Top Tips From our Auction Specialists
Handbags are more than just accessories; they are statements of style, status, and craftsmanship. While many fashion enthusiasts flock to boutiques and online stores to purchase their coveted piece, auctions offer a chance to discover often rare gems from the biggest brands in the world. Here are some essential tips and insights to help you navigate the auction experience.
Research is Key
Before diving into the auction scene, arm yourself with knowledge. It is important to take a look at our history, specialists and past auction results. This information will help you gauge the quality and value of the bags likely to be on offer. Lyon & Turnbull are proud to have been in the auction business for almost 200 years and have the expertise of some of the best specialists in the world.
Set a Budget
Auctions can be exhilarating, and it's easy to get carried away in the heat of the bidding war. To avoid overspending, set a realistic budget and stick to it. Remember to factor in additional costs like buyer's premium, taxes, and shipping fees when determining your maximum bid.
Attend Previews
Lyon & Turnbull offer regular viewings and preview events where potential buyers can inspect the handbags up close. Take advantage of these opportunities to examine the bags' condition, craftsmanship, and authenticity. Pay attention to the details - stitching, hardware, logos, and materials. If possible, consult an expert or bring a friend with a keen eye for luxury handbags.
Know Your Brands
Familiarise yourself with the top luxury handbag brands and their iconic styles. Chanel, Hermès, Louis Vuitton, and Gucci are just a few of the coveted names you might encounter at auctions. Understanding the desirability and value of specific brands will help you make informed decisions and identify potential bargains.
Condition Matters
Make sure you request a condition report from our specialists. This will highlight any wear, marks or defects that you may not have spotted in the pictures. Unlike buying from a retailer, handbags at auctions are often pre-owned. Carefully assess the condition of the bags, keeping an eye out for signs of wear, damage, or repairs. Minor imperfections may not affect the bag's value significantly, but major flaws could impact its worth and your enjoyment of owning it.
Set Realistic Expectations
While auctions can offer the chance to snag a rare or vintage piece, it's important to approach each auction with realistic expectations. Not every bag will be a collector's item, but that doesn't mean you won't find a treasure. Keep an open mind and be prepared to bid on a bag that speaks to you, regardless of its potential resale value.
Buying handbags at auction is an incredible experience that offers the opportunity to acquire unique pieces with a rich history. By conducting thorough research, setting a budget, and knowing what to look for, you can navigate the auction scene with confidence. Remember, it's not just about the brand or the price tag; it's about finding a handbag that resonates with your personal style and brings you joy. So, embrace the excitement, follow our guide, and get ready to uncover hidden gems in the world of handbag auctions.
