Bidding at an auction is normally done using a simple gesture, a nod, or just a wave of the hand or a catalog. When an auctioneer spots a person nodding or waving to a friend, the gesture could be taken as a bid. Such personal gestures can result in mistakes, particularly at public used heavy equipment sales. So, before you go to the auction, you should consider the following things concerning the bidding process of heavy equipments used parts for sale.
As a Caterpillar parts dealer, it is imperative that wherever you are standing, may it be in the front or even in the extreme back, to keep an eye contact with the auctioneer. Therefore, when the time comes to place your bid on a specific item, the auctioneer will be aware of you and your intention to bid and hence easily acknowledge your bid.
Once the auction begins and identity is established with the bidders, participants and the auctioneer or ringman, it is wise to maintain the connection. Ringmen are the people who help the auctioneer to accept bids from the bidders the auctioneer does not notice. That way communication can go on by using hand gestures or bidding catalogs. The auctioneer returns to bidders who have engaged him as the bids increase.
Often auction participants in heavy equipment spare parts are prompted to continue bidding when the auctioneer keeps coming back even when they have reached their maximum budget. The best way evade this is by:
- avoiding eye contact with them
- showing negative head shake
- signal to the auctioneer
You should show no interest in participating.
In almost every situation, a quick decision must be arrived at in this unique kind of sales venue. Bidding in auctions moves at a very rapid speed and hence decisions must be made fast. Knowing at the time the degree of interest in an individual item, as well as your budget for such a purchase, will help you make a spontaneous bidding decision pretty more accurate. That is good since an auctioneer is not going to halt the bidding process for particular participants to make up their minds.