Auction Tips

If you are in the market for some new office equipment, machinery or heavy plant items it can certainly pay to investigate the possibility of some good auctions or estate sales in your area. Sometimes, when a farmer passes away there is nobody in the family who wants to take on the arduous task of running a solvent farm and in such cases an estate sale is held. The first tip here is to jump at the chance of attending such a sale as you never know what you can find and it is always an ‘everything must go’ scenario.

Of course, it is by far more common to find some likely local auctions to go to in order to boost your stock of power tools or plant items. As with any type of auction there are some incredibly important things to remember and plenty of things to ensure that you do as well as a range of things not to do to ensure that you don’t fall foul of any auction day pitfalls.

  • Arrive early: It is imperative that you arrive early on the day of the auction because you will need that time to peruse the lots and inspect any likely contenders carefully. Remember that the auction lots are not laid out in the sort of logical order you find in a shop and so extra browsing time must be factored in.
  • Observe the competition: Make sure you study the body language of your competitors. If they see you are interested in a lot and come over to offer advice on how it is a rip-off or a waste of money, rest assured that they will be bidding on that lot!
  • Set your limits and stick to them: Auction houses are exciting and feverish environments and it is easy to get caught up in the excitement of things and end up paying more than you are comfortable with. Take notes on your phone or on a piece of paper with the lot numbers and your maximum price.
  • Read between the lines: Remember that auctioneers are slippery customers too. You need to brush up on your understanding of jargon and descriptions. If something is sold ‘as seen’ there is a good chance it means that it is not in working order. There will be no recourse if you come back crying about a defective item after the event unless it was specifically listed as ‘working’.
  • Beware the auctioneer’s plants: In less reputable auction houses it has been known for auctioneers to ‘seed’ the crowd with some of their own people in order to bid customers up on some lots. This shouldn’t happen and if you experience this in an auction house it’s best to up and leave and find a more reputable auctioneers.
  • Keep your energy levels up: Auctions can be long old days, especially if you are interested in lots widely spread apart. It is important to keep well hydrated and fed. The healthy body, healthy mind mantra will ensure you don’t make crazy decisions based on a rumbling stomach!