Get your feet wet! Hardly ever does someone attend an auction anticipating bidding, but chances are you will. Watch and listen to others and then when comfortable, jump in. You may ask yourself if you're getting the best deal. Buyers usually get what they want, at the cost of only one bid higher than their competion.
A good auctioneer will spend time addressing commonly asked questions. If this is your first auction, find the auctioneer and obtain those answers to your questions, so that you may bid with knowledge. Auctioneers and their staff want to have repeat auction customers, so they will do what is needed to ensure you are comfortable in your environment. Never feel that your question is not reasonable.
When you first arrive at an auction, read the rules printed or displayed on posters, borchures or handouts. Many times your questions will be answered. If you don't understand a policy -- ASK. Inspect the item(s) you're interested in. Most auctions are conducted "as is", "where is" basis. Which means it is not guaranteed. If you have decided that you will bid on item(s), it is necessary to obtain a bid card from the auction staff. This bid card will be used during the bidding process. Once you buy the item, it becomes your responsibility and keep in mind that you will pay for it before you leave the auction, even if you will be returning to pick up your merchandise.
The auctioneer will stand where the bidders can see him and will generally use a public address sytem. If you can't hear, get closer or express your concern to a staff member so that the address sytem can be modified. As items are selected, the auctioneer will describe it and then bidding is opened.
In order to bid, you will need to obtain the attention of the auctioneer or the "ring person." The "ring person" assist that auctioneer in hearing & acknowledging all bids and assures the bids are accurate. To bid, hold up your bid card or shout "yes." Eye contact will be made between you and the auctioneer and the auctioneer will immediately turn & seek another bid. If you want to remove yourself from the bid process simply say "no" or shake your head "no." As increasing bids are received, the auctioneer's "chant" becomes a series of prices, with filler words to make the chant rhythmic.
When the auctioneer says "sold", the bid becomes final and the bidder will identify themself using the bid card & the clerk will record the bid. The the buyer is ready to leave, the cashier will receive paymen t& release the merchandise. Most modern auctioneers will tape record the netire auction to benefit both the buyer & seller.
Our goal is your goal: "turning real estate into money". Contact Jay Heavener Realtors & Auctioneers to schedule a confidential interview to discuss your needs.
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