Auction Houses | Auction Guide | Govdeals Auction: Desember 2009

Kamis, 31 Desember 2009

Boost Your Sales and Make Money at Auctions

Whether you are planning to make a living on selling items at an auction or just want to maximize your profit from an item you have entered, take note of the following tips on how to boost your sales and make money at auctions.

1. List item(s) on auction houses that sell similar products as yours in similar price ranges. There are auction companies that accept and sell anything. This is okay but your first choice should always be the ones that are selling similar products as yours.

Why? Bidders and shoppers look for a particular item to buy and they want to buy it where they have several choices. The more choices the auction offers, the more people they attract. The same reason people go to a department store rather than a small outlet. Placing your item among other similar items at similar price range increases its chance of selling.

2. Make your item stand out. Buying the rights to become a feature auction can cost you money. Unless you are selling something that can yield to a big sale, refrain from paying for extra exposure. What is meant a good advertisement is by making sure that the item you are selling attracts positive impression and interest.

If it is property you are selling, do some improvements. Refaced kitchen doors, newly painted walls, and a clean front porch may not boost the cost of your house significantly but they can be the factors that will help potential buyers decide to buy your house. This also applies to any products you want to sell at an auction.

3. Answer to the buyers' wants and needs. Bidders want to buy something worth their money. So the item(s) you sell should be well in the range of the buyer's budget. If you follow #1, you're doing it right. Bidders need to buy items that they can take home as simple and as quickly as possible. Your shipping and handling terms must coincide with their requirements.

4. Be realistic in setting your 'reserve' price. Most bidders do their homework and search for the current market value of the items they see on auction listings. Try not to take this for granted as you will likely not get any sale if plan to rip off your buyers by setting unreasonable prices. Take note, most people go to auctions because they want to save. Don't attempt to sell your item(s) higher than what they are worth.

AdsSpy: 12 sites by this AdSense ID

Where to Find the Best Deal

AdsSpy: 12 sites by this AdSense ID

Police Auctions

Police confiscate items and impounds vehicles. But if the items are left unclaimed for a definite period of time or there is no possible way to trace the owners and return the items, they become auction goods. Police also seize properties and items associated to crimes people commit.The police seized properties will then go to an auction. Police auctions are often held at local police agencies, federal law enforcement agencies, police departments, and county sheriff departments at specific time and date.

Government-Seized Auctions.

Due to foreclosure and seizure laws, the government accumulates properties from private owners who were unable to pay their mortgages or loans.
The Customs and Border Protection, US Department of Homeland Security, U.S. Postal Service, U.S. Marshals Service, U.S. Bankruptcy Court, Internal Revenue Service, and State Tax Department are some of the government agencies that hold government-seized property auctions.

Bank and Loan Companies

Bank and loan companies often repossess properties from owners who are unable to make loan payments. These repossessed properties range from real estate, vehicles to home furniture, become bank or loan company properties.

Since the cost of storage is high, bank and loan companies want to convert the repossessed properties into liquid assets right away. Bank and loan companies often announce auction schedules online, in office bulletins and in newspapers.

New and Used Car Dealers.

In order to make a sale, new car dealers allow their costumers to trade-in their old cars for new ones. The old vehicle that was traded-in will then go to an auction. Used car dealers also employ the same system as other auction houses to generate sales.

Auction Companies.

Auction companies sell a wide array of auction goods. Check newspaper ads, auction brochures, and the yellow pages.

AdsSpy: 12 sites by this AdSense ID

Going to an Auction in 5 Easy Steps

AdsSpy: 12 sites by this AdSense ID

The process of buying at an auction can be confusing to first timers.

1. Go to an auction preview

If you want to increase your chances of success, this is the most important step you should focus on. Auction previews are an opportunity to know the different auction goods on sale and the only time to inspect personally the items you are interested in bidding on. Turn it on, plug it in, try it out and examine all the features of the item when possible.Auction previews are held days before the actual auction day. It is your chance to take notes, bring a camera, and screen the items through your personal quality check list.

