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2<br />
13<br />
Confident at Auctions<br />
Looking confident may be all you need to be the last<br />
bidder standing when the hammer goes down.<br />
Does your blood pressure go sky-high at<br />
the sight of an auction room? Chances are<br />
some of your fellow bidders are doing all<br />
in their power to psych you out and win<br />
the bidding.<br />
Securing a property isn’t just about<br />
having the most money. Sometimes the<br />
winning bidder is the one with the most<br />
confidence.<br />
They use psychology to convince<br />
opposing bidders to give up, hoping to<br />
make everyone else think they’ve got more<br />
to spend than anyone else in the room.<br />
Too often buyers have preconceived<br />
ideas about how the auction will unfold<br />
and have their confidence knocked when it<br />
doesn’t go their way.<br />
Two can play at that game. You just need<br />
to get your strategy right.<br />
Looking confident may be all you need<br />
to be the last bidder standing when the<br />
hammer goes down.<br />
To be that person you need to do some<br />
preparation. Make sure you go to a few<br />
auctions first to get used to them.<br />
Come bidding day, park yourself on<br />
the side at the front so that you can<br />
see everyone in the room and, more<br />
importantly, they can see you whether<br />
they’re at the back of the front.<br />
It gives you a vantage point and shows<br />
the opposition you are bidding confidently<br />
against them.<br />
You are hoping that the other buyers<br />
have a plan in place.<br />
Often that’s to start low. So if you come<br />
in with a relatively high first bid, you may<br />
rattle them.<br />
“The lower the open bid the more people<br />
can afford to bid. So you could knock out<br />
some of the opposition before they even<br />
place a bid if you choose the right opener.<br />
Don’t start at $500,000 for a house you<br />
know is going to go for at least $800,000.<br />
Put an opening bid of $785,000.<br />
Immediately your opposition is going to<br />
think it will go incredibly high and might<br />
be unnerved.<br />
Call each bid out confidently. “It shows<br />
you are comfortable and in control.<br />
The more confident you seem the more<br />
people will think you have done it before.<br />
It’s a really good idea to vary your<br />
bidding increments.. If it’s going up by<br />
$2000 bids and it’s below your limit don’t<br />
be afraid to put a $10,000 bid in..<br />
Your competition is always thinking<br />
about that next $2000 bid and if you<br />
change the rhythm from $2000 to $10,000<br />
you show you have the money and it<br />
changes where their next bid has to be.<br />
Instead of $4000 more it is $12,000 more.<br />
Finally, if you’re a couple, make sure<br />
you’ve discussed every aspect of the<br />
auction before you get there. As soon<br />
as you start looking at each other or<br />
conferring, the opposition will think<br />
you’re weak.<br />
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