Investors used bid for auction items over the phone as they added to their portfolios of hard assets.
Now, they purchase them online. All of the major auction houses have websites and online bidding services. That doesn’t mean that investors always find a good deal.
This Website Is For Financial Professionals Only
For some companies, 50% of their auctions are now conducted over the Internet. It’s important for investors to do their homework when bidding online.
Online databases are a good place to start. Investors should look at an auction house’s archives for similar items and the prices fetched for those items.
That way, your clients who invest in hard assets can get an idea of what the high and low bids were.
As well, the item listed online may not be accurately represented. Condition is critical in determining the value of a collection asset and it can be difficult to accurately judge condition from the pictures they see online.
More of your clients than you might think may be investors in collections of hard assets
. It’s a good idea to ask questions about collections they may have.
It could be that they have $1 million in collection value sitting on a table or hanging on their walls that need to be included in their portfolio and on which they may need advice from you.