So I haven't been to an auction...

[krawlr]

And I'm thinking of going to one this weekend if my sinusus let me. Can someone fill me in on the basics?

-mostly curious about methods of payment
-do I come prepared to haul the day of auction?
-any other tips and info would be great

[Craig A]

-mostly curious about methods of payment

CASH or check......very few small time auctioneers bother with plastic.

-do I come prepared to haul the day of auction?

Unless it's very close to home where a trip back isn't a big deal.......yes.......be a Boy Scout.......

-any other tips and info would be great

Take a chill pill to stop you from contracting dreaded "auction fever" which is WONDERFUL for the seller but sucks for you.......
Know what you want,what you will pay and stick to it.
If it's a hot item and the bidding is fast don't even bother bidding until you think you might have a shot.......
If it's high dollar throw in a high opening bid, weed out 2/3 of the bidders right off the bat and NEVER hesitate bidding back.......

[John in Maryland]

Yup you have to pay the same day. Get there an hour or so early to look things over and decide what you might want to bid on. The terms are established by the auction company. It's usually cash or good check. Some take credit cards but charge and extra fee for processing. They usually give you a couple of days to remove large items and equipment. I'd be prepared to haul the same day, wouldn't leave anything behind because it might not be there when you go back. Don't get caught up in bidding, be patient. Decide how much an items worth (to you) and stick to that number. Happy bidding.

J.I.M.

[Ed Radtke]

And be prepared to pay a buyers premium.

[oldtool53]

Hi,

Get there early so you can look over everything. Once bidding begins it can be hard to seee through all of the people at what is up for bid. Listen to auctioneers instructions, some items are "choice" or "lot". Be sure to keep an eye on the items you have won. Sometimes auctions attract some shady characters. Most important is to have fun !!

Mark

[handlebar99]

And be prepared to pay sales tax--(The combination of buyers premium and sales tax can add a significant amount to your bid.) I tend to stay in the back of the crowd -- so I can see who I am bidding against (if anyone). Reputable Auctioneers will state when they have a "phone" bid or a "left" bid.
If you are bidding on a "box lot" be sure that what you think is in that lot is still there. (Some folks have a bad habit of moving things from lot to lot.)

I love an auction -- there is always the possibility of a wonderful bargain ( or if you are selling, the opportunity to make a great score).

Your mileage may vary-- but just consider the source.

The cranky old guy in Rifton,

Ray Rice

[HBurk]

Some folks won't go home with an empty truck, no matter how rediculous the price, so be prepared to stop when you get to your limit. Like Craig said.

[Keith Thomas]

Get there early or if it's close you may be able to look it over the day or evening before. This gives you time to do some research and don't forget to take some of your favorite reference books along.
Take notes and write down lot numbers, when the bidding starts those boxes all look alike.
Watch out on box lots, some slimy types will switch good items and hide them in a box of junk.
If you really want something, be careful who you talk to and what you share with people you don't know. It can come back to bite you. Share your knowledge AFTER it's yours.
Ask questions of staff before it starts, they will be happy to explain things to you.
Take your camera, even if you don't buy a thing, an auction is a great place to learn. (even the old timers will see something new now and then)
Have a piece of pie and a ham sandwhich from the food trailer and enjoy yourself!
Keith

[walter neumann jr]

dont scratch your nose or wave at anybody or nod your head you might endup with more than you thought