By: Gov Auctions | 7 February 2013
How to Keep Your Cool During Auction Bidding
Auctions can be a great way to find some amazing deals, but they can also provide an easy way to overspend if you are unable to keep your cool when bidding. The following looks at some handy tips for staying calm while bidding at an auction.
Watch a Few First
If you have never been to an auction before it can be quite an overwhelming experience to go for the first time, so whether you are planning to buy cheap cars or a house, it is a good idea to go to a few auctions as a spectator first. By watching a few auctions you will get a feel for the pressure and excitement you can expect, which will vastly reduce the chance of you being overwhelmed when the time comes for you to take part.
An extremely effective way to deal with any sort of pressure situation is to spend some time visualizing it beforehand, because having pictured the scenario a few times in your mind ahead of time you will be less likely to lose your cool when the situation comes around in real life. So spend some time imagining that you are at the auction, that you are keeping your cool and that things are working out well in your favour. This way you will be a whole lot calmer when you do attend the auction, as you’ll feel like you have some experience dealing with the situation.
Bring a Friend
A great way to keep calm when bidding at an auction is to bring a friend along with you, because your friend will be able to help keep you calm if you start getting a little too stressed or over-excited. However make sure that you bring a friend that is a calm type of person and if possible someone who has some experience dealing with auctions, because if your friend isn’t able to keep their cool there isn’t much chance that you will be able to keep yours.
Know What You Want
It will be a lot easier keeping your cool during an auction if you know exactly what it is that you are after, so whether you are heading to a government car auction or an estate sale, knowing exactly what you want and how much you can afford to spend will mean you have clear boundaries in which to operate. Creating a list of ‘must-have features’ that you are looking for will help to prevent you from chasing after items you want but don’t need, and with a well-established budget you will be far less likely to bid for more than you can afford.
To give yourself the best chance of keeping your cool at an auction it is a good idea to arrive as early as possible, because apart from allowing plenty of time to properly check out all those auction items, getting there early will also give you some time to settle in and find a good spot. Feeling prepared and ready before an auction will often have a big impact on how calm you are once the bidding gets started.