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Tips for auction addicts

As more people enter the online world of auctioneering, High Street Auctions offers a guide to astute auction buying behaviour, as it is quite possible to become addicted to the thrill of outbidding competitors and purchasing what one perceives to be a fantastic bargain, which may not be what it seems.

15 Oct 2013

Image courtesy of FreeDigitalPhotos.net

In order to secure a genuinely good deal, it is important to do one's research and proper planning prior to participating in an auction, whether in person or online. Attending a professional and prestigious auction, in person, is an exhilarating experience all on its own particularly when run by an experienced and highly qualified auctioneer.

Tips

Be clear on why you are purchasing.
Allow for commission, renovations and incidentals in your budget.
Do your homework - visit the property and decide on your limit that you will bid to at the auction.
Study the investor pack and ask questions.
Ensure your FICA and registration documents have been submitted beforehand.
Bid responsibly - stick to your limit and don't exceed what you can afford.

For more information on upcoming property auctions and a list of featured properties, go to www.highstreetauctions.com.