October 2, 2015
We are going to an auction in Bunker Hill, Indiana. Go behind scenes and then talk about positives, negatives and tips when going to an auction.
In this video, Tracy takes us with her Mom and her Aunt, into a live auction in Bunker Hill, Indiana to get a first hand look at how they work.
So grab your notebook and pen and get ready to take some notes!
It moves fast and Tracy gets in there and starts to bid. When it is all over, she has a room full of things and spent $200!
Tracy goes through all the things that she won. She got some vintage books, curriculum, some old tools, RCA camcorder, vintage bad mitten, skeet shooter and clay pigeons, vintage records, vintage photo’s, 22K tea set, vintage pots, McCoy pot, sewing chair, comic book, vintage type writer, camera, baseball bat, 4 vintage fishing pole, wagon, glasses to name a few. So she did really well.
Tracy looked up some of her purchases and she did really well! She had got a set of 4 books for $2 and they go for $20 a piece! She also thinks she can get $50 for a vintage Ghost busters toy set and $20 for each first aid kit as well as $20 for the tea pot set.
Next, Tracy reviews the experience. The good and the bad. She said that auctions are not created equal. It depends on where they are held, what night of the week they fall on, if it is a big town vs a small town, who’s in the crowd, the weather, etc.
She didn’t said that she had some problems. She had her receipt that she had paid and then the next day, they called her and said that they found some more tags and that she needed to come back and pay $80 more. Plus, when she was going through her tags, she found an additional $20 in mistakes on the tags. So she tells us to make sure that you know your auction house.
Also,the whole time she was in the auction,she had no access to the Internet, so she was buying without scanning or being able to look anything up. So that was not something that she likes to do.
Another thing that wasn’t good was that there were skilled bidders there. They knew what they were doing and they beat Tracy out, every time. They had gotten there before Tracy so they knew what they were bidding on, before the auction started. Tracy was happy when the pro’s left!
Those were the things that she didn’t like, but there was a lot that she loved about the auction. First was that auctions are so much fun. She said that auctions are her favorite thing to do and she would be happy to be going every day of the week.
The prices are great if you can find a good auction house that isn’t over priced plus if you are looking for vintage items, this is a good place to find them. The McCoy pot that she had bought was in better condition than the ones’s listed and those were going for over $200!
1.) Arrive early! HOURS EARLY!!!!Make sure you get there early to review everything so you can research the things you want to buy and decide how much you are willing to pay. Bring a pad and paper with you to write everything down that you are wanting to buy.
2.) Make sure that you research everything that you want to buy. Take the time to look them up, compare the ones that you are seeing, with the closed listings that you are finding online. Once you have an idea of what they are worth, write down your top price so you do not over bid.
3.) Pay close attention to what they are saying and learn the lingo. Tracy talks about a vintage gumball machine that she wanted but she couldn’t tell if the auctioneer was saying $9 or $90. Well, it ended up being sold for $9! So listen closely!
4.) Pay attention to the season. Up north, in the winter, prices are higher because there are more people attending, since they are looking for something to do. Small town vs big town also makes a difference.
5.) Ask around and find out what others think are the best auction houses around. That way you can find out where the locals think the best places for you to attend.
In the end, Tracy estimated what she thinks she will make on her purchases and it looks like she will make $850 profit from her trip to this auction! So that is a very good night!
Hope you enjoyed this information and we will see you again soon!
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