Sunday, April 21, 2013

Auction Do's and Don'ts The Ins and Outs of Auction Buying

Auctions can be a lot of fun and can be a great place to find merchandise for resale. They can be addicting! They can also cost you a lot if you do not know some basics and keep your wits about you.

A lot of auctions now are listed online at Auction Zip. This website has auctions in all areas of the country.It is a great tool to use if you want to try out auctions to purchase merchandise. Auctioneers frequently will list a lot of the merchandise that they are going to sell at the auction as well as post pictures for you to view ahead of time. This way you can get a feel of what is to be auctioned off. You can also decide if there is enough merchandise that you are interested in before actually going there.  Most of the auctions will have a period of time that you can go in and preview the items in person as well.

I recommend going to any auction early and looking over anything that you are interested in before the auction starts. Most auctions are fast paced and it is hard to get a good look at a lot of things when the auction is in progress. Look over any items you are interested in and even take notes about them as well as write down numbers of the items. Examine items carefully as a lot of auctions do not allow you to return an item if you find flaws with them afterwards. Most auction merchandise is sold as is. Honest auctioneers will announce problems with an item if they are known but they are human and can miss things too.

I always try to figure out ahead of time the amount I am willing to pay for an item before the auction starts. The auctioneer will start the dollar amount and ask for bids.  Don't be afraid of holding back if you feel the amount is too much, they will come down or ask for a lower bid if no one holds up their hand or card at that time. Once the bidding starts bid until you reach your limit. Know your limits and stick to them or you can easily overpay for items. That is one of the pitfalls of auction bidding. It gets into a frenzy sometimes with the fast pace and the adrenaline gets pumping.

If you win an item write down on your card the amount that you paid for it. It is good to keep a record of your bids for yourself to make sure there are not any mistakes when  you are ready to pay the auction bookkeeper at the end of the auction.

One of the overlooked bargains to be found at auctions are box lots. They will have a box full of things and they will sell the whole box for one price. These usually sell for lesser amounts and can have hidden treasures in them. I have gotten box lots for $1-2 and have sold the items for much more than that. At the end of auctions, items that have not sold will be put in a lot or a table together and can be purchased for good amounts as well. The crowds usually thin out as the auction goes on so if you are in for the long haul you can get bargains at the end of the auction.

Be ready to stay for a while at auctions. Most go on for hours. If the auction is outside take a folding chair with you as it is very hard to stand for hours. Remember to take some boxes or totes with you as well. A lot of auctions don't have boxes or paper for glass items. It is good to take some water and some baby wipes or hand sanitizer with you as well. A lot of items are dusty or dingy at auctions. Some auctions offer refreshments but there are also long lines usually at the concession stands so you can miss out. Taking a snack as well as water can tide you over if you don't want to miss out on any auction action!

Take a black light with  you too to check porcelain or pottery for small chinks, chips, cracks, or repairs that are not easily seen with the naked eye.

Most of all have fun and get some great merchandise for awesome prices!!!!

Here is a recent example of one of my awesome online auction finds! It is currently in my Ebay store for sale!

If you would like to find out more about check it out in my store


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