2. Do your Research

Once you have seen the items on sale, go home and do your research. Go online and check the market value of the items. Consider the repair costs if necessary.

3. Set your budget

Once you have done your research on the items you are interested in bidding on, determine the highest amount you are willing to pay for each item. Take note, knowing the amount of your highest bid should be based on the current market value of each item, the possible repair costs, and the additional charges the auction company will impose on the sale.

4. Prepare Your money

Winning at an auction is legally binding so you cannot simply pull yourself out after you win an item. Prepare your money that you have set to cover your bids and the extra fee.

5. Bid

When the auction opens and the auctioneer calls for the bids be ready. A second of hesitation may cost you to lose the item you are eyeing. Stay within your set budget. The auction process is fast-paced; things can get ugly, and emotions can run high

AdsSpy: 12 sites by this AdSense ID

The Advantages of Buying from an Auction

AdsSpy: 12 sites by this AdSense ID

Positive responses among those who have visited them and won items have been received by public auctions. Let us look at the advantages of going to and buying items from an auction.

The bidding process enables bidders to dictate the cost of the item they want to buy. While most items are often appraised to determine its minimum price or starting bid, the bidders are still the ones who will decide on the final price of the every item at the auction house.

Purchasing an item from an auction is often faster than the conventional way of buying. Believe it or not, one item can be sold within 30 seconds at an auction. Generally, any item being sold at an auction is relatively cheaper compared to its actual market value. This does not mean though that you can steal a deal at a dirt cheap price all the time but auction items are usually sold 10% to 15% lower that their actual market value which is a pretty good deal if you want to save on cash.

Before the auction starts, the auction house or the auction companies will allow you to inspect the items. Items vary depending on what is available at the auction. From cars to boats to properties to office furniture to sports memorabilia to personal gadgets; the possibility of owning an item is endless. Some auction houses only focus on specific items such as cars or property. Good quality items can be bought from an auction. This is contrary to the common notion that items that are sold there are used and poorly maintained. Designer clothes, jewelry, antiques, household goods and even cars, boats and motorcycles are well-kept before it is being sold at an auction. At the end of the auction, the item(s) you've won you can pay in cash, check or with a credit card. Partial or full payment is accepted to ensure that you get the item(s) you've won.

AdsSpy: 12 sites by this AdSense ID

Advantages of Auctions for the Buyers

AdsSpy: 12 sites by this AdSense ID

Why is there such hype regarding auctions? What's so good about them and what do people get from them that they don't normally get from other forms of buying?

Half of Americans, according to the study conducted by the National Auctioneers Association, have seen or attended an auction. This means that auctions are fairly popular among Americans and that the majority of people often prefer to trade through auctions, like in EBay and other live auctions rather than in the actual market.

Why? Because first, it is one of the most exciting ways to get the best deals (according to the 83% of all the people surveyed), second, great value for items is often offered to the buyers (this according to more than half of the respondents), and third, buyers are satisfied with the prices they pay at the auctions. Apart from these reasons, there are several others including the following:

Speed of Buying

Most types of auctions are timed so the buyers are pressured to bid their price before the time runs out. This alone gives the excitement for both observers and bidders. Also, buying at an auction offers a fast transaction. Its core rule: give the highest bid and you win the item.

Chance for the buyer to establish his own price

While items at auction usually have reserve prices, auctions still let the bidders decide the highest and lowest value of the items. Thus, the control for pricing is given to the bidders and the real market value of the merchandise is evaluated.

Getting the fair market value

Fair market value comes from the transactions between a willing buyer and a willing seller. In the structure of auction, it is obvious that people participating in it, the sellers and the buyers, get the fair market value of the property or the item they are buying.

Guaranteed sale for both the buyer and the seller

Bidders come to auction with the intent of buying an item and sellers go to auctions to make money off their property. Thus, both parties have the assurance that they will have their intentions satisfied. So it is rare, if not impossible, to have cases where any of the two individuals back out from the transaction since an agreement at auction is legally binding.

