I’m going to give you five strategies to implement on auction day. So the first strategy is to employ a professional to bid for you at auction. As an auction, we find it challenging to convince a professional buyer to bid in the increments that we’d like them to bid in. They also remove the emotion that you may otherwise show the auctioneer on auction day.
The second strategy is you can determine the increments that you bid in. The auctioneer will try and convince you to bid in a $10,000 increment 25 or $50,000 increment. The auctioneer will also try and challenge you to raise that increment over the course of the auction, but you’re in control of your bids. Now it’s up to the auctioneer, whether they accept your bid or not, but make sure you put your best foot forward. Continue reading