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Tempe Auction

What to Know about the Process


Tempe Auction •Local Tempe auctions enlist services of professional auction houses •Third party auction houses describe process in great detail and provide specific descriptions of every item and give schedule of inspection periods •Auctions are advertised in advanced •Best way to find local auction is online


Tempe Auction •Visit websites of major auction services for information and schedules of upcoming events •Website indicates how auction will be conducted. It indicates whether it is live, online-only or combination of both


Tempe Auction How the Auction Process Works •You don’t have to bid the first time, you can attend an auction to learn and get your feet wet •An auction house website will contain lots of educational information •It’s not unrealistic to get discounts of 90% off the market value


Tempe Auction How the Auction Process Works •Make sure to do some due diligence on particular items you want •First order of business is to know market value of item. Knowing market value won’t risk you over paying •Do not get emotional about winning a bid. Be willing to walk away from an item if price goes beyond market value


Tempe Auction How the Auction Process Works •Some other tips when attending a Tempe Auction: –Have firm commitment as to the top dollar you are willing to pay for. Purchase items are non-refundable –You get no warranties or guarantees with winning bid


Tempe Auction How the Auction Process Works •Some other tips when attending a Tempe Auction: –Auction procedure starts with a “ringman” calling out the item number, then the auctioneer begins selling the item. The item cost will increase incrementally until no more bids are heard and the highest bidder wins. The auctioneer will say “sold” and will state the highest bid number and final selling price. The clerk records your winning bid, the item number and your buyer number


Tempe Auction How the Auction Process Works •Some other tips when attending a Tempe Auction: –Auctioneers will not wait for slow bidders –If a bid card is provided, be certain to hold card high when bidding. Also make your voice be heard. Shy bidders seldom win bids. Once item is sold, the bidding is over and the item is gone


Tempe Auction About the Author Deb Weidenhamer is President of Auctions Systems Auctioneers & Appraisers, Inc., based in Phoenix, Arizona. They specialize in auctions and professional appraisals. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Tempe Auctions.


Tempe Auction: What to Know about the Process