It eliminates tedious negotiations

Auctions do not need negotiations between buyers and sellers. If the bidder wins the highest bid, he gets the item whether the seller agrees to the price or not.

AdsSpy: 12 sites by this AdSense ID

Fundraising Auction Do's and Don'ts

It is a big task to organize a fundraising auction, however it is possible. Here are some guides these do`s and don`ts to run better and more successful auction.

Do's

Plan it carefully. Set your goal together with your team. Draw your plan and delegate tasks. Prepare everything you need. Execute perfectly.

Get a corporate sponsor. Getting a corporate sponsor will help you attract more people through corporate contacts or employees and reduce your expenses. You all need each other for benefits.

Definition of auction you will use. You have 3 choices. You can use a regular auction, silent auction, or both. Do hire a professional charity auctioneer. Take note: "professional charity auctioneer". Regular auctioneers have a great skill of their own but a charity auctioneer knows how to execute a non-profit event very well.

Integrate the auction into a charity event. Often, an event used to be inserted in a fundraising activity. This helps draw invites and keep the guests entertained.

Don'ts

Don't limit on the type of auction goods to sell. If you want to collect enough funds for a cause, be ready to sell as many items as you can.

Don't ever guess that your guests know what to do. Not everyone has been to an auction or experienced bidding for an item at an auction. So give your guest information about what they should expect during the actual event. The last thing you want is to host an event that requires big money. Any amount you collect is added to the money you earn.

Don't make yourself stressfull. While so many things going on when preparing the fundraising event and during the auction itself, you don't have to stress yourself over the details too much. Cooperate with your teammates.

Benefits of Auctions for Sellers

Many sellers, property owners and brokers often prefer to sell items through auctions due to the following reasons:

An item is considered sold once auctioned

Chances are the items will be bought once listed at an auction. The buyers will always find good reasons to buy the item presented to them even if they may have no intention of doing so.

All buyers are willing to bid

There is no other way for potential buyers to get the item they want but to bid at an auction.

Quick disposal of items

Probably one of the fastest ways to sell things, auction gives the sellers the advantage of fast disposal of the merchandise. This then will cut the expenses on maintenance, taxes, and even inventory costs.

Assurance of true market value

The market value is the price that is both competitive and acceptable to the buyers. If the price is bid, this means that the true market value of the item is being given therefore; there is no way for the auctioneer or the seller not to get the price that is fair for the item.

Accelerated sale

Unlike when a car is sold individually or a foreclosed home is negotiated between the owner of the property, the broker and the willing buyer, items being auctioned only need a moderator to announce the item and the buyers will bid on it. The process eliminates the negotiation or the waiting process.

Accurate information

Unlike with the conventional way of selling on the open market, auctions give the seller the assurance that his property will be sold at a certain time.

Buyers are qualified

Registration is a typical part of any auction. The potential buyer has to first register an account that would enable him to bid on the auction and would give the seller the assurance that the potential buyers have the capacity to pay.

Reasons Why You should Hire a Professional Charity Auctioneer

The auctioneer is the key of success of every charity auction . He can make the most undesirable auction goods into something that's worth, not necessarily a fortune but a significant amount of money. While many talented volunteers can excite the audience, acquired skills of a professional charity auctioneer can make a big difference. Read on and you'll know why hiring a professional charity auctioneer is worth the investment.

A professional charity auctioneer does what he knows the best: he connects with the audience, raises the money and sells items as high as possible for your cause. While in the real sense, the bidders have all the control over the final price of each auction goods on sale, a good auctioneer can stimulate the crowd to bring up the cost of the goods by bidding higher. Other volunteers and celebrities can raise the bidders to their feet but it takes more than applause, smiles, and laughs to raise a good amount of money; a task that only he can do.

A professional charity auctioneer can give you useful insights and help you plan better the event that very few members of your team can match. Since the auctioneer participates all throughout the planning, he becomes part of the team. This is important, without a good plan and organization, there is no charity auction will success. A professional charity auctioneer may cost you some amount but he provides the service which is worth more than he charges. Besides, there are auctioneers who will willingly give their service to charity auctions free of charge or for a very small amount.

