First Time at Auction? Here’s Everything You Need to Know Before You Bid

Wilhelm Nicolai Marstrand, An auction scene, 1835

If you’ve ever browsed Bidsquare and thought, “I love that piece, but I’m not sure how this whole auction thing works,” you are not alone. Whether you're looking for art, antiques, jewelry, or collectibles, bidding in your first auction can feel intimidating, but it doesn’t have to be.
This guide is designed to help you understand the basics, build confidence, and enjoy the excitement of buying at auction.

What Is an Auction?
At its core, an auction is a competitive buying process where items are sold to the highest bidder. Bidsquare brings auctions online from trusted auction houses across the country, giving you access to a wide range of vetted items; from rare collectibles to everyday treasures.
There are a few types of auctions on Bidsquare:
Live auctions happen in real-time (streamed online), where you can bid live or leave bids in advance.
Timed auctions run for a set period (like eBay-style auctions) and end at a scheduled time.
Absentee bidding allows you to place your maximum bid in advance and the system will bid on your behalf.

How to Register and Get Started
Before you bid, you’ll need to create a free account on Bidsquare. Once you find an auction you’re interested in, click “Register to Bid” for that specific sale. Some auctions approve registrations instantly, while others require a quick review by the auction house.
Once you’re approved, you’re ready to bid!

Understanding the Bidding Process
Here’s what to expect:
Placing a Bid: You can place a pre-sale bid (before the auction starts) or bid live as the auction unfolds.
Bid Increments: These are the set amounts by which bids increase. For example, an item might go from $500 to $550 to $600, etc.
Maximum Bid (Proxy Bidding): Enter the highest amount you're willing to pay. The system will automatically outbid other bidders up to your max, but only if needed.
Reserve Price: Some items have a minimum price that must be met for the item to sell. If bidding doesn't reach this reserve, the item won't be sold.

What Happens if You Win?
Congratulations! Here’s what happens next:
You’ll receive an invoice from the auction house after the sale ends.
Payment is typically due within a few days. Each auction house lists accepted payment methods in the terms and conditions.
You’ll arrange for pickup or shipping. Some auction houses offer in-house shipping; others can recommend trusted shippers.

First-Time Bidder Tips
Know the Terms: Each auction has its own terms, including buyer’s premiums (additional fees) and return policies.
Do Your Homework: Read the item description carefully. Ask the auction house for a condition report or additional photos if needed.
Stick to a Budget: Set your maximum bid and try not to get carried away in the excitement of bidding.
Ask Questions: Bidsquare and the auction houses are happy to help. Don’t hesitate to reach out if something’s unclear.

Start Browsing Like a Pro
Bidding at auction is a fun, rewarding way to discover unique pieces. With a little preparation, your first experience can be smooth and exciting.

Ready to try it out? Browse upcoming auctions on Bidsquare and register to bid today.