How to Find and Attend a Local Consignment Auction

In our present difficult economic times, everyone seems to be looking for ways to save money. One of my favorite methods of accomplishing this goal is to attend local consignment auctions. They are not only a place to find bargains on things you want or need, but they are a great source of entertainment as well. When you go to an auction, you never know what you'll find; but you're sure to find at least one treasure you can't live without. Some auctions sell used merchandise. Others sell only new stock, and still others have both used and new items up for bid. If you have a free evening, I encourage you to find an auction near you and check it out.

The first step is to locate an auction close to where you live. There is a wonderful website called Auctionzip.com which allows users to search by zip code or city and state. Simply visit the site, input your zip code, and choose how far you are willing to travel. The site will then return a calendar listing all auctions for each day within the specified radius. Pick the day you would like to attend, and look at the description and location of each auction listed. Note that most listings have a preview of the type of items being sold. When you find one that looks interesting, you can click the "get directions" button which will allow you to see a map and get directions to the auction house or other location. Another way to find local auctions is to check the classifieds section of your local newspaper. If you do not recieve the local paper or you would like to find an auction in a different city, you can use Newspapers.com to view over 10,000 US newspapers online. Also, check your local yellow pages for listings for auction houses, and contact each listing to find out when their auctions take place and what kind of merchandise they sell. Which ever method you choose to locate an auction, keep in mind that there are several different kinds of auctions available. Real estate auctions deal mostly with homes and land, antique auctions appeal to collectors, and general merchandise auctions attract the widest audience and are, in my oppinion, the best auctions to attend.

When you arrive at the auction, you will need to acquire a number. This is how your purchases are recorded. Most auctions have an office area or a desk near the front entrance where you will register by showing your driver's license or state identification card and providing your address and phone number. You will be given a card printed with a number. When you wish to bid on an item up for auction you hold your card (called a paddle) in the air until your bid is recognized.

It is always a good idea to arrive early to get a good seat and to have the opportunity to peruse the merchandise before it comes up for bid. Most items will be set out on tables, and buyers are free to examine them before the beginning of the auction. Once the auction starts, the pace is quick; leaving little time for indepth scrutiny of the item being sold.

As the auction gets set to begin, the auctioneer will introduce himself and explain the terms of the sale. He will let buyers know what payment methods are excepted as well as whether or not there is a buyer's premium for the sale. A buyer's premium is a percentage (usually 10%) of each buyer's total that will be added to the bill. For example, if you purchase a group of items for a total of $100, you're bill would actually be $110 plus applicable sales tax. The auctioneer will also discuss any guarantees or other important general information about the merchandise being offered. If the terms of sale are not clearly stated by the auctioneer, it is important to find out what they are before you make your first bid. You can simply ask at the same place where you acquired your number.

When an item comes up for bid; the auction helpers, sometimes called callers, will hold the item up and show it around the audience to allow everyone a quick view of what is being auctioned off. The auctioneer will start the bidding at what he feels is a high dollar amount for the item and work his way down. If he reaches a price that you would be willing to pay for the item, you can raise your paddle in the air to bid. The auctioneer and the callers are constantly scanning the crowd for bids, and when a paddle is raised, the first bid is placed, and the bidding goes up from there. If you are interested in the item, listen closely to the auctioneer, and bid if you feel the price is appropriate. If someone else outbids you, the bidding will go higher, and you will have the chance to raise your paddle and bid again. The auctioneer will continue raising the price until no more bids are forthcoming at which point he'll declare the item "sold!" The callers will deliver the item to the highest bidder, an auction recorder will note his or her number and the purchase price, and the process will start all over with the next item up for bid.

When you are ready to leave the auction, take your paddle to the office, where an employee will match your number with the purchase records and provide you with a total for all the items for which you were the highest bidder. It is always a good idea to take pen and paper along to add your total up as you go in order to make sure that it matches with the total of your bill. You'll also be given a print-out listing the items you purchased. Examine this print-out to make sure everything is correct. Then, pay your bill; and pack up your purchases.

Now that you have a basic overview of how an auction works, I hope you'll consider attending one. You never know exactly what you might find. So, go exploring, save a little money, and have a great time.