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It can be easy to feel intimidated when buying at an auction, especially if it is your first time attending one. Auctions can bring lots of emotions and excitement while also making some feel nervous. Feeling confident is the best way to get the most out of the auctions that you attend and will help make the experience more enjoyable. Continue reading to find out a few helpful tips to increase your confidence as a buyer at the next auction you attend!  

Attend More Auctions  

One of the best ways to get a better understanding of how auctions work and what the environment is like is to attend auctions to get firsthand experience! If there is an auction that you are wanting to attend and are nervous about, maybe attend a few others beforehand as “practice” to help you familiarize yourself with the terminology and to better understand how auctions operate.  

Research and Prepare  

Before attending any auction, you should always do research prior to the auction to ensure that you are fully prepared. You can research more information about the specific items at the auction along with knowing the local market to help make sure that you don’t overbid and help you feel more confident when bidding.  

Arrive Early  

Arriving early will help you feel prepared for the auction and will allow for a less stressful experience. When you arrive early you will have time to familiarize yourself with the location and layout of the items that are being auctioned. You will also have more time to get a better seat! Arriving early will help decrease levels of stress related to the auction and will allow you to feel more comfortable and confident.  

Set Spending Limits  

Overspending at auctions is a common concern especially if it is your first time buying at an auction. After you have researched the items that you are wanting to buy, you can set a price limit for yourself to help prevent overspending. Setting a price limit and sticking to it will be very beneficial and will make your auction experience easier and stress-free free! 

Don’t Let Others Intimidate You 

Sometimes at auctions people will try to intimidate other bidders by using scare tactics. It is important to ignore this and focus on yourself and your goals for the auction.  

At Backes Commercial Auctioneers, we work to provide everyone with a great and memorable auction experience. We have over 40 years of experience and have certifications in Auction Marketing Management (AMM) and with the Certified Auctioneers Institute. With our certifications, experience, and expertise, you can feel confident knowing that you will have a great and stress-free experience at our auctions! If you have any questions about buying at our auctions, reach out to our team!