Welcome to your ultimate accounting resource


eBay and How to Buy Your Stock at Offline Auctions

I have probably seen it all as far ascigarette cards in albums or boxes, stamps,
auctions go and, though I've been buying atpieces of vintage jewellery, sets of toy
auction for more than thirty years, I stillsoldiers. I've lost count of the number of
make mistakes, still find things to surprisetimes I've viewed postcards one day, bid and
me. This article is designed to help youpaid for them the next, and later discovered
avoid most of the problems typicallythe real gems of the collection were missing.
encountered by newcomers and old handsThe cards have been moved to another box or
alike.* Visit as many auctions as you can toalbum, originally containing low value cards
learn how individual auction companieswhich have been bought for next to nothing by
operate. There are good, bad and downrightthe ruthless perpetrator. Check content
ugly auction houses. All auction houses arebefore leaving and inform auction staff about
bound by national and Statutory regulations,irregularities. It's too late when you get
and all have their own independent ruleshome.* The 'panic button' is a popular con,
detailing what they expect of bidders andwhereby, as you are bidding, probably against
buyers and what you can expect of them.just one other person, someone will tap you
Legally, national rules must be displayedon the shoulder and say something like:
somewhere prominent, in the auction"Don't touch those ornaments, they're fakes'.
catalogue, for example, or on a wall orIn the time it takes you to realise what's
notice board in the saleroom. Most companiesgoing on, some other person will have had the
combine national and company rules in onelot marked down to him. He and his friends
location. Read and make sure you understandhave got what they wanted, in more ways than
what they mean and ask any questions beforeone!* Watch out for bids being 'taken off
bidding.* Remember auction companies varythe wall', involving non-existent bidders.
and what is common practice in one isThis rarely happens in reputable auction
entirely unsatisfactory in another. Visit ahouses, incidentally. Taking bids off the
few salerooms purely to view the proceedingswall means what it says, and sometimes there
and see how other visitors bid, how and whereis no-one bidding against you but the price
they collect their goods, whether you can paykeeps going up, and up. A dishonest
by cheque, and so on. Some companies allowauctioneer is reading your face to see just
goods to be taken during the sale, othershow far he can push you to bid. Confuse him,
don't. Some require payment on the day,don't rush to bid, try to look as if you are
others will wait ten days or more.*losing interest at every bidding stage.*
Following on from the last point, be carefulRemember that the price your lot is knocked
about goods left in the saleroom whiledown at can be inflated quite considerably by
payment clears. Typically, the auctionbuyer's commission and statutory taxes.
company is not liable for the safety of yourCheck before bidding and add likely extras to
goods after the sale. If they get damaged,your maximum bidding budget.* Remember you
lost or stolen, that's your problem, notwill have to get the things you buy to your
theirs. Try to pay on the day where possiblehome or business premises. Some auctions
and certainly in smaller auction houses andprovide free transportation, many don't. If
others best described as 'iffy'. Iffy, to myyou have to hire a vehicle, take this into
mind, describes many non-custom builtaccount when deciding how much to bid for
salerooms, such as auctions held in abattoirscertain lots.* Beware ex-demonstration
and farm sales offices, any where porters aregoods; they could be damaged. Look for
shabbily dressed, lack knowledge offingerprints and stains indicating heavy use.
individual lots, or just seem disinterested.Avoid stock other people have been unable to
Generally speaking, the best salerooms aresell, they're not likely to sell for you
those attached to large estate agencies andeither. Look especially for sticky patches
valuation specialists or with custom builtwhere price labels have been removed. View
auction rooms.* Arrive in plenty of time togoods from all angles and beat unscrupulous
get a really good look at anything you areauctioneers' attempts to hide damaged goods
interested in buying. Inspect everything veryby standing lots close to the wall, arranging
carefully. Make sure items with multiple anditems tightly together, placing doilies over
moving parts are intact and workingheavy stains, painting over patched-up holes
properly.* Be on your guard against popularin cars and household goods.* Avoid items
cons, such as pieces from one lot beingyou can't try before bidding or risk buying
exchanged for bits from another, after youcomputers that don't work, televisions and
have viewed and just before the auctionradios minus essential components, books with
begins. Be especially careful of large lotspages missing.
of collectibles, such as postcards and



1 A B C D E 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 130 131 132 133