You will find auctions that offer a variety of items you may be interested in. There are auctions for home furnishings, vehicles, art, and even animals including livestock. Many people are intimidated by the process that takes place at an auction so they shy away from them.
Yet this is a perfect opportunity for you to get some great items for a very low price. The biggest factor is that there will be plenty of other people there bidding on items too. It isn’t just you and one other person trying to negotiate the price.
The other downside of it is that your goal is to negotiate the price of anything lower so you get a great bargain. Meanwhile the auctioneer is continually raising the prices higher as long as he continues to have interested parties bidding on the item. Of course not everyone at an auction is going to be there to bid on the same items.
If possible, take a look at the items that will be offered at an auction ahead of time. Most of them offer flyers listing the best items they have to generate public interest in the auction. Try to show up at least one hour early so you can take an up close look at the various items that will be for sale. This way you can confidently bid on them when they reach the auction block.
It is important to remember that you are purchasing items at an auction as it is with no expressed or implied warranty. If you find an old desk you love and would like to refinish check it out before the auction starts. You don’t want to win it and find out it is actually made out of particle board instead of real wood.
Don’t let the fact that there are plenty of people around you discourage you from bidding on the items you really want. If you don’t win them try not to stress out about it. There are generally plenty of auctions taking place in any given location so you may find the item somewhere else.
Of the flip side of that coin, don’t feel pressured to keep bidding more for an item than you really want to because someone else is bidding on it and you don’t want to be the loser in front of everyone else in attendance. Too many people worry about this situation at an auction, but it is nothing to take personally or become embarrassed by.
While you are taking a close look at the various items you may want to bid on, come up with a maximum price you are willing to pay and then stick to it. If the opening bid for the item is more than you were willing to pay for it then pass the item over entirely.
Even if you don’t walk away with anything, going to an auction is a very fun even it itself. There are real estate auctions, estate auctions, and those that offer a variety of other items. It is fun to attend and observe how the entire process works. This way you know the proper procedures when you are ready to make a bid. It is also a great place to network and meet lots of very interesting people.