What is an auction? Why should you buy at an auction instead of buying at a regular in-store sale? How do auctions benefit you and how exactly does an auction work?
If you are asking some of the above questions, this is the right place to learn all about Georgia auctions. To many, auctions are more than just smart business; auctions are a way of life - an exciting world of good deals, fun interactions and the thrill of competition.
What exactly is an Auction?
To put it simply and concisely: an auction is the public sale of property that goes to the highest bidder. However, the culture of auctions goes way beyond simply buying and selling goods and services!
When many people think of an auction, they envision a fast-talking man pounding a giant gavel and yelling, “Sold!” Others think that an auction is nothing more than a desperate effort to get rid of unwanted property. Let’s reevaluate any preconceived notions about the auction industry - neither of these images portrays the real essence of an auction. Here’s a bit more detail about what you might experience when participating in a live Georgia auction:
- First, pinpoint which items are of interest to you by scouring the local newspapers, online advertisements or auction websites like Perry’s Auto Auction in GA. Make sure that 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. You should receive a bidding packet upon registration.
- As the auction begins, the auctioneer will bring out and/or describe the properties one by one and then open the floor for bidding by all registered participants. When people begin bidding the auctioneer will start his fast-paced chant, keeping all the bidders informed by calling out the starting price and then adjusting the price as participants bid on the item.
- Depending on what kind of auction you attend, to indicate your interest in bidding you either make a gesture to the Swainsboro auction staff (called ringmen), raise your bid paddle, or raise your hand. These gestures indicate that you still want to purchase the item up for bid and are willing to raise the price. Depending on what type of auction you are participating in, the price increment raise may be predetermined or you may decide what the increment will be.
- Keep in mind that if you are the highest bidder, meaning that you have offered the highest accepted price for an item, 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 then arrange delivery details.
There are many types of auctions in Swainsboro GA including estate auctions, auto auctions, car auctions, collectible auctions, repo auctions, & wholesale auctions. No matter what your interests are, chances are you can find a related auction:
- Vehicles (cars, trucks, motorhomes, RVs, motorcycles, ATVs, etc.)
- Real estate (land, houses, condominiums, businesses, etc.)
- Estate items (furniture, clothing, appliances, etc.)
- Commodities and livestock
- Collectibles (classic cars, antiques, fine art, jewelry, etc.)
- And much more!
In addition to all the different kinds of auctions, there are also several different auction styles. In the more traditional auctions, commonly known as live auctions, the bidders come to the Georgia auction site, register with the auctioneer’s staff, and then bid on items in person. These types of auctions in GA often draw a large crowd of people from the community who are interested in buying and others who come simply to watch the activity, just like they would a spectator sport.
However, thanks to today’s tech-enabled world, many auctions give participants the chance to phone in their bids or watch live auctions via auction websites, easily bidding with a few strokes of the keyboard and mouse. Conveniently, you can now “attend” an auction without leaving your home. People can even go to online auction websites, such as eBay, to shop, bid, pay, and arrange shipment while lounging on their couch at home.
Why Participate in Auctions?
Both live auctions and online auctions offer many advantages over simply buying an item at a store! Here are a few reasons you may choose to visit an auction in Georgia for your next big purchase:
- Quick, easy, and honest purchasing. Auctions are designed to be a painless business transaction - all conducted legally within the auctioneers’ code of ethics. Plus, not only do you get to view and examine the item you are interested in (maybe something like a car up for bid at an auto auction) before buying it, but you also can bid and potentially come home with it all in the same day!
- Set-your-price shopping and great deals. You can go to an auction and get what you want at the price you want. At GA auctions (whether a vehicle auction, an estate auction, or a different kind of auction), you alone determine how much or how little you are willing to pay. Don’t let people set the price for you; you’re the boss!
- The thrill of the bid. From the chant of the auctioneer to the competitive bidding atmosphere, you just can’t deny the fun and electricity that surrounds the entire auction process. Give it a try and you are sure to have a good time participating at your next auction in Georgia.
- Oftentimes, the convenience of buying from home. Because of how auction websites like eBay have revolutionized the auction industry, you can participate in auctions from the comfort of your own home. (However, you will miss out on the excitement of attending a live auction in person!)
We often come across the misconception that GA auctions are only for an elite group of people. While you may run across the occasional private auction, most auction sites are open to anyone and everyone. That means you can participate!
How did the Auction Industry begin?
Believe it or not, auctions have existed for millennia; they are not a new concept. Although we cannot pinpoint a clear date of origin, we do have 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 to property. Even young women were auctioned off to men looking for wives!
Auctions continued to be used as a major mode of commerce in both the East and the West as history progressed, but the auction industry saw no greater change than in the 1990s when people began to mix advancements in technology with the legacy of auctions. Fax machines, cell phones, computers, and the Internet permanently changed the auction industry. However, these changes paled in comparison to the drastic way that eBay transformed the world with its birth in 1995. This auction website quickly rose to the top in the world of online auctions websites and revolutionized the way people do auctions. Today, most auctioneers offer both live and online auction options to accommodate participants from all around the world.
So what’s holding you back? Come join in the excitement, convenience and fun that both live auctions and online auctions offer. The time has come for you to dive into the auction industry!
How can You get Started?
If you’re interested in attending and participating in a live auction, start by scouring the Internet or the local paper for advertised auction sites that offer goods you are interested in. 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, and repo auctions. Many locations hold car auctions on a regular basis, so make sure to check regularly!
Once you decide on which auction is the best fit for you, read these simple tips that will help make your live GA auction a success:
- It pays to dress comfortably, so leave your high heels or dress slacks at home.
- Arrive early so you can preview the merchandise. This inspection will also give you time to 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 or if there is a buyer’s premium.
- Don’t forget to grab a pen and paper to take notes, a value book (if applicable), your photo identification, and your checkbook! These items are necessities. It’s also always a good idea to call the auctioneer’s staff or check their website ahead of time to verify what forms of payment are accepted.
- Once bidding begins, pay attention! You don’t want to miss your item or accidentally bid on the wrong one.
- When you want to bid on an item, raise your paddle, your hand, or gesture to the auctioneer or Georgia auction staff. From that point on, you should be able to accept or deny a higher bid with a simple nod of the head.
- Don’t jump the gun! You certainly do not want to raise the price if you are not willing to pay it. Remember that although fun and often competitive, the auction process is still an official, legal business transaction. 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 and then arrange how you will pick up your merchandise.
These tips should help you successfully navigate your way around a live auction in Swainsboro, Georgia!