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.
If possible, you should go to a preview. With a live auction, you can physically inspect every item you are interested in. If your auction experience is only with the online variety, you will appreciate the fact that you can go through a box of contents before you bid on it. With an online auction, the photos might not even be of the actual items. There are auction representatives at the previews 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 in order to bid. When you register you'll receive a bid number. Some auction companies use paddles. Others use fans or cards. Whatever the form, it will be what you use to get the attention of the auctioneer's bid takers. In most instances, registering for a bidder's number is free.
You do not want to start off bidding with your maximum offer. Bidding is fast paced, and the auctioneer may be hard to understand at first. When an item you are interested in comes up for bidding, the auctioneer will suggest an opening bid. Most auctioneers will take all reasonable opening bids.
If you are bidding on multiple items, you can stay in the auction room until you are finished. Then it's time to check out. Payment in full is required at this time. Once you have paid for your items, you own them and are responsible for removing them. Some auction companies hire people to help bidders carry heavy items to their cars.
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.
If possible, you should go to a preview. With a live auction, you can physically inspect every item you are interested in. If your auction experience is only with the online variety, you will appreciate the fact that you can go through a box of contents before you bid on it. With an online auction, the photos might not even be of the actual items. There are auction representatives at the previews 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 in order to bid. When you register you'll receive a bid number. Some auction companies use paddles. Others use fans or cards. Whatever the form, it will be what you use to get the attention of the auctioneer's bid takers. In most instances, registering for a bidder's number is free.
You do not want to start off bidding with your maximum offer. Bidding is fast paced, and the auctioneer may be hard to understand at first. When an item you are interested in comes up for bidding, the auctioneer will suggest an opening bid. Most auctioneers will take all reasonable opening bids.
If you are bidding on multiple items, you can stay in the auction room until you are finished. Then it's time to check out. Payment in full is required at this time. Once you have paid for your items, you own them and are responsible for removing them. Some auction companies hire people to help bidders carry heavy items to their cars.
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.
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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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