Firstly, I would like to just clear something up. You can’t buy an artwork by sneezing in an auction. If you could the auction houses would serve snuff instead of champagne at their events. 

But its myths like this and the association with bubbles and black-tie events that have portrayed auctions as an activity only for the elite and wealthy. 

Auctions carry so many benefits to both buyer and seller: instant and focused transactions, transparent and open markets that treat all bidders equally, no upper price restrictions for sellers, pre-negotiated minimum starting prices for buyers, and, my favourite of all, just pure fun - it is the only form of retail where negotiating your price up is an enjoyable experience. 

But there is often an inherent snobbery and exclusivity associated to auction houses that has limited them to a small audience. Complicated commission structures and a foreign language of auction terms has meant that many are unable to enjoy the thrill of an auction and its many benefits. 

I wanted to change that. After working for one of the major auction houses for seven years (the big red one), I set up The Auction Collective - an accessible popup auction house for emerging artists and first-time art buyers.  

What started as a fun idea to help friends and family support London’s emerging artists, is now an innovative initiative that brings together an international network of independent artists, partners, galleries and budding art collectors. 

But whether you are starting a collection of emerging art, dinosaur fossils, tech memorabilia or nineteenth-century tea doilies, there are 10 tips for buying at auction I can’t recommend enough: 

• Artist and Authenticity – It is sounds basic, but it so important to understand what the object is and who created it. Ask the auction house for evidence of authenticity, such as certificates, and to go into depth about the medium. It is good to understand whether the object is unique, from an edition or even a reproduction. 

• Condition and Quality – Being aware of the condition is key, especially with second hand goods. But you should also consider how the object will age over time. For instance, a drawing in felt tip pen might fade to nothing in a few years if not in the right environment. 

• Provenance – This is the history of ownership for an object. Understanding this isn’t just a hobby of purist collectors, knowing where an object has been and who has owned it can help with points 1 and 2, and also help you understand the pricing. 

A 1960s cocktail dress is worth a few thousand dollars, but what about that same 1960s cocktail dress worn by Marilyn Monroe when she sang happy birthday to John F Kennedy? In 2016, it sold for $4.8 million at auction.

• Love it and Live with it – This one burning passion can override all of the other points and is so important. But remember not to get caught up in bright white lights of the pre-auction exhibition or flashy online catalogue. Take time to imagine what it will be like at your home and always ask for extra images if needed. 

• Price Comparison – It has never been easier to compare the price of everyday goods and there is no reason why auctions should be any different. But whilst you are digging through the different options, keep an eye out for any extra fees auction houses might charge. Most charge a buyer’s commission of 15-25% plus various taxes and shipping, making the final price far more expensive.

• Buying for Investment – Don’t. My advice is to buy because you love it and can't live without it. 

• Explore the Bidding Methods – If you can’t make it to the auction, most auction houses have several options for remote bidding: 

1. You can send absentee bids, also known as ‘written bids’, for the auctioneer to bid on your behalf. 

2. The auction house can call you to take your bids over the phone as if you were in the auction room. 

3. You can also bid over the internet by watching a live-video feed of the auctioneer.  

I would always recommend bidding in person, there is nothing like being in the buzz of an auction room. But if you can’t make it, then telephone bidding is a close second. My tip for remote bidding is to telephone bid whilst watching the auction live-streamed.  

• Know Your Limits – Bidding in auctions is a lot of fun so it is important to know your limits and your maximum bids before the auction begins. If you are bidding with a partner or friend, then I highly recommend having that conversation before the auction begins. Not just on the price limit but also on which lots you actually want to buy.  

One famous story of spontaneous bidding going wrong comes from 1915 with a Wiltshire based barrister Cecil Chubb. Cecil and his wife Mary decided to buy a pair of curtains from an auction. So Cecil went on the auction day but got caught up in the moment and bought Stonehenge, one of the world’s most important prehistoric monuments. His partner wasn’t best pleased. 

• Speak with the Auctioneer – Let the auctioneer know that it is your first auction and they will keep an eye out for you during the sale. A good auctioneer is on your side and wants you to have an enjoyable experience so will slow down and help you through the bidding. 

• Keep Your Fingers Cross – Bid confidentially, relax, enjoy it and keep your fingers crossed. 

But at end of the day, collect with your eyes not your ears. If you truly love it then follow your heart and your gut. An object bought on this basis will be cherished for ever.   

Happy bidding and best of luck.