There is no greater thrill than bidding at an auction either online or offline. Of course, for some potential buyers, the idea of having to fight to buy something is unappealing. Auctions and bidding at an auction can also feel like a hassle to some. Then, of course, some people just don’t understand how auctions work. The purpose of this short guide is to give you a general overview of the many auctions out there and how to use them.
First is online auctions. When you think of online auctions, eBay comes to mind. eBay isn’t the only platform that has online auctions. There are many different auctioneers out there that have online auctions. Many of them use platforms like Hibid or Proxibid to host their auctions.
Online Auctions offer a simple system where you can place a bid that is higher than the previous one. These are much like a real auction as we will discuss below. For those not wanting to spend hours in front of their computer, they also offer a maximum bid feature. This is where you place the highest bid you will go. The system will automatically raise your bid if someone else bids. This does not mean that you will have to pay your max bid though.
Can you bid against yourself on an online auction? No. Placing in a new bid will either increase the maximum bidding or it will increase your current bid. Whoever has the highest bid by the end of the auction wins the item.
Live auctions have some similarities to online auctions. You are required to register for any live auction you attend and will typically be given a number on a sign.
Depending on the location, there will either be a seat provided or you will need to bring your own chairs. You should pick your seat as soon as possible to ensure you can see and hear the auctions. You are able to view the items before the auction starts to make sure they are in the condition that you want.
Bidding at a live auction is much more competitive. The auctioneer will list a price and to bid you raise your sign with the number. If no one else raises their sign before the auction says sold, you will win the item. Because of the fast-pace of the auctions, being able to listen and raise your sign as fast as possible is a must.
Much like online auctions, you can’t bid against yourself when you are in the lead. However, there is an exception to this rule. Sometimes, couples will both have the same number to bid with. If the couples aren’t together and don’t realize the other one is bidding on the item, the auctioneer may call both bids. This isn’t done on purpose. If the auctioneer knows the couple or sees the numbers are the same, he won’t take both bids.
As seen, bidding at auctions no matter if online or offline is a simple task. Some people might like online auctions more for the ease-of-use. Others may prefer the live auctions for the atmosphere and the people they get to meet. Regardless of which you prefer, bidding at an auction can be a fun way to spruce up your next buying experience.