The auctions most people participate in occur online. If they ever actually attend a live auction, people are always surprised by the speed, the noise level, and the activity that goes on all over the auction venue. It is fascinating and can be intimidating. Before you bid at one of the live Phoenix auctions, you need a crash course in the way this 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.
Unless you have unlimited funds, you need to set a budget for yourself and stick to it. When you are interested in big ticket items, it's a good idea to do some research so you will know when to stop bidding. If you have attended a preview, you should already have a catalog listing what is selling.
Once you get to the auction, you will have to register. You'll get a bidder's number. The number may be on a card, a fan, or a paddle, but you will need it in order to get the attention of the bid takers in the audience. Normally there is no charge for registering and getting a number.
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.
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 lots of fun. If you are lucky enough to be a high bidder, the feeling is exhilarating, especially if your item was a bargain. Sticking to your budget is important though. It's easy to get carried away and spend too much.
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.
Unless you have unlimited funds, you need to set a budget for yourself and stick to it. When you are interested in big ticket items, it's a good idea to do some research so you will know when to stop bidding. If you have attended a preview, you should already have a catalog listing what is selling.
Once you get to the auction, you will have to register. You'll get a bidder's number. The number may be on a card, a fan, or a paddle, but you will need it in order to get the attention of the bid takers in the audience. Normally there is no charge for registering and getting a number.
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.
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 lots of fun. If you are lucky enough to be a high bidder, the feeling is exhilarating, especially if your item was a bargain. Sticking to your budget is important though. It's easy to get carried away and spend too much.
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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.