To be successful you must do your homework, or else the competition can distract you from your main goal or limit you have set. That’s why Backes Auctioneers has put together a list of questions you should ask yourself before attending a commercial auction in order to make sure you are prepared.
Will I be able to stay focused if I have a lot of money on the line?
Declaring how much money you have in public can be a strange feeling. When you continue to bid higher and higher, stress begins to build. It’s an exciting feeling to win what you were bidding on, but it’s not the best feeling when you realize you climbed too high and spent more than you wanted. That’s why it’s important to stay focused and not get carried away because of competition.
Can I stick to a limit I set for myself?
Sticking to a limit may be the hardest thing to do at an auction. The emotion and intensity that get built up make you want to continue to your final goal, but it’s important to prepare yourself for the feelings that will arise. If you can set a limit beforehand and stick to it, you will come out happy, even if you didn’t buy one of the items you wanted.
Will other bidders be able to intimidate me?
Bidding can become passionate and other participants will start to poke at you in order to see how high you will go. Be sure to prepare yourself for how other bidders will behave and know how to respond without showing too much emotion when placing your bid.
Will I be able to read other people in order to tell if I will get a good bargain?
Some people will show surprise when they see an item start at such a low price. If you see that, then you have a good starting point. When you are bidding, know that others will want that item also. Try to read their body language to see how interested they really are about what they’re bidding on.
What equipment do I actually need?
Before and during an auction, it’s important to know what you came there for. Be sure not to get caught up in a deal, and ask yourself if you really need that piece of equipment. If you went in knowing you didn’t need a certain item, then don’t go after it just because it’s a good deal.
We hope that by asking yourself these questions, you will be able to prepare yourself for what’s to come during an auction. Contact us today to see what auctions we have coming up and the services we can offer you!