Friday, March 25, 2011

How to bid and win at a live auction

From Gold and Silver hallmarks

Unless you’re a dab hand at the bidding, auctions can be a little bit intimidating, but the process is a lot of fun and by following these simple tips you will bid successfully and still be smiling when the hammer falls.

Auction is like live theatre and the buyers are part of the action. It has two main stages.

First stage is the preview before the auction where prospective buyers can either visit the salerooms to examine the goods or in some cases view brief details of the items via the internet.

This is the time to ask questions and find out background information on the goods you may wish to bid on.

“Check your catalogue, decide your top price and more importantly stick to it!”
It's once you’ve decided to bid on an item that the hard part starts!

How to bid successfully at auctions.

If you’ve seen something you fancy that you want to bid for, what’s next? Go to the office, fill out a registration form and you get your own personal paddle number.

Now you’re ready to bid!
The next step is simply making sure that once you’ve seen something that has caught your eye, that you get the attention of the auctioneer – but how?

“Do you bid subtly, not drawing attention to yourself? Or do you use hand and eye gestures to make your bid? Do you get so excited that the auctioneer couldn’t possibly miss your bid?

"The answer is it doesn’t matter – just make sure the auctioneer can see you!”

More on How to bid at live auctions

How to Invest in Gold and Silver: A complete guide from an investor's viewpoint by ECKO House Publishing