READ: Read. Everything.

 P.O. Box 3025, Oswego, NY 13126

(315) 236-6530

www.MCEWENAUCTIONCOMPANY.com

http://www.auctionzip.com/auctioneer/mcewen

http://www.facebook.com/McEwenAuctionCompany

 

http://pinterest.com/mcewenauction/

 

Twitter: @McEwenAuction

 

READ

Read.          Everything.

 

We live in an abbreviated world and because of that we are lacking.  Lacking in our want to read anything that's more than a few words long.  Some people won't go beyond my title and first line of this post.  We can say the technology, especially the texting and social media like Facebook® and Twitter®, have caused a social evolution where people are almost required to  simplify and be hyper-creative in turning just a few words into a larger meaning.  The goal is acknowledgement, we want others to "Like" our post or Retweet our message. The more simplified our post or message the more likely others will be to acknowledge it.  And perhaps it is this need to substantially abbreviate our words that has programmed our mindset to want our informational intake to be quick and overall fast to comprehend.

I woke up this morning with a strong desire to write something in regards to this, because I see a distinctive problem which I've experienced firsthand.  I work in the auction industry but see how this is occurring everywhere, in all facets of life.  People do not read, they disregard the "small print", and many times they even disregard the "large print", heck any print at all even.  It's like a subconscious need for things to just come to us instantaneously has been built into our psyche.  As if looking at a picture or a short sentence should somehow fill us with an exorbitant amount of information through little effort on our part.

Here is a direct example of my experiences so that you can get a true sense of what I am talking about.  And, as simple as the following scenarios are there is a larger, underlying issue that prevails within our social spheres.  I have a Facebook® page for my auction company and on it I will post updates on current auctions and many times accompany those posts with multiple pictures.  Problem one, people will ask "how much?" on an items picture.  Well, maybe I'm old school or just have a strong desire to research things and if it was me I would look at the name of the person / business who posted the picture then go to their home page to see if there are more details in regards to the picture they posted.  Seeing that I am an auction company though, I ask myself why would people ask me a price on an item?  I am an auction company, I don't sell items outright.  So, after someone posts "how much?" I graciously will reply that the item is only available via an auction then I will include a direct link where they can get more information.  And I will do this knowing that with just a click to the Home page they could have found that information.  Problem two, on that same picture where I will have posted a link along with the message of needing to buy the item through auction, I will then get more people asking the same original question, "how much?" or better yet "still available?"  Did you not read my response about buying at auction?  Did you not see the bright blue link that follows that response?  And this is where I am left in awe.  The answer to their question was right there, all they had to do was READ.

 

There is a severe disconnect happening on the social media frontlines and it cannot be blamed on the social medias' or technology.  The responsibility lies within ourselves and our own accountability.  We, and I say we because I am just as guilty as the next person, want instant gratification.  We want our food quick, our lattes quick, the line we are standing in to be quick, the traffic light to change quicker, the person ahead of us to go 31mph and not 30mph, we want the words in front of our face to tell their story in three seconds or less.  Because of this we tend to skim over things - we miss things.  This is the state of our current social evolution. 

 

The moral of the post: Read. Read Everything.  Be accountable for the fine print. 

If you are one of the few to read this post in its entirety then you are likely someone who is socially responsible and accountable for yourself and I'm preaching to the choir.  This post just verified that there is someone else that sees the same problem as you do.   Kind of like an article or book written on almost any subject, it's usually those that would benefit the most from it that are likely not to read it. 

 So where do we go from here, we don't or some technological smarty pants creates an app that will rectify this social issue.  Otherwise, survival of the fittest trumps.  Those who are intuitive, aware, and READ will always have the social advantage.  All in all I enjoy being at an advantage and for now will graciously continue responding to those whose social intuitiveness has fallen wayside to simplicity.  Thanks for reading. 

:-) (smiley face)

   

Auction Lingo: Terms & Phrases and More

 

32 Erie Street, Oswego, NY 13126

(315) 343-6530 or 236-6530

www.MCEWENAUCTIONCOMPANY.com

http://www.auctionzip.com/auctioneer/mcewen

http://www.facebook.com/McEwenAuctionCompany

http://pinterest.com/mcewenauction/

Twitter: @McEwenAuction

 

Auction Lingo: Terms & Phrases and More

There are some basic terms and phrases that you will here at almost every auction you attend and unless the auctioneer takes a moment to explain what they mean you may be left not knowing what you are bidding on or how much you are bidding.  There are also some basic terms associated with auctions that are important to understand when buying or selling at auction.

