Everyone loves a bargain. Bargain hunters go to Salvation Army stores, thrift stores, garage and tag sales, estate sales, auction houses, and E-Bay. Live auction bidding is different from internet bidding. You can find bids in live auctions, but you need to know the basics of bidding to get them. What are the basics?
1. Preview items. Many auction houses post photos on their websites. These photos give you an idea of the variety of items, but may not show damage to them. Go to the auction preview and examine the items carefully.
2. Get a bid number. Most auction houses use auction cards or paddles. If you are interested in an item, please get a number before the auction starts.
3. Limited options. Determine which items interest you the most and how much you are willing to pay. “Don’t forget to consider any taxes and/or buyer’s premiums that may be added to the final offer,” says Castner’s Auction & Appraisal Service of Branchville, NJ.
4. Ask questions. This month’s auction may focus on furniture and next month’s auction may focus on china. Unless you ask, you won’t know this. Catalog photos may not tell the whole “story,” so don’t be afraid to ask questions.
5. Know the rules. Each auction house and auctioneer has different rules, according to auctioneer Tom DiNardo. He discusses some of the rules in his website article, “Rules of Bidder Etiquette and Auction.” According to DiNardo, the auctioneer is the final authority in all matters.
6. Learn the lingo. Castner’s Auction & Appraisal Service has posted some definitions on their website. You can also familiarize yourself with auction jargon by watching televised auctions. Understanding auction jargon will help you avoid bidding mistakes.
7. Listen to the auctioneer. This can be difficult if there are two auction “rings”, two auctioneers working at the same time. The auctioneer will notify buyers of damaged items and duplicate items for sale. He or she will announce the items that have been added to the auction at the last minute.
8. Bid correctly. Keep your number up so the auctioneer can see it. Bid according to the auctioneer’s dollar increments. Don’t nod your head or the auctioneer will think he raised the bid. On the other hand, if you want to leave the auction, just shake your head and say “No.”
9. Pay on time. Auction houses expect you to pay for purchased items immediately. The cashier will tell you if the auction house accepts personal checks and credit cards.
10. Purchased “child care” items. Keep an eye on the big items you bought or put away the small ones. As Castner’s Auction & Appraisal Service points out, “if someone steals your item after you’ve bought it, you’re responsible.”
Auctions are fun even if you don’t buy anything. They are great fun when the bidding gets fierce. When you get home, you can laugh at the bidder who overpaid. You can admire the bidder who found the bargain of the year. Auction houses still have bargains and knowing how to bid will help you get them.
Copyright 2007 by Harriet Hodgson