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Buying At Auction: 6 Hints to Make You a Successful Bidder


Buying at auction, be it for stamps or coins, antiques or even cattle, can be one of the most exciting and profitable experiences possible. It can also be expensive and utterly frustrating. The best way to come out ahead is to learn the tricks of the trade early. Here are some suggestions that should help you get on the fast track to success.

(1) Do your research. Knowledge is your most important tool, even more important than money.

(2) Learn how to be inconspicuous.

(3) Beware of zombies, shills and lunatics. The best way to avoid them is

(4) Hire an agent.

(5) Be selective. Don't be afraid to spend the extra dollar when something especially rare or in exceptional condition comes your way. You may never get another chance.

To elaborate:

(1) Every experienced buyer knows how important knowledge is. Questions of authenticity, condition, and rarity are always the key considerations. If you are fortunate enough to have both knowledge and money, you have the world by the tail. But even if you have limited funds you can still do very well if you know something the rest of the potential buyers don't.

(2) Once you have spotted something you want to buy, fade into the woodwork as much as possible. The last thing you want to do is attract attention to yourself or the lot you are interested in. After you've been around long enough, your competition will find out who you are. Until then try to keep as low a profile as possible and guard your information. Use a code system to keep track of your limits. I'm constantly amazed at how careless some bidders are with their auction catalogs and what they write in them.

(3) Zombies, shills and lunatics are every auction bidder's nightmare. If a zombie knows who you are, he/she will follow your every move. Their motto is: if that person is willing to spend a hundred dollars for a lot, I sure can afford to spend a hundred and ten. Most people know what a shill is. It is someone working for the auction house or seller who artificially pushes up prices by bidding against you. In order for an item to get a good price, two or more bidders must be interested in it. Shills are especially skilled at figuring out how high you are willing to go. Lunatics are the ones who absolutely have to have a lot and will bid whatever it takes to win it. The best way to deal with these three worthies is to hire an agent to bid for you.

(4) Agents are professionals who have developed skills at bidding at auction. One famous New York stamp auction agent was so skilled at hiding his bids that only the auctioneer and a few other people ever knew how he did it. As strange as it may sound, paying an auction agent the extra 2-5% fee may save you many hundreds of dollars or more in the long run. The zombies, shills and lunatics won't know who is bidding against them.

(5) Finally, one of the most important skills of all is the ability to recognize when to open up the purse strings. Condition and rarity are the two most important determinants of price. The exceptional item is always worth an extra bid or two. One customer who was examining my stamps at a national stamp show remarked, "I've been looking for this one for more than 40 years and you have a very nice copy. But I never pay more than half catalog for anything." I wished him well. It was a scarce stamp and I expect he'll still be looking if he lives another 40 years.

To summarize: knowledge is the primary key to success at auction bidding. Secondly, develop your skills as a bidder and buyer. Then, learn to recognize the individuals you will have to deal with on the auction floor. Cross them up and use and agent. And finally, know when to pay a premium for the exceptional item.

Best of luck!

John Anderson has been bidding at auction for more than forty years and has purchased hundreds of stamps, antiques and collectibles that way. Now semi-retired from stamps he is a full-time writer. His first novel, The Cellini Masterpiece, was published under the pseudonym of Raymond John. He is now hard at work on his second, and an auction plays an important role in the plot. If you would like to contact John or read the first chapter of The Cellini Masterpiece, please log on at: http://www.cmasterpiece.com


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Fri. May / 29 / 2020

HiBid.com Offers One-Stop Portal For Boat & Yacht Auctions - Yahoo Finance
HiBid.com Offers One-Stop Portal For Boat & Yacht Auctions  Yahoo Finance

STORAGE AUCTIONS - Columbia Star
STORAGE AUCTIONS  Columbia Star

'Exceedingly rare' cognac from 1762 fetches $146,000 at auction - CNN International
'Exceedingly rare' cognac from 1762 fetches $146,000 at auction  CNN International