"Choice" or "By The Piece":  Many times like items are brought up to be sold at the same time and rather than selling all of them together to one person the auctioneer will say they are being sold By The Piece or the high bidder has Choice.  What this means is that of however many items are being sold at that moment, the high bidder will be able to choose how many and which ones they want.  For instance, if there are 5 stoneware jugs, the high bidder of $10 per jug can choose to take 1 up to all 5 for $10 a piece.  If the bidder takes less than the full amount the remaining pieces go back up and the auctioneer will ask if anyone else wants to purchase any of the remaining items for the same amount that the previous high bidder just purchased them for.  The first person to say yes will have choice of the remaining items for that same price.  The auction runner will disperse the remaining items until they are either all gone or no one wants to purchase them at that price.  If there are still items left after this then they will be brought back up to the auctioneer and bidding will begin again.  If there is more than one item left and the auctioneer is unable to get a bid for the items "by the piece" then he/she will say that they will be sold all together for "one money"...which takes us to the next phrase...

"One Money":  If you haven't figured it out already this term simply means that everything the auctioneer has up for bid at that moment is being sold all together, all for "one money".  So, if there is a tray of costume jewelry and it is being sold for "one money" then the high bidder will get everything on that tray for the highest bid amount and nothing more.

"Times the Money":  This is a term that you really want to be aware of as a bidder because if you are not paying attention and you go up to pay your bill you may be shocked by the amount.  It is not a term that is used that frequently, but it is used.  This term is used mainly to sell sets of items such as dining chairs, or related collectibles, etc.  Usually sets of things that should be sold together and not broken up.  How it works is the highest bidder will be paying the high bid amount times the total number of items.  For instance, a set of 6 dining chairs being sold "times the money", and the high bid is $20 and so the high bidder is paying $20 x 6 = $120.  The high bidder paid $20 per chair.  Also, with "times the money" the high bidder is buying all of the items not just a few.  If you accidentally buy items in this manner without realizing it there most likely is no recourse, you are expected to complete your purchase and take your items.  To avoid this make sure you are aware of how the auctioneer is selling an item or items at all given times.

"Reserve Price":  A "reserve price" is a minimum amount at which a seller is willing to sell an item for.  Reserve prices are used mostly for large value items and not for everyday household or misc. items.  You will see reserve prices on homes being auctioned because they have such high value and homeowners may want  to sell at an amount to at least pay off a mortgage, for instance.  You may also see reserve prices on jewelry, paintings, cars and things of that nature.  The auctioneer can work the bidding on a reserved priced item one of two ways, he/she may start the bid at the reserve price which lets the bidder's know right away that the item needs to start here or it will not be sold.  The other is to tell the bidder's there is a reserve price but not disclose what that price is and start the bidding and once the bidding reaches a climax the auctioneer either sells it because the reserve price was met or exceeded or tells the bidders that the reserve price is not met and try to solicit more bids or end the bidding without the item being sold.

"As Is" or "As Is Where Is":  Items being sold "as is" or "as is where is" are being sold in the state and/or condition in which you are finding them, without any guarantees.  The high bidder is buying items as they are and once purchased the items become the buyer's responsibility.  If a bidder makes a purchase and realizes after the purchase that an item is damaged or an item is not what they originally thought it was, there is no recourse, the bidder is stuck paying for the item and completing the purchase.  There are no returns at an auction.  This is why it is essential to make good use of the preview period that auction companies provide...which takes us to the next term...

"Preview": And it is as simple as the word itself, the "preview" period before the start of an auction is the time allotted for potential bidders to view items prior to bidding on them.  This is the time where you want to look over items for damage or flaws and to determine if they are in a condition which you would be willing to buy them.  Utilize preview periods because once you become the high bidder on an item there is no backing out of the purchase.  You are buying items "as is" and stating that you were unaware of damage is not an excuse for non-purchase.

"Absentee Bid":  Many times when you are attending a live auction an item may come up for bid that has an "absentee bid" which is a bid that someone has left for an item, they have indicated to the auction company the highest price they are willing to pay for that item and the auctioneer bids for that item on their behalf until they either become the high bidder and purchase the item or their maximum bid is surpassed by another bidder in the crowd.  The auctioneer will inform the crowd that there is an absentee bid for an item before the bidding begins.  Absentee bids are used when someone is unable to attend an auction and has interest in purchasing an item.  If the absentee bidder is the successful winning bid the auction company will notify them immediately or the next day and arrange for payment and pick-up of the item/s.

