Sunday, February 08, 2009

How To Avert Auction Mistakes

Bidding at an auction can be an enjoyable experience but if you focus solely on fun and let loose of your limitations, you may be on your way to auction pitfalls. Here are the things you need to remember to avert auction mistakes.

Inspect The Items You Are Interested In.

While auction brochures can supply you with important information about the auction goods you want to buy, there is no better way to know the condition of the items than to inspect them in person. Remember, bidding at an auction is a form of buying goods. So no matter how inexpensive the item you have won, you still have to pull money out from your pocket.

Know What You Need And Not What You Want.

There are several good items that can be put into a single auction; however, this should not be a reason for you to throw away your money and bid on everything. Set your priorities straight. You are going to an auction to get something you need and not just for the heck of bringing home just anything.

Set A Budget.

The bidding process happens very quickly and if you are not attentive, the item you have planned to bid on will be taken by others. But this is not an excuse to engage into a bidding war against other bidders. Set the highest amount of cash you are willing to pay for each item you have chosen. Keep your budget in mind when bidding.

If you are bidding on memorabilia, antiques, artwork, or vintage items which value may appreciate in the future, set your budget so it is worth the investment.

Any items you have won during the auction must be paid for that day. Often, credit cards are accepted as a form of payment but most auction companies require cash.

Do Not Forget To Register.

Before you can participate at an auction, you need to register. You may be asked to give your name, address, phone number, and may be required to give a deposit. You will be then given a number you will use during the auction.

Do Not Get Carried Away

Emotions can run high during the bidding process. Stay focused! If the price of a particular item goes over your budget, let it go. Do not get frustrated and bid on other items you don't really want just to comfort yourself or just to have something to bring home. Again, you are putting money on the line so spend wisely.

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