Tuesday, September 15, 2009

Save $$ - avoid a bidding war

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All it takes is two determined potential buyers and you have a bidding war – which translates into an inflated price for the item. Avoid getting into a bidding war where you’ll probably start offering dollar amounts way beyond your original limit.

* Don’t express blatant enthusiasm over any item during the auction preview that could alert others to your find and increase the competition.

* Try to bid calmly and thoughtfully. Shouting, arm waving, or constantly holding your paddle in the air is not necessary – or wise.

* Neither is letting on that you want an item, no matter what. Bidding early and ferociously just makes others believe the item is worth bidding on.

* And offering your maximum amount early on means the price can only get higher as others join the bidding, leaving you out of the running.

Most professional auctioneers move an average of one item every minute. That’s not a lot of time to dither, but plenty of time to join the fray without calling attention to your intentions.



All the best,



Timben

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