Auctions: Sold

SOLD! To an auction aficionado, there is no sweeter word. Auctions are fabulous places to find unique items and bag big bargains. But before heading off to that great auction you've been waiting--and saving--for, take the time to follow some auction tips that can make you a better bidder.

Check It Out
Before the bidding starts, it's always a good idea to attend a preview or acquire a catalogue of the items up for bidding. Following this precaution will ensure that the items you are interested in are actually what you want or need. Call the auction house to confirm the time and location of the sale. In some cases, auctions can be abruptly cancelled. Calling before you actually travel saves you time, money and energy, and lets you avoid the disappointment and frustration of arriving to find the auction will not be taking place.

Ask and Inspect
Don't be afraid to ask for a thorough inspection of the items up for bid. Most auctions feature used merchandise, and rarely do these items come with any sort of warranty or guarantee. The most effective way to ensure your satisfaction with the items you purchase is to request an inspection. If the item you're interested in is reported or claimed to be faulty, be sure to verify exactly what the fault consists of. Ask the auctioneer if you can have the item tested. If the item needs to be fixed or modified, you can take the repair costs into account in determining your maximum bid amount. Motor vehicle auctions will usually grant a grace period. The winning bidder is allowed a pre-determined length of time in which the may be returned if it is found to have problems. Ask the auctioneer if warranties or grace periods are in effect.

Set Your Limit and Stay Within It
Auctions can be exciting, competitive, emotional and even aggressive. It's easy to lose yourself in the moment, and be taken in by other people's bids. If the competition gets hot and you can't bear to lose "your" item, you can easily go above and beyond your spending limit. Nothing beats old-fashioned discipline. Set a maximum price for each item, and try to stick to it. If you purchase five items and spend twenty dollars more on each one, you've gone a full one hundred dollars beyond your limit. Some auctions will tack on extra fees on top of the actual bid price, such as premiums or fees for guarantees. Local taxes may also apply. Be sure to check on sale conditions before you begin bidding. Consult with the auctioneer, or refer to the catalogue.

Not Exactly As Illustrated
Understand that catalogues are not written in stone; therefore any items included in them are subject to change. If you have your heart set on a particular item, consult with the auctioneer or preview the piece before you bid.

Watch and Listen
You already know that it's important to preview the items very carefully. It's equally important to hear what the auctioneer is saying. Listen carefully to the auctioneer's description of the items up for bid. There may be changes, defects or exclusions that you were not aware of. For example, that dining room set you've had your eye on may not be sold with the chest of drawers.

Auction sales present a whirlwind of excitement and huge savings opportunities. Take the time to make educated bids, and you may indeed find the bargain of a lifetime.