Auctions are an exciting and thrilling opportunity to have fun and make some great purchases at the same time, hence why so many people attend auctions religiously in order to take advantage of some fantastic deals. But if you are one of the people who have never been to an auction, there are some things you should now before you attend your first one. That’s why we have put together this handy guide detailing 6 crucial tips you should know about auction etiquette.
Follow these, and you have an even greater chance of success at auction.
Know your limits
One of the best things about auctions is the rush of excitement they give you when you’re bidding on something you really want. The atmosphere is tense and the pace is fast, and this means that it’s easy to get carried away if you are not used to the way things go at auction. But making a bid on a whim still counts as making a bid, and you can’t walk away once you have agreed to pay for something, so be sure to quit while you are ahead and stop bidding once you reach your limit.
Catch the auctioneer’s eye
Once the bidding gets underway, there’s a strong chance that there will be more than one person trying to bid at the same time, making it important that you make yourself known. This is even truer in cases where you’re auctioning from within a large crowd. Don’t be afraid to raise your hand or hold up your card and keep it raised until the auctioneer notices you. After that, they will go back to you to bid again so you can simply nod your head to acknowledge your continued interest.
Don’t go just to compete with others
Anybody who frequently watches auction shows on the television knows that unfortunately some people don’t always play fair. There is always the person who comes along with the intention of antagonising others and making his or her competition pay higher. He or she bids on items just to raise the price and then drops out just before the end to make the price rise higher than it normally would. This does nothing but annoy other people in attendance, so be fair and keep the atmosphere positive.
Know what you are looking for
There is something to be said for attending an auction blind and just seeing what comes up, but it can be dangerous. If you are new to auctions it is probably more advisable to do your research beforehand and have a clear idea of what you want to come out of the auction with. At an auction, anything from heirlooms and jewellery to properties can be put up for sale, depending on the circumstances. If you’re looking to purchase a property at auction, consider an auction bridging loan to ensure you have the financial support you need. These are available from providers like Glenhawk.
When the bidding starts, it’s time to focus. There’s nothing wrong with engaging in a little chit chat in between items, but even if a bid starts which you are not interested in, someone else will be and your talking might distract them.
Don’t bring the family
Family time is important, but an auction is not the time or the place. Like talking, bringing kids or pets along with you to an auction can distract you and others from bids which might otherwise result in great sales. Be considerate of others in attendance and keep the atmosphere respectful, quiet and fun. That way, your first auction is more likely to be a success.