Wednesday, April 25, 2012

Learn About Police Auctions

Once you have have found the items you want to bid on, you should have a few strategies that are constant throughout your auction experience. Here are a few:
1. Have a limit and stick to it. This strategy will help you get the best deal come auction day. If you do a substantial amount of research prior to the event, you will know you maximum dollar amount for each item. Checking value guides, other online auctions, and trade publications will give you a figure for the amount you are willing to spend. What you don't want to do is catch "auction fever." This is when you want an item, and don't give yourself any spending restrictions--in turn, drastically raising the bid amount on an item and causing you to handsomely overbid.
2. Try to bid on items towards the beginning and the end of an auction. Statistically, this is where you will find the most lucrative items for the cheapest price. The reasoning behind is this that most people either come to auctions late or leave early because they have exhausted all their finances on the items they already won. Don't let this strategy scare you off from bidding on items in the middle of the auction. Use your own judgment.
3. Don't let the auctioneer do the bidding for you. When you are at a live auction, the auctioneer will generally throw out phrases like "do I hear $1000?" or "can I have $550?" These are merely stated to send out an opening bid that is higher then normal. If you don't think this is an appropriate amount for that item, you should shout out an amount that you feel is suitable. By using those phrases, the auctioneer is trying to control the flow of the auction. Don't let this happen.

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