How to Buy Furniture at Auction: A Beginner’s Guide

Ever walked into someone’s home and instantly thought, “Where did they find that piece?” Chances are, they didn’t nab it off a showroom floor – they scored it at a furniture auction. 

If you’ve ever wanted to grab designer-style furniture without the designer price tag, now’s the time to learn how furniture auctions work. And don’t worry, you don’t need a paddle or a monocle – just a bit of know-how, a set budget and a willingness to raise your hand (or mouse) when the moment’s right.

How Furniture Auctions Work

Let’s break it down. A furniture auction is an event – either live in person or online – where furniture and home renovation items are sold to the highest bidder. At Renovator Auctions, live auctions happen weekly, offering everything from beds and bathroom vanities to fridges, tiles and tapware.

Items are grouped into lots and displayed in catalogues ahead of time. On auction day, a professional auctioneer calls out each item and registered bidders place their bids. It’s fast-paced, fun and, frankly, addictive. The highest bidder at the fall of the hammer wins the fabulous item – simple as that.

If you can’t attend in person, Renovator Auctions also accepts absentee bids. That means you can submit your maximum bid ahead of time and let the team handle the rest, so no need to miss out on a bargain just because life got in the way.

Set A Budget (and Stick to it)

Here’s the golden rule of auctions: it’s easy to get caught in the excitement. That’s why we always recommend setting a realistic budget before bidding begins. 

Work out what you actually need for your renovation project, browse the catalogue ahead of time and put a cap on what you’re willing to spend for each item.

A little planning goes a long way. If you’re renovating your laundry, for instance, you might need a washing machine, cabinetry and some flooring. Add up your ideal spend and prioritise your top items. Then walk in (or log in) knowing your limit – and stick to it. 

Winning is great, but not if it busts your budget.

Understand Bidding Increments and Strategy

When you hear the auctioneer say, “Do I hear $100? $110? $120?”, they’re using bidding increments – small set amounts by which the price increases. These increments vary depending on the item value, but usually fall within $10 to $100.

If you really want something, don’t hesitate to bid confidently early. It shows you’re serious and can sometimes shake off the competition. But don’t get carried away. If it gets too pricey, bow out with grace and move on – there’s always another gem just around the corner.

Inspect Before You Bid

This is one of the biggest perks of Renovator Auctions’ live events. You get to walk through the warehouse, inspect the items in person and ask questions before bidding. 

Want to check the stitching on that sofa? Go for it. 

Need to know if the fridge comes with shelves? Just ask.

While some items are brand new or showroom stock, others may be ex-display or unboxed. It’s worth taking the time to look closely so you know exactly what you’re bidding on. Think of it as window shopping – with a whole lot more excitement.

Learn the Lingo

To feel confident at auction, it helps to know a few key terms:

• Reserve Price: The minimum price the seller is willing to accept. If bidding doesn’t meet this, the item may be passed in.
• Hammer Price: The final winning bid amount before any additional fees.
• Buyer’s Premium: A small percentage added to the hammer price, paid by the buyer (Renovator Auctions’ premium is 17%).
• Lot Number: The specific code assigned to each item up for auction.
• Absentee Bid: A pre-submitted bid for those who can’t attend.

With just a few of these terms under your belt, you’ll sound like a seasoned pro in no time.

Browse, Bid and Save With Renovator Auctions

Navigating your first furniture auction is easier than you think, especially with Renovator Auctions. Their online catalogue is updated weekly, showcasing hundreds of items across home renovation and building categories. Whether you’re searching for timber flooring, bathroom tapware or a sleek new oven, you can explore the listings, set your goals and bid smart.

Their team is welcoming, knowledgeable and genuinely excited to help you get the best result. Whether you’re sprucing up a single room or renovating an entire house, it’s the perfect way to score quality without the retail price tag.

Learn how furniture auctions work – bid smart, save big today!