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The 4 Biggest Auction Mistakes and How To Avoid Them

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When buying at an auction, you must be exceptionally diligent to ensure you are receiving what you are expecting. So, here are a few tips to bear in mind when bidding at an auction. Strap in and take note!

Don’t Bid Blind

Here at Global Auctioneers, we source a lot of new stock, but there is also a fair amount of ex-display, customer returns and surplus stock, where top quality cannot be guaranteed all the time.

Because of this, we highly recommend you come and visit the item or utilise our free appraisal service before you bid on an item. If you come and visit the items, you can see for yourself whether the item is what you want and in what condition it is. Alternatively, if you are unable to come, we do have a free appraisal service at your disposal. A thorough evaluation of the product will be conducted and a report is sent via email. It is then in your hands to continue with the purchasing process.

Always Read The Description

This feeds into seeing the item before you buy it. But the description will give you all the details regarding surcharges, fees and lot information. Many people run into the issue whereby they are unsure of lot pricing discrepancies between the Timed and Live (Saturday only) auctions. Although details are given on the auction catalogue and the About Section, many do miss this vital information.

So here is a small infographic to help you understand:

Here, you can easily see how problems arise, but ensuring you are clued up is a good way to avoid this mistake.

Boxed Doesn’t Mean New

Again, this one feeds into not bidding blind. Because we get customer returns stock in, some of our stock arrives here boxed, but not new. So, to ensure you do not receive something disappointing, utilise our appraisal service or come and visit!

When The Hammer Falls, It’s Final

As soon as the hammer falls, the sale is final and as a customer, you will not be able to backtrack the sale. The 1979 Sale of Goods Act clearly states that the contractual obligation is in the hands of the buyer. As an auction house, we are responsible for ensuring none of the goods are misrepresented. However, as our goods are sold as seen, the obligation is then on the head of the consumer. You as a consumer are responsible for ensuring the items are acceptable for your purchase.

For more information on your rights as a consumer, follow this link.

As you can see, there are some ways you can trip up when purchasing at an auction. We have all made some silly mistakes when buying goods, but hopefully, with this blog, you will be more prepared to face the auction.

All the best,

The Global Auctioneers Team

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