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Originally Posted by LabRat
I have wanted to go to an auction for quite awhile now, but felt a little intimidated...how does it work? Congrats on the deals!
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It's easy. Watch the paper for upcoming auctions. There will be a table where you pick up a card or some such with a number on it. You'll want to look stuff over before the bidding begins.
Each item or set of items will have a lot number. The auctioneer will tell you what lot number he is starting on and may describe the item(s). Then he'll ask for an opening bid. If no one bids, he'll lower it. Once people start bidding, he'll keep asking for higher bids until no one does. That highest bidder gets the lot at that price.
So let's say the auctioneer says "Two dollars". Raise your card if you're willing to pay two dollars for the lot. If not, keep your card down.
Have in mind what the lot is really worth. It's easy to get caught up in the enthusiasm of an auction.