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So, I went to my first auction today... and it was an auction for craft supplies. A craft supplier/distributor went out of business and had five warehouses full of supplies to sell. It was awesome. There were pliers, wire, beads, bracelet forms, findings, and more.
We started our day at about 9:30 am with a walkthrough of the merchandise. We looked at everything and made a list of the items we were interested in. At 11:00 am, we started getting excited because it was time for the auction to start. By 12:00 pm, we were frustrated because the auction still hadn't started. Finally, the auctioneer started the auction and we were rolling. They started by asking if anyone was interested in buying the entire lot. There was a bid for $35,000 for everything (easily over $1,000,000 worth of merchandise). The auctioneer did not want to accept the bid, so the individual lots went up for sale.
We bid on a couple of things, and even won a few (glass beads, seed beads, wire, and copper findings). Then, the "big boys" started bidding. The auctioneer started bundling things in huge lots (like selling 6 pallets of stuff at one time). At this point, the hubby and I were pretty much out of the bidding. Even though we could afford the pallets, where on earth would we put 6 pallets of stuff? Just before we left, the auctioneer decided to call off the auction and sell everything to the first bidder for the $35,000 he offered at the beginning.
The result of the day was a roller coaster of emotion: excitement, frustration, anticipation, excitement (again), frustration (again), and finally disappointment. We were happy with the items we won (although there were a couple of things we would have liked to win... and a couple of things we wanted to bid on, but they were placed in large bulk lots, so we would have needed to purchase 6 pallets to get the one case of things we wanted). We wanted to take our things home... but at the end, nothing was for sale. We went home with nothing to show for our day. Overall, I think it was fun... but, I still want my things!
We started our day at about 9:30 am with a walkthrough of the merchandise. We looked at everything and made a list of the items we were interested in. At 11:00 am, we started getting excited because it was time for the auction to start. By 12:00 pm, we were frustrated because the auction still hadn't started. Finally, the auctioneer started the auction and we were rolling. They started by asking if anyone was interested in buying the entire lot. There was a bid for $35,000 for everything (easily over $1,000,000 worth of merchandise). The auctioneer did not want to accept the bid, so the individual lots went up for sale.
We bid on a couple of things, and even won a few (glass beads, seed beads, wire, and copper findings). Then, the "big boys" started bidding. The auctioneer started bundling things in huge lots (like selling 6 pallets of stuff at one time). At this point, the hubby and I were pretty much out of the bidding. Even though we could afford the pallets, where on earth would we put 6 pallets of stuff? Just before we left, the auctioneer decided to call off the auction and sell everything to the first bidder for the $35,000 he offered at the beginning.
The result of the day was a roller coaster of emotion: excitement, frustration, anticipation, excitement (again), frustration (again), and finally disappointment. We were happy with the items we won (although there were a couple of things we would have liked to win... and a couple of things we wanted to bid on, but they were placed in large bulk lots, so we would have needed to purchase 6 pallets to get the one case of things we wanted). We wanted to take our things home... but at the end, nothing was for sale. We went home with nothing to show for our day. Overall, I think it was fun... but, I still want my things!
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