Cowan Auctions stands as a prominent name in the world of collectibles, offering a diverse array of items that pique the interest of seasoned collectors and first-time bidders alike. From fine art and historical artifacts to rare books and ethnographic material, Cowan Auctions provides a unique platform for acquiring pieces of significant value and interest. However, navigating the auction landscape, especially for a newcomer, can be daunting. Before you raise your paddle for the first time, understanding the intricacies of Cowan Auctions is paramount to a successful and satisfying experience.
Understanding Cowan Auctions’ Specialties and Scope
Cowan’s, as it is often colloquially known, distinguishes itself through its specialized departments, each helmed by experts deeply knowledgeable in their respective fields. This specialization ensures that items are accurately cataloged, authenticated, and presented to the appropriate audience. Their core specialties often include:
- American History & Militaria: This department frequently features Civil War artifacts, presidential ephemera, Revolutionary War items, and significant pieces related to American expansion and conflict. For enthusiasts of historical documents and weaponry, this is a prime area of focus.
- Fine Art: From 19th-century American landscapes to contemporary works, Cowan’s art auctions present a range of styles and periods. They often include paintings, sculptures, and prints by both established and emerging artists.
- Native American Art: One of Cowan’s most celebrated departments, this area showcases exquisite examples of Native American pottery, basketry, textiles, beadwork, and ceremonial objects from various tribes and regions. The provenance and historical significance of these pieces are often meticulously researched.
- Jewelry & Timepieces: This section features a dazzling array of antique and estate jewelry, including diamonds, precious gemstones, and designer pieces, alongside collectible watches from renowned makers.
- Books & Manuscripts: Rare books, historical documents, autographs, and significant literary manuscripts frequently cross the block in this department, appealing to bibliophiles and collectors of historical paper.
- Asian Art: Offerings in this category often include porcelain, bronzes, jades, scroll paintings, and other decorative arts from China, Japan, Korea, and other Asian cultures.
- Decorative Arts & Design: This broad category can encompass everything from Tiffany lamps and art pottery to modern design furniture and silver.
Before you even consider bidding, it’s crucial to identify which of these categories aligns with your collecting interests. Browse past auction results and upcoming catalogs will give you a clear picture of the types of items Cowan’s handles and their typical price ranges. This preliminary research is invaluable for setting realistic expectations and identifying potential targets.
The Pre-Bid Process: Research and Due Diligence
Once you’ve identified an item of interest within a Cowan Auctions catalog, the real work begins. The success of your bid often hinges on the thoroughness of your pre-bid research.
Catalog Review and Condition Reports
Every item offered at Cowan Auctions is accompanied by a detailed catalog entry. This entry typically includes a description of the item, its estimated value (the “estimate”), and sometimes provenance (the history of ownership). It’s imperative to read these descriptions carefully. However, catalog descriptions are not always exhaustive, especially regarding condition.
This is where condition reports become critical. For any significant purchase, request a condition report from Cowan Auctions. This report provides a more detailed assessment of the item’s physical state, noting any flaws, repairs, or restorations. Don’t be afraid to ask for additional photographs or even a video if something isn’t clear. Remember, all sales at auction are typically “as is,” meaning you are responsible for assessing the item’s condition before bidding.
Expert Opinion and Authentication
For high-value items, especially in categories like fine art or historical artifacts, seeking an independent expert opinion can be a wise investment. While Cowan Auctions employs specialists, a second opinion from an unbiased expert can offer additional peace of mind regarding authenticity and condition. This is particularly relevant for items where fakes or reproductions are common.
Understanding Estimates and Reserves
The “estimate” provided in the catalog is the auction house’s opinion of what the item will sell for. It’s a guide, not a guarantee. Actual selling prices can fall above or below the estimate depending on market demand and competitive bidding.
A “reserve” is the confidential minimum price agreed upon between the consignor (seller) and Cowan Auctions below which an item will not be sold. The reserve can be up to, but not exceed, the low estimate. If bidding does not reach the reserve, the item will “pass” or “buy-in,” meaning it remains unsold. As a bidder, you will not know the exact reserve, but understanding its existence is important.
The Bidding Process: Strategies and Logistics
With your research complete, you’re ready to participate in the auction. Cowan Auctions offers several ways to bid.
In-Person Bidding
For those who enjoy the excitement of the live auction environment, bidding in person allows you to soak in the atmosphere and react instantly to the bidding pace. You’ll need to register for a bidder number before the auction begins.
Absentee Bidding
If you cannot attend the auction, you can submit an absentee bid. You provide Cowan Auctions with your maximum bid, and the auctioneer will bid on your behalf, only going as high as necessary to secure the item, up to your specified maximum.
Telephone Bidding
For higher-value items, telephone bidding allows you to have a Cowan’s representative on the phone during the live auction, bidding on your behalf as you instruct them. This offers the immediacy of live bidding without requiring your physical presence.
Online Bidding
Increasingly popular, online bidding platforms allow you to participate in real-time from anywhere with an internet connection. Cowan Auctions often partners with major online bidding platforms, allowing for a seamless experience. Be aware of potential delays in transmission and ensure your internet connection is stable.
The Buyer’s Premium and Taxes
It’s crucial to factor in the buyer’s premium, a percentage added to the hammer price (the winning bid). This premium is how the auction house generates a significant portion of its revenue. The percentage varies but is typically around 20-25%. Additionally, sales tax may apply depending on your location and the item’s pick-up or shipping arrangements. Always calculate the total cost, including the hammer price, buyer’s premium, and any applicable taxes and shipping, before setting your maximum bid.
Post-Auction: Payment and Shipping
Congratulations, you’ve won your first bid at Cowan Auctions! Now, the final steps: payment and logistics.
Payment
Cowan Auctions will typically provide you with an invoice shortly after the auction. They accept various payment methods, including wire transfers, credit cards (though often with a processing fee), and sometimes checks. Be aware of payment deadlines, as late payments can incur penalties.
Shipping and Collection
You have two primary options for receiving your item:
- Collection: If you’re local or prefer to handle shipping yourself, you can arrange to pick up the item from Cowan’s premises. Be sure to check their collection hours and any required identification.
- Shipping: Cowan Auctions often provides in-house shipping for smaller items or can recommend third-party shippers for larger or more fragile pieces. Obtain shipping quotes in advance, as these costs can be substantial, especially for international shipments or oversized items. Ensure adequate insurance for transit.
In conclusion, bidding at Cowan Auctions can be a rewarding experience, offering access to a fascinating world of unique and valuable collectibles. By understanding their specialties, conducting thorough pre-bid research, familiarizing yourself with the bidding process, and accounting for all associated costs, you can approach your first bid with confidence and significantly increase your chances of a successful acquisition. Happy bidding!