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Articles with tag "bidding"
How is the starting price for a lot determined?
The starting price of a lot at auction is rarely pulled out of thin air. It is based on an estimate—a preliminary valuation of the item determined by the auction house's experts. This is not the exact sale price, but rather a projected range within which the lot is expected to sell.
auction-school
#auction#estimate#starting-price+5
The Role of the Auctioneer: More Than Just a Person with a Gavel
In the minds of many, an auctioneer is just someone who talks fast and bangs a gavel. In reality, their role is much deeper and more complex. They are a key figure on whom the success of the auction and the final price of a lot directly depend. They are not just an intermediary but an active participant in the process, managing the dynamics and mood of the room.
auction-school
#auctioneer#auction#bidding+5
What is a 'Dutch Auction' and how does it work?
A Dutch auction, also known as a reverse auction, fundamentally changes the usual logic of bidding. Instead of participants raising their bids, the auctioneer starts with a deliberately high price and gradually lowers it in specific increments.
auction-school
#dutch-auction#reverse-auction#bidding+6
Participating in Your First Auction: A Step-by-Step Guide for Beginners
The journey to your first auction purchase begins with formalities. To gain access to bidding, you need to complete the registration process on your chosen auction platform. This process typically requires providing accurate personal data and contact information, which will be used for communication and document processing if you win.
auction-school
#auction#beginner's-guide#auction-bidding+5
Winning Strategies: How to Bid to Win a Lot at the Best Price
Success at an auction is rarely accidental. Behind every profitable purchase lies cold calculation, an understanding of psychology, and a well-chosen bidding strategy. Knowing different tactics allows you not only to control the bidding process but also to exert psychological pressure on rivals, making them doubt and retreat.
auction-school
#auction#auction-bidding#bidding-strategies+5
Auction Psychology: How to Control Emotions and Avoid Overpaying
Auctions create a unique environment where rational thinking often gives way to emotions. Organizers and auctioneers skillfully use psychological triggers to push participants toward higher bids. The two most common traps are the endowment effect and competitive arousal.
auction-school
#auction-psychology#auction#emotion-control+6