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Auction Hammer

How to be an effective Auction Buyer

You have saved long and hard to make that killing at the auctions the following tips should make you a better bidder.

First things first, check it out!

Before going to an auction, try to get a catalogue of the items that will be traded. Check the catalog, do you want any of the items?
Call the auction house and confirm when and where the auction is to take place. Sometimes auctions have been cancelled at the last minute.

Do not be afraid to ask, scrutinize and inspect

Many of the items up for auction are old, used and not so new, so thoroughly inspect all items that you plan to bid on. Rarely is there a guarantee!

Auctions that involve motor vehicles usually allow a short time after the sale when the vehicle may be returned if found to have problems. Do not forget to ask the auctioneer about such details.

Decide your top price before the auction, and do not go over it

Sometimes, auctions could get very emotional as well as aggressive. It can be easy to get into a bidding contest. Stick to your maximum price.

Does the item come with a guarantee? Does this cost extra? Check if there is a buyers premium that you will need to pay. Are there any local taxes that will be charged?

Check the sale conditions for bidders prior to bidding. Consult with the auctioneers or read the catalogue.

Things may be subject to change

Try to keep in mind though that catalogues are not set in stone, any items in them are all subject to change.

Keep your eyes and ears open

Listen carefully to what the auctioneer is saying about a particular item. There may be changes about the description of the items as based on the catalogue.

In summary, buying at auction can be easy. You must go prepared and have done your research.

 

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