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SpinDistribute.com Article Directory

The following article was published in our article directory on October 9, 2010.
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Auction Buying Tips

Article Category: Advice

Author Name: Charles Lu

If you're wanting to buy at a discount to retail have you considered buying at auction? Everyday there are auctions held for a diverse range of goods, electronics, machinery, equipment and more. These items can sometimes even be new but mostly from insurance company, finance company, ex-lease or ex-government.

Buying at auction can be a great method to save money but for newbies here's a few tips to help get you started:

Remember to keep your emotions in check, there's something about bidding at auction that gets your blood flowing, and this rush can also see your cash flowing.

Auctioneers at auction centers try hard to get potential buyers attention and to build excitement. They know that once all the buyers are in a battle that common sense can go out the door and that emotions start to come into play.

For the bidder the excitement of succeeding overcomes rationality, and that need to win can be further entrenched by the feeling of frustration caused by missing out on a previous item.

It's sometimes worthwhile going to several auctions as an observer, watch the auctioneer, watch the bidders and understand what's happening. Keep focused on what you really want and what you are prepared to pay.

Plenty of people come home from auctions with their boot full of rubbish. Remember to keep focused on why you went to the auction and what you came to buy.

There's no point loading up your home with other peoples waste and, in many cases, auctions are often used as a dumping ground for things that really should have gone to the tip or been recycled into something more useful.

Before going to the sale you should have a sound knowledge about what it is that you plan to buy. This includes what a similar item sells for new, what the item sells for at a dealer or their average prices in the classifieds. Also check out various online auction sites for average sale prices, in many cases traditional auctions realize lower prices than online sales.

Be sure about what you are bidding on. Sometimes minor specification differences make big differences to the real world price of an item. Be sure you are not comparing apples against oranges when deciding on the value of an item.

Never be scared to ask questions prior to auction. It can be hard to determine the condition of some items at auction, so the only tool you may have is to ask the auctioneer for some history on the item. Knowing a little history of who the previous owner was and why the item is at auction may help to get a better picture of the items real value.

Keywords: auction bidding shopping tips

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