3 Things You Can Learn from Auctions in Toronto

posted on September 15, 2015 by Don Reinhart | No Comments

If you’ve attended auctions in the past, you’d know that they can be pretty fun and exciting. But did you know it can be educational as well? You can learn quite a few things by observing and participating in auctions in Toronto.

  • Knowing when to stop: While bidding in auctions, it can be easy to get caught up in the excitement and thrill of bidding against other competitors to try and “win” the item. But if the item is bidding above your budget, and you win the bid, it’s not really a victory per se because you will have paid more for the item than what you originally planned. When you are nearing your budget, slow down and evaluate whether there are others who are looking to continue the bid. If they are, it’s probably best for you to stop and let go of the item.
  • Identifying trends in collectibles: Attending different types of auctions can help you recognize what types of items are popular amongst collectors, dealers, and the general public. You can also learn more about what the general costs of these collectibles would be, and at what price would it be a steal.
  • Appreciating the history behind vintage items: The great thing about attending auctions is the people you will meet! You can expect to find collectors, young professionals, dealers, individuals looking for the next DIY project, etc. They can teach you a thing or two about how to identify the age of antiques and valuable furniture, what time period the furnishings are from, and interesting history tidbits about the construction of it. You will leave the auction feeling quite informed!

Are you excited to attend an auction yet? Visit our calendar today for an upcoming auction near you!