Earlywine Auctions offers first virtual estate auction for family - Kokomo Perspective
Earlywine Auctions offers first virtual estate auction for family  Kokomo Perspective

Sotheby’s to Bring $22 M. in Latin American Art to Marquee Auctions, With Work by Kahlo, Botero - ARTnews
Sotheby’s to Bring $22 M. in Latin American Art to Marquee Auctions, With Work by Kahlo, Botero  ARTnews

Auction Service Offers 90% Savings On Brand New Inventory - Yahoo Finance
Auction Service Offers 90% Savings On Brand New Inventory  Yahoo Finance

Online Auctions, Sidewalk Concerts and Virtual Tours - The Wall Street Journal
Online Auctions, Sidewalk Concerts and Virtual Tours  The Wall Street Journal

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WB Liquors Auctions Rare Pappy Van Winkle Bourbon to Benefit San Antonio and Bryan Food Banks  San Antonio Current

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Classic Car Auctions Upended by Coronavirus  The New York Times

Potter & Potter Auctions to Host Eclectible Collectible Auction in June - Fine Books & Collections Magazine
Potter & Potter Auctions to Host Eclectible Collectible Auction in June  Fine Books & Collections Magazine

Worldwide Auctions to Offer Trifecta of Stainless Steel Fords in Auburn - duPont REGISTRY DAILY
Worldwide Auctions to Offer Trifecta of Stainless Steel Fords in Auburn  duPont REGISTRY DAILY

Auto auctions take cautious, detailed approach to reopen in-person sales - Auto Remarketing
Auto auctions take cautious, detailed approach to reopen in-person sales  Auto Remarketing

Dalmac Energy hits the auction block - Modern Bulk Transporter
Dalmac Energy hits the auction block  Modern Bulk Transporter

Bluebill Auction Defies Market, Nabs Over $2 Million For Massive Oilfield Equipment Package Using AuctionTime & Pre-AuctionTime - Norfolk Daily News
Bluebill Auction Defies Market, Nabs Over $2 Million For Massive Oilfield Equipment Package Using AuctionTime & Pre-AuctionTime  Norfolk Daily News

Carefully Curated Long-Time Collection Coming to Hunt... - Sports Collectors Daily
Carefully Curated Long-Time Collection Coming to Hunt...  Sports Collectors Daily

Western Climate Initiative auction results show resilience of cap and trade and benefit of long-term climate investment strategy - Environmental Defense Fund
Western Climate Initiative auction results show resilience of cap and trade and benefit of long-term climate investment strategy  Environmental Defense Fund

Wind continues to dominate Italian renewable auctions - Argus Media
Wind continues to dominate Italian renewable auctions  Argus Media

Manheim's Physical Auto Auctions Could Go Away - Ward's Auto
Manheim's Physical Auto Auctions Could Go Away  Ward's Auto

Let the bidding begin! Check out this virtual auction - FOX21News.com
Let the bidding begin! Check out this virtual auction  FOX21News.com

BelOrta auctions first gooseberries - Fruitnet
BelOrta auctions first gooseberries  Fruitnet

1000 Pounds of Asparagus Sold at Produce Auction - 9 & 10 News - 9&10 News
1000 Pounds of Asparagus Sold at Produce Auction - 9 & 10 News  9&10 News

German auction house sells historic Medal of Honor despite US opposition - Military Times
German auction house sells historic Medal of Honor despite US opposition  Military Times

Jyske Realkredit's auctions for July 1st 2020 refinancing Copenhagen Stock Exchange:BRF85 10 - GlobeNewswire
Jyske Realkredit's auctions for July 1st 2020 refinancing Copenhagen Stock Exchange:BRF85 10  GlobeNewswire

US Medal of Honor sells for more than $15000 at German auction house - Stars and Stripes
US Medal of Honor sells for more than $15000 at German auction house  Stars and Stripes

Online auctions are up, up, UP - Desert Sun
Online auctions are up, up, UP  Desert Sun

