A Night at the Auction

Well the past couple of nights we've covered generally how a live auction works, now let's take a look at the actual bidding. The auctioneer will usually start with the auction gallery rules, and cover the buyer premium, and sometimes he (or she) will cover changes in the auction line up; such as items pulled, or last minute items added that are not in the cataloque. Then the real fun starts, as the first item comes up the auctioneer will give a brief description of the item and will start by asking for an opening bid of a specific amount. It generally goes like this:
Auctioneer: We'll open the bidding at $200. Do I hear $200?
(silent pause)
Auctioneer: How about $100? Do I hear $100?
(silent pause)
Auctioneer: No one wants this item at $100, how about $50, do I hear $50?
Bidder 1: $50

Many auctioneers will keep going down until someone opens the bidding, if no one opens the bidding, the auctioneer will "pass" the item and move to the next item on the list. So most people wait to till the item is low enough, but not so low that the auctioneer passes the item. You can, of course, raise your paddle (or card with your bidder number) and clearly state your opening bid amount if you are concerned that the item will be passed, but you must do this before the auctioneer passes the item.
In the example above the bidder didn't actually say $50, he or she raised their paddle (or card with bidder number) up so the auctioneer could see it and recognize the bid. Sometimes more than one person raises their paddles at the same time for the same amount, at that point the auctioneer will select the bidder he noticed first. Once an opening bid is established, bidding continues like this:

Auctioneer: I have $50, do I hear $60?
Bidder 2: $60
Auctioneer: I have $60, do I hear $70?
Bidder 1: $70

The bidding continues until some one is victorious. Now there are a couple of strategies I've seen used to be more successful in winning an item. One is to wait until the bidding slows, and the auctioneer is about to sell the item and then bidding the next increment. Most auctioneers will warn the floor when an item is going to sell (although you can usually tell), by saying:  "Going once, Going twice, sold" or "Fair Warning, sold", the trick is to bid on the second "Going", sometimes this works and you get the item, sometimes it starts the bidding war anew. Of course this is only good if the item is still in the range you'd spend for the item, otherwise you've just overspent. Another tactic I've seen, and it surprised me the first time I saw it happen, was someone was tired of the $25 increments the auctioneer was using (the item was at $3500, it was getting boring), so they raised their paddle and shouted $5000. That got everyones attention and the person won the item. I think because everyone was too surprised to continue! I think the best strategy is to get in on the bidding early for the items you're interested in, it definitely makes the evening go alot faster and more alot more enjoyable, even if you don't get everything you came and stayed for.

What ever you do, get out there and start a collection, go to shops, and flea markets, and don't pass up the auctions just because you've never been before, it's fun and easy to get the hang of them. Happy Hunting!