The Worst Advice for Bidding at Auctions.

Auctioning tips

If you are interested in visiting an auction house for the purposes of bidding, then you may have already sought out advice from friends and neighbours, or even tried to take tips from TV auction or antiques shows. While these tips and tricks might work for others, or occasionally have worked out due to chance, for most bidders, the advice that is offered by friends, or by watching specialist shows, will be no competition for the expertise and knowledge of the auction houses themselves.

One extra bid might win the item

Many bidders are enticed into bidding an extra amount, even if you have gone to your limit, in the hopes of winning. The auction house advises that you should always set yourself a bid limit on any item, and stick to it no matter what. This will help you to stay in budget, and also means that you can walk away calmly from objects when you have reached your items.

Bid for cheap items even if you haven’t seen them

Viewers will often see antiques experts bidding on items that they haven’t seen, but which are priced surprisingly low. This might seem like a good idea, particularly when you are new at bidding, but you might be buying something which has a very low value due to damage, or it might not even be authentic. The auction house says: always check items out before placing a bid on them.

If no-one bids for an item, you can claim it later for less

Sometimes, it is possible to buy an item that has been withdrawn for a lower price than the opening bid amount. However, this is not always the case, and the auction house reminds bidders that it has the right to refuse to sell items outside of an auction.