There’s nothing like the thrill of winning at an auction, where participants can feel excitement and adrenaline rush of trying to outmaneuver other bidders. It’s part of what draws people to auctions. Autograph auctions are no different, as the psychology of buyers and sellers are the same.
Whether it’s your first time at autograph auctions, or you’re a collector on the lookout for a rare item, here are three tips to help you win your next bidding war:
1. Do your research first – Emotions run high at autograph auctions. Even if you aren’t really keen on owning the autograph in the first place, you may still find yourself bidding for it because it simply feels good to win. Before you participate in an auction, make sure you do your research first, including the seller’s background. If the autograph being auctioned is said to be a high-value item, don’t bid right away. Gather as much information as you can to help you determine the highest amount you’re willing to pay. This will help prevent buyer’s remorse from possibly occurring later on.
2. Bid until the last few minutes – Normally, autograph auctions last anywhere from an hour to a week. If you’re interested in the autograph, bid only in the last few minutes. Industry insiders say that about a third of bids are placed in the last few moments of the auction period. What’s the rationale for this? One way to look at it is to hide yourself and your behavior from the competition. If someone else is interested in the item, your early bid might tip them off to be more vigilant with their bids. But if you wait until the last few minutes, you can catch them by surprise because their guard is down.
3. Do incremental bidding – At any auction you join, you must review and understand the bidding process including the rules for minimum bids and bid increments. The latter is particularly important to do an incremental bidding strategy. In general, however, this strategy works best for buyers who have time on their hands. Incremental bidding helps ensure you are always the highest bidder, though this is not a fail-proof strategy. It is still possible for others to snipe the item away in the last few minutes or seconds.
When it comes to autographs, we are the top of mind choice of collectors because we guarantee authenticity. Join our autograph auctions today!