- This topic has 10 replies, 7 voices, and was last updated 6 years, 5 months ago by
.
-
Posts
-
-
I have never been to an auction and have always wanted to go. Unfortunately as I scroll through auctionzip I am a bit confused. What are the key things to look for in an auction? I love the idea of buying a tablelot or box lots so it can be the best in COG while I learn the ins and outs of auctions. So when you are scouting auctions online what catches your eye and gives you a hint this may have hidden gems? The auctions tend to be further from my house in weekdays so I’d really like to make an educated guess on which ones may be better.
Thanks!!!
-
Almost impossible to tell from the auction zip listings. You just have to start attending different ones.
Photos are nice but they never tell the story. There can be gems hidden in the boxes you’ll never see online. Or it’ll all be actual junk. The people who run the auction can be an awesome family who are super professional, or the auctioneer is slow, inefficient, and has lazy staff.
In my opinion, auctions should be fun to be at. And usually the fun auctions also attract the best estates to sell.
-
autumnforest,
There are basically two kinds (there are all sort of twists, but I’m generalizing) of auctions:
1. A weekly auction at the auction house.
Pros: a. You always know when and where the auction is.
b. If it is a good auction house, you can milk it for years.
c. You get to know the auctioneer and the people that go thereCons: a. Everyone knows when and where the auction is and they tend to be well attended (meaning the bidding usually goes high.
b. If there are certain things you don’t like, they usually don’t change
2. An on-site auction – either at a house, business, etc.
Pros: a. These are usually not as well attended because it is a one time thing is a distinct location. That usually makes for good prices.
Cons: a. You have to look harder for these.
I prefer the on-site auction because you can get some great deals.
Thoughts anyone?
Mark
-
I look for auctions that are large, have lots of stuff, and maybe more than one auctioneer at a time. It kind of sounds like a circus, such as “3-ring auction”.
It’s easy to skip the ones that aren’t what you are looking for – real estate, office or business/commercial equipment, storage units, and high-end auctions. The high-end ones will sell each item individually, so it will list specific items in the description and show one or two items per photo. The photos will look at least somewhat professional.
The ones you want will group stuff together and, except for a few special things, not specifically mention particular items. The following is an auction that I would normally go to this Thursday, but I have a conflict. You can see that the AuctionZip listing specifically mentions box lots, broad general categories, and how big it is:
https://www.auctionzip.com/Listings/3304201.html?kwd=&zip=08816&category=0The other auction I really like to go to is not having its regular sale this month, so the link below is to last month. It isn’t as large as the one above, but it has similarities. For this one, I think, the defining factor is that it has more than one auctioneer at a time, several categories of items, and the location of a pole barn. I mean, you can’t have anything too fancy in a barn!
https://www.auctionzip.com/Listings/3351721.html?kwd=&zip=08816&category=0 -
@MarkS – I don’t check AuctionZip all that often now that I have two regular auctions that I go to. However, I did go to an onsite one recently, and I got some excellent items for quite cheap. I have to start looking at those more often.
One thing I have noticed is that this time of the year, less than two months until the holidays, the bidding goes higher and the deals are not quite as good. I would say the same for the first three or so months of the new year. I assume people are spending their Christmas money, resupplying from forth quarter, or going to auctions because there aren’t many garage sales during that time.
The regular auctions that I go to aren’t weekly. They are mostly monthly. I don’t know if that is a regional sort of thing.
-
You guys are awesome! Thank you. I appreciate each one of you helping me with tips and hints. I am so grateful to have people to “talk shop with”. So many people glaze over or struggle not to let their mouth gape open when I tell them what I do in my “spare time”. Im going to go look at the links Sharon to see what draws you.
I found an auction house about 40 minutes from my house that has weekly auctions on Thursdays. I’m going to check it out next week. Then I’m going to start looking at some rustic locations to peruse. The most enjoyable part of life is learning new things and auctions sound like they will be enjoyable to learn. I’ll report back.
This is so much fun!!
-
http://www.estatesales.net has auctions as well as estate sales listed and is worth a look. I have better luck in this area with them.
-
Some tips what might be useful. Based on experiences at UK auctions.
Two bidders at a time only- wait until the auctioneer’s inviting further bids before waggling your paddle.
Don’t hold your arm up all the time to indicate you’re willing to continue bidding- leave the competition guessing!
Don’t forget the commission on top of the bid.
If you buy a box of stuff, check it’s all there. I bid £400 on a box of lenses, only to find that someone had half-inched the £1,000 one. Fortunately I was able to demonstrate to the firm that it’d gone- here you have to pay before you get to handle the goods you’ve won.
-
Thank you. I will absolutely take a look. I really appreciate you taking the time to help me.
-
Thank you Antique Frog. I am pretty naïve so I could see me missing a tricky person removing something from a bin. Not how I think so I can imagine I’d be confused when I noticed it was gone. As far as the bidding etiquette I’m glad you mentioned it. I will take your advice. My first auction will Be this Thursday. I will watch and enjoy and hopefully I will have some fun.
-
-
-
I love the onsite auctions. Theyre usually outside in all sorts of weather. Regularly get several boxes of junk for $1-5 because nobody bids and they keep adding another box to the lot. They can definitely be hit or miss as they’re usually an estate and some people dont have a lot of nice stuff. A couple auctioneers will make a pile of junk and then ask me to pay $1 for it so they dont have to haul it. I’ve found some good stuff buried in those boxes every single time. I guess I quickly became known as a trash elf.
Theres an auction house 30 minutes away that holds an auction indoor every 2 weeks, but the prices are sometimes too high. They dont want to sell anything under $10 and lately they’ve been openly disgusted with low bids and refused to sell them. I may have to stop going here if it continues. The auctioneer literally bidding $5 more than the opener just to drum up the bid for the 1 interested buyer. His excuse is that he will just list it online or send it to a store “up north” for those prices. That basically means resellers not welcome to me, though most of the attendees do resell.
-
- You must be logged in to reply to this topic.