I learnt a few tips from Steve when we went down to an auction with him. I think his tips alone saved me 10K when I bought at auction the following month.
Here's Steve:
http://imgur.com/8r7SOtx
Other tips
Set your limit. Do not go over it.
Use a notebook to record the bids. That way your eyes can see the 'number'...
Dress well
Look professional and serious.
Don't let the other's control the bids. Do it in odd numbers if you have to
If required, use your phone to call 'business partner' to slow down auction.
Maybe use a 4-5x bid to try to knock off the competition?
Good tips, thanks! I went to my first auction last weekend and it was surprising at how many people were there bidding, a lit daunting to say the least. I wasn't bidding, just interested, and the house went for a lot more than I thought it would. Worried that when I do want to bid, it'll get too daunting. Those tips are helpful.
Susan Kilbride