Category Archive Bidding Tips

15 Auction Do’s and Don’ts – Bidding Tips for Beginners

15 Auction Do’s and Don’ts – Bidding Tips for Beginners

For collectors and bargain hunters, there’s nothing like the excitement of a live auction. Auctions are equal parts sport and shopping. They’re also prime sources for furniture, artwork, and accessories. Learning how to bid at an auction is just one step. If you’re looking for beginner auction tips, read these do’s and don’ts before you bid.
Do Check The Payment Terms Before The Day of The Auction.

Make sure the auction house accepts checks or credit cards if those are how you plan to pay.

Ask about deposits and extra charges also. At some auctions, you have to put down a refundable deposit when you register to bid. Some also add a buyer’s premium to the hammer price, which is your winning bid.
Don’t Wait Until You’ve Won to Check on Pick-up And Delivery Options. Read More

The psychology of auctions and tips on how to bid

The psychology of auctions and tips on how to bid

BIDDING at auction is like a sport. There are competitors, spectators, an umpire, game plans, and in the end, there are winners and losers.

It isn’t as easy as turning up with a price limit in mind and calling out some numbers. There is actually a lot more strategy, endurance and psychological tricks involved, reveals Damien Cooley of Cooley Auctions.

Auctions are touted as the most transparent way to sell a house — and they are. The open market determines the price, rather than a closed door deal between a seller and buyer.

But auctions also thrive on momentum, which is why you can turn up confidently only to be left in a spin within a matter of minutes because the property you thought was in your price range just sold for money you can only dream of.

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