And hey, sometimes you can learn if the prior owner was a noted collector or someone famous.

When there's the opportunity to, attend a live auction, go. Perhaps first watch how people bid and even the kinds of people who are bidding. You will see seasoned buyers and collectors who love the small victory of their winning bids as well as seasoned bidders who may be dealers or designers, looking to re-sell or buying that special something for their client's home. Auctions can be somewhat slow but if you have the right auctioneer and bidding gets fierce, they can be rather entertaining.

When it comes to online bidding, watch how bids are placed and the increments at which prices go up. And if you take that leap of faith and bid yourself, be mindful of your budget!! That can't be stressed enough. Keep in mind you're not only paying the price of the winning bid but also the auction house premium (a pre-assigned percentage, usually) as well as those dreaded taxes. It's easy to get caught up in a bidding war. Unless the item is that unique or the opportunity too personally important to let the item be purchased by someone else, you may just have to show restraint and put the paddle down (in a live auction) or not press the 'bid' button (if you're bidding online)

W - Thanks Mark! That was a great primer for anyone new to the auction world.

 

Posted: 9/7/2017 12:00:00 AM
By: Tess McLean
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UPCOMING AUCTIONS & EVENTS



Inuit Art Online Auction
November 18 - 23, 2017


On View:
Saturday, November 18, 2017
from 11:00 am to 5:00 pm
Sunday, November 19, 2017
from 11:00 am to 5:00 pm

For inquiries and condition reports, please contact
inuitart@waddingtons.ca

View the Auction Gallery


Fine Wine Online Auction
November 20 - 28, 2017


This auction will start closing at 6:00 pm on Tuesday, November 28, 2017

Under the authority of the LCBO

View the Auction Gallery


Fine Spirits Online Auction
November 20 - 28, 2017


This auction will start closing at 4:00 pm on Tuesday, November 28, 2017

Under the authority of the LCBO

View the Auction Gallery


Canadian Fine Art Auction
Monday, November 20, 2017 at 7:00 pm


On View:
Thursday, November 16, 2017
from 12:00 pm to 7:00 pm
Friday, November 17, 2017
from 12:00 pm to 7:00 pm
Saturday, November 18, 2017
from 11:00 am to 5:00 pm
Sunday, November 19, 2017
from 11:00 am to 5:00 pm
Monday November 20, 2017
from 10:00 am to 12:00 pm

To partake in Live Internet bidding, please register yourself on www.invaluable.com

Please note: Invaluable Live! clients will be charged a buyer's premium of 25% of the successful bid price of each lot. 

View the Auction Gallery


Inuit Art Auction
Tuesday, November 21, 2017 at 7:00 pm


Thursday, November 16, 2017
from 12:00 pm to 7:00 pm
Friday, November 17, 2017
from 12:00 pm to 7:00 pm
Saturday, November 18, 2017
from 11:00 am to 5:00 pm
Sunday, November 19, 2017
from 11:00 am to 5:00 pm
Monday November 20, 2017
from 10:00 am to 12:00 pm

To partake in Live Internet bidding, please register on www.invaluable.com

Please note: Invaluable Live! clients will be charged a buyer's premium of 25% of the successful bid price of each lot. 

For inquiries and condition reports, please contact
co@waddingtons.ca

View the Auction Gallery


The Allure Online Auction - Works by Canadian Contemporary Jewellery Artists
November 25 - 30, 2017


On View:
Friday, November 24, 2017
from 12:00 pm to 5:00 pm
Saturday, November 25, 2017
from 11:00 am to 5:00 pm
Sunday, November 26, 2017
from 11:00 am to 5:00 pm
Monday November 27, 2017
from 10:00 am to 12:00 pm

View the Auction Gallery


Concrete Contemporary Art Auction
Monday, November 27, 2017 at 7:00 pm


On View:
Friday, November 24, 2017
from 12:00 pm to 5:00 pm
Saturday, November 25, 2017
from 11:00 am to 5:00 pm
Sunday, November 26, 2017
from 11:00 am to 5:00 pm
Monday, November 27, 2017
from 10:00 am to 12:00 pm

All lots offered through ARTSY

To partake in Live Internet bidding, please register yourself on www.artsy.net

Please note: ARTSY clients will be charged a buyer's premium of 20% of the successful bid price of each lot. 


