Seized Assets Auctioneers on Tips for Live Auctions

(Newswire.net — April 18, 2018) Westlake Village, CA — For hundreds of years, auctions have attracted bargain hunters in search of deals. Live auctions can be extremely exciting, presenting an opportunity to purchase collectibles or luxury items at a fraction of their retail prices. The experts at Seized Assets Auctioneers in California know that many first-timers to the auction scene have many questions before submitting their first bid. The company, based in Westlake Village, provides live online auctions and specializes in hard-to-find items like collectible jewelry and coins, artwork, and rare books. The company recently shared some tips for auction newcomers, helping them to break the ice and enter the world of exciting live auctions. “Finding the nerve to make your first bid is the key to success in live auctions,” says a company spokesperson. “Whether the auction is an estate sale, a police auction, or a business liquidation, the same basic rules apply.” To view the company’s upcoming and current live online auctions, visit http://bid.seizedassetsauctioneers.com/.

Before bidding on an item, it is critical that auction participants take advantage of any previews. These previews may be scheduled days before the auction itself, and provide participants with a chance to get an up-close and personal look at the items they may be interested in. It can be helpful to bring along a small flashlight, a notebook, a camera, and even a short extension cord if electronics will be bidded on. Inspect the item carefully, noting its features and any condition issues. If the item is electronic, plug it in and make sure everything works as it should. On the day of the auction, many auctioneers allow participants to take a quick look at the items up for bid; ensure that the condition remains as it was during the auction’s preview.

Now that the preview has been completed, smart auction participants know that research is critical in scoring a great deal. Look up values of the items one is interested in to determine high and low pricing as well as collectible value or potential costs for repair. The Internet is an invaluable tool for researching values and condition of auction items. As a part of the research, potential bidders should develop a price “ceiling” for each item; in other words, the highest price one is willing to pay for a given item. Be sure to include auction fees and transportation costs, especially if the goal is to resell the item at a later date.

It is crucial for auction participants to understand that once they make a bid on an item, they are bound to the deal. If an auction is won, bidders should have payment at the ready. It is a good idea to learn from the auctioneer in advance what payment types are accepted; many only accept cash at the end of the bidding process. “In addition to payment and having the funding ready to complete a sale, it is of the utmost importance to stick to one’s budget,” adds the expert at Seized Assets Auctioneers. “It is easy to get caught up in the excitement and to overbid on a desired item, which should be avoided wherever possible.” For more information on the company, its services, and its live online auctions, visit http://www.seizedassetsauctioneers.com/.