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5 Myths About Auctions That You Should Ignore

Friday, November 2nd, 2018
auction myths to ignore

Auctions present great ways to buy and sell products. You can find one-of-a-kind items at these sales that you will not see anywhere else. The prices are also unlike any you will see in the retail stores. Auctions not only offer unique items at great prices, but they are also a lot of fun. Still, there are myths surrounding these events that keep some people away. The following are five of these myths about auctions that you should ignore.

Myth 1: You have to attend auctions in-person

Auctions used to be in-person only. Now, technology makes it possible for you to attend online auctions from anywhere with internet access. You can search and bid on items you can’t find in stores without ever leaving your home. Many different industries use online auctions to sell products, even the farming industry.

If you can’t attend an auction at all, you can call ahead and leave your highest bids with a representative before the event. This gives you a chance to buy the items you want, even if you are too busy to keep up with a live event.

Myth 2: People use an auction as a last resort

Auctions have set record sales across all industries, so it wouldn’t make sense for them to be a last resort to sell an item. These events create competition that allows prices to be raised as favorite items receive multiple bids. During the bidding process, buyers often begin a war that increases the cost of an item quickly. An auction is seldom the last resort. It is often the first consideration for someone looking to sell used goods.

Myth 3: Auction items are either too expensive or junk

Auctions span all industries, so you can can find everyday used items like dishes, home decor, furnishings, and more at reasonable prices. There are also valuable items like antiques and high-end jewelry at some auctions. The range of items is extensive and varies from event to event. You can find commercial equipment, retail store pieces, firearms, and even land.

Myth 4: It costs money to attend an auction

It doesn’t cost any money to go to an auction. You can attend and watch the bidding process without any fees. Most sales will welcome your attendance even if you are not planning to buy items now. This is actually a great way to learn about bidding and selling if you have never been to one. You will have to register for auctions before bidding, but you should not be charged for this.

Myth 5 : Selling items at an auction doesn’t work

If you enter into an auction agreement with no enthusiasm or motivation, chances are it will fail. If you are ready to part with your possessions and are prepared to handle offers, you will succeed. When you sell items at auction, remember that some things will not sell for their full value, while others will sell for more.

Auctions in the Texas Panhandle

Auctions are a great place to find the things you’ve always wanted at great prices. Finding a local event in your area is the best way to see for yourself just how fun these events can be for buying and selling items. Call High Plains Auctioneers today at (806) 244-6776 or Send Us an email if would like to learn more about Bidding and Selling at auction. You can also check our Upcoming Events to see what we will have available.