Anyone have auction tips????

springvalley · #41 02/25/11, 05:18 PM

Go early enough that you can figure out the auctioneer, get to understand his auction chant. That way you can understand him when he gets to your item. Know where you want to stop, and don`t vary from that much, unless it is a real good item and is worth a bit extra. And NEVER ever bid against a woman, they don`t know when to stop. HeHe just jokin ladies (not really). Buyers premium is not done everywhere and they have to advertise that they do that ahead of time, and this is a fee the nasty little auctioneer gets, not the seller, I think they could call it double dipping. When your bidding look around and see if you know who else your bidding against. Some sneaky auctioneers pull bids out of the air and raise your bid, not legal in most states. I was a auctioneer for 26 years, and did a good job at it and never pulled stuff on bidders, they will keep coming back to your auctions if your honest. I still think auctions are the best place to buy and sell items, it is a fair open market, and eveyone knows what is going on. Some buyers have no idea what prices are for items and I have seen auction items used bring more than new. Do your homework !!!! Watch the crowd !!!! Watch The auctioneer !!!! And most of all HAVE FUN. I enjoy a good auction. > Thanks Col. Marc

tinknal · #42 02/25/11, 05:29 PM

Quote:

Originally Posted by nc_mtn

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??

I absolutely refuse to attend a "buyers premium" auction. I've even considered starting a campaign to boycott or outlaw them.

tinknal · #43 02/25/11, 05:38 PM

Quote:

Originally Posted by watcher

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.

I totally disagree with this. Bid vigorously until your set price, and then walk away. This is the reasons auctions last 10 hours, bid digging auctioneers, and slow bidding buyers. I always bid on a few small items, and when I quit bidding I do it instantly and cut off all eye contact with the auctioneer. They figure out real quick that they will get no blood out of this turnip, and know that they can't play games with me.

springvalley · #44 02/25/11, 05:43 PM

Quote:

Originally Posted by marinemomtatt

Has anyone mentioned how addicting Auctions can become?!

Oh how true this is, I use to go to several a week as a young man, then went to auction school and became one, was in the business for 26 years, and enjoyed all most every bit of it. > Marc

tinknal · #45 02/25/11, 05:44 PM

Don't be afraid to start the bidding at a low price. Say that there is an item that is legitimately worth $100. The auctioneer will try to start the bidding at $200., then slowly back down. Instead of playing this game shout out "Ten dollars!". They will usually take your bid, and go from there.

Ed Norman · #46 02/25/11, 05:55 PM

Quote:

Originally Posted by tinknal

I always bid on a few small items, and when I quit bidding I do it instantly and cut off all eye contact with the auctioneer. They figure out real quick that they will get no blood out of this turnip, and know that they can't play games with me.

When I hit my set price, the auctioneer will look to me for the next bid and I just give him one quick head shake no. He tries a few more times on other items but learns when I say no, I mean no.

springvalley · #47 02/25/11, 06:02 PM

Quote:

Originally Posted by tinknal

Don't be afraid to start the bidding at a low price. Say that there is an item that is legitimately worth $100. The auctioneer will try to start the bidding at $200., then slowly back down. Instead of playing this game shout out "Ten dollars!". They will usually take your bid, and go from there.

This won`t work all the time, remember the auctioneer is the boss, and he works for the seller not you "the buyer" It is his job to get the most out of the auction for the seller. You never want to make the auctioneer mad, it can be the worse thing you ever do. I have asked people to leave an auction before because they are so disruptive, they try to run the show, and that was my job. One thing I also have done is people would love to smoke right in front of the auction truck and I would have to ask them to move, I can`t stand second hand smoke. I went to an auction one day and I had a hard time understanding the auctioneer, I can see why some people have trouble. Have fun Curtis, buy well. > Thanks Marc

tinknal · #48 02/25/11, 07:29 PM

Quote:

Originally Posted by springvalley

This won`t work all the time, remember the auctioneer is the boss, and he works for the seller not you "the buyer" It is his job to get the most out of the auction for the seller.

Oh, of course not, but most auctioneers want to go home too. I've noticed that a quick low bid will often entice a flurry of bids, and before long the bids will be above what the auctioneer was begging for seconds ago. I sometimes make a bid like this just to hurry the sale up. Pretty soon the auctioneer is looking at me to start the bidding, even if I'm not winning bids. There are definantly good auctioneers and bad auctioneers. The good ones are a joy to watch. The bad ones never see my money.

**clovis** · #49 02/26/11, 12:21 AM

Quote:

Originally Posted by agmantoo

I do not think that I have ever attended an auction that something did not sell for a bargain.

Very, very true.

**clovis** · #50 02/26/11, 12:24 AM

Quote:

Originally Posted by Steve L.

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.

As a veteran auction attendee, this is very true advice.

**clovis** · #51 02/26/11, 12:33 AM

Quote:

Originally Posted by tinknal

I absolutely refuse to attend a "buyers premium" auction. I've even considered starting a campaign to boycott or outlaw them.

In central Indiana, the state auctioneer's association is the group responsible for starting buyer's premiums in our area.

Several years ago, there were virtually no auctions with buyer's premiums, and now, nearly every auction company has enacted a BP with every sale.

I'm sure most of them are seeing tremendous profits from their added 'auction tax'. Most people get caught in auction fever and never even think about the added 10%.

On the other hand, I've seen this new wave of BP's nearly destroy a few auction companies, even though they would never admit it. The BP alienated their best customers, and then items started selling for much, much less, so sellers quit bringing items to them...it has been a downward spiral since then. Aside from an occasional estate, it is mostly $2 boxes of trash that they are trying to sell.

