The auction bidding can be really tricky sometimes. The beginners can easily get trapped if they do not understand the techniques used by experts to trap the newbies. Therefore, you must act wisely and try to understand the strategies that can protect you from being trapped.
If you’re going to bid a huge amount of money, you must always take help from experts like auction bidding service Melbourne. However, if you are going to place smaller bids, you can make use of the tips shared below.
Attend the preview
The auction catalogue provides you information about the products that will be displayed on auction day. But you must attend the preview to carefully take a look at these products before making the final decision. If there are any damaged pieces, you must try to figure out if they can be repaired or not. If you’ve decided to bid on a particular product, you must note down the box lot numbers and contents in your book.
Confirm the payment terms before auction day
If you’re planning to pay via check or credit card, you must figure out if the auction house accepts these payment methods or not. And don’t forget to ask them about additional charges and deposits. Sometimes, the administration will ask you to submit a refundable deposit at the time of registration. So, you must ask them about the amount you’re supposed to submit as a deposit.
Set a maximum you’re willing to spend
Make an estimate of the products you’re willing to purchase and then set a maximum limit accordingly. Sometimes, the beginners easily get trapped and bid far more than they intended. You must bring a friend to the auction so you may both keep each other accountable.
Bring a folding chair with you
There are many that come to place bids at an auction. So, you might not be able to find a seat if you arrived late. In this situation, the folding chair will offer you the maximum comfort. So, you must bring a folding chair with you so that you may comfortably place bids for products you’re willing to purchase.
Stay ready to place a bid
The auction moves very fast and the organizer won’t wait for you to place a bid. They’ll immediately close the bid if they couldn’t find a higher bid. So, you must start participating in the bidding process once your item is up.