Take note: a traditional auctioneer has high skills in his on rights but there is a special level of skill required when calling bids for a non-profit auction.

Tips on How to Bid Safely

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 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.

Tips on Finding the Right Auction House

There are so many police auctions, government auctions, and privately hosted auctions happening across the country. And choosing one may be a bit confusing.

1. Know what you want.

Not all auction houses sell everything you need. Some only sell properties while others focus on certain items such as cars, antiques, artworks, memorabilia or jewelry. Police and government auctions sell various things including real estate properties, vehicles, boats, motorcycles, home furnishings, jewelry, and consumer electronics among others.

2. Do some research.

Finding a public auction is not rocket science. Search online and "off-line". Different auction companies and auction houses have websites and newspaper ads where you can get information on when and where the next auction will be. Government and police agencies announce their auction schedules online and on their bulletin boards.

Auctions are also announced in local newspapers especially if the auctioneer is holding it nearby. Do not forget your yellow pages. Auction companies have listings in your dusty old phone book.

Get auction brochures. They contain listings of the items that are about to go on sale which will give you an initial idea on whether the items you are looking for will be sold at the auction or not.

3. Ask a friend.

Sometimes, all you need to do is to ask your neighbor, your officemate or your relative if they know any auction houses.

4. Choose within your proximity.

The main reason why you are choosing auctions over other ways of purchasing goods is because you want to save money. So keep your expenses monitored. The amount to spend on the item is not limited to the final sale. It includes the cost of gasoline you spend on the commute, the food you spend for the day, and the time you waste to participate in the auction, not to mention the depreciation of your car on your way to the auction house and back. In order to keep your expenses low, choose an auction house nearest you.

The Problem with Auctions

Why do some bidders stick with their bids even if they are starting to go beyond the rationality of the sale? Why are there so many people who jump into the hype of auctions without really knowing why they do it? And why are there so many bidders who tend to get themselves caught in bidding wars while knowing that they will have to pay more than they can afford?

Bidding frenzy is a common problem in joining auctions which also makes some people reluctant in buying from such. Why is this happening and why are there some people who just can't stop even when the rationality of auctioning is crossed?

Here are three reasons behind this:

One, it may be due to the combination of arousal, excitement, competition, an overwhelming desire to win and extreme reluctance to back out.

Bidding frenzy is comparable with addiction to gambling in terms of the adrenaline rush and the continued excitement running in the psyche of the people involved. The more intense the bidding war becomes, the more interested the bidders become.

The rush of emotions can't be discounted when trying to understand why people participate in bidding wars. At this point, it really no longer matters whether logic is working or not, what is more important is that the person is satisfied emotionally. Also, people loose their best judgment when their minds are clouded with emotions.

Two, it may not be purely on winning the item but on testing the personal threshold of the bidder and the competitor.

People who aren't so interested in the item but get caught in the bidding war no longer feel the need to get the merchandise but the need to make the other person pay dearly when the ending price is several times over than the original price.

Three, it may be due to the lack of experience with auctions.

Bidding wars are more commonly observed among people who are just beginning and are not backed by sufficient information on how exactly they work. It must be noted that some bidding wars are intentionally encouraged by the auction organizers themselves. This is working on the principle that the more interest the public has on the merchandise, the higher the value it receives and the more interested buyers bid on it. This does not only increase the hype over the item but also adds to its market value.

Must-Know Things about Car Auctions

It is a smart move to buy a car at an auction. But you need to do extreme care because public car auctions have inherent risks and benefits.

First, although the cars at auction are generally sold at lower prices, however the car suffer mechanical condition. Some car auction won`t let the buyers have a viewing time, so we won`t know if the car has mechanical defects or if the paint is still original or not. It means that any potential buyers are not sure if the deal they are facing on is good or bad.
The other thing you need to know, that all car that has been auctioned will be sold as-is. If the car has problem in it, then you will buy the problem along with the car. Almost all auction organizers won`t fix the car before they auction them.

