Live auctions are a great way to find original items for your home at very reasonable prices. Better yet the likelihood of you walking away with a mass manufactured product are minimal. Anyone who desires unique products will find that the benefit from attending furniture auctions in Arizona. Here are four essential tips to keep in mind.
By following these simple suggestions you will be more prepared for what to expect. You will also have an idea of what the event offers, if it has furniture you are looking for, and how much you are willing to spend on that item. This also helps you set a mental budget so that when the excitement of the auction begins you will not go over your limit.
Research the local auctions in your area. Once you have a list made, find out what each event offers. Some may focus on a Southwestern theme, while others can have a larger supply of Victorian era furniture. Not all auctions are the same. This way you will have a higher chance of finding what you are searching for.
This simple step is the one that is often the most overlooked. All it consists of is observing. Just spend some time watching the auction to get a feel for how things are done. This way you will be ready for your next live auction decreasing the odds of falling into the trap of buyers frenzy. All this leads to is you going home with an overpriced coffee table.
When researching events find out if they offer something called a preview. A preview gives you the opportunity to go to the auction house before the event to inspect the merchandise. This can happen a few days before an auction or a few hours before live bidding starts. It gives you the opportunity to make sure that the furniture you are interested in matches space dimensions, and your own personal taste.
To successfully participate in a live auction, try to learn the language. Understanding the vocabulary is essential to a well planned purchase. In a fast paced environment you need to be aware of what certain terms are in order to avoid blunders.
The main two terms you should become comfortable with hearing is reserve price and start price. The opening bid on an item is the starting price. This is minimum amount of money the piece can be sold for. The reserve price can make or break a bid. This is the minimum sum of money the seller will accept for an item. Before you start bidding on furniture that interests you, make sure to find out if there is a reserve price on it. The amount may be more than you are willing to spend.
Most important of all is to make sure you keep a level head. It is so easy to get excited and carried away at a live auction. While it is fun to lose yourself in the moment, that can hurt your pocketbook in the long run, and leave you with a sense of buyers remorse. So go in with a plan, have a budget and stick with it. Make sure to enjoy the experience, as there are few things more exhilarating than a live auction.
By following these simple suggestions you will be more prepared for what to expect. You will also have an idea of what the event offers, if it has furniture you are looking for, and how much you are willing to spend on that item. This also helps you set a mental budget so that when the excitement of the auction begins you will not go over your limit.
Research the local auctions in your area. Once you have a list made, find out what each event offers. Some may focus on a Southwestern theme, while others can have a larger supply of Victorian era furniture. Not all auctions are the same. This way you will have a higher chance of finding what you are searching for.
This simple step is the one that is often the most overlooked. All it consists of is observing. Just spend some time watching the auction to get a feel for how things are done. This way you will be ready for your next live auction decreasing the odds of falling into the trap of buyers frenzy. All this leads to is you going home with an overpriced coffee table.
When researching events find out if they offer something called a preview. A preview gives you the opportunity to go to the auction house before the event to inspect the merchandise. This can happen a few days before an auction or a few hours before live bidding starts. It gives you the opportunity to make sure that the furniture you are interested in matches space dimensions, and your own personal taste.
To successfully participate in a live auction, try to learn the language. Understanding the vocabulary is essential to a well planned purchase. In a fast paced environment you need to be aware of what certain terms are in order to avoid blunders.
The main two terms you should become comfortable with hearing is reserve price and start price. The opening bid on an item is the starting price. This is minimum amount of money the piece can be sold for. The reserve price can make or break a bid. This is the minimum sum of money the seller will accept for an item. Before you start bidding on furniture that interests you, make sure to find out if there is a reserve price on it. The amount may be more than you are willing to spend.
Most important of all is to make sure you keep a level head. It is so easy to get excited and carried away at a live auction. While it is fun to lose yourself in the moment, that can hurt your pocketbook in the long run, and leave you with a sense of buyers remorse. So go in with a plan, have a budget and stick with it. Make sure to enjoy the experience, as there are few things more exhilarating than a live auction.
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