Going to an Auction in 5 Easy Steps

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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

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