To say that auctions are like a game is an understatement; the auction itself is a game. It requires a strategic plan and a bit of people smarts tow in.
Whether you are off to buy a car or a boat, the same principles apply to kerb the competition. The game may necessitate some knowledge in math and probability, but some simple tactics can help you a lot.
Dressing up for the auction may be the last thing in your mind. This tactic will render your image intimidating and powerful. Your appeal will certainly scare other bidders, which in turn may keep them from making bids. If possible, wear a suit.
Choose the Right Seat
Choose the seat close to the auctioneer. Sitting in front creates an impression that you are a VIP, or you are a regular at the event. Besides, it will help you identify the bidders you are up against.
Keep Your Limit Secret
Some people like to flaunt how moneyed they are. Do not be one of them. Keep your bidding limit to yourself. Once the competitors know how much you have with you, they can easily gain the upper hand. Similarly, if the auctioneer has an idea of your budget, they can easily turn the tables and control the odds against your favour.
Bring a Friend
If you want to validate all your decisions in the game, you can always get someone to come with you. See to it that the person is knowledgeable about the sale or the product you are eyeing.
The most important thing you need to do is get as much information as possible. The details on your notes will help you figure out a budget and come up with a foolproof strategy. Do not forget to read the regulations and the contracts before taking part in the event.