Tips for Bidders

How to make the most of
live auction bidding

by Fergus Prestbye

Fergus Prestbye

1. Preview! Preview! Preview! Using a tape measure, magnifying glass, or penlight, examine each item you intend to bid for in advance of the auctions. Bidding on items you haven't previewed will often be disappointing.
2. Predetermine a dollar range of bidding limits for each item you review, usually a space of 15 to 20 percent. Stick to your predetermined limits!
3. Establish the category of auction merchandise you are interested in to avoid bidding on unrelated items that may appear to be selling at a "bargain price" but really have no value to you.
4. Attend ONLY auctions advertised as "no minimum no reserve" to avoid base-price starting bids, bumps, and shills. Ask if uncertain.
5. Let others begin and continue the bidding until the last possible moment and then signal for a half-bid increment.
6. Give your bid only to the auctioneer to avoid spotters and ringmen. Maintain control of your own bidding pattern.
7. Pace your response to the auctioneer to be slower than his chant in order to distract and discourage other bidders.
8. Try not to accept the auctioneer's requested bid increase without making an effort at getting it halved. Use hand or voice to communicate this.
9. Pay cash for all auction purchases to avoid add-on-bankcard charges and interest. You may also wish to buy from other successful bidders after the sale, and for that, you'll need cash.
10. Become personally acquainted with auctioneers in your area. Most will appreciate your consistent attendance and will often provide you with tips that can give you a last minute advantage.

Copyright 1991 with all rights reserved. This may not be reproduced in any manner without written permission.