Page 22 - The Hunt - Summer 2020

HOME & GARDEN
The weekend action at Hill’s. (Below) Inventory on display.
Still, Secor, Beck and other buyers see
the value in vintage furnishings. The couple decorated their 4,000-square-foot home
in Fair Hill, Md., almost exclusively with pieces from auction. Their haul includes a handmade mahogany coffee table and prints signed by Jamie Wyeth, scion of the Chadds Ford family of artists. They sleep in a king- size bed they bought for $40. “It was painted blue, a really bad paint job that looked like
a kid did it,” says Secor. “We went to work on it, got rid of the paint and stained it in a glossy piano finish.”
Their biggest bargain so far is a Persian carpet that adorns their home theater room. The rug is so large, few bidders had space for
it. With minimal competition, it was theirs for a scant $120. “We got it home, unrolled it, and it had a $9,000 price tag on it,” Secor says.
The couple has finished furnishing their home, but they still go to auctions, picking up art, accessories and other pieces. If they see furniture they like better than something they already have, they buy it and resell the old piece.
Going, Going, Gone
Inside the cavernous gallery, prospective bidders inspect the goods, opening drawers to scrutinize the quality of dovetail joints, lifting
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KNOW YOUR AUCTION LINGO
Absolute auction: Every item sells to the highest bidder, with no reserve or minimum sale price.
As is/where is: All items sold exactly how and where you see them at the time they’re offered; no returns or guarantees.
Bid: Dollar amount offered
Buyer’s premium: Typically 15-18 percent, this is added to the selling price to determine the total purchase price.
Consignor: Seller. Hammer price: The final
bid amount.
Knock down: The end of bidding, when the auctioneer closes
the lot.
Lot: Item(s) up for bid.
Reserve: The lowest sale price for an item. Confidential and set by the seller or auction house.
Telephone bid: Bidding in real time over the phone during an auction. For those unable to attend in person.
table made in Philadelphia around 1750. It fetched $8,125. A pair of Federal carved mahogany side chairs, circa 1800, sold at Freeman’s for $1,690.
All in the Family
Jim Hill grew up in the business founded by his father, Shorty. Now 66, he’s seen major shifts in the industry. Business boomed in the early 2000s but stumbled after the recession in 2008, when there were more consignors than bidders.
Today, despite a stable economy, it’s still a buyers’ market as supply continues to outstrip demand. “The baby boomers are downsizing, and their kids don’t want that stuff,” Hill says.
20 THE HUNT MAGAZINE summer 2020