How Auctions Work

How Auctions Work



Just about anyting you can think of​ can be found at​ an​ auction. Anything from jewelry, collectibles, boats, books,cars, household items; I repeat, anything and​ everything. That's the​ excitement of​ the​ auction.

You can find auctions in​ your area by various ways including your local newspaper who would have a​ section in​ the​ classifieds for​ auctions that will happen in​ the​ coming week or​ weeks. You can search for​ auction houses on the​ internet. if​ they have a​ web site, their upcoming auctions along with pictures and​ descriptions of​ items would be listed so customers know what is​ being offered. Usually, there are signs placed close to​ the​ auction site indicating an​ auction is​ taking place or​ will be soon. the​ ads or​ web site should also give directions to​ the​ location.

After you find the​ auction or​ auctions of​ interest, you need to​ check the​ time it​ starts. There should be a​ starting time for​ the​ auction and​ for​ viewing the​ items. Make sure you allow lots of​ time to​ get to​ the​ auction to​ check out the​ items. Then you will decide which items you want to​ bid on and​ how much you want to​ bid. Take a​ pad of​ paper and​ pen to​ make notes of​ the​ items and​ your top dollar you are willing to​ bid for​ the​ items. This will also be a​ good time to​ find the​ auctioneers and​ auction workers so you can get to​ know them. They have the​ all of​ the​ details about the​ items and​ should be happy to​ provide any information you require.

You will want to​ find out when the​ auction will start. Find out where the​ auction will start and​ what direction it​ will go. There may be more than one auction ring, if​ there are many items. Some auctions last for​ several days. Each auction ring will have an​ auctioneer, a​ recorder, and​ helpers. Find out how many rings and​ which auctioneer will be in​ which ring. Introduce yourself to​ the​ auctioneer and​ the​ workers so they will recognize you when you bid and​ be more apt to​ look your way for​ a​ bid. it​ is​ also an​ avenue for​ inside information to​ the​ type of​ auction it​ is, the​ type of​ items being offered, etc. Some auctions have multiple estates represented, so some sections of​ items may look like it​ doesn't really go with the​ other items. the​ auctioneer and​ workers should know this and​ will share that information with you.

There will be a​ payment and​ registration table which are usually together. You will want to​ stop at​ the​ registration table before the​ auction starts to​ register. They will need your name, address, phone number, picture ID, and​ tax number, if​ you have one.

The auction can be indoors or​ outdoors, so dress appropriately. You might want to​ think about taking a​ snack or​ lunch. There might be a​ vendor available near the​ auction. Check out where you want to​ park to​ get your winning items to​ your vehicle easily.

Each item will have a​ lot number or​ description associated with it. This information may not be on the​ actual item, but the​ recorder will have it. it​ will be on the​ tickets for​ each of​ your winning items. Keep track of​ what you were the​ winning bidder on and​ what the​ winning bid was. This way, you can match each up to​ your ticket when you check out.

The items up for​ auction are usually kept in​ boxes or​ flats. the​ items may be auctioned per box or​ per item. You should be able to​ request a​ certain item be pulled out of​ a​ box to​ auction separately, if​ you like. a​ lot of​ times, you can get a​ better bargain if​ the​ item you want is​ together with other items that may be less in​ demand.

The more expensive items are kept in​ locked cases with an​ attendant close by to​ open the​ case for​ inspection when requested. These items have been determined by the​ auctioneer to​ be more valuable pieces and​ will be auctioned individually. Since you have gotten familiar with the​ auctioneer, you will know where the​ auction will start. Get yourself in​ a​ position so that you can see the​ items as​ they are auctioned and​ so that you will be readily seen by the​ auctioneer for​ your bids. Make sure you have your bidder number card ready to​ show the​ auctioneer when you bid and​ also when you win an​ item.

Before and​ during the​ auction, as​ people look at​ the​ items, some may get moved from box to​ box. Make sure you pay close attention to​ what is​ being auctioned, in​ case some things were moved. When you win, make sure to​ take your winnings directly to​ your vehicle. Once you win the​ bid, the​ item or​ items are you possession and​ you are responsible for​ them. Items have been known to​ get up and​ walk away while you are not looking. it​ is​ best to​ keep an​ eye on your winnings or​ have another person attend to​ them and​ take them to​ your vehicle.

Depending upon the​ auctioneer, bidding may start at​ what the​ auctioneer thinks the​ item will eventually sell for. That offer may not get any bids, so in​ order to​ get people bidding, the​ auctioneer will lower the​ starting bid. if​ you are really interested in​ an​ item, you may want to​ bid first thing. This quick bid may scare off other potential bidders and​ you will win the​ item. Toward the​ end of​ the​ auction, there may not be as​ many people at​ the​ auction so this is​ a​ good time to​ get in​ on some good deals as​ well.

When you are ready to​ leave, you will need to​ go to​ the​ payment or​ registration table to​ pay for​ your winning items. They will have a​ list of​ items or​ a​ ticket for​ each winning item. Make sure the​ item and​ price match what you have recorded. it​ will be much easier to​ resolve any conflicts immediately rather than later. Good luck with your bidding!




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