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Many folks think of auctions as highbrow affairs where well-heeled buyers spar over fine art and Chippendale chairs. Add the word “estate” in front of auction, and it really sounds exclusive. But whether an auction house sells off an entire estate or a mixture of consigned pieces, you’re as likely to find common items as a precious painting. In nearly the same breath, the auctioneer may sell a cake plate for $5 and a dining room set for thousands.
Pretty much wherever you live in North Carolina, you can find an auction within comfortable driving distance almost any day of the week. Auctions are usually advertised in the paper. You can also go to www.auctionzip.com and type in your zip code to find auctions close by.
Patrick Holloway, a retired civil engineer, regularly goes to auction houses in Raleigh, Mebane, Louisburg and other parts of the state. He looks for deals on furniture, jewelry and knickknacks that he resells on weekends at the State Fairgrounds flea market in Raleigh. He also collects, repairs and sells watches. “I’ve bought watches for $2 that were worth hundreds,” he says. About five years ago, he started going to tag sales, “and it kind of escalated.” But Holloway is a cool-headed buyer. Like many seasoned pros, he recommends setting a limit on what you’re willing to spend before the bidding starts. “It’s easy to get caught up in the moment and before you know it, you’ve paid twice what something’s worth.”
Anyone who has watched “Antiques Road Show” on TV knows that just because something’s old doesn’t mean it’s worth a lot of money. If you want to invest in collectibles, for example Depression glass, it’s easy to find out the current value for particular pieces in reference guides. Such books also explain how to tell a reproduction from the real deal.
Many auction-goers buy things simply because they like them. At the sale of a deceased person’s estate, neighbors and friends often like to have a remembrance. “They’re buying sentiment—you can’t really put a price tag on that,” says Jim Hoy, who runs Hoy Auction Company in Wake Forest with his son Jay.
Practical, everyday items are a staple at many auctions. Alongside the unusual and the unique, you may find lawnmowers, bookcases, toys, dishes, tools, books, clocks, pottery, lamps, rugs, couches and appliances.
Sheila Carver, who runs Magnolia Manor Plantation Bed and Breakfast in Warrenton, furnished almost the entire 6,000 square feet of the mid-18th-century home with antique furniture she bought at Hoy Auction over a period of five years. Many a night has found her sitting patiently in her seat, cross-stitching or quilting to pass the time between bids. She even finds creative uses for items that are past their prime. At a recent auction, she was the winning bidder—at $1—on a couple of battered quilts. “I’m going to use them to make Christmas stockings,” she says.
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