I wonder how much longer some of these auction companies will still be in business.

vicker · #52 02/26/11, 12:49 AM

Buy your hand tools, such as shovels, rakes, mattoks, spud bars, hoes..... at these auctions. You get WAY better quality and and usually for just a few dollars. Have fun. Watch and learn. If it goes too high on an item, you'll probably find one at another auction.

I could have picked up a very old barn loom in perfect condition with all the shuttles and everything for less than $200 a couple years ago. Nobody wanted it! I couldn't think of anywhere to put it. I should have gotten it. I don't think that'll come around again.
Oh, and don't kick yourself.

Sanza · #53 02/26/11, 01:02 AM

Quote:
Originally Posted by agmantoo
I do not think that I have ever attended an auction that something did not sell for a bargain.

Posted by Clovis
Very, very true.

And a lot of times I can kick myself afterwards for not bidding on those good deals

Sanza · #54 02/26/11, 01:04 AM

It's also a good idea to keep a written tally of all the bids you won so it's not a surprise when you go to pay for them at the end of the auction.

hotzcatz · #55 02/26/11, 04:17 AM

We do much better at yard sales than at auctions. It's usually quite rare that we will win the bid since there's almost guaranteed to be at least one person willing to pay more than us for whatever the item is.

If the item you want is in a box lot of stuff, watch and see who wins the auction (if you are outbid) and then ask them if they would like to sell you the item you were interested in. Saves having to deal with a whole bunch of other stuff you didn't want, too.

haypoint · #56 02/26/11, 06:37 AM

Don't go to an auction when it is sunny and nice, everyone will show up and drive prices up.

Don't go to an auction on a cold and rainy day, everyone thinks they can get a bargain because no one will show up, but everybody thinks this and all you'll get is cold and wet.

I love to go to auctions, but at the end of the day, I remind myself, "The good stuff goes for near new prices and there are lots of bargains for worthless, broken junk". If I'm going to pay near new prices, I'll go where I can return it if is defective. I already have enough worthless junk, not worth it at any price.

It takes awhile to understand what the auctioneer is chanting. Say you bid $20 and he starts in with 20, 20, 20, got 20 who'll give me 25, 25, 25 do I hear 25, sold. You may here 25 next to sold, but the price was still 20. If you are new at it, you might lose track of who's turn it is to bid. If you've bid 20 and he's yelling about 25, don't bid and raise the price on yourself. But is he can't get 25, he may drop to 22.50. You need to hear him get that bid, because now it IS your turn to bid 25. Study what he is saying and how it works on the stuff you don't want, so you don't get flustered when you are bidding for something you want.

If you decide on a top price, make sure that is the highest you'll bid. You don't want to be kicking yourself for not bidding that one last time. When it is sold, it is gone.

I hope to hear how it went.

MushCreek · #57 02/26/11, 01:05 PM

I don't know what the law is, but it's been years since I've been to an auction here in FL that didn't have a buyer's premium. They're usually 10% here. I go to lots of auctions, and have used various strategies. One is to resolutely hold your card up as if you have no intention of ever stopping. Make sure you pull it down if it hits your limit, though! Another ploy, if you really, REALLY want something is to jump the bid. Say there is an item that you would gladly pay $500 for, and the auction is diddling along at 200, 220, 240, etc. Shout out "$500 dollars!" Chances are, you'll freeze out the other bidders, and the item is yours. Bear in mind that you may overpay that way, but if you HAVE to have it......

I've also had luck approaching the winner of a box lot to see if they were after the same item I was. If not, offer a fair price for the one thing you wanted, and they'll be happy with the item they wanted.

oregon woodsmok · #58 02/26/11, 02:23 PM

Any auction I've ever been to, the people who run the auction are very patient about answering questions. So don't guess, ask how things are run.

I go early to inspect carefully and I write down the numbers of the items I want and I also write down my top price I will pay and I never go over that figure. If you want multiple items, it gets difficult to remember your top price or whether that lot was the item with the chipped rim or not.

In Oregon, at least, the spotters can be hired to bid for you. So just because the spotter is bidding, it does not mean he is just driving the price up.

All the auction regulars know that the spotters have customers and the auctioneer is very careful to be very clear about it. He'll point to his spotter and say something like "Your bidder is in, Ray, for $45".

There is one auctioneer at the local livestock auction that I simply can not understand, no matter how long I listen to him. So I never bid if he has the microphone. I wait until one of the other auctioneers takes over.

Use Less · #59 02/26/11, 02:39 PM

Look items over very thoroughly. It's yours once you buy it. Keep your stuff right with you, take it directly to your vehicle & lock it in, or take someone else who can collect & keep an eye on your stuff. Bid in a clear & confident way. Look at the auctioneer, not the other bidders. When you are done, let the auctioneer know by lowering your tag & shaking your head. With a smile. Good auctioneers start to recognize your style & the sorts of things you may be bidding on, and will look towards you if you are also communicating well to them. If you go to a few auctions with the same auctioneer & establish a good rapport & buy somethings, they once in a while hand you a "deal", too. Also, it can be just plain fun to bid a couple dollars on a box nobody seems to want. My last auction, I found a sealed 1/2 gal. of local maple syrup under some flannel tablecloths and kitchen oddments I bid on. I hardly spent more at the auction than that goes for at farm market. We're using it right now. Sue

plowjockey · #60 02/26/11, 07:27 PM

+1 on what use less said.

Auction thieves are amazing on what they will gladly grab.

Also, if you are considering bidding on a box, that has maybe one item, you are interested in, watch out for "switchers". They will wait until they think no one is looking and the take a popular item, out of one box and slip it into another. It's not dishonest or illegal, but you could end up paying a lot of money for a box of junk, minus your wanted item. Just make sure the item is in there when the box goes up for sale.

Have fun