Featured Best Practices For Bidding At On-Site Auction?

Hello Folks! Would like to get your thoughts on this topic. On site auction, not online bidding.

1. Do you try to bid discretely so not to draw attention to yourself? I notice that a lot of the professionals like to stay out of sight of their competition or they bid very discretely with a small nod or flick of the hand that is easy to miss.

2. Where do you sit/stand in the crowd? Up front to get a good view of the goods offered or in back to be discreet.

3. Bidding strategy: Do you prefer to enter the bidding in the end, beginning or middle? Do you ever jump the bid to play with the other bidder's psychology?

Thanks,
Joe

 

I'm no auction expert and would like to know the answer to these questions myself but in my opinion about the question of whether to bid discreetly and were to sit/stand I belive it depends upon the people and how they think. If you can get to know the people you can decide what to do, for instance people who turn it into something personal when they get into a bidding war (or they may already have something against you) will be more likely to keep bidding if they can see you. In other cases they might stop bidding if they can see you if it is clear that you are not going to stop till you get it (this would most likely be indicated by very obviously holding your hand up to bid and not letting it down between bids). I hope some of this was helpful and hopefully we will have someone with more experience come in to anwser!

 

1. "Professionals" can bid discretely; the auctioneer knows who they are, and will recognize the signals. Should Joe Smith try the same tricks he will likely be handed a tissue, or a cough drop, by a sympathetic neighbor.

2. Sit where you can SEE. Since you have (YOU HAVE, HAVEN'T YOU?!) previewed all the goods offered, and decided which treasure has piqued your interest, you want to be sure you don't bid on a chrome pitcher that is the exact double of the solid silver one you wanted. The auctioneer will TELL you that (usually), but in the excitement of the moment, I have known people to bid on what they thought was a painting of sheep -- only to discover that they now own a herd of Guernseys.

3. IF the opening bid is only a pittance, AND the audience seems sluggish, AND if the item is something fairly reasonable (to the point wherein one may find oneself carrying home a $2.00 yellow teapot), then indeed, start the bidding.

Otherwise, do as you do on eBay; jump in at the bitter end! Of course, you may find that the bidding is thereby renewed with great fervor, and that solid silver pitcher is suddenly going to some guy whose wiggly eyebrows you never noticed -- and for $200 over your limit.

As to the last part of #3, MY answer is Never in a Million!! I have my own psychology to keep in order! Were I a "professional," and totally uninterested in the object in question, and if I had a Really good reason (starving widow, saving the Holy Grail), I might try. However, I know full well that my efforts might result in my becoming the proud owner of a cardboard box full of plastic picnic ware. Or...do they still have Debtor's Prison?

Others here will know more. (Where is the Auction lady?)

 

I write down my maximum bid in my catalogue before the item comes up and rarely get sucked in to bid more. Beyond that I don't think it matters where I sit as long as the auctioneer can see me. But if it is a large room with plenty of chairs I may set up behind or to the side of the crowd, with an extra chair reversed in front of me for a work desk, lunch tray, etc. These days all but the smallest houses have as many phone bidders as floor bidders, if not more, so where you sit and when you jump in really doesn't matter, and the most desirable lots very often sell to the phones.

 

Up front where I can see but not usually smack dab in front where everyone can see me. Try to blend in to the crowd. I don't bid surreptitiously but also don't usually bid until the initial flurry of bids has died down. I am decisive in my bids. No hesitation. No pondering or delay. I decide what I will pay beforehand and don't go more than one bid beyond if the increments should fall off my target price.

I try to keep emotion out of it. Spirited bidding for an item you really want can be an adrenaline rush when you win. I have seen far too many people pay way too much for something when caught up in auction fever. I am never that guy. There is always another widget around the corner.

 

One of these days, I am going to track down Brad's whereabouts and follow him around for a few week.

For future reference, dear readers, in my posts, WBS means What Brad Said.

 

Funny.... I was going to say what Silverthwaite said. I thought your answer thoughtful, well written, and entertaining.

 

When I first went to auctions I'd sit somewhere unobtrusive. After a whie I'd sit in the front row because I was not really bothered who was bidding. I'd have maybe 50 items priced in my catalogue and stick to the maximum I had written almost always. Sometimes I'd run with a speculative lot just for the hell of it.