Second, the extra charges. Many buyers paying extra cash for some fees that they were not prepared for could spoil the deal. Paying the buyer's premium, a fee charged to the person with the highest bid, could sometimes cost a couple of hundred dollars.

Third, the type of car auctions. There are several types of car auctions and these provide features that may not be had from other types. For example, there are auctions specializing only on second-hand cars, there are those that sell vintage cars and there are others that attract people wanting to buy salvaged cars.

Fourth, knowing where to look for auctions. Different auction houses have different mediums for relaying their activities to the public. Advertisements are commonly found in radio announcements, local TV networks and car sale magazines.

How to Sell Your House at an Auction

An auction is a popular selling method for houses, especially for the owners of foreclosed homes, due to its many benefits. It is the quickest way with the highest guarantee of sale. Here are some guidelines that will help you determine whether you should auction your house or not.

Which Properties to Sell

There are several types of properties that are best sold at auctions rather than under normal circumstances. They include:

Houses that are hard to sell through conventional means: There are certain types of houses that simply can't be sold through the open market fast. These include those that are in really bad shape and have received no repairs over the years, properties that have very unorthodox designs and those that don't receive good advertisement. All of these types could have a fair chance of getting sold through an auction.

Houses that have no definite value: These are houses that are marked for their distinctiveness but are rather hard to sell on the open market.

Foreclosed houses: Owners of foreclosed homes usually resort to auctioning their houses for faster sale to compensate the expenses, the unpaid bills and sometimes even to save the house itself from being foreclosed.

Highly-demanded properties: Popular houses get exceedingly higher selling prices when auctioned.

Evaluation Period

This entails the process of assessing your property and the potential auctioneer/s. Before you decide to sell it at auction, it is best to shop around for auction houses that fit your requirements. Have your property evaluated first so you'll know what is the reserve price of your house and the total value you should get after the auction. Then, check the price range of the properties that the auctioneer offers. This way, you'll be able to increase the possibility of getting a satisfactory deal for your property.

Properties at auctions are sold as-is but the owner has the option to increase its value first. For example, repairs, doing a bit of cleaning and restoring the property will actually increase its selling price.

Knowing the Cost

Auctioneers don't come free. They charge their clients for the brochures, advertisements and the general services they provide whether the house is sold or not. Also, you might pay a minimum commission of 2.5% from the sale of the house. To get around the unsolicited expenses and the payments that you may not expect before and after the auction, negotiate well with the auctioneer and read everything before signing anything.

Selling Proper

Before offering the house for auction, set the reserve price first - this is the starting bid for the property. Consult with your auctioneer before setting the reserve price. Second, arrange the contract. Finally, prepare the property for viewing by willing bidders.

Selling itself will occur during the auction. Potential buyers will bid on it. The one with the highest bid wins and the sale is official and legally binding.

Understanding How Silent Auction Work

Fundraising method that is commonly used at charity events is a silent auction. It is different from the usual auction wherein an auctioneer calls the price from people who raise their hands or numbers to bid for a particular lot. Silent auction is the most preferred way of raising money as it does not detract people from the event.

A table or a display that shows the items or services on sale is set up for the people to see at the silent auction. Some items or services may have a minimum bid as they may be of high value. Some silent auctions have one receptacle to hold the bids for all the goods on sale; others have individual container for each item. The bidders have the chance to view all the items during the event and bid the item they like.

Previous bids can be shown publicly through a bidding sheet at the silent auction. This will let other bidders to know that they need to outbid in order to bring home the item. This also will let the bidder a chance to review the current bidding sheet and place their final bid prior to the closing of the auction.

Silent auction keeps the bids privately throughout the event. This make silent auction has an advantage over the regular form of auction. Since it is largely used at charity events, silent auction don't need to hire a professional charity auctioneer.

