You may be wondering what an auction is and what auctions can do for you. You are also probably wondering how an auction works and what advantages come with buying at an auction versus buying at a regular in-store sale.
We have all the necessary information to answer your questions about Georgia auctions. Auctions are a way of life for many people and include good deals, fun interactions, and the thrill of competition.
What Exactly is an Auction?
Forget your previous perception of the auction industry. When many people think of an auction, they imagine a fast-talking man pounding a giant gavel and yelling, “Sold!” Other people think an auction exists to get rid of unwanted property and possessions. Neither of these images portray the real essence of an auction.
An auction is the public sale of property that goes to the highest bidder. Auctions are more than the buying and selling of goods and services – they are a culture! Here’s some more information about what you may experience when participating in a Georgia or Carolina auction:
• Search the local newspapers, online advertisements or an auction’s website like the Georgia – Carolina Auto Auction for cars that interest you. Show up early on the day of the sale so that you can inspect the items of interest. Get a good seat in plain view of the auctioneer and register with the auctioneer so you can easily bid once the sale begins. You should receive a bidding packet upon registration.
• The auctioneer brings out and / or describes the properties one by one and opens the floor for bidding by all registered participants. When people begin to bid, the auctioneer will chant to keep all the bidders informed. He calls out the starting price and then adjusts the price as participants bid on the item.
• Depending on the type of auction you attend, you either raise your bid paddle, raise your hand, or gesture to the Georgia auction ringmen staff to indicate your interest in bidding. These gestures indicate you want to purchase the item up for bid and are willing to raise the price. Depending on the auction, the price increment raise may be predetermined or you may decide what the increment will be.
• If you are the highest bidder, then you are entering into a contractual agreement with the seller and are committed to paying what you bid for the item. You should immediately find the Bookkeeper or Clerk, make your payment and make any delivery arrangements you may need.
Listed are just a few of the auction types that exist.
• Real estate (land, houses, condominiums, businesses, etc.)Estate items (furniture, clothing, appliances, etc.)
• Collectibles (classic cars, antiques, fine art, jewelry, etc.)
There are also several different auction styles. In live auctions, the bidders come to the Georigia auction site, register with the auctioneer’s staff, and then bid on items in person. These types of auctions in Georgia and the Carolinas often draw a large crowd of people from the community who are interested in buying and others who come simply to watch.
You can now “attend” an auction without leaving your home thanks to the internet. Many auctions allow participants to phone in their bids or watch live auctions via auction websites. People can visit online auction websites, such as eBay, to shop, bid, pay, and arrange shipment while relaxing in the comfort of their office or home.
How Did the Auction Industry begin?
Auctions are not a new concept. Although we cannot pinpoint a clear date of origin, there are historical records from as far back as 500 B.C. that mention auctions in ancient Babylon and Greece. Men used auction-style selling as a major mode of business transactions during this time, buying and selling everything from livestock and property to young women. The auction industry saw its greatest change in the 1990s when people began to mix advancements in technology with auctions. Fax machines, cell phones, computers, and the Internet flipped the auction industry on its head. With its birth in 1995, eBay dramatically transformed the world. This auction website quickly rose to the top of online auctions websites and revolutionized the way people operate auctions. Today, most auctioneers offer both live and online auction options to accommodate participants from all around the world.
Why Participate in an Auction?
A common misconception among the general public is that Georgia and Carolina auctions are for an elite group of people. There are private auctions, but most auction sites are open to anyone and everyone.
Live auctions and online auctions offer many benefits. Visit an auction in Georgia for these reasons:
• We offer quick, easy, and honest purchasing. You get to view and examine the items (like a car up for bid at an auto auction) before buying it. You can also bid on it for a great price and take it home the same day. The auctions are conducted legally within the auctioneers’ code of ethics.
• You will be sure to enjoy the thrill that surrounds the entire auction process. You are sure to have a good time participating at your next auction in Georgia, NC or SC!
• At Carolina auctions you determine how much or how little you are willing to pay. Don’t let people tell you how much you should pay. You can go to an auction and get what you want at the price you want.
• You can participate in auctions from the comfort of your own home by taking advantage of an Internet auction, such as those on eBay.
Come join the excitement, convenience and fun that both live auctions and online car auctions offer. The time has come for you to take advantage of the many benefits offered by the auction industry!
How Can You Get Started?
If you’re interested in attending and participating in a live auction, look on the Internet or in the local paper for advertised auction sites that offer goods you desire. These resources will inform you on what auctions are available and what type of property is up for bid. If you are looking for a new vehicle, be sure to check out auto auctions, vehicle auctions, government auctions, and repo auctions. Many locations hold car auctions on a regular basis, so make sure to check regularly!
Once you decide which auction is the best fit for you, use these tips to help make your live Georgia auction a success:
• Take notes, a value book , your photo identification, and your checkbook. These items are necessities. You should also call the auctioneer’s staff or check their website ahead of time to verify what form of payment they accept.
• Preview the merchandise ahead of time. This inspection will help you determine just how much you are willing to pay for each item.
• Don’t forget to register with the auctioneer’s staff. Registering is also a great time to ask any questions you might have about delivery and whether or not there is a buyer’s premium.
• Pay attention to the bidding! You don’t want to miss your item or accidentally bid on the wrong one.
• Raise your paddle, your hand, or gesture to the auctioneer or Carolina auction staff to bid on an item. From that point forward, you should be able to accept or deny a higher auction bid with a simple nod of the head.
• Remember that although fun and often competitive, the auction process is still an official, legal business transaction. Do not raise the price if you are not willing to pay it. Therefore, know ahead of time which items are most important to you and how much you are willing to pay for them.
• If you win, remember that you have entered into a contractual agreement to purchase that item. Be sure to pay either the Bookkeeper or the Clerk promptly.
With this advice, you should be able to successfully navigate your way around a live auction in Georgia.