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PURCHASING AT AUCTIONS: PART 4
In Part 3 we offered some tips for purchasing at auctions. Here are some final ones.
- If possible, try to attend midweek auctions as opposed to weekend auctions because there are generally fewer people in attendance, which usually means less pressure to drive bids into the stratosphere.
- Get to know auctioneers in your area so they can keep you informed about items of interest to you prior to sales. Also ask to be included on their auction notification and schedule lists, which are generally sent by fax or e-mail, and list forthcoming auction sales and the items available.
- On items that interest you and are within your preset price range, enter the bidding late, as this often discourages other bidders from continuing because they feel the item will go out of their range. Last-minute bidders coming into the game can even force the most determined bidders to give up.
- Come to the sale with suitable transportation and equipment, such as loading dollies so you can leave with your purchases. Trips back to pick up purchased items cost time and money, driving up the prices of items.
- Look for deals in need of a little elbow grease or minor repairs. Some of the most profitable auction finds are ones that require a little TLC to bring them back to their former glory.
- If you are interested in items that did not sell because the reserve was not met, be sure to give the auctioneer your business card with the lot number of the item and the maximum price you would spend for the item printed on the back of the card. The auctioneer can easily present your card to the seller, who may accept the offer after the sale and contact you.
Remember, the power is yours!
Credit: Entrepeneur.com
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