Consider this scenario: It’s a Saturday morning, and you’re at your local auction house to bid on a new car. There are 20 other bidders present, and you know there will be stiff competition to walk away with this item. Knowing the stakes, you end up winning the car with not only the highest bid, but a bid that is higher than market value.
This should be a happy moment. Instead, you’re met with regret even in victory – a feeling known as the winner’s curse. This blog will expand on the winner’s curse and provide some tips on how not to succumb to it.
The traditional way to buy a house involves searching property listings and working with a real estate agent. But you can also buy a house at an auction. Real estate auctions can benefit both buyers and sellers. Still, many people think it’s not an option if they don’t have liquid assets to purchase properties outright. Here’s more about real estate auctions and how you can participate even if you don’t have cash at your disposal.
This past year was a welcomed return to normalcy in some regards. The country opened up, businesses unlocked their doors, and mandates were lifted. But for a world constantly in change and in flux, the auction industry largely remains unscathed.
This stability leads to a steady flow of auctions, which means there are always unique and interesting auctions to come across. They say you never know what you’ll find at an auction, which is why we like to compile an annual list of our favorite and most memorable events. You can also take a look at our recap of the most interesting items auctioned off in 2021.
For as much as auctions serve a functional purpose for businesses and companies, the randomness of some items auctioned off is what keeps this industry so fresh and unique. Each year, there are hundreds and hundreds of items auctioned off around the world that make headlines for their peculiar nature.
We decided to take a look back on what 2021 auctions produced that may make you scratch your head. Here’s what we found.
Buying jewelry is often a long, drawn out process because the pieces are so expensive and valuable. Much like a car dealership, this markup is done for a reason so jewelers can give the appearance of offering you discounts. At jewelry auctions, the haggling is removed. Instead, some simple research can help you score great deals. We’ll provide tips on how to find value at a jewelry auction and verify the authenticity of certain items.
Estate auctions are often full of antique collectibles and heirloom items that have been passed down for generations. In some scenarios, you may find fine china available to bid on.
When you go to one of these auctions, how do you know how much to pay for china? And if you’re a seller, how can you gauge the value of your fine china? This blog will provide guidance on how to proceed when buying or selling fine china at an auction.
If you’ve ever been to an appliance store or spent time browsing the web, then you know how expensive restaurant items are. Between stocking a kitchen and setting up the front of the house in an inviting and welcoming way, the costs add up.
That’s why many people turn to restaurant equipment auctions to buy quality items at a fraction of the price. For those of you who are new to restaurant auctions, we compiled a guide of common items you can bid on.
When it comes time to buy or sell a house, your first instinct is typically to call a real estate agent to either help list your house or find properties to purchase. However, there are other ways to land your next investment, forever home, or sell that pesky piece of property you’ve had on the market for months.
Enter the world of auctions. Yes, you may associate auctions with buying an antique item or selling unused equipment, but both home buyers and sellers alike can benefit from real estate auctions. As the real estate market continues to boom, we’ll discuss the benefits of buying or selling your house using an auction.
The idea of storage units is hardly a new business approach. What started in the 1960s as a way for homeowners to store belongings in a cost-effective manner soon exploded in the 2000s when storage units seemingly lined city blocks in major cities and rural towns alike.
Buying a brand-new shiny piece of equipment may look nice, but it’s not always the most financially responsible decision when you’re running a business. Costs add up, and it may be more cost effective to instead look at used equipment.
Auctions are a great way to restock your inventory or add to your collection, but how do you figure out what price you should pay? And if you’re selling items, how do you know whether you received good value? We’re delving into the factors that help determine the value of used equipment so you can be better prepared the next time you’re at a heavy equipment auction.
