The 3 Biggest Advantages of Buying in an Auction

If you’ve never shopped at an auction before, you may wonder about the appeal auctions hold for the people who regularly buy jewelry, high-end watches, and other luxury goods there. Savvy consumers know that auction buying holds powerful advantages over retail shopping. So what keeps auction shoppers coming back for more?

The 3 Biggest Advantages of Buying in an Auction | Auction King

1. Great Deals

The most obvious advantage buying at auction has over retail shopping is the potential for truly amazing deals. For example, jewelry ordinarily has high retail markups, and even “sale” prices at a mall jeweler represent a significant markup over wholesale prices. At auction, an alert buyer can snap up high-end pieces for a fraction of their retail value, especially at no-reserve auctions where bidding can start as low as $1. You can also find similar opportunities for other luxury items such as designer handbags and watches. Best of all, you don’t have to wait for a seasonal sale to hunt for a good deal. Auctions are available year-round, so you can save whenever you’re ready to buy.

2. Variety

Tired of seeing the same goods in store after store? Auctions offer a wide variety of items to bid on, not just the designs and looks that are this year’s fashion. Seized asset and estate auctions in particular can offer the opportunity to snap up unique items that you just won’t find at a local shop or retail chain. If you’re looking for vintage, antique, or one-of-a-kind pieces, an auction is the right place to go. Auctions also feature more frequent turnover of pieces available than retail stores do. If you don’t see what you’re looking for one week, just be patient and keep your eye on your favorite sites. No doubt you’ll see something that catches your interest very soon!

3. Comparison

Online retail shopping means people no longer have to trudge from store to store to find what we want. Online auctions have similarly transformed the auction experience. Live auctions used to be events a buyer had to attend to have the chance to bid, which could be inconvenient or even impossible, based on timing or geography. Nowadays, with the availability of well-established, reputable online auctions, you can easily browse a wide variety of items up for bid all around the world to find exactly what you want at the best value.

With all the advantages of being able to conveniently find great deals on quality items, it’s no wonder that so many shoppers prefer auctions to purchase their favorite collectibles and luxury items. They know that the enjoyment of a beautiful diamond ring or a high-end watch is only magnified by knowing that you bought it at a fraction of its retail price.

The Secret to Buying Jewelry

Buying fine jewelry is not an everyday experience for the average consumer. Many will head to the mall or turn to a name brand retailer when it’s time to buy a diamond ring, a high-end watch, or a beautiful necklace. However, just because a store name seems familiar may not make it the best place to shop.

If you’ve ever checked out the prices at a retail jewelry store and had the nagging feeling that they’re higher than they need to be, it isn’t your imagination. The markup at such stores can be several times the wholesale price, a padding that allows chain retailers to offer apparently deep discounts. When you consider the inflated beginning price, however, those so-called “sales” still result in high prices for the customer.

The Secret to Buying Jewelry | Auction King

Instead, savvy jewelry shoppers know that the secret to getting fine jewelry and luxury watches below wholesale value is to buy at auction. Auctions offer the opportunity to get unique, high-end pieces at a fraction of their retail value. Unfortunately, in-person auctions may be inconvenient for an individual shopper due to their location or timing.

Auction King, a live online auction site, combines the opportunity of live auctions with the convenience of online shopping. Unlike eBay, where most items up for bid come from retailers, Auction King sells high-end inventory from government seized assets, estate sales, and abandoned storage facilities. Participants can follow along with bidding when the auction starts and participate in real time, or enter an absentee bid prior to an auction’s start. Customers experience the thrill of live bidding as they hunt for their perfect item.

Buying fine jewelry at auction allows consumers to get fantastic pieces at truly bargain prices. Winning bids can be as low as ten cents on the dollar—a 90 percent savings over retail prices. For example, a recent purchaser at bought a $10,000 diamond ring for just $500. Retailers themselves shop their auctions for items to turn around and sell to their own customers.

Auction King offers a wide variety of fine contemporary and antique jewelry featuring diamonds, sapphires, rubies, tanzanite, and many other stones. In addition, they have Rolex and other luxury watches. Available items are posted on their website and updated frequently. Listings for jewelry include pictures as well as detailed appraisals, and potential bidders may request additional information on any pieces of interest before registering for an auction.

For regular shoppers or insiders, buying at an auction is the secret to getting a truly stunning piece of jewelry at a fraction of its retail cost. And as a bonus, purchasing from the online auction at means you don’t even have to drive to the mall.

Register today to bid and win at our live online auctions.

How to Make Sure You’re Not Buying Fake Jewelry

Jewelry can be a significant investment. As with any big purchase, you’ll want to be sure that you’re getting your money’s worth when you buy a diamond ring or gold necklace. How can a consumer be sure that the jewelry they’re getting is the real deal? Here are some simple tips to follow that will help you separate quality jewelry from the fakes.

How to Make Sure You’re Not Buying Fake Jewelry | Auction King

Who’s the Seller?

The first thing you should always consider is the source of the jewelry on offer. Are you shopping with a reputable retailer or auction company? Those who make it their business to deal in fine jewelry have nothing to gain—and a lot to lose—by passing off counterfeit merchandise as the real thing, as it is easy for a purchaser to have a piece appraised by a certified jeweler after they buy it. On the other hand, if you hear about a too-good-to-be-true deal through back channels, chances are the piece on offer isn’t genuine. And of course, you should never buy jewelry you’ve never seen at all. Any legitimate seller will give you an opportunity to see what you’re buying and will answer any questions you have about it.

Know Your Metals

If you have the opportunity to examine the item in person, certain features can help you distinguish real jewelry. One obvious thing to look for is a hallmark of precious metals. Sterling silver is usually stamped with “925” and gold will bear a mark such as “10K” or “14K” indicating karats. This mark may be on the inside of a ring or on a disk at the end of a necklace. Precious metals are denser than the substitute metals used in costume jewelry, so pick the piece up and see if it feels heavy enough for its size or too light. Genuine silver will also leave dark streaks (the oxidation that leads to tarnishing) when wiped on a white cloth. Finally, precious metals are not magnetic, so if the piece sticks to a magnet, it is definitely not real.

Quality Shows

The workmanship of a piece can also be a tip-off. If the piece seems cheaply made, with protrusions, rough edges, or visible seams in the metal, it is almost certainly costume jewelry. Genuine pearl necklaces will have a knot between each pearl, to prevent the loss of more than one pearl should the necklace break. You should also check the inside of rings and bracelets, and other spots where a piece of jewelry would rub against a wearer’s skin, to see if a base metal is showing through worn-away plating.

Get Verification

When considering a gemstone for purchase, know that it is difficult to distinguish a genuine stone from a fake with the naked eye. Your best assurance that a gemstone is real is an appraisal report from a trained gemologist. The cost of such an appraisal is negligible compared to the value of a high-end piece of jewelry, so beware if the seller declines to provide one. Auction King provides certificates of authenticity with every purchase, so you can be sure that you are buying quality items.

With some basic knowledge and a little bit of common sense, you can feel confident that the jewelry you’re buying is the genuine article. Fine jewelry lasts a lifetime and beyond. It’s worth taking the trouble to know exactly what you’re getting.