What I do for a living

The company name is Sterling Auctioneers and we have been established for nearly four years supplying the West Coast of Australia, and soon the rest of the country, with premium Australian and French wine.

We also deal with some of the most spectacular Diamonds and Jewellery ever seen in the country!

"So, how does an Auction work?" - you ask

Basically, if you are careful with your loved articles and make sure you get all the right paperwork from the auction house, it really is the best way to sell goods.

If you follow the few pointers I have listed below, you should always be happy with the results acheived.

• Do your research! Make sure the stock is suitable for the business you are taking it to. Obviously, the family run disposals business at the end of the street could cater no better with a rare piece of Faberge Object d'Art than Sotherby's could with your second hand sofabed!

• Once at the business of your choice, ask questions. A company should only be reluctant to answer, if they have something to hide. Know how they run their operation, how many staff they have and what their qualifications are. What is the security like? How soon should you expect your auction proceeds? etc..

• When your stock is consigned, be fussy with the detail. If there is no damage to your goods, have them write "pristine condition" on the report, or slight "scratch top left corner" or whatever the case may be.

• Now set a reserve with the Auctioneer. Remember, it is an Auction , so if you honestly want to sell, make the price sensible. And be clear on whether the figure quoted is before or after commission!

• Commission rates can vary from auction to auction, but is usually between 10% and 20%, depending on the value of the goods.
  And, finally....

• Go to the Auction. I don't want to give the impression that people in the auction industry are less than honest, but they are human and can make honest mistakes. If you are at the sale and you see your goods sell, you'll know what it went for and there should be no confusion. Remember though, some places do use "dummy" bidders to make the sale move a bit faster and appear more active. So occassionally, what appeared to have sold, may not have after all.

Because auctions run on a commission basis, the more they get for a piece the more money both you and the Auctioneer makes. They are basically an agent working on your behalf as opposed to someone who buys the stock from you and sells with a mark up.