Setting a Realistic Budget for Your Next Live Online Auction

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Information about Setting a Realistic Budget for Your Next Live Online Auction

Published on December 19, 2016

Author: FederalAssetsAuctioneers

Source: slideshare.net

1. The truth is that many people choose to bid on items on a live online auction because it is an easy way to save money. Bidders set the price on collectibles and luxury goods, so it is very easy to find good value on items. At the same time, though, you still have a budget to consider.

2. Set up a personal budget to calculate how much discretionary income you have for an online auction. Keep in mind that the price will include the buyer’s premium and any shipping costs. Federal Assets Auctioneers, for example, does not charge for shipping in the United States.

3. Prioritize what you want to bid on. Don’t think broadly. Narrow your interest in collectibles so you can buy higher premium items. Keep a number in mind. Don’t let the excitement of an auction get in the way and cause you to bid more than you can afford. Consider submitting absentee bids so you can directly control how much you bid.

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