Better Bidding

Successful auction participants understand that better bidding is important. Learning how to bid at an auction will help you purchase the items that you want at the price you are willing to pay. Once the bidding process is understood, successful auction bidding will be a snap.

Public Auctions

Attending an auction in person requires a different bidding technique than online auction bidding. At public auctions, the auctioneer will encourage people to bid often sometimes raising the final sale price above the items value. Attend open auctions to get a feel for how auctions work. Ask questions of the staff and those in attendance. Compare payment options. Auctions that have real estate or vehicles listed, payment methods may be specific. Be prepared before you bid.

Attendance

If you want to inspect items being auctioned off, you should arrive early. Know the value of the item that you are looking to purchase. Antique books, antique buying guides and other reference materials will help determine an appropriate final price. A good auctioneer will choose a starting bid that is low enough to generate interest yet allows the item to sell for a price close to its value.

Strategies

Good auction strategies include never being the first bidder. Allowing someone else to place the first bid will allow you to bid without showing a keen interest. Before placing a bid, decide what you are willing to pay for the item. Vehicles should be inspected for dents, scratches, mileage and if available their history before the bidding begins. When purchasing a vehicle at auction take a Blue Book with you. This book will provide the market value of the vehicle. Better bidding requires an informed buyer.

Online Auctions

Online auctions have many different methods of bidding. Some sights like eBay allow registered bidders to watch an item before placing a bid. Check the online auction sites prices, and be aware that some sites charge a per bid fee. Payment methods also vary from site to site and from seller to seller. Government, surplus and vehicle auctions may only accept money orders or certified checks. Securing the correct payment method or setting up a payment method prior to bidding will promote successful auction bidding.

Strategies

Some online auction bidding strategies are the same as public auction bidding techniques. Knowing an items value, an items rarity and determining how much you are willing to pay for an item is key to better bidding. An item’s auction time needs to be taken into consideration.

Sniping is an online auction bidding technique that may result in successful online bidding. Group bids increase the chances of winning online auctions. Place a maximum bid first if possible. Place uneven bid amounts as your maximum bid. People often bid in even amounts. Placing a bid of $5.25 for example may result in the prevention of an item being sniped.

Better bidding at auctions takes a little bit of research. Observing and learning the dynamics will help to successfully bid at public and online auctions.

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