Anyone have auction tips????

Pay attention to who is bidding for future reference. We have attended many many auctions and nothing irritates me more than the auction spotters on the floor starting the auction off with the first bid instead of waiting for someone in the crowd to start it off.

It's their way of running the bids up and we've learned to avoid auctions handled by the auction companies that allow this practice. My personal belief is that if you are working the auction than you shouldn't be bidding.

__________________
frugaltable.com
...................
Living a rich life frugally....

Also, go early to check out the goods - make sure they're worth your bid before you place it! Have fun - I love them!

__________________
Be a fountain, not a drain!

^()^
http://tubbsfarmstead.com/

Reminds me of one time I was at a small animal (chicken) auction. A lady was there obviously for her first time. She sat next to us and said that her and her husband (who had sent her) had bought a "vacation" home here in the Mtns and wanted Guineas. She had bid on some and I was trying to be nice and was trying to help her out in understanding some but, I didn't want to cause her to bid and buy something she didn't want or vice versa.
The auctioneer said these were the last guineas of the day (with babies). She didn't catch that part and said "my husband TOLD me to BRING SOME home". She bid up to $25 (x 7 I think). She didn't understand the part about "times 'Z'". I thought it was crazy high for some run of the mill birds. But the more I laughed about it, I realized that someone else was bidding against her and was willing to pay $24 each!

Just know what you're willing to buy and for how much. And remember, anything you see, you can find somewhere else at some point.

I also should have added:

Be aware of any "Buyers Premium" added to the sale. To me this is a crooked and dishonest way to for the auctioneer (company) to take your $. They don't have to split it with the seller. It add to your cost and a lot of times, you forget to figure this extra in and you end up paying more than you want, especially when its Hundreds or even Tens of $. 5% adds up quickly if you're not watching out...

Did I mention I think it's Dishonest??

Don't get in a rush to bid. Some of the best buys I've gotten have been when I let two other people do all the bidding and wear each other out while I ignored it, then I snuck in the last bid and surprised them both.

__________________
The internet - fueling paranoia and misinformation since 1873.

All good tips. About the only thing I can add that hasn't been said is once you have looked everything over and know WHAT you are going to bid on, and how MUCH you are willing to pay - once you are into the bidding - don't hesitate when bidding.

I've seen way too many auctions where the last couple of bidders get near the end and one of the people hesitate when bidding. (This let's the other bidder know that they are almost done bidding so chances are they will get it.)

It also let's the autioneer know that with a little prodding "Oh come on, it's only $2.00 more than your last bid." or "It's only money." or "You almost have it." will get the hesitant bidder to bid a couple more times - which puts more money in the pocket of the auctioneer as they get paid a percentage of the sales.

So once you know your price, bid, bid, bid without hesitating. Once the price has gone over your price you were willing to pay, just shake your head no when the auctioneer turns his attention back to you expecting you to bid again.

Also be sure to take your driver's license with you. Most autioneers will only give out numbers to people who have identification.

__________________
Michael W. Smith in North-West Pennsylvania

"Everything happens for a reason."

In Ohio you can count on paying a "premium" if the auction is held on property owned by the auctioneer company. State law requires it.

Curtis,
I don't know where you are in Kansas, but I have lived in southeast Kansas most of my life. The auctioneers around here have been doing it forever. They don't want to cheat anyone. They do want to get as much money for the seller as possible but they know junk from good stuff.
You have had lots of good advice. If I really want something at an auction; I go early and check out the ware, I set an amount in my head for top bid, I will go in close and bid on a few things and buy them too. so the auctioneer recognizes me as a serious bidder. When he gets to the real object of my desire, I stake a claim by it and bid aggressively that includes making the first bid. It depends on how badly I think I need something.

__________________
Living the good life in Kansas.

Careful there. One time a bunch of us put all our old stuff in and had an auction. One appliance came up, the auctioneer asked my friend if it worked. She said "it worked great last time I used it", and then it sold. She mumbled to me, next time I tried, it didn't work, and I didn't use it.

Really? That's just kinda crazy to me.... If it's a tax (aka the state) gets it, I'm not happy but I won't complain but the added bonus to me is kinda crooked. Yeah I know it's posted but I'd rather pay the 5% more and the seller get his cut. That way you have more seller/buyer transaction and to me keeps regular customers in each auction.

MS - I got a different philosophy on bidding and hesitation. Sometimes I like to hesitate even though I know I'll bid. To me, the other bidder may not go any more in fear that he'll actually end up with it. Or (more common I think) You won't get other bidders jumping in at the end thinking it's something that's worth it. But I do it too when I'm buying something from a salesman. Don't show you're too excited, and perhaps it will be cheaper... just my ideas, don't mean your way is wrong...

