If you have bid on items online, you might think you know all there is to know about the auction process. When you attend one live however, you'll quickly discover they are something entirely different. The fast pace, noise, and all the activity going on all over the room can be intimidating as well as fascinating. If you have plans to attend one of the live Phoenix auctions offering estate items, you need to understand how the process works.
You should attend the previews. One of the advantages of bidding at a live auction is the ability to physically inspect all the items being offered. With an online auction, you hope you are looking at the actual items, but you can't be sure. If the contents of a box are on the online auction block, you won't be able to reach in and look at everything the box contains. Attending a live auction preview allows you to do all that, and to ask questions of the auctioneer's representatives.
Unless money is no object, setting a budget, and sticking to it, will be important. If you plan to bid on a big ticket item, you need to have an idea of what it's worth so you can bid intelligently. Researching the item online is one of the easiest ways to get a value. There are usually catalogs at the previews with descriptive information on all the items.
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.
A live auction is a lot of fun to attend. It is even more enjoyable when you participate. You might get a great bargain on something you've always wanted. You just have to remember to stick to your budget and not get carried away.
You should attend the previews. One of the advantages of bidding at a live auction is the ability to physically inspect all the items being offered. With an online auction, you hope you are looking at the actual items, but you can't be sure. If the contents of a box are on the online auction block, you won't be able to reach in and look at everything the box contains. Attending a live auction preview allows you to do all that, and to ask questions of the auctioneer's representatives.
Unless money is no object, setting a budget, and sticking to it, will be important. If you plan to bid on a big ticket item, you need to have an idea of what it's worth so you can bid intelligently. Researching the item online is one of the easiest ways to get a value. There are usually catalogs at the previews with descriptive information on all the items.
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.
A live auction is a lot of fun to attend. It is even more enjoyable when you participate. You might get a great bargain on something you've always wanted. You just have to remember to stick to your budget and not get carried away.
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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.
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