Are you thinking about attending a live auction? If you do you might be surprised to learn just how thrilling these events can be. Here’s why live auctions are so exciting for attendees.
The excitement at an auction begins as soon as the event starts. That’s because you know that the pieces up for auction cannot be purchased anywhere else. They will be exclusive, rare, valuable and incredibly sought after. Before the bidding begins, you will be told information about the piece all of which is intended to make you want the item even more.
Rapidly Changing Prices
Any process where things move rapidly is always going to be exciting and thrilling. In the case of a live bid, the fast-moving prices get the blood pumping. Indeed, prices at a live bid can change in seconds with the auctioneer blasting through the numbers at lightning speed. By the time you’ve raised your paddle someone else might have raised theirs with a higher price. This means you’ll need to climb higher to get a piece of art that you desperately want. It’s this determination that pushes the experience to more than just buying goods.
Yes, when you live bid, you will be competing and it’s a lot like a sporting event. There will be multiple people in the room fiercely competing for the same goal. They may have their eye on the exact product you want. When a particularly attractive piece is revealed the whole room gets tense. Fingers grip their panels ready to immediately start the race. It is very much like running against opponents and as the price rises more fall back until…
Just like a sporting event, part of the excitement is potentially reaching the ultimate goal and winning your prize. Again, this isn’t like a typical purchase. When you buy a product, you can simply walk into a store and pick it up. At an auction, you really do need to win it and fight with all your strength, which is one of the reasons why it’s so exciting. Once you win, you’ll be overcome with an immense surge of joy and exhilaration at emerging victorious.
This Is Backed by Science!
Finally, you might think that this is all just opinion, but it’s actually backed by science. One research study used a sample group of 100 people at a fake flower auction. The research showed rapidly changing prices, generated massive levels of excitement among the group. As well as this, the level of excitement actually determined where the closing price of the item was.
Researchers also found bidders were stimulated and would increase their excitement by bidding at the last moment for a particular item. So, while it might seem as though bidders who jump in at ‘going twice’ are considering whether or not to bid, it might actually be that they’re just seeking out an extended adrenaline rush. Indeed, the researchers concluded that bidding is not your typical shopping experience and provides a similar level of adrenaline to something like riding a rollercoaster or playing a video game.
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