| Hi, my name is Walt. I'm an auctioneer with 25 years | | | | classified ad section rather than flashy display ads. |
| of experience in the auction business and licensed in | | | | Flashy ads are usually indicative of an auction that will |
| the state of MA. I own Quick Auction Service, a | | | | be high priced, may have reserves, (a set price on an |
| company that specializes in building and running | | | | item), and usually an enormous crowd. While any |
| custom auctions, I'm also the webmaster of my own | | | | auction can be profitable to attend, it is usually best |
| site and have been on eBay for 8 years. Besides | | | | to steer clear of the glitzy ones, at least for the |
| eBay, the types of auctions I run most frequently | | | | beginner. |
| are antiques and on-site estate auctions, although I've | | | | Here's the minimum you want to find out before you |
| run everything from business overstock auctions to | | | | go. If there is a phone number in the ad, call and ask |
| charity & special event auctions. | | | | for the terms of the sale. What forms of payment |
| I enjoy sharing my knowledge and stories of the | | | | do they accept? Is it an absolute auction? An |
| auction business. My goal for article is to help folks | | | | absolute auction is one that has no minimum or |
| get the absolute most out of their auction | | | | reserve bids on items. These are the best auctions |
| experience. | | | | to attend! Is there a buyers premium? A buyers |
| Whether your fresh out of the package or a | | | | premium is like a tax that everyone who makes |
| seasoned dealer I think I can offer something in this | | | | purchases at that auction must pay above the |
| article to help you with your auciton adventures. | | | | winning bid price. Most auctions these days do charge |
| There may be as many reasons to attend auctions | | | | a buyers premium, 10% is not unreasonable but I feel |
| as there are types of auctions to attend. Maybe you | | | | much more than that is greedy, and the auctioneer |
| want to attend an auction to buy items for re-sale | | | | that charges over 10% is counting on most bidders |
| on eBay, or some other market. Maybe you want to | | | | not doing the extra math as the bids quicken in pace. |
| furnish your home with wonderful antiques, or you | | | | A fair auction will have ample time to inspect the |
| want to furnish your home as inexpensively without | | | | merchandise, usually at least 2 or 3 hours. Find out |
| sacrificing quality.Some folks are just looking for a fun | | | | when inspection starts and make sure to attend! |
| night out. With a little perseverance all these things | | | | Never attend an auction if you can't make the |
| are possible. | | | | inspection, not unless your prepared to gamble. Most |
| There are antiques and estate auctions, auto | | | | auctioneers sell at a rate of about 100 items per |
| auctions, overstock auctions, absolute and no | | | | hour, which is why they sell "as is". They simply don't |
| reserve auctions, real estate auctions, specialty | | | | have the time to give a detailed description of all the |
| auctions where only one genre of items are sold, | | | | items. Since almost all items at auction are sold AS |
| tailgate auctions, live auctions, online auctions, sealed | | | | IS, there are sure to be some damaged, refinished, |
| bid auctions, silent auctions, charity and fund raising | | | | fake and incomplete items at any given auction. |
| auctions and many more. | | | | Beware of any auctions that offer very little or no |
| Can you really buy for pennies on the dollar at an | | | | inspection time. |
| auction? You bet! Many times I've seen folks buy and | | | | Good auctions will usually have 150 to 400 lots. A lot |
| re-sell at the same auction on the same night for a | | | | may be one item or a group of items. The exception |
| good profit, although be advised, this should only be | | | | to this are specialty auctions, auto auctions, real |
| done after the auction is over. | | | | estate auctions etc. |
| There are a lot of ways to find an auction, but here | | | | When you attend your first sale, take note of the 1 |
| are some tips on how to find and attend the best | | | | 2 dozen or so dealers that buy the most often. See |
| ones. | | | | if you can find out about other area auctions they |
| Visit the genre of shops in the area that apply to the | | | | attend. |
| type of auction you want to attend. IE: If your | | | | When you do find an excellent auction, attend it as |
| looking for a good antique auction to attend, stop in | | | | often as possible. By frequenting good sales, you help |
| the local antiques shops and ask for what there are | | | | increase the bottom line of that business. It's difficult |
| for good auctions in the area. Sounds obvious right? | | | | for many auctioneers to keep the quality of |
| But listen to what they don't say as well as what | | | | merchandise consistent, so good attendance certainly |
| they do say. Oftentimes when a dealer speaks | | | | helps. And when an auctioneer gets to know you as |
| poorly about an auction he or she attends, it may be | | | | a buyer, he/she will go out of the way to |
| likely that they are trying to keep a good thing | | | | accommodate you, to keep you coming back. |
| secret. Think for a moment, why would a dealer | | | | Attend an auction this week, it's one of the only |
| keep attending a lousy auction? | | | | market places where you can set the price. |
| Newspaper ads: I personally like to find ads in the | | | | Thanks for reading and have fun. |