View the Auction Gallery


International Art Online Auction
December 2 - 7, 2017


On View:
Friday, December 1, 2017
from 12:00 pm to 5:00 pm
Saturday, December 2, 2017
from 11:00 pm to 5:00 pm
Sunday, December 3, 2017
from 11:00 am to 5:00 pm
Monday, December 4, 2017
from 10:00 am to 12:00 pm


Asian Art Online Auction
December 2 - 7, 2017


On View:
Friday, December 1, 2017
from 12:00 pm to 5:00 pm
Saturday, December 2, 2017
from 11:00 pm to 5:00 pm
Sunday, December 3, 2017
from 11:00 am to 5:00 pm
Monday, December 4, 2017
from 10:00 am to 12:00 pm


Rugs & Carpets Online Auction
December 2 - 7, 2017


On View:
Friday, December 1, 2017
from 12:00 pm to 5:00 pm
Saturday, December 2, 2017
from 11:00 pm to 5:00 pm
Sunday, December 3, 2017
from 11:00 am to 5:00 pm
Monday, December 4, 2017
from 10:00 am to 12:00 pm


Asian Art Auction
Monday, December 4, 2017 at 7:00 pm


On View:
Friday, December 1, 2017
from 12:00 pm to 5:00 pm
Saturday, December 2, 2017
from 11:00 am to 5:00 pm
Sunday, December 3, 2017
from 11:00 am to 5:00 pm
Monday, December 4, 2017
from 10:00 am to 12:00 pm

To partake in Live Internet bidding, please register on www.invaluable.com

Please note: Invaluable Live! clients will be charged a buyer's premium of 25% of the successful bid price of each lot. 


Fine Jewellery Auction
Tuesday, December 5, 2017 at 7:00 pm


On View:
Friday, December 1, 2017
from 12:00 pm to 5:00 pm
Saturday, December 2, 2017
from 11:00 pm to 5:00 pm
Sunday, December 3, 2017
from 11:00 am to 5:00 pm
Monday, December 4, 2017
from 10:00 am to 12:00 pm

To partake in Live Internet bidding, please register on www.invaluable.com

Please note: Invaluable Live! clients will be charged a buyer's premium of 25% of the successful bid price of each lot. 


A Private Collection of Martin Brothers Stoneware
Wednesday, December 6, 2017 at 2:00 pm


On View:
Friday, December 1, 2017
from 12:00 pm to 5:00 pm
Saturday, December 2, 2017
from 11:00 pm to 5:00 pm
Sunday, December 3, 2017
from 11:00 am to 5:00 pm
Monday, December 4, 2017
from 10:00 am to 12:00 pm

To participate in Live Internet bidding, please register on www.invaluable.com

Please note: Invaluable Live! clients will be charged a buyer's premium of 25% of the successful bid price of each lot. 

For information or condition reports, please contact Bill Kime

View the Auction Gallery


Decorative Arts Auction
Wednesday, December 6, 2017 at 7:00 pm


On View:
Friday, December 1, 2017
12:00 pm to 5:00 pm
Saturday, December 2, 2017
11:00 pm to 5:00 pm
Sunday, December 3, 2017
11:00 am to 5:00 pm
Monday, December 4, 2017
10:00 am to 12:00 pm

To participate in live Internet bidding, please register on www.invaluable.com

Please note: Invaluable Live! clients will be charged a buyer's premium of 25% of the successful bid price of each lot. 


"Off the Wall" Art Online Auction
December 9 - 14, 2017


On View:
Sunday, December 10, 2017
from 12:00 pm to 4:00 pm
Monday, December 11, 2017
from 1:00 pm to 7:00 pm