"Buyer's Premium”:  The buyer's premium is a charge added to your purchases by the auction company and is usually a percentage added to your total before tax.  You will sometimes see this term abbreviated BP.  The buyer's premium plays an integral part of maintaining the auction company's expenses and that is why many auction companies charge a buyer's premium though not all companies do.  Some companies will offer a discount on the buyer's premium if they pay with cash or check.  For instance, a company charges a 10% buyer's premium but if a bidder pays with cash or check they may offer a 3% discount which means you will pay a 7% buyer's premium. 

"Consignment":  Most of the items being sold at an auction are being sold on consignment.  People bring items they wish to sell to the auction company which sells the items at auction and pays the consignor after the items are sold minus the commission rate.  Auction companies will provide consignors with a consignment agreement which outlines all the terms of the sale of their items, it outlines the commission fees that will be charged for the sale of those items, and it also details other pertinent information such as is items do not sell and what will happen with those items, among other important details.  Each auction company develops their own commission rates and terms of sale for consigning items.  It's important to read the consignment agreement and fully understand the terms prior to signing it and agreeing to it.

 

Furnishing & Decorating a Home "On the Cheap" Auction Style!

 

32 Erie Street, Oswego, NY 13126

(315) 343-6530 or 236-6530

www.MCEWENAUCTIONCOMPANY.com

http://www.auctionzip.com/auctioneer/mcewen

http://www.facebook.com/McEwenAuctionCompany

http://pinterest.com/mcewenauction/

Twitter: @McEwenAuction

 

Furnishing and Decorating a Home “On the Cheap”: Auction Style

It’s not impossible to furnish an entire house for the same amount of money you may spend on a single brand new bedroom set, which you will most likely set up financing for and will ultimately cost you a few extra hundred dollars in interest.  Auctions are such a great source for so many things and furniture and home décor is especially one of them.  Many times an auction will offer full bedroom or living room sets which takes the guesswork out of finding matching pieces.  Other times you may find one or two pieces at one auction and then other matching or at least similar pieces at a different auction.  Buying a few pieces at a time can be somewhat of a daunting task, especially if you are anxious to furnish your home quickly, but it can be a huge money saver with just a bit of patience.  There is also the option of buying mismatched pieces and adding your own personal touches to make them come together in a coherent look.  For instance, you purchase multiple bedroom pieces that are all distinctively different, paint everything to match and swap out hardware and you can instantly create a matching bedroom suite.

 

Now put it into perspective, you can easily spend $1500 on a brand new bedroom set (and that’s a very conservative price) and then an additional $1000 for a mattress and box spring, you’re looking at $2500 easily to buy new.  It is completely possible to buy a full bedroom set at auction for $100-$500, or a full living room or dining room set for the same.  So, in reality you could furnish three bedrooms, a living room and a dining room for $2500 with just a little patience and a wanting to save money.  There are exceptions to this such as an auction that is selling furniture such as Stickley or Hitchcock in which case you will not be walking away paying $500 for a full set of anything.  Certain brands such as these are in high demand and buyers for those items will be paying a premium to purchase them.

There are so many options to buying furniture and décor when you are going to auctions.  It is almost limitless in possibilities because there are such a large variety of items.  Initially you may begin with an idea of how you want to decorate your home but that can evolve as you are exposed to so many choices which makes the experience that much more unique.  Unlike shopping at a furniture store where you are very limited in styles and choices, auctions provide you with an expanded selection and the only limitation is your imagination.  And you are also not limited to just furniture, you will find other décor and household needs at a very affordable price.  Mirrors, paintings & prints, rugs, linens (from bedspreads to napkins), dishes, washers & dryers, vases, desks, televisions, the list goes on and on, you can literally find everything you need at auction.  The next time you are considering buying new just take a moment to search a few auctions and see what they have to offer, you may discover exactly what you are looking for and be able to purchase those items at a cheap price and ultimately have some extra cash in savings.

Get yourself to an auction TODAY!

Auctions: A DIY’ers Ultimate Resource

32 Erie Street, Oswego, NY 13126

(315) 343-6530 / 236-6530

MCEWENAUCTIONCOMPANY.COM

http://www.auctionzip.com/auctioneer/mcewen

AUCTIONZIP.COM ID#: 31269

Auctions: A DIY’ers Ultimate Resource

DIY-Do It Yourself, an acronym which has been in common usage since the 1950’s and commonly referred to home renovations, and small art or construction projects.  DIY today has a broader interpretation and can include almost anything that is created out of sheer ingenuity.  Here’s a prime example; as flat screen televisions have replaced the older bulky televisions many households are eliminatin entertainments centers which housed those televisions. The question is, what do you do with that entertainment center?  It seems like a shame to just throw it out and no one else wants it.  Well, some ingenious person repurposed an entertainment center and turned it into a child’s play kitchen, which is pure brilliance!  DIY has become more than just fixing something or basic remodeling, it has come to include repurposing, recycling, and reusing and because of this a new era of DIY’ers has evolved.

