Thursday, February 2, 2017

Tips for Proper Auction Etiquette

Upon graduating from University of Southern California with a bachelor’s degree in accounting, Afshan Lakha worked for Coldwell Banker Commercial in Torrance, California, until 1989. She now serves as the principal for Lakha Investments, LLC, which focuses its activity on commercial real estate. An art collector whose travels in search of great pieces have taken her all over the world, Afshan Lakha enjoys attending auctions to find contemporary art. Proper etiquette is expected at an auction at all times, so keep these tips in mind when you attend one.

1. Understand your limits at the beginning of the auction, and don’t get caught up in the excitement of any items that move at a fast pace. Keep track of what’s happening so you don’t accidentally bid more than you can afford. 

2. When making a bid, you should catch the auctioneer’s eye by raising your hand or card. Keep it held aloft until the auctioneer recognizes the bid by pointing to you. Be aware of your movements during the auction process, particularly your arms, as they can be mistaken for bids during fast-paced auctions.

3. Don’t place pressure on auctioneers to start the bidding on items you want before they are ready. They will politely ignore the request, and persistence may result in you being asked to leave.

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