Auction Fever: The Thrills and Perils of Bidding on Estate Auctions
If you’ve ever attended an estate auction, you know that the experience can be both thrilling and nerve-wracking. From the adrenaline rush of placing your bid to the disappointment of being outbid, there’s no denying the emotional rollercoaster of estate auctions. In this article, we’ll explore what auction fever is, provide some tactics you can use when bidding at JD’s Realty & Auction a leading auction company in Knoxville, Tennessee, and discuss the importance of fair market value in estate auctions.
What is Auction Fever?
Auction fever is the emotional state that auction bidders can experience when they get caught up in the excitement of the bidding process. It’s that rush of adrenaline that comes from the competition of trying to win a coveted item and the disappointment that comes when you lose out to someone else. In some cases, bidders can become so invested in winning that they end up paying more than they intended, or more than an item is actually worth.
What are Some Tactics You Can Use When Bidding?
There are several tactics you can use to avoid getting caught up in auction fever and to make the most of your bids:
- Set a Budget: Before you attend an estate auction, set a budget for how much you’re willing to spend. Stick to this budget, even if you get caught up in the excitement of bidding.
- Research the Items: Before the auction, research the items that will be up for sale. This will give you a better idea of their value and whether they’re worth bidding on.
- Attend the Preview: Most estate auctions have a preview period where you can inspect the items up for sale. Take advantage of this time to get a closer look at the items you’re interested in and to ask questions of the auctioneer.
- Use Proxy Bidding: If the auction is an online auction, consider using proxy bidding. This allows you to set a maximum bid and the auction software will bid on your behalf up to that amount.
If you’re looking for an estate auction company in Knoxville, Tennessee, JD’s Realty & Auction is a great choice. With over 8 years of experience, they specialize in estate sales and auctions, and have a reputation for providing fair market value for all items. JD’s Realty & Auction offers both live and online auctions, so you can participate in the bidding process from anywhere.
The Importance of Fair Market Value in Estate Auctions
Fair market value is the price that an item would sell for on the open market, with both the buyer and seller having reasonable knowledge of the item’s condition, and neither being under any compulsion to buy or sell. JD’s Realty & Auction is committed to providing fair market value for all items sold in their auctions, which is why they’re a trusted name in the estate auction industry.
Estate auctions can be exciting and emotional, but it’s important to keep a level head and use some of the tactics we’ve discussed to avoid getting caught up in auction fever. Remember to set a budget, research the items, attend the preview, wait to bid, and use proxy bidding if it’s available. And if you’re in Tennessee, consider JD’s Realty & Auction for your estate auction needs.