A regular auction capitalizes on impulse of the buyers to bid for the items in a very short amount of time. Silent auctions on the other hand allows bidders to consider the amount of their bids longer.

More often than not, charitable events use both silent auctions and regular auctions to take full advantage of both systems.

How Does Auction Work

Auction is not like buying something from the department store- you get it, grab the item, go to the cashier and pay for it then get out of the store with the item at hand. In auctions, there is fierce competition especially during bidding wars. There are only few items being auctioned which means that only a few people can win the bid so in most cases, even if the bidder comes well-prepared for the battle, he could still get out of the auction site with nothing in hand.

So how does auction work?

Registration

It is a must for auctioneers to have their potential bidders register before they participate in the bidding. The bidder has to give the correct information as this may be use as reference for future transactions. Typical information required are personal information such as name, address and bidding history if applicable.

Also during registration, the participant will be asked to pay a returnable deposit. Some auctioneers require large deposits, thus anyone who wants to participate in an auction should be well-equipped with knowledge on the particular type of auction.

Afterwards, the bidder will be given a bidding number which is often used to substitute for the name of the bidder as the bidding happens.

Bidding proper

Each bidder should be given a catalogue which is a list that contains details regarding the items being auctioned. (NOTE: Under normal circumstances, viewing time is allowed which could last anywhere from a few hours to several days. This allows the potential buyer to view the items he wants to bid on before the auction begins.For some auctions that provide catalogues though, viewing is not allowed. To be sure, it is best to confirm details regarding viewing time and catalogues before the date of the auction.)

After this, the auctioneer will announce the item being auctioned and some important details regarding the item which is usually tied with the information given on the catalog. The auctioneer will then suggest a starting bid- this is not necessarily the lowest available price for the item. In most cases, the first bid usually begins at a price below the starting bid.

On the other hand, if the item has a set reserve price, the bidding will usually start above this price until it reaches the reserve price. For guiding the bidders, the catalogues usually have guide prices.

After the announcement of the starting price, the bidders are free to outbid each other until the highest bid is reached. Bidders typically get the attention of the auctioneer by raising their hands or their bidding numbers. But clear gestures can also be used.

The auctioneer will normally return to the most active bidders for confirmation of bids. If the bidder wishes to withdraw from the bidding, he can shake his head. The one with the highest bid will win the item.

After the bidding, the final bidder will pay a deposit according to the terms and conditions of the purchase. Payment methods are normally stated in the auction catalogue.

How to Profit on Selling Real Estate at Auctions

People who are distressed about their mortgage fees and those who want to make a profit on their own properties always do real estate auctions.

Real estate auctions create the buzz and interest that may not be had through conventional selling on the open market. Sometimes, its actual value may be even increasing due to bidding wars that often happen during auctions. Furthermore, bidding occurs only in a day so any willing buyers will have to compete with other more willing buyers to get the property they want.

Here's how you can profit from selling your real estate:

PREPARATION

To maximize profit, prepare your house for selling. Spruce up the property and make it better look to potential buyers.

EVALUATION

Have your house appraised by a realtor or real estate agent. If you do not want to throw in some cash, try to research on the general value of the properties in your neighborhood. Compare it against houses with similar amenities. This will give you a rough estimate of how much your house is worth.

AUCTIONEER

Schedule a meeting with professional auctioneer who offers similar properties like yours. You'll get the best value and maximized exposure. Also, try to attend some of his auctions so the potential buying capacity of his regular bidders, his performance and his capacity to sell your house will be known.

Your best choice may require you to pay a lot more than hiring regular auctioneers. However the best people in this business have the best capacity to attract more interested people in buying your property.

Make sure your read the fine print, before signing any contract or agreement. Lastly the auctioneer will help you to set a reserve price for your house.

How to Avert Auction Mistakes

Bidding at an auction can be an enjoyable experience but if you focus solely on fun and let loose of your limitations, you may be on your way to auction pitfalls. Here are the things you need to remember to avert auction mistakes.

Inspect the items you are interested in.

