There is an important fact that I would like you to remember when it comes to buying at local auctions: You will learn THROUGH your WALLET!

I have been buying at auctions for many years and I have learned a lot. I would like to pass on some helpful information and important tips that will hopefully keep you from "learning through your wallet" and filling up your home with a bunch of stuff you can not sell.

1. Research so you don't overbid!
   One of the greatest dangers of any auction is overbidding. Depending on the kind of auction, this can be very easy to do. In silent and sealed auctions, it is very easy to overbid at times, because you have no idea what the other bidders are bidding. In a live auction, the intensity of the bidding itself can lead you to overbid. The easiest way to avoid overbidding is to do your research BEFORE the auction.

   Know about the items that you are bidding on. If you can, get a hold of the auction catalog beforehand and research the values of any of the items that you are interested in. Then, before the auction, inspect the goods and see if there are any additional factors, such as wear and tear, that you have to take in to account. Also take in to account the value appreciation that the goods you are bidding on may undergo in the coming years. Once you have set a comfortable price for yourself, make sure that you don't exceed it in your bidding. There are so many auctioneers that are putting the pictures and sell bill on their websites so you can easily do your research from the comfort of your home computer.

2. Show up early!
   This will give you time to take a good look at the items to see if there is any damaged pieces to avoid or hidden treasures that are often in the "box lots" where you sometimes get your most profitable items. Showing up early also allow you to talk to the staff (ringmen) to see if they saw any items that were unique and to discuss any questions you might have with the auctioneer.

3. Arm yourself with the right tools!
   With all the wonderful easy to use technology that is available today, you can arm yourself with a web enabled cell phone or wireless PCMCIA card for a laptop and do a lot of research while the auction is going on. The cost of the wireless service is well worth it when you figure you can easily save $50 or more at each auction if it saves you from buying stuff that you can't sell or only break even on. You are not in business to break even, you are in it to be PROFITABLE!

4. Learn the crowd!
   As an experienced auction buyer, I have learned through the years to "read people" and to take advantage of the excitement that the other bidders are feeling. Things happen fast at these auctions.  I have trained myself to change my bidding strategies and to really pay close attention to all the other bidders habits and to watch everyone's actions. You can learn a lot about people if you just set back and watch them. You will get to know the "commoners" habits and see if they are a "upfront buyer" that spends all they can afford or have room for in their vehicle "upfront" or are they more of the "behind the scenes" type that are picky and knowledgeable and have done their research. You need to know that special "buy price".
   Watch the competition..... they know.

Classified newspaper sections often list live local auctions and estate sales. Also  it's worth contacting your local government to see if any government auctions are going to be held soon in your area. I have listed all of the State, local and government auctions I could find so visit How to find local auctions in your area for items to sell on eBay.

Thanks,

Edward Alvey
www.thebidfloor.com