Here is where auctions come into play.  There are many types of auctions selling everything from livestock and farm equipment to designer handbags and real estate.  There is truly something for everybody at an auction.  If you are the Do-It-Yourself’er that is remodeling a home, there’s an auction that is selling new construction materials with lumber, bathroom vanities, kitchen cabinets, and most everything else you need.  If you are the DIY’er that is making hand-painted eggs and you want those eggs to come from your own chickens, there’s an auction selling chickens.  If you make quilts only using vintage fabrics, an auction will have it.  If you turn silverware into jewelry or wind chimes, an auction is your best bet.  You name it and you can find it at an auction.  Auctionzip.com and your local auction companies are your best resources for finding auctions.  Auctionzip.com allows you to find auctions based on your zip code and the radius you select and you will be provided with all of the currently listed auctions within that radius.  Some auction companies have mailing lists and you can request to be placed on a mailing list so that you are provided with a postcard or email notifying you of upcoming auctions.

Now whether you are a DIY’er with an objective or you are a wannabe DIY’er and seek ideas for making your own creations there are numerous popular websites that have the DIY’er in mind and three of those sites are Pinterest, Etsy, and the DIY Network.  Pinterest is a website where people can post anything that is creative, innovative, enriching or as the website states, “Pinterest is a Virtual Pinboard.”  Pinterest has a DIY and Crafts category that focuses on do-it-yourself projects specifically.  Etsy is an online marketplace where only homemade items can be sold so all of the super creative DIY’ers can list and sell their items and actually make money doing what they enjoy.  The DIY Network website focuses on the larger scale do-it-yourself projects that are much more involved like complete home renovations including plumbing, electrical, etc.

Whatever your level of DIY ambition is, auctions are your ultimate resource to complete those projects.  Auctions are plentiful and full of items that you can buy at a great price.  Part of being a DIY’er is that you are taking on a project that you have a personal investment in and when you finally complete it, it is a great feeling of accomplishment.  Look for auctions today so that tomorrow you are one step closer to that accomplishment.

 

Auctions 101: For Those Who've Never Been To An Auction

 

32 Erie Street, Oswego, NY 13126
(315) 343-6530 or 236-6530
Corrina Pauldine: Owner / Auctioneer

www.MCEWENAUCTIONCOMPANY.com

http://www.auctionzip.com/auctioneer/mcewen http://www.facebook.com/mcewenauctioncompany

Auctions 101: For Those Who’ve Never Been To An Auction

There are many people who have never attended an auction, if you are one of these people just know you are not alone.  Here are the basics of what you can expect when going to an auction.

An Event
First of all, auctions are an all encompassing event.  They are a place where people can go to purchase items quickly and many times at a great price.  Auctions are also a social event, many attendees go just to socialize with each other.  Many people who frequent auctions get to know one another and going to an auction becomes part of their social lives.  Auctions are also entertaining from the “fast talking” auctioneer who’ll insert jokes here and there to the excitement of people bidding against each other and ultimately there’s only one buyer.  There is also the food, some attendees may go just to get there afternoon lunch or evening dinner.  Some auction halls serve delicious homemade meals and desserts, like homemade pies.  Other auction halls may offer a variety of packaged snacks, coffee, and soda.  Overall, the experience of an auction is exciting and just a wonderful place to socialize and buy some great stuff!

Finding an Auction
The majority of auctions are open to the public meaning anyone can go and buy items.  Auctions most likely not open to the public are auto auctions or very high end auctions selling very pricey items.  The main sources for finding auctions are in your local or regional newspapers and online.  Newspaper ads will give you the location, date, time and brief description of items available at an auction.  Many auction companies now have websites where you can find a full and more descriptive listing of upcoming auctions which also include photos of the items to be sold.  A useful online site both for auction companies and people looking for auctions is auctionzip.com.  This a website utilized by most auction companies and they can list all of their upcoming auctions and include descriptions and photos.  Auctionzip.com is a great source for auctions and its free--for everyone!

