Luxury auctions are thrilling opportunities to own rare jewelry, watches, coins, and art—but winning requires strategy. At Kravit The Estate Department, we’ve hosted countless auctions, helping collectors secure their dream pieces. Here are five insider tips to help you win big at your next luxury auction.
Tip 1: Do Your Homework
Research the lots beforehand. If a 1920s Cartier necklace is up for bid, check its auction history—Sotheby’s past sales (see here) can provide benchmarks. Knowing a piece’s value helps you bid confidently without overpaying.
Tip 2: Set a Strict Budget
Decide your limit and stick to it. A 1969 Rolex Daytona might start at $15,000 but soar to $100,000 in a bidding war. Factor in buyer’s premiums (often 20-25%) and set a cap to avoid overspending.
Tip 3: Register Early
Don’t wait until the last minute. Kravit’s auctions require registration to participate—sign up well in advance to ensure you’re ready when bidding begins. Early registration also gives you time to preview lots.
Tip 4: Bid Strategically
Start with a low bid to gauge competition, then bid incrementally. If a rare coin opens at $1,500, don’t jump to $3,000 immediately—let others reveal their limits. Stay calm, and don’t get caught in emotional bidding wars.
Tip 5: Leverage Kravit’s Expertise
Unsure about a lot? Our specialists can provide insights on value and rarity. We’re here to help you make informed decisions, ensuring you walk away with a piece you love. Ready to bid? Join our next auction.