The Beginner's Guide to Auction Bidding
Your first auction can be extremely exciting. If you’ve never attended an auction before, however, you may not be entirely sure what to expect. How should you prepare for an auction? Is there anything you should be cautious about? Here are some beginner’s tips that should help you navigate your first auction.
Decide your limit in advance.
We’ve all seen movies or TV shows where characters go to auctions and try to outdo each other by shouting out higher and higher bids. In the real world, though, that sort of bidding can easily get out of hand, and bidders may end up spending more than they initially intended to. That’s why it’s important to decide what your limit is before going to the auction. Set a strict spending limit for yourself and make sure that you stick to it.
Don’t bid on something you don’t want.
It may sound obvious, but you should make sure that you really want to purchase an item before you bid on it. After all, if nobody else puts in a higher bid than you, then you have committed to buying that item. If you don’t want to get stuck with an item you don’t really care about, then be sure to check out all the lots before the auction. Avoiding bidding on items you’re not really committed to buying will also help ensure that you have money left to bid on items that you do care about.
Start the bidding low.
No matter how badly you want an item, it’s not usually a good idea to open with the highest price you’re willing to pay for it. In fact, this is a good way to end up paying more for an item than you need to. Start with a low bid, and then pay close attention as other people start bidding. Most importantly, don’t forget to have fun!
Hines Auction Service has been serving the community of Ellsworth, WI, since the 1960s, and it has significantly expanded since those early days. They strive to ensure that every single auction is successful, and they are continually working to improve their services. If you are planning an auction, then call (715) 273-3377 for more information.
Hines Auction Service, Inc was started in the 1960’s by Colonel Jack Hines of Ellsworth, WI. The business grew year after year. Jack sold everything from farms to machinery to antiques.
Business continued to grow and the family became ever more involved. Eventually Jack was joined by his son Jeff. Jeff worked on and off with his father for many years and graduated from auction college in 1985.
Jeff finally joined his father full time in the 90s and the business took off. As a team, this father and son duo helped to grow one of the largest auction firms in the Midwest.
More about Hines Auction Service.This content has been submitted by authors outside of this publisher and is not its editorial product. It could contain opinions, facts, and points of view that have not been reviewed or accepted by the publisher.