Live auctions can be intimidating for first-time visitors. That’s because, first-time buyers are often not aware of the process and protocol. Rather than suffer the consequences of not knowing, this article highlights all of the things that bidders should not be doing to ensure it is an enjoyable experience for all.
Wait Until After You’ve Won to Check Pick Up and Delivery
One of the things that first-time bidders forget to do is to check the stipulations surround the pick-up and delivery of the item. If the bidder fails to do this prior to placing their bid, they could be in for a costly surprise. That’s because some delivery fee will be up to the bidder to pay for, which can be costly if they’re transporting from Palm Beach to an auction house across the country. This can be an expensive ordeal if the item is large or delicate. As well, trying to coordinate the move can be stressful. Rather than dealing with these issues after the purchase, all bidders could check the listing prior to bidding to avoid disappointment.
Bidders that show excitement are at risk of losing in a bidding war. That’s because the more excitement that a bidder shows the more information they are giving away. Other bidders may interpret this excitement as a willingness to over pay. If the others are interested in this item, they may give out a high bid as a way to deter you from the item.
Get into a Bidding War
Bidding wars for items can be intense. Plus, when it is over the winner may find themselves paying more for the item than they initially intended to. First time bidders should avoid getting caught up in the excitement of these wars. As well, they should avoid competing for items they are not particularly interested in which could result in wasted money.
Give Your Maximum Immediately
Giving out the maximum amount that a bidder is willing to pay is a risky scenario. That’s because, if another bid comes in higher, they will be priced out of the sale. Rather, the bidder should begin with an amount less than their maximum. That way, if other bids do come in, the bidder can slowly increase. Plus, if no other bids come in against the initial one, the bidder can feel happy knowing that they did not to reach their maximum budget to buy the item.
Bid on Items You’re Unsure of
If you are unsure of an item, you should avoid placing a bid on it. That’s because it can result in regret and wasted costs if the bid does happen to win. Rather, it is best to seek out items that are worthy of investing in.