If the bidding was far below what I considered the item was worth I'd occasionaly jump the bidding a few hundred to speed things along and possibly intimidate other bidders.
I have never used any secret bidding signals, just waved or wiggled my bid number or catalog.
If the bidding was too fast and the auctioneer had me down for a bid when I'd stopped at a lower value I made a point of saying so (politely but clearly).
Sometimes I'd bid half the increment the auctioneer was looking for if the increment was in my opinion too large for the modest vaue of the item, going from 20 to 30 for example. This is usually done with a 'half' hand signal or the voice.

 

The half hand signal is a good one to know. Over here, it is usually done by swiping your hand across your neck as if you were cutting off your own head.

 

I bend my fingers at right angles to the palm (think naked sock puppet) and twist the forearm so the fingers make a slicing motion.

 

This is so interesting.
My boss is talking about taking me to some auctions, and maybe teaching me how to do stuff.
Now I really have a huge head start.
Thanks, everybody!

 

Yipe! Gila - be careful. That hand signal has another meaning! (One which Brad would never use.)

And Brad, thank you for your compliment, which from you is especially appreciated. Since I do not have a "like" button, I just have to hope that people I talk to, keep reading.

 

D'oh!

 

I too sit or stand at the back....I like to watch the crowd when i'm not bidding....when i am , i stand and make eye contact with the auctioneer so he knows to keep an eye in my direction.

 

When the bidding seems to be reaching a climax and others in my vicinity are bidding along with me, I am never shy about punctuating my hand signal with a loud YES to attract the auctioneers attention. There is nothing worse than thinking you won the item, only to discover it went to the bidder behind or beside you because in the heat of the moment, the auctioneer missed your bid.

 

I like the middle for observing the proceedings, and with a good view of the phones, just because I'm curious to know if there are multiple phone bidders or just a few. I'll stay there to bid my maximum on things I don't much care whether I win; but if it is something I am desperately wanting, I'll move to the back, with a clear view of the auctioneer.
I'll note that in my experience, most of the professional dealers sit as far back as possible.
I usually wait to begin bidding until things are well underway, but not so late that I risk losing; in part because the auctioneer will often reduce the opening bid until people jump in. And because if there are multiple bidders, I'd like to wait until some of them have dropped out.

 

Have not gone in a long time...but when I did...sat near middle..but on end..(like to get up a stretch once in awhile!)....I always went to previews...marked up the catalog with notes and my bids ...but sometimes went over my set limits .
Maybe that is why I stopped going to auctions.....still living with some of those mistakes !!!!

 

I work at an auction company that has 2 auctions a week.

#1 doesnt really matter unless you have people who hold some grudge against you and just "cant let you have it".
If that is the case its better to leave a left bid with the auctioneer so they will never see you bidding on it.
Only do this with a trusted auctioneer. My boss only starts the bidding at half of what the max left bid is, some places will start at your max left bid.

Otherwise I havent noticed a difference in whether you give a big wave of your hand, give a slight nod, flick your card etc
If someone wants an item there is no intimidating them.
Theres some people if they start bidding I give up because they will pay over retail because they can afford it. Im cheap like that though.

How people bid seems to come with different personalities.
Ive worked there for 2 years and I just flick my hand if I want to bid. If Ive got his attention Ill just nod my head yes.

Youll make more friends that will be more willing to let an item go to you if you dont come off as sneaky, I do know that. People can be very distrusting in this business.
Always be kind and always make friends. Im not saying to trust everyone, but get to know your fellow auction goers with a friendly approach.

#2 Before I started working Id always sit about 3 rows back in the isle seat where they are walking the items.
Yes, it limits your view behind you, but I dont really see an advantage or disadvantage if youve given yourself a max limit on an item.

#3 Ive seen entering the bidding at the end send it higher than it needs to go more times than not. Usually its someone that started in the middle and isnt ready to give up on it yet, then someone jumps in at the end and they will both run it

Ill start at the beginning, but Ive noticed starting it in the middle gives you a good chance at getting it.
Just make sure the auctioneer sees you if you start bidding in the middle or end. Things can get a little focused if its between only a couple to few people.
...which is another reason I dont like sitting off to the side or towards the back.

 

I don't even go to the live ones; the things I want tend to go for silly money. Over retail in some cases. Forget that mess.