Sharp Shopping Tips For Live Auction Newbie’s

Some people have turned live auctions into a hobby. That means they probably love a great bargain or scoring those “diamond in the rough” kinds of deals. The same people might also be the ones who enjoy reselling those bargains they find at a live auction for a profit. This type of shopping can be addicting if you aren’t careful! Of course, if you are a live auction newbie, chances are that you have been somewhat hesitant about stepping into that sometimes-chaotic foray.

Live auctions are nothing to be afraid of! Just think of it as one big bargain party where everything is at just the right price. You will typically find a live auction in a number of venues. For instance, if someone died, their heirs might hold an estate sale to sell off the deceased’s belongings.

Or, if a person died without heirs, there might be a public auction held to cover unpaid expenses. Other instances where you might find live auctions include police auctions, charity fundraising events, and police or government auctions.

Part of succeeding in your entrée into the live auction scene includes attending the auction preview. Basically this is like a showing of all the items that will be on sale before the live auction commences. Usually these previews are held a few days before the actual live auction. This is the perfect time for you to scope out the items you are most interested in.

Also, you can test any items such as appliances to ensure that they actually work. For the auction preview, you will want to bring your “live auction arsenal” which consists of a notebook and pen, a camera, a flashlight, and even an extension cord and tape measure. By measuring the items that you are interested in, you can be sure that the item will work nicely for you.

Make note of all the items you are interested in as well as their general condition and probably resale value. By doing this, you are basically determining what will likely be a fair bid for the item. Plus, you will know exactly how much it would cost to repair if that was needed. You want to know all the possible factors so that you can be prepared at the live auction.

As a newbie, you will want to determine what the payment methods are in advance of the live auction. If you place a bid on an item and win, you are expected to cough up the money to pay for it. Knowing their payment methods will give you indication as to whether or not you will end up carrying a lot of cash or not.

Timing is everything at a live auction. You should expect that any auction held on a weekend will be well-attended, so there will be a lot of competition for items. Receive a better chance of bidding and winning an item or two by scoping out any live auctions that take place on a weekday. There will be less competition that way. Don’t forget to join a few mailing lists so that you can be apprised ahead of the public of live auctions.

Once you are at a live auction, don’t seem too eager by being the first person to bid on an item. Let the bidding start first before joining in. You don’t want someone to notice your eagerness and bid up the price to knock you out of the running for an item.

One last tidbit for the live auction newbie includes being prepared with boxes, blankets, packing materials and more for transporting your items. You want to be able to get your new items home in one piece.