Auction Strategy 101!

Best advice I can give you when you're putting your house or your items up for auction: if you're not willing to let it go for $5, then go ahead and keep it because somebody somewhere will want to buy it, but they might not assign very much value to it. So if you look at it and you're like, you know what, just take it and get it out of my hair, you are a candidate for auction. And if you look at it and say, you can't give me $5 for that, I paid $500. Then auction might be a little painful for you. So again, we'll have this conversation, but I just want you to know going in, it's crazy. It's crazy. And watching people fight over things during the bid is just hilarious to me. I wanna add a little asterisk here too, as you're wondering about the value of your items. Our items tend to run for a 7-day window that gives enough time for the items to get out into the public, let people see it and ask their questions and keep an eye on it. And on the back end, as the auctioneer, I can watch the number of people watching an item and I'll see it across the board on all the items somebody's watching it. Now, if you're the seller, you're watching it too, because it's on the public website over at LeighThomasBrownAuctions.com and you're watching your bids and you're thinking, oh, nobody's bidding and those chairs are amazing. And so I get to tell you, the action's not going to start right away. Now, you will have some early bidders because they do know that early bidding is not a problem. It's not going to change things dramatically, but it does allow you to plant your flag on an item that you want and of course get the notifications from the system that you've been outbid or that you're still the winning bidder.