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Are You Prepared to Attend an Internet Auction?
I attended live auctions with my family as long as I can remember. In those days the auctions were country auctions held on Saturday and Sundays in the outbuildings of farms and flea markets. There was no seating, no bright lights, and no second chances if you won or lost a bid.
As a child I was not allowed to bid but I did watch the other bidders as they focused on the items and bidding strategies of their opponents as they developed their own bidding strategy to win the items of choice. There were no friends during the auction. Only after the last pound of the gavel and the words "Sold Bidder # _" did the friendships revive and the storytelling begin.
Watching the bidders was often more fun than seeing what was being auctioned. Eyes glanced from side to side, then down and to the side again. Pencil and paper in hand they tracked the prices realized for those items won and lost. Eye contact was avoided among the bidders, their body movements were more revealing of their intent to continue bidding or not.
Occasionally a bidding war ensured. It usually started with three bidders. This would continue for about a minute then one bidder would lower their head and turn their body, indicating they were now out. The audience would follow the remaining two bidders turning to look at each as the bidders held constant their number or slightly nodded their head alerting the auctioneer to continue.
In the parking lots the trading began as winners examined their purchases imagining the prices they would gain and losers approached winners to inquire if they could strike a deal.
Attending a live auction requires people watching, learning the nonverbal behaviors and what they mean to those you are bidding against. I have always found watching the bidding audience as well as the auctioneer to be helpful in my own bidding. At times this knowledge has allowed me to win a sleeper; other times it has stopped me from bidding beyond reason for an item.
The most noticeable difference between bidding at a live auction versus an internet auction is that there is no personal verbal and nonverbal communication among bidders or the auctioneer. If you are a people watcher like myself, this may determine whether you are destined to enjoy bidding at such auctions.
To get a sense of what it is liketoattend an auction follow different on-line auctions to get a feel for the bidding process. You will also learn whether you like bidding against unknown and unseen bidders.
The most noticeable difference between bidding at a live auction versus an internet auction is that there is no personal verbal and nonverbal communication among bidders or the auctioneer. If you are a people watcher like myself, this may determine whether you are destined to enjoy bidding at such auctions.
To get a sense of what it is liketoattend an auction follow different on-line auctions to get a feel for the bidding process. You will also learn whether you like bidding against unknown and unseen bidders.
You must make quicker decisions when bidding on the internet, these auctions move quickly!
6 Quick Tips for Bidding at Internet Auctions
1. Search a site such asProxiBid to explore the types of auctions offered.
2. Visit the sites of auctions you find interesting, jewelry, autos, art, etc.
3. Register for an auction that interests you. Be sure to read the policies of the auction house, policies differ from auctioneer to auctioneer.
4. Review the online catalogue of items to be auctioned. Complete this several times. Select items of interest to you.
Determine the highest bid you will make on each item
5. Follow through with you financial plan developed in step 4.
6. Celebrate a winning bid.
Till next time, stay well, stay happy
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