Rules for Smart Auction Bidding

How to buy anything at auction

Financial News – Yahoo! Finance
Thursday September 15, 6:00 am ET
Dana Dratch

“From online battles over collectible plates to real-world bidding wars for national treasures, auctions are one of the hottest retail venues going.

Auctions combine competition with commerce, spectacle and spending, not to mention the drama. On May 5, Sotheby’s is auctioning Picasso’s ‘The Boy With A Pipe.’ Will it beat the $86 million world-record price for a painting at auction?

…But whether you’re buying fine art or a used car, smart auction bidding starts well before the main event.

The formula is simple: Study everything you can about the item for sale.”

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