Bidding Advice:

Ten Steps To Better Buys

Auctioneer and Fairfield Auction co-owner Jack DeStories has some simple advice for auctiongoers. Whether a frequent attendee of these sometimes fast-paced events or a novice, the following could mean the difference between going home elated or disappointed.

1) Understand the rules. Be clear ahead of time on buyer’s premium, preview times, payment terms, pick-up/delivery options, and any other terms.

2) Don’t go hungry. Many auctions serve food, but often not much. It’s better to take the time for a good meal ahead of time. A hungry bidder is a distracted bidder.

3) Allow ample time. It’s always better to have too much than too little, especially when it comes to previewing.

4) Preview and use the catalog. A catalog lists all lots in the order being sold. Nobody can remember every item and its condition, but a catalog allows you to make notes and follow them as thing are sold. Make notes on as many things as possible.

5) Listen to the auctioneer. The auctioneer will announce any changes to the catalog such as a revised estimate or quantity.

6) Don’t attend. If attending auctions isn’t enjoyable or you have other things to do, leave absentee bids. It’s convenient and often you still buy things well below your maximum bid.

7) Bid your maximum. Remember your absentee bid is a maximum and the auctioneer can not exceed it, but you may get the item for less. Always ask yourself, “would I go one more bid?” Too many bidders come up short and regret not leaving a higher bid.

8) Make a longer list. Don’t focus on too few items. It’s easy to expect to buy everything you like, but if you have price limits (like most of us) you’ll want to have back-up choices or be prepared to come back next time.

9) Buy condition. It becomes easy to see similar looking objects as similar in value. But when it comes time to refinish that table, reupholster that sofa or repair that chipped vase, you’ll pay the difference and more – almost every time.

10) Don’t buy bargains. We all want bargains, but buying something based on price without regard to quality, utility, or beauty is a mistake. Every auction has its share of bargains, but the fundamental mistake novice bidders make is to bid because something “seems cheap.” Buying an object you enjoy is the wisest investment.