Everything You Could Ever Need to Make a Killing at Auctions | Part 4

Original Article by GAUK Auctions

AUCTION PROCEDURES

Auctions are generally fast and furious places where there is little time to examine the goods fully, items may be difficult to get at and see and others may not even be on view at all. Similarly, auctions are full of traders, many of whom are very experienced in the business of assessing the quality of goods quickly and accurately. With practice you should be able to do this in a very short time and after a few visits to auctions you will pick up what is happening very quickly. However, there are a few basics which you should learn at the outset.

Auctions can be full of junk! There are always truly ‘duff’ lots and it is important not to get tempted by a so called ‘bargain’ that is of no use to you or of no resale value just because it was ridiculously cheap.

For every 100 items offered for sale at an auction there may be only a handful that are worth your while thinking about buying. Your goal must be to become so knowledgeable about the pros and cons of second-hand goods that you are able to judge which are worth closer inspection, and worth bidding for and which must be totally ignored and not worth wasting any further time over. Sometimes there may not be much to choose from. At such…