Auction bidding, first time, need some pointers

JD

I'll be bidding at an auction for my first time on Sunday. Could use some pointers about do's and don'ts, traps to avoid, etc. Specifics: one day auction, mail bids ended today, opening bids will be 80% of the estimated stated market value amount or about 5/10% over the second highest mail order bid. All taxes are included, buyer pays a 10% hammer fee. Lots are auctioned off in lot order. Preview allowed in advance and on the day of the action. No returns. Thanks for your advice.

relayer

Watch the first few close to see if there are bargains but stick to the price you decide you will pay for the coin and don't overpay to win.

Placid

Examine the items you have interest in carefully before the auction (no returns) and figure out the most you are willing to bid and stick to it.
Have fun

kranky

Don't bid on things you didn't examine first.

Decide what you want to pay, write it down, and don't go over it. That's the number one trap to avoid.

Did you review the payment requirements? If you have to pay cash immediately, watch your bidding so you don't accidentally spend more than you brought.

kingmatt

Don't forget to add the hammer fee to the amount you are willing to bid. It adds up!

RalphP13

STICK TO YOUR BUDGET!!!
STICK TO YOUR BUDGET!!!
STICK TO YOUR BUDGET!!!

Don't get caught up in the excitement, and make sure your budget includes the hammer fee.