Some people have been attending auctions for years, and they’ll have some stories to share, for sure! Others are new to auctions and might not know too much about how auctions work. For those who are fairly new to “the auction world,” here are some tips regarding what not to do at auctions…
An in-person auction is a time of energy and excitement. Auctions get people’s adrenaline pumping, and sometimes they get nervous. Body language matters at auctions. Strategic thinking also plays a role in the outcome of an auction.
If you bring a partner along to an auction, it’s best not to talk to them during an auction because that’s a sign “we’re almost out of money.” Basically, you don’t want to expose yourself, financially, for others to see because you don’t want to give them a competitive edge. It’s also a bad idea to get on your phone in the middle of an auction. If you do, that shows you’re close to running out of money to bid, and, again, that tells others so they know too much about your situation!
Body language can also show others how you’re feeling, so try not to give off a nervous vibe. Those who can have neutral facial expressions and calm bodies even during tense bidding wars put themselves at a competitive advantage during an auction.
If you’re tempted to bring the whole family along, please don’t because then competitors will get the idea which property you really, really want, and you don’t want them to know this information.
Finally, carefully choose your attire. You’d be surprised at the assumptions others can make based upon what other bidders are wearing, so be sure to select an outfit that doesn’t tip off what you’re looking to purchase and how much you are willing to spend.
Hopefully these auction tips will help make your auction experience a good one.
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Did you know our company has over 100 years of auction industry experience? We help both buyers and sellers with both live and online auctions. Notably, we assist with industrial auctions, commercial auctions, property auctions, manufacturing auctions and agricultural auctions. In addition, we assist with bankruptcy auctions, estate sales, heavy equipment auctions and intellectual property auctions.
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