12 Tips for Shopping An Auction 4

There’s nothing quite like the thrill of an auction! The excitement starts when you spot something you are anxious to purchase. You set your mind on that item and your heart beats a little bit faster. The auction starts as you anticipate that first opening bid! You wait… just a minute… until someone places a bid. Then you swoop in, raise your hand and place the next bid. Your heart is beating much faster now and your competitive streak has started. Someone places another bid. You wait… just 30 seconds… then you raise your hand and place your second bid. You’re starting to sweat at this point, hoping you win (and stay within budget). You wait for it…. No one else bids! You hear those glorious words “…going, going, SOLD!” and you’ve won the item!

Auctions are a really fun place to find vintage items! But they can also be somewhat intimidating when it’s your first auction. Here are some tips to help you through that first experience:

#1 Be an Observer

Get to know the players. Who are the dealers who buy lots of things? Who are the collectors who came for one item and are determined to get it? Who are the people buying things for their own use? Auction houses tend to have some of the same buyers at all their sales. You can figure out your bidding strategy if you know how others bid.

#2 Don’t Bid First

If you are new to auctions, you may want to let others start the bidding on items you are interested in. The auctioneer will start the auction at a certain price. If no one bids right away, he or she will drop the price slightly until someone starts bidding. By allowing other, more seasoned bidders to start the bidding, you will probably have a better chance of winning the item at a better price, than if you started the bidding at a price closer to what you are willing to pay.

#3 Be Upfront

Sit or stand in the front, near the auctioneer. This allows you to see clearly and hear about the items that are being put up for bid, and it helps to ensure you are seen and acknowledged by the auctioneer (or their helpers) when you place your bid.  Being nearby also allows you to ask what the current bid is, so you know how much you are actually bidding (see #11).

#4 Put on Your Poker Face

Really. If you show excitement about finding an item you want to bid on, you call more attention to it (and to you) and chances are more people will bid against you.

#5 Don’t Be a Sniper

No one likes a sniper and it will give you a bad reputation among the people who attend the auctions. A sniper is someone who places their first bid at the very last minute before bidding closes. If you are truly interested in an item, it’s better to bid on it at some point before the bidding ends for that item. At that point, if you bid at the very end and win the auction, you are not seen as a sniper – mainly because you had already been invested in the bidding.

#6 Lose Graciously

If you lose an item to another bidder, it’s best to do so with grace. Don’t show emotion or complain – you’ll only attract attention to yourself. You may see the same people attending all the same auctions you attend, so by avoiding calling attention to yourself, you may be able to avoid a potential rivalry.

#7 Haul It Home

Make sure to bring along anything you need to get your purchases home safely. Things like boxes or bags to contain small purchases, bubble wrap or other padding to protect delicate items, furniture blankets to protect the surfaces of furniture, and rope or tie-downs in case you need to haul something home on the roof of your vehicle. Obviously, if you will be bidding on large items, be prepared to haul them home by driving an appropriate sized vehicle – SUV, van, pickup truck, or bring a trailer.  Don’t be “That Person” who tries strapping a china hutch to the top of your sub-compact car with a garden hose.

#8 Plan Your Day

Some auctions can be very long. Make sure you plan enough time in your schedule to stay until the items you are interested in come up for bid. Bring water, snacks, and even a portable folding chair with you for the day-long auctions. If the auction is being held outside, you’ll also want to make sure to dress appropriately for whatever the weather may be. Bring an umbrella for rainy days or to provide shade on hot and sunny days.

#9 Know Your Auctioneers

Get to know your local auctioneers. When you establish a relationship with them, they’ll know the kinds of things you are looking for, and oftentimes will give you advance notice of upcoming auctions that contain items you like. Sometimes you can even preview those items long before the preview is open to the public. It’s nice to have that “inside information”.

#10 Know the Schedules

Some auction houses have a regular schedule of auctions each month, and the auctions they hold are often within their specialty. For example, some auction houses deal with commercial businesses, some with liquidating estates, others specialize in farm auctions. Getting to know your local auction houses will help you decide which auctions to attend. Don’t be afraid to branch out! Attend auctions in rural communities, auctions in industrial areas of the city, or auctions in affluent neighborhoods. You never know what you will find!

#11 It’s a Final Purchase

Remember that a bid is a final purchase. Only bid on things you really want to take home with you – you can’t change your mind after winning the bid.  Oh, and stick to your budget!  Bidding in an auction can be a thrilling experience – and it’s easy to get swept up in the momentum.  Don’t get sucked in.  Set a maximum bid for yourself, and STICK TO IT!  Nothing worse than “bidder’s remorse” when paying way more for an item than you intended.

#12 Remember What You’ve Bought

Make sure you keep a list of all the items you’ve bought, as well as how much you’ve spent on those items. This will help you pick up your items when the auction is over and will ensure you don’t leave a treasure behind.

Bonus Tips

Not sure where to find an auction near you? Here are some sources:

• Search your local newspaper for ads (in print or online) about auctions in your area.
• Auctions are often listed on Craiglist – search “auction” to find the ones near you.
• Use a website such as EstateSales.org or EstateSales.net. Both of these websites typically list estate sales in your area, but they also list auctions. 
• AuctionZip and LiveAuctioneers are two other good sources for finding local, national, and online auctions.

Do you have a tip for shopping auctions?  Share in a comment below!

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