How To Prepare For Your First Auction

We’ve all seen movies and television shows displaying the fast-talking auctioneer, electric atmosphere, and captivated audience during an auction. It’s a thrilling experience, but there’s nothing more daunting than rubbing shoulders with fellow buyers.

If you’ve found an upcoming auction that you want to check out, but you’re not sure how to prepare, here are a few tips to help you get auction ready: 

Browse auctions in your area

While online auctions help you find goods from anywhere across the country, nothing beats the atmosphere of attending an on-site, in-person auction. Thanks to the magic of the internet, it’s never been easier to find the right auction near you. Auction Calendar allows you to search upcoming auctions according to your location and desired category. If you’re on the hunt for a vehicle in Gauteng or farming equipment in the North West, rest assured that you can find it on our platform. We offer a range of auctions across all industries available across Southern Africa. 

Don’t throw your budget out the window

We understand that it’s all too easy to get caught up in the electric energy of your first auction, but an important rule when attending is to remember your budget. Research is vital when setting your budget and securing the items you want in a cost-effective way. This research should extend to finding previous auction prices for items you are interested in, as this will allow you to set a realistic price limit. Remember to consider the additional costs involved. This can be anything from delivery costs to insurance, keep this in mind when setting your budget. 

Do your research 

You should never skip this vital step when attending your first auction. Whether you’re searching for fine art pieces, an investment property, vehicles or furniture, it's always helpful to understand how much something is actually worth before attending an auction. While continuing to attend auctions will help build your knowledge around the value of items, it may help to research specific items online or attend online auctions in order to provide an indicator of what certain things may be worth. Additionally, familiarise yourself with the bidders pack and Terms & Conditions, as it will help you understand the auction you're attending.

Understand the terms and conditions 

As mentioned previously, every auction has terms and conditions which are made available prior to the auction taking place. This can include everything from what form of payment is accepted to whether the items are sold Voetstoots (as-is). A range of questions related to your chosen auction will be answered via the Auctioneer’s terms and conditions. If it's not available, it’s always a great idea to ask them. Most importantly, familiarise yourself with the auction rules before attending, especially the golden rule: no refunds once the bid has closed. Thankfully, Auction Calendar provides a direct line of contact with the auctioneer, which is convenient if you need to ask any pressing questions. 

One of the best tips? Bid with confidence! Keep these tips in your back pocket when enjoying the thrill of your first auction. Remember, if there’s an item you’d like to purchase, don’t be afraid to show your interest.