Good Gamesmanship @ the Auction
* Map & directions
* Folding chairs, box cutters & a flashlight
* Water & a snack for energy
* Thin binder with lined notepad paper, extra pens, highlighter pen & calculator
* Wear comfortable shoes and clothes that can get dirty.
* Bring floor plan & a list of materials needed for your project. Be sure to include dimensions and brief item descriptions. For Example: can light size needed and w or w/o insulation
* Bring a smart shopper with you, someone who'ÃÂs advice you trust
* Bring a friend and go in on lots together or form a co-op and buy as a group
* Leave your purse in the car if you can.
* Read the auction rules carefully before you sign a waiver.
* Remember the auction company usually get 10% premium in addition to your winning bid price.
* Pre-evaluate auction items & retail costs online
* Come early to plan your attack strategy, highlight the auctions you wish to bid on
* Write your maximum bid beside the lots you are interested in & the price they eventually sold for, keep these for future auctions
* Always consider the actual retail price of an item. Bidders get carried away and bid more than retail.
* Remember to include the auctioneers 10% when considering maximum bids
* Research materials on your project list and include good, better, best quality minimum standards as a handy reference. This will help you evaluate the quality of the items up for auction, such as window U-values, tankless water heater gpm flow rates, bath fan acceptable sones/noise limit or insulation minimum R-values needed. For example: a window with low R-values may not be such a good deal in the long run.
* Go in on a lot with someone at the auction
* Pay particular attention to color, style and finish information on closed boxes. For example: lots of light fixtures and door handles often contain the same style fixture/hardware, but in several different finishes.
* Don'ÃÂt be afraid to dig around in auction lots and open boxes to see the items up for sale.
* Be aware of missing parts or missing accessories. They may be impossible to get replacement parts after the auction.
* If the auction is selling larger lots than you need, see if you can make a deal for what you need from the winning bidder, exchange money in the parking lot after the auction company has been paid
* Speak up and make eye contact with the auctioneer & their spotters
* Pay attention to the deals other bidders are getting
* Sometime bidders get carried away and bid too much
* Lots should be clearly marked
* Listen carefully to the auctioneer to see how each lot is to be sold
* Items at auction can be sold in several ways; entire displays, large lots of similar color and style, sell one item with winner bidder getting 1st choice and as many items in the lot as they want
* Watch out for duplicate paddle numbers as you bid.
* Bring a truck, dolly and moving blankets
* Find out how long you have to remove your winning items, most auctions require you to remove your items the same day, some may give you up to 48 hours.
* Don'ÃÂt get lots more than you need or can easily get rid of
* Make a deal at the auction and make arrangements to buy it from the winning bidder after the auction. For example: a dealer purchased a slab of granite that you like. You can negotiate the granite price at the auction, then have the dealer cut it and deliver it to the site later.
* If you do plan to buy more than you need, know how you will sell it and how much effort it will require before you bid
* Consider storage and storage costs
|Page title||Most recent update||Last edited by|
|Good Gamesmanship @ the Auction||January 14, 2013 10:45 PM||Catherine G|
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