Following the suggestions will help you get ready for the excitement of a live auction. You will go in knowing it exactly what the event offer, if it has the style of furniture you are searching for, and also what your budget constraints are. It is all about being prepared.
Whether you use the local newspaper, or search online make sure to create a list of the local auctions in your area. Spend some time finding out exactly what items will be available for bid. Each auction is unique and may offer merchandise you are not interested in. This way and avoid wasting time on an event that does not offer what you are looking for.
The main pointer to remember is to become familiar with the format of a live auction. The first time you attend, just watch and observe to get a feel for the venue. It is rather surprising how often people forget to do this one step. The reason for it is to become comfortable with the auction setup. This decreases the chances of you buying something you were not looking for.
When researching events find out if they offer something called a preview. A preview gives you the opportunity to go to the auction house before the event to inspect the merchandise. This can happen a few days before an auction or a few hours before live bidding starts. It gives you the opportunity to make sure that the furniture you are interested in matches space dimensions, and your own personal taste.
Spend time doing a little bit of research. Learn the lingo. There are several terms that you will hear often in a fast paced environment, so it helps to know what key words mean.
Two common terms that you will hear frequently is start price and reserve price. The starts price is the minimum amount the bidding will start at. The reserve price is the smallest amount the seller will accept as the final sale. If you spot furniture that appeals to you, make sure to find out if there is a reserve price. This will eliminate the possibility of you going over budget, and will ensure that the reserve price is not more than you are willing to pay. Remember, the goal is to leave with unique furniture that is not overpriced.
The most important thing to keep in mind is to remain calm so you do not fall prey to buyers frenzy. It is very easy to become overly excited and enter a bidding war. By remaining levelheaded you will decrease the possibility of going home with an item that was over budget. By following the simple tips you will find the auction experience very stimulating and rewarding as this is a wonderful way to find original and organic pieces of furniture for your home.
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