Tips for Attending a Live Auction
Live auctions can be an exciting outing if you know what you are doing. Practically anything can be bought and sold at an auction. Many people are at first intimidated by live auctions, they find it difficult to follow along and they cannot understand the auctioneer.
Auctioneers are professionally trained and they really know their stuff! In order to get a better feel for what happens at a live auction, it is a good idea to attend a few auctions as an observer rather than a bidder. Some people will feel comfortable after attending just one auction, while others will need several visits before they are confident enough to place a bid.
If you have seen a movie with a scene of an auction, you will see people pulling on their ear lobes or scratching their chins to place a bid. I have never seen this happen at an auction. When you attend an auction, you will be given a card or piece of paper with a number on it. You simply hold it up for the auctioneer to see when you want to place a bid.
All live auctions allow you to view the items beforehand. This is usually done the day of the auction, several hours before it actually begins. Take as much time as you can to walk around and inspect the items. This is an important part of the whole process. You want to have as much information as possible before placing any bids. The viewing time allows you to set a maximum price that you are willing to bid. Take a little notebook with you to jot down notes on the items of interest to you.
This maximum bid is where you stop bidding, you do not want to overpay for an item. Believe me, you can get caught up in the excitement of a bidding war with a rival bidder. If money is no object and you really want that particular antique then bid away! Keep in mind that there are additional costs incurred on top of the winning bid. Most auction houses charge a premium, which could be ten percent of the winning bid plus taxes on the winning bid. These two charges are added to your total cost of winning the item.
There are several ways that you can locate live auctions in your area. One way to locate them is to perform a search on the internet using your favorite search engine. Your local newspaper should also list any upcoming auctions. Many Estate sales are settled by public auction. Auctions are a great way to find some fabulous old treasures. Your local Police department may hold an auction once or twice a year to get rid of all the unclaimed belongings they have recovered throughout the year. I have found some nice bicycles at these auctions. One tip for you bicycle owners, record your serial number so that if it is stolen, you can provide that number to the police, providing the thief did not remove it. It is surprising how many recovered bikes are left unclaimed.
Live auctions can be a lot fun, so educate yourself and get out there and bid!