Jamiroquai lead singer Jay Kay's first car fetches $20000 at auction - Motor Authority
Jamiroquai lead singer Jay Kay's first car fetches $20000 at auction  Motor Authority

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St. Lawrence Valley Produce Auction online data gives tips for wholesale selling for North Country farmers  North Country Now

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Auction industry readies for COVID-19 business closures  Marketplace

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Want to know the secrets of Miami chefs? Bid at this auction for a personal Zoom session  Miami Herald

28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction - Forbes
28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction  Forbes

Chico State puts centennial pipe organ on the auction block to find permanent home - KRCRTV.COM
Chico State puts centennial pipe organ on the auction block to find permanent home  KRCRTV.COM

‘Chair-Ity’ Auction Raises More Than $17,000 For Greater Pittsburgh Arts Council - CBS Pittsburgh
‘Chair-Ity’ Auction Raises More Than $17,000 For Greater Pittsburgh Arts Council  CBS Pittsburgh

Auction Houses Report Success in Online Shift - Barron's
Auction Houses Report Success in Online Shift  Barron's

RM Sotheby's Offers Marcel Petitjean's Stunning Car Collection for Auction - HYPEBEAST
RM Sotheby's Offers Marcel Petitjean's Stunning Car Collection for Auction  HYPEBEAST

Auction House Says $400,000 Worth of Wine Was 'Cooked' During Shipment - Food & Wine
Auction House Says $400,000 Worth of Wine Was 'Cooked' During Shipment  Food & Wine

Leake Auctions Cancels June Tulsa Auction - duPont REGISTRY DAILY
Leake Auctions Cancels June Tulsa Auction  duPont REGISTRY DAILY

Phil Lesh's Stage-Played Modulus Bass Up For Auction - jambands.com
Phil Lesh's Stage-Played Modulus Bass Up For Auction  jambands.com

The most expensive sneakers ever sold at auction - Business Insider - Business Insider
The most expensive sneakers ever sold at auction - Business Insider  Business Insider

Facebook fundraiser auctions for HALO explode with support - Medicine Hat News
Facebook fundraiser auctions for HALO explode with support  Medicine Hat News

Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record - Yahoo Sports
Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record  Yahoo Sports

Claret Jug replica from Greg Norman's 1986 Open win up for auction - USA TODAY
Claret Jug replica from Greg Norman's 1986 Open win up for auction  USA TODAY

Get Your Hands on a Rolex at Crown & Caliber’s Latest Charity Watch Auction - Robb Report
Get Your Hands on a Rolex at Crown & Caliber’s Latest Charity Watch Auction  Robb Report

Kraft auctions off Super Bowl ring for more than $1 million - NBCSports.com
Kraft auctions off Super Bowl ring for more than $1 million  NBCSports.com

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By & For Auction Provide COVID-19 Relief to Miami Artist  Miami New Times

Vintage Rupp Arena items on the auction block - WKYT
Vintage Rupp Arena items on the auction block  WKYT

Fair's Livestock Auction Tradition Going Virtual - Oakdale Leader
Fair's Livestock Auction Tradition Going Virtual  Oakdale Leader

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Forget the Auction? Rural Broadband Acceleration Act Calls for Early Release of RDOF Funds for Gigabit  Telecompetitor

62-acre former Citibank complex heads to auction - Baltimore Business Journal - Baltimore Business Journal
62-acre former Citibank complex heads to auction - Baltimore Business Journal  Baltimore Business Journal

Leake Auctions cancels its Tulsa collector car sale - The ClassicCars.com Journal
Leake Auctions cancels its Tulsa collector car sale  The ClassicCars.com Journal

Online Auction to Aid Comic-Book Shops Raises Over $430,000 - The New York Times
Online Auction to Aid Comic-Book Shops Raises Over $430,000  The New York Times

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Annual Spring Livestock auction raises more than $75,000 online to support student projects and education goals  KPRC Click2Houston

