Tips on How to Bid Auction Safely

By Gugum Indra Firdaus

auction tips

Every movement on the bidding floor- even the slightest nod- could mean a bid to the auctioneer. Some people accidentally win items being auctioned because of some gestures that were natural for them, say waving at a friend during the auction. This could happen to anyone and it could happen to you.

Here are some bidding auction safety tips:

Eye Contact

You may be sitting far from the auctioneer but whenever you have the chance, catch his attention. Maintain eye contact afterwards. Keep your eye contact whenever possible, this will establish your identity to him. Thus, when it is time for you to bid on an item you intend to buy, you will have no problem in communicating this to the auctioneer.

Establishing Connection

Once you start bidding see to it that you don’t lose the connection with the auctioneer. You could start by making a determined hand gesture or unabashed bidding using your card. From this point on, he will come back to you whenever your bid is upped. A simple nod or a slight gesture will tell him that you willing to raise the price a bit higher.

Dropping Out

Sometimes people feel pressured if the auctioneer keeps on coming back to them. If you want to quit from the bidding, a polite shaking of the head will signal the auctioneer that you are backing out.

Entering The Bid

You should always know when to enter the bidding. Some people come in too early, some are too late. Both positions have low chances of getting the item or property being auctioned at a price they want. If you want to set the price, try to enter midway into the bidding.

This way you are giving yourself a fair chance of getting out of the bid if you want to quit or pursue your bid if you are serious with the item. If you are doubtful on whether or not you should buy the item, never enter the bid when you feel that there are fewer people participating on it.

If, however, you intentionally entered the bidding game late, there is a chance that you could be overlooked by the auctioneer. If this happens, try to get his attention by politely saying a word to signal your interest.

Quick Decisions

Bidding often happen fast and sometimes it leaves you no room for analyzing whether you should place the next highest bid. In this case, try to think as fast as you can because the bidding will never stop for you.

My articles you may be interest : Auction Types, Home Loan Mortgage Company and Charity Auction.

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5 Reasons Folks Fail at Auctions

By Gugum Indra Firdaus

auctions bid

Winning something at an auction is not just about toppling all your opponents and emerging as the highest bidder. It’s also about bidding wisely and making the most out of every cent you pay. Sadly, not all bidders make correct decisions and fail miserably due to their own negligence. The reasons? Read on :

• Bidding without planning. Participants without a plan on what to do and how to do things right will likely fail at any auction they go to. The auction process is a bit tricky and confusing so come prepared. Identify the auction goods you want to buy by looking at auction brochures provided before the auction date. Do some research on the items you are interested in. Know their current market value and set your budget. Not only will it set your priorities straight, it also gives you better chances of bringing home the items you really need.

• Buying an item blindfolded. Not literally, of course. The point is, when you are trying to buy at an auction make sure that you have carefully inspected the particular item you are interested in. Doing this will ensure that you know what you are up to and what to expect in case you win the item. It also allows you to have a set budget.

• Going to an auction with a vague goal. People go to an auction hoping to bring home something for a bargain. But if you ask some of these people what item they want to buy, they might just say “I have no idea” or “I just bid on everything and hope to win something”. When you go to an auction, you should know what you want beforehand. Have a good idea on what’s on sale and prepare for it.

• Wrong perception on how the auction process goes. An auction house can become a battle ground and participants can transform into warriors fighting to win something. But that does not mean you have to fight in any way you can.  Bidding is about strategy; knowing how and when to bid is essential. Do not engage in a bidding war if you are not prepared. Remember: even if you win an item, the final price is what matters.
• Letting emotions take over. Emotions can run pretty high during the sale especially if two or more individuals battle over one item. Do not get carried away with the intensity of the moment or else, planning and strategizing will just become useless.

Articles you may be interest : Charity Auction and Home Loan Mortgage Company.

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