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How Auctions Work

Auctions can seem overwhelming, confusing and unsure. So what do you need to know when you attend your first auction? Well, lets begin on what is an auction and why do they even exist. An auction is a process of buying and selling items by offering them up for bid, taking bids and then selling them to the highest bidder. Typically, these items are sold over the course of several hours. YOu don’t necessarily have to stay for the entire auction if you only have one or two items you’re interested in. You can even place an absentee bid or have a staff member call you so you can place bids over the phone. There is also the opportunity before the auction begins to preview the items in person that are being sold.  Why are things auction you ask? Well, some might be from an entire household like an estate, where the owners need to sell these items quickly in order to prepare their home to be put on the market. It could also be a small business where the owner is retiring and it needs to be clo…

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