Auctiontime is one of the biggest auction websites you will find operating anywhere.
They specialize in mechanical equipment sales, farm equipment and machinery, trucks, tractors, and occasionally, choppers.
Auctiontime has an impressive dossier of items on sale that sometimes, it looks like the list is inexhaustible.
In fact, they claim to host the biggest auction sales event of the year.
Their December auction sales had over 19,000 different bidders from every state in the United States, every corner of Canada, and over 52 countries.
In that period, they closed over 10 000 deals for more than 1000 sellers. Those are impressive numbers by any standards.
There are many pros to shopping at a website as big as auctiontime.
Sellers traditionally flock to a marketplace where they are sure their goods will be displayed to a larger audience.
Buyers also go there because of the promise of the caliber of sellers such marketplace attracts. Hence, it is a win-win-win situation for all involved.
Especially since auction websites have been the one-stop-shop for people who love to get bargains on deals.
Deals abound on auctiontime, but you can still save some more if you know what you are doing.
This article will share nine great tips to save a few more quid when you shop on auctiontime. Here goes:
Set a Max Bid
The nature of auctions means that sometimes, prices change as more bids enter the discussion.
For a novice, it can quickly get overwhelming, and you get sucked into the bidding war.
This is a recipe for disaster as you could end up paying well over the going rate.
Before you place your first bid, you can set a maximum bid. This will help you maintain discipline when the offers begin to come in at the business end of the auction.
Not setting a ceiling will get you sucked into a bidding war. You don’t want to get sucked into a bidding war.
Read Between the Lines
You should be looking out for instructions such as shipping and return policies on the items.
Once you find them, make sure you read them all the way.
These little things can save you a lot of trouble because Auctiontime will not take responsibility for your indiscretion.
Since the things on sale have seen some level of use in the past, they might not be in sparkling form. Read the description so you know what you are paying for.
Even though every auctioneer has their mode of operation, auctions usually have a general pattern. It starts slow and picks up pace as the deadline approaches.
One more thing that you will notice is that bids increase at a regular rate.
Any abnormal increment in bids should immediately draw your attention. Bids in the hundreds usually increase by tens while thousand bids increase by the hundreds.
When you notice a sudden spike in an auction, it might be best to sit out that one. It is usually a statement of intent from the bidder.
Unless what you were looking for was a bidding war – in which case, have at it!
Work Out the Logistics
You never know. You might just win the auction. After you pay for the goods, some sellers might begin to charge you for holding the item for you.
It merely is counterintuitive if you run into extra cost because you drag your feet on getting your equipment delivered.
It would not hurt you have a semi lined up, just in case you win the auction.
Cover Every Angle
Auctiontime offers some extra features that some other auction websites do not give you.
One of them is the ability to talk to the sellers before the end of the auction. With this, you can be sure of what you are buying.
You can even schedule visits to their warehouse to check out the item.
This simple act of due diligence will put you in a better place to evaluate the item you want to buy and set an appropriate maximum bid.
Take Your Time
This might sound obvious, but you will be surprised how many people need to be reminded about this.
Getting into an auction as early as you can affords you more time to plan your approach, as well as influence the process.
Take your time to study the pattern of the bids, bid intermittently to show intent, and get to know what you are paying for.
Do Not be Afraid to Walk Away
Never forget that there are plenty fishes in the river. Auctiontime has so many equipment on sale that you should never feel panicky or pressured to go beyond what you can afford at that moment.
You can simply allow someone else to take that round while you wait for the next one – which is sure to come sooner than you can imagine.
Knowing when to walk away will save you from a panic buy. It’s not the end of the world if you have to wait two days before you get that tractor.
Bid Odd Numbers
If you are entering an auction, you are trying to get a discount deal. As the popular saying goes, “all is fair in love, war, and auction.”
By the time the bids get in the thousands and tens of thousands, the offers increase accordingly in the hundreds and thousands, respectively.
For example, a $50,000 bid will typically increase by $10,000 or its multiples.
Instead of conforming to the norm, you can raise the bid by an unconventional number. Instead of $10,000, you can go with $3,000.
That might be the difference between winning and losing the auction.
Auctiontime has a burgeoning reputation, and for a good reason. There are so many accounts on the internet about people who got great deals on the website.
You can save even more than these enthusiastic people if you know when to squeeze and let go. All you have to do is follow these simple steps.