Live Auctions Are a Great Way to Find Items for Resale

I love the frenzy of a live auction. Ebay just doesn't cut it for me...it has to be live.

Luckily, I live in an area where there are three very active auctioneers within a 10 mile distance, and another 4 within 30 miles.

In fact, I like auctions so much...that we've made it a side business of sorts. You might be surprised at what you can find at live auctions, and how cheap those items will go. Just today, I was at an auction where an oak carved dining room set with 6' table, leaf, and 6 chairs went for...$35. Really!

How do I find local auctions?

There are two very easy ways to find local auctions. First, check the newspaper of your local city or town. If there are auctions nearby, they will advertise, and it will probably be near the yard sale section of the newspaper.

Second, a simple internet search can tell you who is nearby. If you're really lucky, your local auctioneers will have their own website, where they list upcoming auctions and give a sample of what will be at that particular auction. All three of my local auction houses do this, and I have to say, it's really handy.

If you go to your favorite web search engine and type in the name of your city or area, and then "auctioneer" or "auction house", you should get a list of local auctioneers. For example, if you live in San Antonio, Texas, type in "San Antonio Auctioneer" and you'll come up with some 984,000 sites, including an interesting one at the top on police auctions (a great source for used cars!).

How do I bid at a local auction?

Most auction houses are very helpful with newbie bidders. Plan to arrive at the auction at least a half hour before they start, and take a good look around. If you find things of interest, look them over carefully - auctions are take-it-as-it-is types of sales. If it's broken, you don't get a discount (although bidding will usually be lower). Look to see what seems interesting to you. You aren't trying to find the diamond covered by dirt...more than likely, there are at least 5 antique dealers there who already know what the diamonds are.

Start with the lower-quality "diamonds", instead. I've had a lot of luck with vintage children's toys, vintage cookbooks and children's books, and certain glassware and dishware (the more auctions you go to, the more you will learn about vintage and antiques).

Once you take a look around, go to the area where they are giving out numbers for bidding. Most auctions I go to are estate auctions held at a home, and offer a truck with food and drinks, and usually at least a Porta-Potty (if not the use of the bathroom inside the house). The cashier (where you get the bidding number) is usually near there. Be careful with that number...if it is lost and someone else uses it, you are responsible for any charges made!

Take a little while to get used to the auctioneer's cadence. Each auctioneer has a different way of calling prices, and it can seem intimidating at times. Unless there's something you're just dying to bid on, let a few bids go by before you jump in, so you know exactly what you're bidding on. Be careful not to wave at someone across the way, or even wave away bugs - this may be mistaken for a bid. If you brought someone along, make sure you're not bidding against each other - my husband and I have done that a few times!

Always, always make sure that you have a limit and you stick to it. It's very easy to get caught up in the excitement and bid much higher than you thought - and higher than something is worth. Remember, there will be many other auctions, and many other of the same gadget you want so badly, in the future.

Also, a great idea is to use the back of your bidding number to write down how much you are spending so you don't forget. I usually put down the price and a really brief description, jut to keep track. For example, "$1.00 - box of spice jars".

What are lots?

Some of the best deals for flea market merchants, antique sellers, yard salespeople, and ebayers are "box lots". Basically, the auctioneer's helpers will hold up a box (or two, or three!) of stuff, and one bid will take it all. There may only be one thing in there you want, but you are expected to take everything.

First, know what you are bidding on. Make sure you understand what's up for bid. If you ask, most auctioneers will back up and outline exactly which boxes are up for bid.

Second, realize that you must take all of it. It's not good auction etiquette to take one thing out of a three box lot and leave the rest of the stuff sitting there, unless you offer it to someone else ("Take whatever you want! This is all I wanted!"), or even tell the auctioneer so he can bid it off again.

Third, there is a really good chance that you can resell the items in there. Even the brass-plated wheat wall doo-dad from 1973. If you get three boxes for $3.00, that means each box came to $1.00. I'm positive, even in the weirdest box you can imagine, that you can find enough in there to make $1.00 at a yard sale with the items!

With box lots, you could fill up a very large yardsale with one good auction for very little money out of pocket.

Of course, the bad point on that is that...with box lots, you could fill up a very large yardsale with one good auction!

What next?

After you succesfully bid on something, it becomes your property and you are responsible for it. Most people at live auctions will respect your space if you start a pile, but realize that there are some shifty characters out there who might go through your pile and grab what they want when you aren't looking. It's best to set your boxes aside until there is a lull in what you're interested in (for me, this is when they move on to tools or guns...) and then tote them off to your car. It's okay that you haven't paid for them yet - this is expected.

At the end of the auction, never forget to pay your bill. Many auction houses add on a fee of 3-5%, but they will tell you this at the start of the auction. Give your number to the cashier and they will add up all your bids to give you a total. Most local auctions will take local checks, but may charge more for using a credit or debit card.

Then, you get to take home all your treasures and sort through them! That's the most fun of the day! I usually sort into three piles - yard sale, flea market, ebay. Anything that I can get a decent price through ebay goes in that pile first (check the completed listings to see what you might get for an item). I also usually price yard sale things immediately in order to save on time later.

Live auctions can be a great way to get a huge amount of merchandise for your flea market tables or ebay stores for a very low cash outlay. Just be careful not to get so caught up in the excitement of the win that you lose track of how much you've spent!