While auction brochures can supply you with important information about the auction goods you want to buy, there is no better way to know the condition of the items than to inspect them in person. Remember, bidding at an auction is a form of buying goods. So no matter how inexpensive the item you have won, you still have to pull money out from your pocket.

Know what you need and not what you want.

There are several good items that can be put into a single auction; however, this should not be a reason for you to throw away your money and bid on everything. Set your priorities straight. You are going to an auction to get something you need and not just for the heck of bringing home just anything.

Set a budget.

The bidding process happens very quickly and if you are not attentive, the item you have planned to bid on will be taken by others. But this is not an excuse to engage into a bidding war against other bidders. Set the highest amount of cash you are willing to pay for each item you have chosen. Keep your budget in mind when bidding.

If you are bidding on memorabilia, antiques, artwork, or vintage items which value may appreciate in the future, set your budget so it is worth the investment.

Any items you have won during the auction must be paid for that day. Often, credit cards are accepted as a form of payment but most auction companies require cash.

Do not forget to register.

Before you can participate at an auction, you need to register. You may be asked to give your name, address, phone number, and may be required to give a deposit. You will be then given a number you will use during the auction.

Do not get carried away

Emotions can run high during the bidding process. Stay focused! If the price of a particular item goes over your budget, let it go. Do not get frustrated and bid on other items you don't really want just to comfort yourself or just to have something to bring home. Again, you are putting money on the line so spend wisely.

Auction Guide for First Time Bidders

When you are going to an auction for the first time, there are specific things that you should know :

1. Obtain an auction brochure or catalogue. Do this at least a day before the auction date. This ensures that the goods for sale are what you need.

2. From the auction catalogue, identify what you want. If it's a car, do your research on its current market value online. Once you know its value on the market, you can set your budget.

3. At the day of the sale, phone in the auction house and confirm if the auction is going as scheduled as certain auctions can be subjected to last minute cancellations or rescheduling. Phoning in to confirm if the property or an item you are interested in is still on sale is something you should do before going to the auction house as well.

4. Once you arrive at the auction house, register to obtain a bidding number. You will be asked for your name, address, and contact number and will be asked to pay a deposit or pay a certain amount for the registration fee.

5. Come early. This allows you to inspect the auction goods properly before the bidding starts. An auction brochure may be helpful in providing information of the goods for sale; but physically inspecting the items before the sale allows you to determine if the goods are really worth any amount of your money. Do an ocular inspection, days before the scheduled auction if it is a piece of property.

6. Each item is designated with a lot number for easy reference. Take note of these numbers when you are inspecting the goods. The same number will be called during the actual auction.

7. Before the auction starts, the auctioneer will explain the rules. Listen attentively and keep your ears open for additional information on the goods up for bid.

8. Once the auctioneer calls for the starting bid, the bidding process begins. Each item may be sold within seconds. Once the lot number you are interested in is called, be alert and stay focus. Do not bid an amount you cannot afford. Stay within your set budget. Most first time bidders get carried away and bid higher than what they have originally planned.

9. If you have won an item, you will be asked to pay in partial or in full and to give your personal details the day of the auction.

Once it is all settled, you will be asked to sign an auction memorandum. The deal is done!

Guideline to Auctions for Bidder

This is a compilation of helpful tricks that could improve your bidding power.

How not to overbid.

Overbidding is a common problem among people participating at auctions. In sealed and silent bidding, it is easy to overbid since nobody else knows exactly how high or low the bids are. To ensure that someone wins the bids, he should give it his highest estimated value. On the other hand, the behavior of the crowd and the excitement encouraged by the auctioneer over the properties or items are enough to make people bid excessively. The easiest way to counter this is to do your research.

How to establish your price limit.

Realistic price limits could be made through critically listening to people's advice, from searching the same items online and through researching some information regarding the property or the item being auctioned. With enough information, you could come up with an estimated value of the merchandise. You don't have to be an auction guru to know how much an item is worth though.

