When it comes to how to win an auction, the work starts before you even get there. If possible, read up and do some research on the items that are up for bid. (Some sources worth consulting are eBay, an appraiser and old auction catalogs). It’s the auctioneer’s job to help sell each item at a high price, so knowing the real value beforehand will help ensure you pay a fair price.
You’ll also want to confirm the preferred method of payment beforehand—some auctions only accept cash or check.
Not an experienced auction goer? Then consider going to an auction or two beforehand to get a feel for how they progress.
Once you’re at the actual auction, take a moment to inspect the items if possible. The last thing you want to do is overpay for an item that is not in good condition.
Speaking of overpaying, take the time to decide on your bid limit for each item. It’s easy to get carried away when the action starts, so decide beforehand the maximum amount you’re willing to part with.
Portion of Article by: Amanda Prischak