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Tips For Estate Auctions: One Man's Trash

Skip the secondhand stores and bargain stores if you're wanting to furnish a home or apartment on a budget, whether you like antiques or not. Antique and estate auctions offer some of the best deals on anything from furniture to china to art and decorative objects, and you'll get superior quality things as well.

Auctions might be scary if you've never gone to one before. They move quickly, and putting your offer in can be intimidating. Here are some pointers to get you started.

Attend the sneak peek. Every auction has a preview period, usually the day before or the morning of the auction, during which you can see what will be on the auction block. This is your chance to examine furniture, browse through box lots, and ask questions of the auctioneers. If you know exactly what you're bidding on, you'll feel more assured.

Decide how much you're willing to pay for the items you've chosen before the auction begins, and stick to it. It's tempting to get caught up in the excitement of the auction and bid more than you can afford. You may also become discouraged from bidding if you notice that others are not. You can avoid these problems if you know how much an item is worth to you.

Register as soon as possible. Arrive early to the auction to register for your bidder's number and avoid becoming flustered. The procedure is simple, but if you're still in line when the auction begins, you're already behind schedule.

Save money and bring cash with you. A buyer's premium will be charged to anything you buy at many auctions. This money is given to the auctioneer. While you will most certainly be able to pay with a credit card, cash, or check, purchasing in cash generally results in a lesser buyer's premium.

The initial bid is the most difficult. Putting your initial bid can be nerve-wracking, but it's as easy as throwing your number into the air. Your subsequent bids will be easy once you've broken the ice. If you think the auctioneer isn't paying attention to you, say something like 'yes' or 'over here.'

Get a head start on the bidding. An auctioneer may begin with a greater opening bid, then gradually drop it until someone makes the first bid. Lower starting offers frequently attract more bidders who would not have been interested otherwise. Bidding as soon as the auctioneer reduces the price is a superior technique. Jump in if the initial offer is $100 and you're willing to spend twice that. You might frighten away some potential bidders.

Don't be discouraged by others. People don't bid on products for a variety of reasons. Dealers purchasing products for resale have their own budgets and target markets in mind. Others may already have their homes equipped and are only looking for little decorative items. Bid on an item if you like it. Don't stand by and watch while someone else gets a terrific deal on something you wanted.

Also, don't let people encourage you. It's simple to pay more for an item than you intended because a flurry of bids made it appear attractive. While you can find wonderful buys on products that should have sold for much more, you can also overpay for items that aren't worth the money. It doesn't make something valuable just because a lot of people are bidding on it.

Still hesitant to place a bid? At the auction, not everyone bids in person. Some persons prefer to remain anonymous or are unable to attend the auction. These bids are handled by an auction staff member, either live on the phone with the bidder during the auction or through a left bid. If you truly don't want to deal with live bidding, set a limit on your items and leave your bids with the auctioneer. A member of staff will bid for you up to your maximum limit.

Have a blast! Even the most seasoned bidders make blunders and end up taking home impulse purchases or dragging their feet on products they truly wanted. Don't be disheartened. Just think about how you can improve next time; there will always be another auction.

If you're looking for local auctions, look up estate auctions near me. You can look for the products you want on a variety of online auction sites.

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