These guidelines are based on the opinions and experiences of Stephanie Green. auctioneer, TXL 15246 and are not to be taken as legal or accounting advice.
1. Preview whenever possible, especially on big ticket items. Most auctions will have a preview day or a few hours on auction day to preview the items in person.
2. Bring a clipboard, pen, flashlight, magnifying glass & tape measure.
3. Print the catalog or get a copy of the catalog when previewing. Make notes on the Condition of items, Make, Model, Manufacture Date and any other pertinent information.
4. For large items that will need to be disassembled for transport, make a list of the tools you will need to bring.
5. Make note if you will need blankets, bags or boxes to help load and transport items.
6. Research current prices for lots using new online sellers and online auction databases when possible and come up with a price range for each item. This amount will vary based on whether the item is being purchased for resale, for personal use or to utilize in your business, possibly bringing income. Try to come up with a maximum number or price range that you will bid for each lot. Sometimes you can get caught up in the excitement at the auction event, so use your number as a guideline when bidding.