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Published On: Tue, Dec 4th, 2018

Helpful tips to place bids in auctions for getting a great deal

Auctions have always been something which has attracted people to a great extent. The reason for this is a fun factor, the “who gets the product” silent war, antique products, some money show off gestures, etc. Some people also see auction as a way to test their luck like the game of gamble. Since the olden days, there are several trends which kept coming and going in auctions. The modern-day auctions are quite advanced and bidder friendly which benefits both the auctioneer and the bidders. There are high chances of profits are every auction deal, but if you do not place smart bids, it may even lead to heavy losses. Here are a few smart tips in which will help you to make great deals at your next auction.

Always reach before time: It is advisable to reach the auction house at least 30 minutes early before it starts. This will allow you to select a perfect place from where you can observe the products closely and also listen to the auctioneer clearly. Apart from that if you can also research on the internet about some unpacked products and know their value in the market before the auction starts. Also, if the auction is live made sure you are attending the best live auctions offering great products with good internet connectivity.

Make your list: The auction can have a lot of items which you are not interested in. Hence make a list of items in a prior basis as to what products you actually want to buy. This will save you from buying unnecessary products and getting easily convinced by the auctioneer.

Balance your bids: you cannot always land up buying all that you want or all the expensive stuff in the auction. Sometimes your budget may go overhead due to a product which highly unique; buy it only if you think that it has great value in the market and it can give you a good profit. In this case when you buy something very expensive than balance it by reducing one item from your list or avoid buying other items at a very high cost.

Take along a mentor: if you are new to auctions or maybe you are attending a particular kind of action which you have never been too, e.g., a painting auction, and you do not have much idea about art then take along someone who is an artist or has deep knowledge about art and its history. The smartphones do help you a lot, but an expert always can suggest you what to buy and what not just by looking at the details and appearance of that particular product.

Apart from the above tips also physically analyzing the products condition is very necessary as most of the goods are non-returnable in auctions In case of premium or antique product never forget to take its authenticity certificate as buying expensive goods without its authenticity certificate will reduce its price a lot and people may also future buyers can be very judgmental about the authentic value of the product.

Author: Charlie Brown

photo/ The Digital Artist

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