Five tips for your first online auction
Practical habits that separate people who enjoy their first auction from people who regret it.
1. Get verified before you find the vehicle
Verification involves a person reviewing your documents, and lots open on a clock. Register, upload your license and accept the agreement first, so your account is ready when the right lot appears.
2. Watch a lot before you bid on one
Open the live room and watch a lot from start to close without bidding. See how quickly bids arrive, how the clock behaves in the closing seconds, and how the numbers climb. It costs nothing and removes most of the panic from your first real bid.
3. Write your maximum down
An actual number, with fees and delivery included, written where you can see it. The version of you bidding with seconds left is more optimistic than the one who did the sums.
4. Use a proxy maximum
Set your ceiling once and let the system bid for you. It holds your limit without asking you to decide anything with a clock running.
5. Call the specialist first
Every lot has a named specialist with a direct line. Ask about condition, timing, reports and delivery to your ZIP. A two-minute call is the highest-value thing a first-time bidder can do.
And one thing not to do
Do not fall in love with a single lot. Shortlist three you would be happy with. The ability to walk away is the only leverage a buyer has at auction.