Live Auctions
Posted by Lorna | E-Mail The Author
OK so most of us are hooked on eBay’s online auctions. I’ve got a store on eBay. Here, check it out. Lorna’s Re-Use It Decor But attending live auctions can be just as much fun.
My first experience with live auctions was about 4 years ago. I’m embarrassed to say that until then I hadn’t known that such an animal existed.
The auction house that I visited was not far from my home. It was what we New Yorkers would call a “little hole in the wall” but as many people as could fit in attended regularly. As a matter of fact for many that was their weekly Friday night entertainment complete with complimentary sandwiches and coffee with soft drinks, water and chips for a dollar a pop.
There are some things though that you should know about live auctions. Listen VERY CAREFULLY to the auctioneer! Listen out for phrases like “times the money” and “five or ten or etc. times the money” or hold bid, because you can get stuck spending more than you’d planned, for things that you have no desire for owning.
A couple of definitions
“Times the money” – each item will sell for the winning bid. For example, if there are lets say 100 widgets left that the auctioneer does not want to go through and sell individually he may choose to sell them "times the money." So if the winning bid is say $5.00 it means that you’ll be takiing home those 100 widgets for $5.00 a piece! So watch out!
Hold bid – the winning bid of each item in a set would be "sold" then held. When each piece was “sold” they were put back together by adding each winning bid plus a percent usually 10 percent. That would be the starting bid for the complete set. If there were no bids at the combined amount the pieces would go to each individual bid winner.
But, if you are not able to get to a live auction, or there’s not one near you, or the idea of mistakenly biding on 100 what-ya-ma-call-its, then there’s always eBay. The auction action here is much slower which gives you time to change your mind…that is if you must. Check out my eBay store at: Lorna’s Re-Use It Decor. I have many items that are Buy It Now. No waiting. No pressure.
Happy Auctioning.
Until next time
Lorna/
Lorna’s Re-Use It Decor
My first experience with live auctions was about 4 years ago. I’m embarrassed to say that until then I hadn’t known that such an animal existed.
The auction house that I visited was not far from my home. It was what we New Yorkers would call a “little hole in the wall” but as many people as could fit in attended regularly. As a matter of fact for many that was their weekly Friday night entertainment complete with complimentary sandwiches and coffee with soft drinks, water and chips for a dollar a pop.
There are some things though that you should know about live auctions. Listen VERY CAREFULLY to the auctioneer! Listen out for phrases like “times the money” and “five or ten or etc. times the money” or hold bid, because you can get stuck spending more than you’d planned, for things that you have no desire for owning.
A couple of definitions
“Times the money” – each item will sell for the winning bid. For example, if there are lets say 100 widgets left that the auctioneer does not want to go through and sell individually he may choose to sell them "times the money." So if the winning bid is say $5.00 it means that you’ll be takiing home those 100 widgets for $5.00 a piece! So watch out!
Hold bid – the winning bid of each item in a set would be "sold" then held. When each piece was “sold” they were put back together by adding each winning bid plus a percent usually 10 percent. That would be the starting bid for the complete set. If there were no bids at the combined amount the pieces would go to each individual bid winner.
But, if you are not able to get to a live auction, or there’s not one near you, or the idea of mistakenly biding on 100 what-ya-ma-call-its, then there’s always eBay. The auction action here is much slower which gives you time to change your mind…that is if you must. Check out my eBay store at: Lorna’s Re-Use It Decor. I have many items that are Buy It Now. No waiting. No pressure.
Happy Auctioning.
Until next time
Lorna/
Lorna’s Re-Use It Decor
posted by Lorna | E-Mail The Author | 1:43 PM
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