It all boils down to research. Knowing something about the item could help you decide on how much you should be willing to bid on it. Doing your homework, getting hold of the actual auction catalogue or inspecting the items during their viewing period could help a lot not only on deciding which item to get but also the price limit you give to each item.

Maximize your time

Some auctions will give you sufficient time to inspect the item, some provide the catalogues. Whichever method is being used in the auction you are interested in, you should try to maximize your time by coming in the auction site early. By doing so you might get a chance to talk to the auction organizers and inquire about the items. This also gives you the advantage of getting a comfortable seat.

Attend some auctions beforehand

People who are serious about auctions try to find as much information about them as they can. One good way is to witness live auctions personally. There is so much going on, the hype, the excitement and the wars that normally happen. All these could give you reliable information once you decide to participate yourself. Initially, you should not place any bid- no matter how small the amount. Your intention is to get the feel of the auction process, nothing else.

Observe the crowd.

Bidders have different personalities- each of which work for their buying styles. Work out the differences and similarities among bidders and develop a style of your own. Take note of the style of the more successful ones.

A Quick Guide in Hosting a Fundraising Auction

Careful planning is needed by any successful event. You should sit down, talk with your team and plan for the event to organize a fundraising auction.

Gather the Auction Goods

Items that will be put on display may not be expensive and of the same kind. They could be some things like handicrafts, souvenir, commemorative items, collection items, sports or concert tickets, and gift certificates among others.

Set the stage

A fundraising auction used to be inserted with other event such as Sunday garden cookout, or spaghetti a dinner, or wine and cheese party. Prepare everything from food, chairs, tables, bid numbers, and stage. Your venue should be ideal to the event. You need to decorate indoor if you are holding it indoors.

If you are holding it outdoors, check the weather forecast. Always have a backup plan in case something cannot work well. You will expect the people coming to the auction to bid the give away money without hesitations. So it is very important to explain to the people personally about its goal and mission from this auction. This good understanding will be likely to increase the possibility of getting higher bids. Before the bidding starts, print out invitations and auction brochures or catalogues and give away to invited people.

Get a Good Auctioneer

One secret to a successful fundraising auction is to have a lively auctioneer. Because an enthused crowd may buy anything, even the most unlovable object will be sold for a considerable amount. Get it from your group member who has the talent and skill to connect with anyone.

Having a lively auctioneer is one of the most successful fundraising auction. It will make more crowd and make unlovable object will be sold for any higher value. Make sure to find talented and skillful people to run this role.

Hosting an fundraising auction is one of the most effective ways to raise money for a good cause.

ONLINE AUCTION

AdsSpy: 12 sites by this AdSense ID

Online Auction is one of the most popular Auction in the world. It only involves the person, computer , Auction house's website and internet connection. It is more flexible and easy for the bidder to search for the item, since they are no longer needed to attend the physical auction in the area. The good thing is people will be easy to search , consider and compare the item they are looking for nationwide from different auction house. They can check for the description that the seller placed into the website.

One thing they need to remember is the time limit for bidding. The best thing is to bid at the last minute and make sure to be ready with the highest price that you are willing to pay. The process is the same as physical auction. The different is you have to submit your maximum bid online. If the bidding has ended and you are the person who submit the highest bid, you will be the winner. The seller will send you notification to make payment online. Once the payment has been cleared, the seller will ship your item to your address.

If the other bidder outbid you, the seller will send you notification instantly that you have been outbidded, and offer you to outbid more. it will be up to you if you want to submit another higher bid to outbid another bidder.

There are so many Auction Houses that offer online auction via internet. They also include many items like they do in physical Auction Houses. Sometimes also the physical auction houses place their item to be auctioned online to get more distantly customer. And the chance to sell the item online will be more and more, since they can get more prospect nationwide, not limited to their area.

List of different Online Auction Houses has been summarized here on the right hand side of every pages of this website. So the reader will be easy to find and choose which one they like and start bidding on the item they are looking for.

Happy Bidding.

AdsSpy: 12 sites by this AdSense ID