(806) 244-4453 Fax

The Top 3 Live Auction Tips For Buyers

Friday, August 11th, 2017
Tips for live auctions from high plains auctioneers

Live auctions offer an excellent opportunity for buyers to get one-of-a-kind collectibles, artwork, antique furniture, and other items for a great price. Most live auctions, whether online or in-person, allow bidders to look over the items in a catalog before the bidding starts. Taking a detailed look beforehand will prepare you to make the right bidding decisions. Here are a few of the best tips for bidding at a live auction.

Do research before the auction

If you want to get a good deal at a live auction, you must do some research beforehand. Determine which items you are interested in and begin educating yourself about those items so that you can place a reasonable bid. Look at all the images available for each item and don’t be afraid to ask for more detailed information, photos, or a condition report. Auction houses should be able to gather this information for you, even though it may not be in the auction catalog.

Stay within a realistic budget

You must be careful not to get caught in the heat of the moment once the bidding process starts. It is easy to bid more for an item than you originally intended. Set a realistic bid limit for yourself. If you want to score a great deal, you have to determine your budget and stick to it. The other bidders have probably done some research and may be prepared to bid up to the fair market price. If you find that an item is extremely rare during your research and hard to buy, you may decide to bid more. This is why doing research before you attend an auction is so important.

How to succeed at a live auction

There are many tips and tricks on how to get good deals at live auctions. The best two things you can do to succeed are to be prepared and stay focused. Be sure to always preview items you may be interested in and establish a bidding limit. Auctions are very fast paced, so it can be easy to get caught up in the excitement and over-bid on an item.

To learn more about how to bid at live auctions, contact the experts at High Plains Auctioneers today. You can call us at (806) 244-6776 or Contact Us by email for more information about buying and selling items at auction. Don’t forget to check out our Upcoming Auctions to see what we have available!