Thrifty Auction Tips

Posted on March 19th, 2012 by Discount Debbie

Does your town have a local auction? Our town has a HUGE auction service that has public auctions almost once every couple of weeks. It’s full of amazing finds. They have everything from cars and tractors to couches, kitchen tables and whole bedroom sets. And let me tell you something, I am addicted!

I’ve been going to these auctions with a friend of mine and have gotten some amazing deals. She got an entire almost brand new bedroom set for $100. And we aren’t talking someone’s junk, this is nice estate sale furniture. I was able to score an amazing chair for just $10!

In my auction going, I’ve definitely learned some rules and am grateful for my seasoned auction friend. Make sure to check if your town has a local auction and if so, here are some great tips to follow.

1. Go beforehand and check out the goods. You’ll have to check and see if you’re allowed to do this, but ours does. This is VERY important. One thing I see at the auction is people overbidding on items. I watched someone big on a wireless printer and went up to $60. They didn’t do their research because this particular printer cost $49 new! It’s very important you do your homework on what you want to bid on.

2. Know how much your item is worth. Even if you aren’t allowed to check out the items before, keep in mind what things cost in the store. This is VERY important or you will overbid and it wasn’t worth you going. If you have a smart phone, take it and Google the item first to see it’s value.

3. Stick to your bottom line. Again, this is VERY important. There is something about auctions that gets your blood going. There is a certain rush to it and you can easily overbid on something. However, set your bottom line and don’t go above it. For the amazing chair I got, I said I wasn’t going to pay more than $10 and I didn’t. It’s easy to say, “just $5 more” and get out of hand and out of budget. You have to be smart and willing to let an item go to get a good deal. Be willing to get something go. It probably won’t be the last time you have the opportunity.

4. Watch your hands and gestures. I’ve been some auctions where the person sneezes and the officials think it’s a bid. BE VERY CAREFUL! Be intentional with your bids and use good signals to make your bid.

5. Speak up! At my first auction, there was an item being bid on that was quite popular and there were a lot of people at this auction. There was a lady there bidding and she never got her bid in because she never got the auctioneer’s attention. Don’t be afraid to politely yell to get in on the bid. Once you are in, they usually pay attention to you.

Have you ever been to an auction? Share your amazing deals with us!

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