Curtis B
If this is not an absolute auction do not go. Remember if it is an absolute auction and you are the high bidder the seller cannot change his mind. I have had to remind the auctioneer that the sale was advertised as absolute and the item is mine and it they want it back what my price is. Understand the conditions of the sale! Stand near the auctioneer and look to see who is bidding. You may observe the same person buying frequently. He may be buying back or running the price up. Watch what that person does when he is given the sale ticket. If he is wadding the ticket and not caring for it cease to bid on anything he is bidding on. If the person helping the auctioneer keeps getting in your face and trying to get you to bid one more time they are running the price up on you. Dress accordingly to give the impression to be able to buy/afford anything you are bidding on. If you wear a hat/cap try to have one on that may indicate you are a professional reseller of what you are bidding on. On the other hand, if you are bidding on a tractor watch the competition and try to understand his position. If the competition is a tractor dealer rather than continue to bid against him if the price is nearing your limit drop out. Then approach the buyer and ask if the tractor is for sale. Sometimes a buyer is just looking to make some money on the purchase and this approach may be cheaper than continuing to bid. At land auctions I do this. I watch who is bidding aggressively and I often buy a choice lot or a few acres in the midst of a larger tract. Then I see who buys adjacent lots or the entire tract and approach these folks to resell immediately. I just sell the bid # at my profit and let them settle with the auction company for my bid price. I do not think that I have ever attended an auction that something did not sell for a bargain. Being an informed buyer is the best advice that I have.

__________________
Agmantoo
If they can do it,
you know you can!

Don't act like a kid who really wants that toy. Make the auctioneer "work" you to raise your bid. IOW, act like you are just about ready to walk away before you bid when the price is reaching your set point. YOU HAVE TO HAVE A SET POINT where you will go no higher and be willing to walk away once it reaches that point.

__________________
Remember, when seconds count. . .
the police are just MINUTES away!

Congress has no power to appropriate this money as an act of charity. Every member upon this floor knows it. . .Davy Crockett

Never open a bid for more than a dollar. And never be the first bidder.

My advice is exactly opposite of the above.

I always try to be the first bidder, and (if it's something I really want), I'll start bidding at a reasonable price (say, 5% to 10% of what I think it's worth). Being the opening bidder means that everybody else has to out-bid you.

That said, know what the auctioneer's minimum bid is. Most times, these days it's one dollar. If the auctioneer can't get a one dollar bid, he'll either 'no sale' it, or put it with something else, and most times that 'something else' will be stuff you don't want. I've passed up a lot stuff at auctions because of that.

One other thing. Bid on stuff. Don't waste your money, but if there are items that you could use, and are bargains, then start the bidding! You don't have stay in, but it makes the auctioneer look for you, so that when he actually gets to what you want, he'll see you.

ETA: Auctioneers like the guys who get the bidding started, even if they don't win the bid. I think that can give you an 'edge', so to speak. I'm pretty sure that sometimes I've won bids because I start the bidding.

Has anyone mentioned how addicting Auctions can become?!

__________________
"At The Worlds Beginning There Was A Mother"
~ Chinese Tao Te Ching~

Be aware that some auction companies charge a premium for using a debit or credit card, anywhere from 5-8% of your total bill.

Know what something is worth before you bid on it. Make sure you figure in any repair cost as well. DONT get caught up in the bidding. Set your price and DONT go over it.

__________________
Gary in Central Ohio

Here's another one. Go on a cold and/or rainy day. A lot fewer people usually means better prices.

__________________
Remember, when seconds count. . .
the police are just MINUTES away!

Congress has no power to appropriate this money as an act of charity. Every member upon this floor knows it. . .Davy Crockett

Never be the first to bid on an item.

watch for owner bidders. this is were the owner of the item bids against you to raise the price. If you plan to bid on something pricey, like a horse trailer, find the owner at the auction. then watch if he/she bids against you. If they do and it is just you and him, make a long hesitation on a bid, make them think this will be your last bid. He will not bid again, he knows he will be stuck with his trailer again. I see this a lot at auctions. Biggest scam going. I bet those guinea's were bid up by the owner.

I get really great deals at auctions. My latest deal was a kawasaki 350- 4 wheeler for 300$. People were afraid to bid, as the plastic was all unscrewed off. But the motor turned over so I know it wasnt seized. Took it home tossed in gas and it fired right up. Nothing was wrong with it. I just screwed all the plastic back on. Another ace deal was my 212 john deere riding mower, brand new deck with dealer tag still on it and run excellent for 100$. even a battery and full tank of gas. woo hoo. these were middle of winter deals when there is little competition.