Insiders Share Some Watch Auction Secrets - The New York Times
Insiders Share Some Watch Auction Secrets  The New York Times

Auction sales volume continues to climb - Auto Remarketing
Auction sales volume continues to climb  Auto Remarketing

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Breakdown Of Key XFL Auction Dates, As XFL Looks For New Owners  XFL News Hub

America's big midband spectrum auction for 5G clears another obstacle - Light Reading
America's big midband spectrum auction for 5G clears another obstacle  Light Reading

White Pass Scholarship Auction Will Be Held Virtually; 46 Items and Experiences to Be Auctioned Off - Centralia Chronicle
White Pass Scholarship Auction Will Be Held Virtually; 46 Items and Experiences to Be Auctioned Off  Centralia Chronicle

Eriksen auctions off football lesson - Football Italia
Eriksen auctions off football lesson  Football Italia

4-H meat auction going online | News, Sports, Jobs - Evening Observer
4-H meat auction going online | News, Sports, Jobs  Evening Observer

Senator Calls on Pompeo to Save Soldier's Medal of Honor from Auction - Military.com
Senator Calls on Pompeo to Save Soldier's Medal of Honor from Auction  Military.com

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A fantasy golf auction? It’d have Jack’s putter, Tiger’s Scotty…and this epic club  Golf.com

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Trudy's Tex-Mex could be sold at auction, attorney says  KVUE.com

Steel Partners' Assets Go to Public Auction - Yahoo Finance
Steel Partners' Assets Go to Public Auction  Yahoo Finance

WB Liquors benefiting Texas food banks with special whiskey auction - KBTX
WB Liquors benefiting Texas food banks with special whiskey auction  KBTX

Carbon Market: Results of May 20th Auction held between Québec and California - Marketscreener.com
Carbon Market: Results of May 20th Auction held between Québec and California  Marketscreener.com

Small-denomination California gold coins headed for June auction - Coin World
Small-denomination California gold coins headed for June auction  Coin World

Colt 1911 pistol carried by Marine on Iwo Jima going up for auction - Military Times
Colt 1911 pistol carried by Marine on Iwo Jima going up for auction  Military Times

Vineland Produce Auction serving the industry since 1931 - TheProduceNews.com
Vineland Produce Auction serving the industry since 1931  TheProduceNews.com

Ann Tolson Silent Auction Resumes at NHAA's Levy Gallery - Patch.com
Ann Tolson Silent Auction Resumes at NHAA's Levy Gallery  Patch.com

457-Mile 1995 Ford Bronco XLT Heads to Auction, It's Literally As New - autoevolution
457-Mile 1995 Ford Bronco XLT Heads to Auction, It's Literally As New  autoevolution

Online collector car auction sets records, aids COVID-19 relief - Auto Remarketing
Online collector car auction sets records, aids COVID-19 relief  Auto Remarketing

FCC Plans to Finalize Phase I RDOF Auction Procedures and Explore 5G Use of High-Band Frequencies at June Meeting - JD Supra
FCC Plans to Finalize Phase I RDOF Auction Procedures and Explore 5G Use of High-Band Frequencies at June Meeting  JD Supra

Auction Houses Attract Collectors with Private Sales for Three Key Reasons - Artsy
Auction Houses Attract Collectors with Private Sales for Three Key Reasons  Artsy

A Trifecta of Ultra-Rare Stainless Steel Vintage Fords Is Heading to Auction - Robb Report
A Trifecta of Ultra-Rare Stainless Steel Vintage Fords Is Heading to Auction  Robb Report

August auction slated for State Trust land south of Apache Junction - Your Valley
August auction slated for State Trust land south of Apache Junction  Your Valley

Christie’s Gets Creative for 20th-Century Art Auction in July - The New York Times
Christie’s Gets Creative for 20th-Century Art Auction in July  The New York Times

Despite coronavirus, Manhattan Beach Education Foundation's virtual Wine Auction on track for record fund-raising - The Beach Reporter
Despite coronavirus, Manhattan Beach Education Foundation's virtual Wine Auction on track for record fund-raising  The Beach Reporter

