By: Gov Auctions | 29 December 2013
Guide to Attending a Live Auction
Those who love a good bargain and great deals will enjoy live auctions. Live auctions feature everything from cars to property, and the right type of auction will help the buyer save a considerable amount of money off the standard retail price.
If a preview is being offered, the buyer should attend. Previews give the bidders a chance to review and inspect the item being sold. For car auctions, the buyer might even be able to test-drive the car. Previews are usually held in the days before the auction date. Some buyers like to take photos and notes to ensure the item is sold in the same condition on auction day.
After the preview, the buyer should do some product research to obtain a good idea about price range and product condition. The research can also give the a buyer a good idea about ongoing costs of ownership (such as maintenance and servicing) where applicable.
Before the Auction
After doing research, the buyer will be ready to set a high bid limit. This is the highest price the bidder is willing to pay for the items, and it is by no means the first bid the buyer should submit.
Finding an Auction
Some buyers do not know how to find the right auction for the product they would like to purchase. Looking online and joining mailing lists are two ways to find auctions, and the Internet is probably the best resource for finding suitable auctions, whether the buyer is looking for a car, house, or some other item.