If you have bid on items online, you might think you know all there is to know about the auction process. When you attend one live however, you'll quickly discover they are something entirely different. The fast pace, noise, and all the activity going on all over the room can be intimidating as well as fascinating. If you have plans to attend one of the live Phoenix auctions offering estate items, you need to understand how the process works.
Attending the previews will make you a better bidder. When you attend a preview all the items up for auction should be on display. Unlike an online auction, you know you are looking at the actual items for sale. If you have an interest in a box of contents, you will have the opportunity to dig in and see what it contains. Representatives of the auction company will be available to answer any questions you have.
You should set a budget and resist going over it. It's easy to get caught up in the excitement, or a bidding war, and spend way too much money. If there is an expensive item that interests you, it's a good idea to go online and research pricing. That way you will know when to stop bidding and let a competitor win.
You have to register to bid. In order to bid you will need a bidder's number. You get this when you register at the door. Numbers can be imprinted on cards, fans, or paddles. When you want your bid recognized, you raise the bid number so the bid takers can see it and shout out your bid to the auctioneer standing at the podium. Most times registering and bid numbers are free of charge.
Your first bid should not be your highest. You want to start bidding low and proceed from there. It may be difficult to understand the auctioneer's chant at first, but you will soon get the hang of it. The auctioneer has the right to accept opening bids that are too low and may require bidders to bid in certain increments.
Once the bidding ends, you will be told whether or not your high bid was accepted. If it was, you will be expected to pay for it in full and remove it as soon as you are finished bidding. The auction company usually has assistants to help move large or heavy items. They may even help load your things up, but you have to provide the truck or van to haul them away.
You need to understand the difference between an absolute auction and one with reserve. The seller has the right to put a minimum on the items being sold. If the minimum isn't reached, the seller has the right to refuse the high bid. At an absolute auction, everything sells regardless of the high bid.
Live auctions are fun and exciting. It's even more fun when you are actively bidding. You can get some great bargains if you know what you're doing. Sticking to a budget and not getting carried away are the keys to success.
Attending the previews will make you a better bidder. When you attend a preview all the items up for auction should be on display. Unlike an online auction, you know you are looking at the actual items for sale. If you have an interest in a box of contents, you will have the opportunity to dig in and see what it contains. Representatives of the auction company will be available to answer any questions you have.
You should set a budget and resist going over it. It's easy to get caught up in the excitement, or a bidding war, and spend way too much money. If there is an expensive item that interests you, it's a good idea to go online and research pricing. That way you will know when to stop bidding and let a competitor win.
You have to register to bid. In order to bid you will need a bidder's number. You get this when you register at the door. Numbers can be imprinted on cards, fans, or paddles. When you want your bid recognized, you raise the bid number so the bid takers can see it and shout out your bid to the auctioneer standing at the podium. Most times registering and bid numbers are free of charge.
Your first bid should not be your highest. You want to start bidding low and proceed from there. It may be difficult to understand the auctioneer's chant at first, but you will soon get the hang of it. The auctioneer has the right to accept opening bids that are too low and may require bidders to bid in certain increments.
Once the bidding ends, you will be told whether or not your high bid was accepted. If it was, you will be expected to pay for it in full and remove it as soon as you are finished bidding. The auction company usually has assistants to help move large or heavy items. They may even help load your things up, but you have to provide the truck or van to haul them away.
You need to understand the difference between an absolute auction and one with reserve. The seller has the right to put a minimum on the items being sold. If the minimum isn't reached, the seller has the right to refuse the high bid. At an absolute auction, everything sells regardless of the high bid.
Live auctions are fun and exciting. It's even more fun when you are actively bidding. You can get some great bargains if you know what you're doing. Sticking to a budget and not getting carried away are the keys to success.
About the Author:
You can get a detailed overview of the things to keep in mind when attending Phoenix auctions at http://www.brunksauction.com right now.
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