Cowan Auctions stands as a prominent name in the world of art, antiques, and historical artifacts. With a rich history and a reputation for handling diverse and significant collections, Cowan Auctions attracts a wide range of bidders, from seasoned collectors to first-time enthusiasts. Navigating the auction process, however, can be both exhilarating and daunting. This comprehensive guide will equip you with the knowledge and strategies necessary to bid successfully at Cowan Auctions, maximizing your chances of acquiring coveted pieces while making informed financial decisions.
Understanding Cowan Auctions: A Foundation for Success
Before diving into bidding strategies, it’s crucial to understand the landscape of Cowan Auctions. Founded in 1995 by Wes Cowan, the auction house has grown to become a leading auctioneer of American history, fine and decorative art, historical Americana, and Native American artifacts. They regularly host specialized sales, such as their highly anticipated American History auctions, Native American Art auctions, and various single-owner collections. Their online presence is robust, with detailed catalogs and live bidding capabilities through platforms like Bidsquare and LiveAuctioneers, making their auctions accessible to a global audience.
Familiarity with the types of items Cowan Auctions typically offers will help you identify sales relevant to your collecting interests. Do you have a passion for Civil War memorabilia? Are you searching for a rare piece of early American furniture? Or perhaps you’re a connoisseur of contemporary art? Cowan Auctions caters to a broad spectrum, so pinpointing your niche will streamline your search and focus your efforts.
Pre-Auction Preparation: The Cornerstone of Smart Bidding
Successful bidding at Cowan Auctions begins long before the auctioneer calls out the first lot number. Thorough pre-auction preparation is paramount.
Researching Lots and Catalogs
The online catalogs provided by Cowan Auctions are your most valuable resource. Don’t just skim the images; delve into the detailed descriptions. These descriptions often include crucial information such as provenance (the history of ownership), condition reports, estimated values, and any known restorations or damage.
- Read carefully: Pay close attention to the language used. Words like “attributed to” or “style of” indicate a potential uncertainty in authorship compared to a definitive “by.”
- Examine images closely: Utilize the zoom features to scrutinize details, signs of wear, or any imperfections.
- Request condition reports: For higher-value items or if the online description lacks sufficient detail, always request a more comprehensive condition report directly from Cowan Auctions. This will give you an expert assessment of the item’s state.
- Verify authenticity and provenance: If possible, cross-reference information about the item and its provenance with independent sources. This is especially important for high-value or rare items.
Setting a Budget and Sticking to It
This is perhaps the most critical step in preventing buyer’s remorse. Determine your absolute maximum bid for each item you’re interested in, and be disciplined enough to stick to it. Remember that the hammer price is not your final cost. You’ll also need to factor in:
- Buyer’s Premium: This is a percentage added to the hammer price, typically ranging from 20% to 25% at Cowan Auctions, but always confirm the exact percentage for the specific auction.
- Sales Tax: Depending on your location and the item’s origin, sales tax may apply.
- Shipping and Handling: If you’re not picking up the item in person, you’ll incur shipping costs. Get an estimate beforehand, especially for large or fragile items.
Your budget should encompass all these additional costs. Going over budget can quickly diminish the thrill of a successful bid.
Attending Previews and Exhibitions
If geographically feasible, attending the pre-auction exhibition is highly recommended. There’s no substitute for examining an item in person. You can assess its true color, texture, weight, and overall presence in a way that photographs simply cannot convey. This is also an opportunity to:
- Verify condition: Your own eyes might catch something not fully described in the condition report.
- Gauge scale and presence: An item might appear different in person than in a photograph.
- Ask questions: Speak with the specialists at Cowan Auctions directly to clarify any doubts or gather more information about specific lots.
Bidding Strategies for Cowan Auctions
Once you’ve done your homework, it’s time to strategize for the auction itself.
Understanding Bid Increments
Cowan Auctions, like most auction houses, operates on a system of bid increments. These are the fixed amounts by which bids increase. Knowing these increments helps you plan your bids and avoid unnecessary jumps. Typically, increments are set by the auctioneer based on the current bid level. For example, a $100 bid might go up by $10, while a $10,000 bid might increase by $500.
Deciding on Your Bidding Method
Cowan Auctions offers several ways to bid:
- In-person bidding: This provides the most dynamic experience, allowing you to observe your competition and react instantly. However, it requires your physical presence.
- Absentee bidding: You can leave a maximum bid with Cowan Auctions before the sale. The auctioneer will then bid on your behalf up to that amount, only raising the bid as necessary to win. This is a good option if you can’t attend live.
- Telephone bidding: For higher-value items, you can arrange to bid by phone, with a representative from Cowan Auctions calling you directly during the lot’s offering. This offers a live experience without physical presence.
- Online bidding (live): Platforms like Bidsquare and LiveAuctioneers allow you to bid in real-time from your computer or mobile device. This offers convenience and speed, but be mindful of potential internet lag.
Choose the method that best suits your comfort level, the value of the item, and your schedule. For significant purchases, a live or telephone bid might be preferred to maintain control and react to the unfolding bidding war.
Psychological Tactics and When to Bid
Bidding at auction is as much about psychology as it is about finance.
- Don’t show your hand too early: Avoid jumping in with your maximum bid immediately. This can signal your keen interest and encourage others to bid higher.
- Patience is key: Wait for a few bids to establish the momentum.
- Sudden, decisive bids: Sometimes, a strong, unexpected bid can deter other bidders, especially if it significantly exceeds the previous increment.
- Know when to stop: This goes back to your budget. Once you hit your pre-determined maximum, stop bidding. The thrill of the chase can be intoxicating, but overpaying leads to regret.
- Consider “sniping” (for online bidding): This involves placing your maximum bid in the final seconds of an online auction. While it can be effective, it carries the risk of internet delays or missing your chance if another bidder has already placed a higher maximum absentee bid.
- The “one more bid” trap: Resist the urge to go “just one more bid” past your budget. This is where most overspending occurs.
Post-Auction Procedures: Completing Your Purchase
Congratulations, you’ve successfully won a lot at Cowan Auctions! Now, the final steps:
Payment and Collection
You’ll receive an invoice detailing the hammer price, buyer’s premium, and any applicable taxes. Prompt payment is crucial. Cowan Auctions typically accepts various payment methods, including wire transfers, credit cards (though often with an additional processing fee), and checks.
Once payment is cleared, arrange for collection or shipping of your item. If picking up in person, ensure you have appropriate packaging or transportation. If shipping, coordinate with Cowan Auctions or their recommended third-party shippers.
Inspecting Your Acquired Item
Upon receiving your item, inspect it thoroughly to ensure it matches the description and condition report. If there are any discrepancies or significant undisclosed damage, contact Cowan Auctions immediately to discuss the issue. Most reputable auction houses have policies in place to address such concerns.
The Joys of Collecting with Cowan Auctions
Participating in Cowan Auctions can be a truly rewarding experience, whether you’re a seasoned collector expanding your portfolio or a new enthusiast discovering the thrill of acquiring unique pieces. By approaching the process with thorough research, a disciplined budget, and a clear bidding strategy, you can confidently navigate the exciting world of auctions and ultimately build a collection that brings you lasting joy and value. The world of Cowan Auctions is rich with opportunity; with these tips, you’re well-equipped to make the most of it.