BizBeat: J Street Vintage thrives through online auctions - Jefferson City News Tribune
BizBeat: J Street Vintage thrives through online auctions  Jefferson City News Tribune

Spoon! The Tick Event Auction at Heritage Starts Tonight - Bleeding Cool News
Spoon! The Tick Event Auction at Heritage Starts Tonight  Bleeding Cool News

Phillips To Hold Cross-Category Online Auction Of Watches, Jewels And Art - Forbes
Phillips To Hold Cross-Category Online Auction Of Watches, Jewels And Art  Forbes

80-acre Tree-Mendus Fruit Farm property bought at auction for $335,000 - WNDU-TV
80-acre Tree-Mendus Fruit Farm property bought at auction for $335,000  WNDU-TV

Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge - ESPN
Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge  ESPN

Short-term JGBs edge higher as 2-year auction sees solid demand - Reuters
Short-term JGBs edge higher as 2-year auction sees solid demand  Reuters

Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction - Barron's
Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction  Barron's

Chico State University centennial organ up for auction - Action News Now
Chico State University centennial organ up for auction  Action News Now

Long-Lost John Deere Found on Auction - WHO TV Des Moines
Long-Lost John Deere Found on Auction  WHO TV Des Moines

COVID-19 Forces Delay of Museum-Grade Vannoy Collection Auction - Autobody News
COVID-19 Forces Delay of Museum-Grade Vannoy Collection Auction  Autobody News

One Thousand Museum unit heads to the auction block - The Real Deal
One Thousand Museum unit heads to the auction block  The Real Deal

Just Sold: Copart pays $3.3 million for 45-acre auction site in Elk River - Finance and Commerce
Just Sold: Copart pays $3.3 million for 45-acre auction site in Elk River  Finance and Commerce

Paddle8 Selling Art Auction Platform and Client List in Bankruptcy Proceedings - ArtfixDaily
Paddle8 Selling Art Auction Platform and Client List in Bankruptcy Proceedings  ArtfixDaily

Steel Partners' Assets Go to Virtual Public Auction - Monitor Daily
Steel Partners' Assets Go to Virtual Public Auction  Monitor Daily

Sotheby’s to Auction Storied Ginny Williams Collection in June, Featuring Leading Women Artists Mitchell, Krasner - ARTnews
Sotheby’s to Auction Storied Ginny Williams Collection in June, Featuring Leading Women Artists Mitchell, Krasner  ARTnews

Richard Childress auctions Dale Earnhardt car, $425K goes to charity - Yahoo Sports
Richard Childress auctions Dale Earnhardt car, $425K goes to charity  Yahoo Sports

Essex Fells Borough BOROUGH OF ESSEX FELLS, NJ PUBLIC AUCTION - New Jersey Hills
Essex Fells Borough BOROUGH OF ESSEX FELLS, NJ PUBLIC AUCTION  New Jersey Hills

Art&Co. Announces the Launch of the World's Largest Online Art Auction for COVID-19 - WFMZ Allentown
Art&Co. Announces the Launch of the World's Largest Online Art Auction for COVID-19  WFMZ Allentown

Shipshewana Flea Market & Auction opens for the season - WNDU-TV
Shipshewana Flea Market & Auction opens for the season  WNDU-TV

Nye County to auction 580 properties online to support essential services - News3LV
Nye County to auction 580 properties online to support essential services  News3LV

Tulia cattle auction results | Livestock Markets - High Plains Journal
Tulia cattle auction results | Livestock Markets  High Plains Journal

York Theatre Company's UNIQUELY YORK Online Auction Extends Through June 30 - Broadway World
York Theatre Company's UNIQUELY YORK Online Auction Extends Through June 30  Broadway World

ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions - Thoroughbred Daily News
ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions  Thoroughbred Daily News

A New Era for Auctions? - MutualArt.com
A New Era for Auctions?  MutualArt.com

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