How many different types of auctions are there, you ask? MANY.
Well, there are Dutch auctions, English auctions, online auctions, Weekly auctions, live auctions, Estate auctions, storage auctions, aaaah… and there’s more! #####
There are good auctions and bad auctions.
Open or English auctions are the most common. That’s where the auctioneer starts the bidding at a fictitious number, and anybody interested puts up their hand, and yells, ” yup”, or they just blurp out another number to their liking. As long as the number isn’t too insulting, the auctioneer will go with that number. Any bid is better than no bids, and that’s how they entice the peoples’ interested. It may start at $5, the next bidder $10 dollars until it stops at the highest number.
The man with the most gold does win.
Tip # 1 Auctioneers are ordinary people and after saying that, I mean there are good ones and bad ones.
Some of these auction houses will honestly tell you if there is a defect in the item your bidding on and will price it accordingly. Some will not ….so “BUYER BEWARE” and check your auction houses wisely.
There are many auctions sites that are run by very knowledgeable staff and auctioneers. They mostly sell high-end items, maybe a few cheapies, but that’s all part of an estate. For the most part, good items. Some auction will refuse lower end items. So bring lots of … green stamps, mullah, Money to them.
Tip # 2 Always help the auctioneer out by starting the bidding, most will remember you and will return the favor. Auctioneers like to keep items moving and by getting a bid in early, is better than later.
The general rule is, they will go through at least a 100 items an hour. Some auctions have their items tagged/numbered so you can get an idea when you’re watched furniture is coming up. … But most do not tag the item.
Tip # 3 Always, if you are the lucky buyer and think you scored big, remember that you have to add the Taxes on and of course, the auction house fees (15-20 %.). We all forget that part of the heat of the moment. In our part of the country, it’s another 25% on top of the bargain price of your item.
During the weekly auctions, there seem to be 2 groups of people that go. Weekends they cater to family and working-class people (with real jobs). You will see some of the older group; they may be out for the odd deal or just to stay active but that’s a good thing. Not all retired people go to the sunny south or even wants to.
There are buyers/dealers that take the buy-and-selling thing quite seriously and this is their motto,
“Buy low, sell high, “that’s a good thought.”
The fun for us is the chase, buying something Unique, going home, do a little research. We like to think that we have trained our eyes to look and find different things of interest, out of the norm, artifacts that you haven’t come across before, things you cant even find it on E-bay. That could be a really good thing. Eh
After refining our research, and your lucky enough to find some information that maybe, just maybe it come over on the “Mayflower”, or with “COLUMBUS” “ That’s a bonus!”
The Web is a wondrous thing. It can consume your time or you can use it to your advantage. It’s all there for the taking.
So, we don’t just buy to have things, we buy to sell. There is a name for people like us and we are called “Mercenaries” Colorful Label. It means we try not to get attached to anything.
Tip # 4 Buy only things you can carry and move. Do not expect anyone to help you.
Example, to move that big safe you bought because it was cheap,
No-Can-Doo, CANT FIND ANYBODY TO HELP.
Most of these auction houses and I don’t know why do not have people to help the patrons load their treasures. Some things just boggle the mind.
Tip # 5 Buyer Beware. Have Fun, look the items over well, especially the ones that you’re interested in. You don’t need any surprises when you get it home. Bid and buy what you can afford. Set yourself a limit to what you want to spend, try not to go over that set amount. We all get caught up in the moment and sometimes pay faaar too much.
AND THEN THERE’S THIS SAYING
This Famous Storage Auctioneer from London Ont. rule was,
“should have, Could Have, BUT DIDN’T” … Eh!
Have fun at the auctions and let’s make some “MONEY”.
Did I say we have many Antiques and Collectibles FOR SALE?
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