Ditto, I’ve found some great buys at auctions. The key is to be informed before you go to the auction. 1) Know what they are going to be selling, look at the auction list, and check it out BEFORE the auction starts so you have an idea of the condition. Also, know the real value of what you are bidding on. Case in point, a friend of mine recently went to an auction where they had a BRAND NEW Thunderbird, 80-quart mixer. There was little interest in it due to the fact that it wasn’t a Hobart. My friend bought it for $2,000.00 What a fantastic deal! She knew what she was looking at, the others didn’t. I’ve also seen the other extreme, where the bidding went higher than the item was worth. A smart bidder knows when to drop out.
And yes, auctions are fun. One other thing, we are beginning to see some auctions around here (Purple Wave Auctions) where the buyer pays the commission on the purchased price. What this means is that you will be charged an additional 105 or more in adition to your bid price for the iten when you pay for it. At other auctions the commission comes out of the proceeds of the auction, so what you bid an item for is what you pay for it. Make sure you understand the rules before youbegin bidding as it may affect the amount you want to bid.
Tom Lehmann/The Dough Doctor