WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
With record low print publication sales and the closure of many traditional print outlets, advertising an auction in a newspaper or trade publication just isn’t enough anymore. Savvy auctioneers are turning to more modern methods that make full use of technology -- and make it easier for bidders to find what they need at the price they want to pay. Learning more about the different ways you can connect with auctioneers and find out about upcoming auctions can help you snag a great deal.
Since fewer people are buying and reading newspapers, there are fewer eyes on every ad a business places. Auctioneers are choosing to market upcoming events and individual items in online listings and on business webpages. Watching your favorite sites and forums for specific auction houses or news can help you spot a great deal. Auctioneers place advertisements on sites that are relevant to the items they have to sell, so keep an eye out for ads as you visit DIY, collectable and special interest forums. Asking around in the groups you already belong to can yield great information as well; some auction houses offer a first time buyer promotion or special and reward those existing users who invite someone new.
Start Looking Online
A recent study by PEW research indicates that 64% of all adults get at least some of their information straight from a smartphone. Auctioneers have figured this out, so at the very least, a local auction house or business should pop up when you use a search engine for the term “auction” and your city. LocateAuctions.com makes it easy to find an auction near you or online and is an ideal starting point -- some houses may not have a true website and only be listed on our site.
Businesses know that they have to communicate with potential bidders online and via social media. If you find a local auction house or an auctioneer you like, then following them on Facebook, Twitter or Pinterest can help you get the first shot at new goods and learn more about upcoming posts. You can also become a more savvy buyer, since most auctioneers go out of their way to cultivate new bidders and attendees.
Not sure about the auction itself? Auctioneers what your business and really go the extra mile to make you feel comfortable; our recent piece about auctions specifically for new bidders can help you get comfortable with the process, too. Simply picking an auction that appeals and showing up can go a long way towards helping you understand how auctions work and how bargains can be found.
When you find an auction site you like, sign up for their email list and any newsletters offered. Some auctioneers are still old school, so don't be surprised if a paper newsletter shows up in your real mailbox. These updates allow you to stay up to date on what goods are being offered and the dates of upcoming events. Some auction houses also offer SMS and text reminders if an item you've indicated interest in arrives or is up for sale, so indicating your interests can help you score a great find.
Not sure where to begin? You don’t have to do it all at once – or all alone! LocateAuctions.com makes it easy find local auctions near you -- or those that specialize in the items you are looking for. Contact us for help – or set up your profile today, it’s fast, easy and free to start.
