Picking A Bargain at Auction


Never Lose Confidence and Belief

Believing something is very important in all walks of life, indeed in life. When I started going to auctions regularly in 1983, I always thought that the bargain will come my way at some point. It was in 1984 at Sothebys that I picked my first, real bargain that made my dream come true.

Going to auctions was an intense effort in the 1980s, 1990s and early 2000s. The rewards were great and had I been more active, I am sure I would have got more of those bargains that are at auctions, markets, shops daily. The following Blog Entry is very recent and it describes.

The average price of the artist warrants investment

Vyron Mangos

(Greek, [1924-2004] A good impressionist artist with an increasingly good profile. Collected well and supported at auction. Auction price range £800-5000)

It is never late to spot a promising piece of art for investment as the Internet works day and night. Surfing the Antiques Gazette site on Sunday night at about 9.00pm, I end up on the website of Bonningtons Auctioneers, a small auction just outside London. I click on the site and go straight to the pictures section. Most likely a waste of time for most, but for me it has proven to be otherwise time and again.

It might prove worthwhile once more as I spot an interesting entry. Catalogued as ‘Greek School, Impressionist Painting’ I wonder how the auctioneers know it’s Greek school. The answer is there on the photos of the website. The name written in Greek reads, ‘Vyron Mangos’ – clear to me, but not to the auctioneers who fail to read the Greek name. However, they feel it is by a good artist, thus the illustrations in the catalogue.

Greek Impressionist painting £30-50

The artist has an average auction price of two thousand pounds so at fifty pounds, the top estimate of the auction, the lovely figurative landscape is not only a good investment, it is a bargain to be grabbed firmly. But how can I buy it or even leave a bid for it, since I am still working mornings at school and the sale is at 10:30 am the following day?

No worries there as I have a capable assistant at home who seems to like being involved in my art ventures of today. Thus my wife bids on the phone and has the thrill of the day. The painting is knocked down to her at £160 plus thirty pounds commissions and VAT. That is ten times less than the average of the artist.

I am wondering and asking you dear readers. Have I invested in another bargain or am I off the mark?

· I paid roughly £200 for a very good, sizeable, oil painting.

· The average auction value of the artist’s work at prices of 2004-2008 is about £2000.

I am sure I invested in a very good painting at a bargain price, which by the way I look at and enjoy daily. What a magnificent work of art!

Vyron Mangos

It is 2013 and the Internet beams everything around the world to millions of potential investors. Yet, bargains are still waiting to be picked up by the shrewd collector and investor regardless of where their residence might be. Could it be you? Why not!!!!

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