Tips for Bidding at a Live Auction

Going to a live storage auction is one exhilarating experience. There’s truly nothing like it elsewhere, considering the amount money spent by bidders everywhere around the world.

If you’re a first timer, you must learn a few tips and tricks of the trade. This way, you’ll be able to get through your first live auction like a pro.

1. Do your research.

Know where it’s going to happen and who you’re going to be up against. It lets you have an idea on what to expect. Plus, it allows you to strategize.

2. Get there early.

One of the edges expert bidders have is that they arrive early. It’s good for you to be there before anything starts so you can inspect the items up for a bid.

3. Try not to make the first bid.

Unless it’s the bottom-feeding bid you’re after, don’t make the first bid. It’s good to see just how much money others are willing to put in certain items. Also, most that you’re up against are experts so let them take the lead.

4. Bring cash with you.

Another tip you shouldn’t disregard is to bring cash with you. You’d be surprised just how many auctions don’t accept checks or credit cards.

5. Know how much you’re willing to invest.

Auctions happen very fast. So make sure you know how much you’re willing to invest and how far you’re willing to go. The entire process is quick action and reaction. It’s best to have very keen eyes and ears so you won’t lose yourself in it.

6. Take note of the item quality.

The amount you want to invest on a unit should be fair to the quality of items inside it. Have a keen eye and see if it’s worth the money and if you find something surely valuable.

Live storage auctions are a great way to gain knowledge and experience. So give it a shot and enjoy your first hand live auction experience.

Leave a Reply