15 Insider Tips To Save Big at Auctions – Money Saving Tips

Auctions can be thrilling—part treasure hunt, part competition—but they can also be overwhelming if you don’t have a game plan. Over my years of buying vintage for my Etsy shop, I’ve learned some valuable tricks for getting the best deals, whether at live auctions or online.

If you’re ready to score big without overspending, here are 15 insider tips to make the most of your auction experience!

1. Know the Schedule of Local Auction Houses

Many auction houses hold sales on a regular schedule, like every week or month. For example, Granny’s Auction always runs on the first Saturday of the month. Find your local favorites and mark their schedules on your calendar so you never miss a chance to bid.

2. Attend Preview Days

If the auction offers a preview day, make time to attend. This gives you the chance to inspect items closely, check for damage, and decide how much you’re willing to bid. Photos in a catalog don’t always tell the whole story, so seeing items in person can save you from surprises.

3. Dress for the Occasion

Live auctions can sometimes involve rummaging through box lots or navigating less-than-clean venues. Wear closed-toed shoes and “play clothes” you don’t mind getting dusty. Being comfortable lets you focus on the auction instead of your wardrobe.

4. Set Your High Bid in Advance

Auctions are exciting, and it’s easy to get swept up in bidding wars. Before the auction starts, determine your maximum bid for each item you’re interested in. Stick to it, even if the competition heats up—it’ll save you from buyer’s remorse later.

5. Factor in Shipping for Online Auctions

Online auctions can be fantastic for finding deals, but if the auction is outside of driving distance, don’t forget to account for shipping costs. Sometimes shipping fees can outweigh the savings you’d get from a winning bid, so factor that into your budget.

6. Bring Packing Supplies

Whether you’re picking up items from a live auction or collecting winnings from an online sale, come prepared with packing supplies. Bubble wrap, boxes, and packing tape will help ensure your treasures make it home safely.

7. Build Relationships With Auctioneers

Local auctioneers can be invaluable allies. Let them know what you’re looking for, and they may tip you off when an item of interest comes in—or even sell it to you directly before it goes to auction.

8. Be Smart About Box Lots

Box lots can be a great way to get a lot of items for a low price, but beware of bidding on boxes filled with items you don’t want. Always inspect them during the preview and ensure there’s enough value in the lot to make it worth your bid.

9. Research the Market Value of Items

If you’re interested in specific items, take a few minutes to research their typical value before the auction. Knowing what something is worth will help you determine if you’re getting a deal or overpaying.

10. Start Small if You’re New

If you’re just getting into auctions, start with smaller, less expensive items to get a feel for how bidding works. Jumping straight into high-ticket items can be risky until you’re comfortable with the process.

11. Watch for Unsold Lots

Sometimes, items don’t meet their reserve price or fail to sell during the auction. Auctioneers may be willing to negotiate directly after the event, so don’t hesitate to ask about unsold lots that catch your eye.

12. Stay Until the End

The best deals often happen toward the end of the auction, when the crowd thins out and competition decreases. If you have the patience to stick around, you might score big on items that others overlooked.

13. Look for Multi-Item Deals

Auctions sometimes group similar items together, like sets of dishes or bundles of furniture. These multi-item lots can offer significant savings compared to buying each piece individually.

14. Bring Snacks and Stay Focused

Auction days can be long, especially for live events. Bring snacks and water to keep your energy up so you can stay sharp and focused throughout the bidding. A hangry bidder is an impulsive bidder!

15. Don’t Be Afraid to Walk Away

Not every auction will have what you’re looking for, and that’s okay. Resist the urge to bid just because you’re there. Sometimes, the best way to save is to walk away empty-handed and wait for the next opportunity.

Final Thoughts

Auctions are a fantastic way to find unique treasures and save money, but they require strategy and a little preparation. By following these tips, you can shop smarter, stay within budget, and come away with some amazing finds.

What’s the best thing you’ve ever scored at an auction? Share your story in the comments—I’d love to hear all about your auction adventures! Good luck and happy bidding!

Source: https://marketingartfully.com/15-insider-tips-to-save-big-at-auctions-money-saving-tips/