Earth Station 9 - Relevance is Everything

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An Auction Guide
 
 

 

The Process - Index

  

  • The most crucial part of an auction is the tempo. A constant flow and variety is maintained or bidders lose interest, and sellers lose sales. In the beginning people are still getting settled, item prices are usually low. A variety of items are presented to start the process and get a feel of what people are looking for and then concentration is focused on giving bidders what they want. Once that threshold and the invisible $25 barrier are broken, things pick up, people start bidding and the real business starts. Towards the end of the auction, prices usually get cheaper (most people run out of money). As a result, unless it's imperative that everything must be sold that day, the auctioneer can elect to: auction the remainder of a lot, auction only lower end household items until auction time is over or quit all together.

  • When you attend an auction you should have a good idea of what you want and the price you are willing to pay. Remember to have a price established in your mind before you bid on anything. I have seen many people get carried away and not just wind up spending more money then they wanted, but also more than the item is worth.

  • When you attend an auction you should have a good idea of what you want and the price you are willing to pay. Remember to have a price established in your mind before you bid on anything. I have seen many people get carried away and not just wind up spending more money then they wanted, but also more than the item is worth.

  • From an auctioning point of view, the audience is the most important part of an auction. Without an audience the auction is a failure. I have participated in many auctions where less than 30 bidders were present and others that had over 200 bidders. And believe it or not the going prices were comparable. It's not necessarily the quantity of bidders that make a successful auction, but the interest in the items sold. You only need two interested bidders.

  • Once an auctioneer is established and trusted, which takes many years to develop and maintain, many 'regulars' and 'collectors' attend on a consistent basis. These people form the foundation of any auction. They pay consistent prices for items in good condition and respect the auctioneer and his crew. Which makes good business for the seller as well as the buyer. 

  • Navigation is accomplished by using the main menu on the left. Just click on the red help book next to the words Auction Guide and the topics will unfold. Or you can use the index below.
      
     

 

    

Copyright Information 

  

  • This reference is here for informational purposes only.

  • This guide may be freely distributed providing that I have been credited as the author, and a link to this website has been placed on each chapter. Thank You.

  • I would appreciate an email if you did use excerpts from this guide. But it's not necessary.

  • Written and Copyrighted 1997-2001 by Stan Daniloski,  Earth Station 9.

  

    
 

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