On First Arrival
You've decided on the auction you'd like to attend and you go.  Keep in mind that most auctions allow for a 1 to 1 1/2 hr preview time.  Utilize this preview time to thoroughly inspect the items you are interested in and decide how much you are willing to spend on those items.  If you arrive after the preview time you will have lost the ability to preview items.  Most auction companies do not allow any further previewing once the auction begins so be sure to allow yourself time to arrive and preview. 

You are under no obligation to purchase items when you attend an auction.  You may decide after inspection that your no longer interested and in that case you can just leave.  If you find that there are items you want to purchase then you need to register as a bidder and be given a bid card.  The auction will have a specified place for you to check-in and register as a bidder.  You will be asked for a photo i.d. (driver's license, military i.d., etc.) and your data will be inputted into their system (if they are computerized, which most auction companies are).  Once they have all of your information they will give you a bid card with a number on it.  That number identifies you as a bidder and when you make a purchase and are the high bidder on an item that number is inputted into the system along with the price of the item. 

Many times your bid card will have an area to write notes, use this area to write down "lot #'s" of the items you are interested in.  The auctioneer will call out the lot # for each item that is currently being sold which helps you know when the item you want is up for bid.  Sometimes an auction may have multiples of similar items and when you are sitting in your seat it can be difficult to identify if the item you are interested in is the one currently being sold so this is where knowing the lot # becomes a useful tool.

The Auction Begins
The preview is over, everyone takes their seat and the auction begins.  The auctioneer will start by stating the Terms & Conditions of the auction which explains what forms of payments they accept, he/she will state that items are sold "as is, where is", among other pertinent terms and conditions of the sale of the items.  Once this is complete the auctioneer will begin selling items.  The auction runners will then begin to bring items up one by one.  The auctioneer will call out the lot # of the item, the auction runner will hold the item up so it can be seen by the crowd and then the auctioneer will start with a bid amount he/she deems as an appropriate price to start the item for.  Once a bid is received the auctioneer will go to the next increment and look for a competitive bidder in the crowd.  Auctioneers will vary the increments of an item based on the item.  E.g. a cheaper item that may ultimately only sell for $10 and starts at $1, the auctioneer may go in $1 increments.  An item that could potentially sell for $100 and starts at $50 may go in $5 increments.  It all depends on the item and what the auctioneer chooses to do.

Your Turn To Bid
You've waited patiently and the first item you are interested in has come up for bid.  You have your bid card in hand, you've made a mental note of how much you are willing to spend on that item and the auctioneer starts the bidding.  You can immediately put up your card to get your bid in or, as many people do, wait until the auctioneer lowers the opening bid then put your bid card up.  What happens the majority of the time is the auctioneer will start at a certain price and all of the bidders will hold out on bidding, so the auctioneer then decreases the opening bid amount until he/she gets the first bid.  If you hold out too long you could potentially put yourself in a position where there are multiple bidders at the same time and the auctioneer must choose who gets the initial bid and if it is not you then you will be offered the item at the next increment.  When bidding,  put your card up when the auctioneer is at the increment you want to bid at and once the auctioneer recognizes your bid put your bid card down. 

You will know that the auctioneer has your bid because he/she may make eye contact with you or point at you or a combination of both--in most cases it will be obvious when the auctioneer has your bid.  A possible scenario in which you may not realize if the auctioneer has your bid is when a competing bidder is sitting in close proximity to you, in which case the auctioneer will use eye contact to let you know that you are either the high bidder or the auctioneer may be asking you if you want to go to the next increment.  Be attentive to the auctioneers body language so that you can determine where you are in the bidding process. 

The item you want is still being bid on and there are multiple bidders.  Listen to the auctioneer to know what the increments are and if you are outbid and the item has not reached your limit then be sure to get your bid card up making sure the auctioneer gets your bid. Keep bidding until you either win the item or the item has exceeded your limit and someone else becomes the high bidder.  If you are the bidder the auctioneer will say SOLD and indicate to you that you are the winning bidder and once he/she does this, hold up your bid card and the auctioneer will then call out your bid number so that the clerk can input it into the system along with the selling price.

The Auction Is Over
You've stayed for the entirety of the auction and won the bids on multiple items and now it's time to check-out.  Take your bid card to the cashier, they will pull up an invoice of all the purchased items associated with your bid card and then take your payment.  The majority of auction companies require a paid in full receipt to be shown to the auction workers prior to removing items from the auction.  Be sure to keep your paid receipt handy to show the workers if requested, load up your items and head back home!  It's that easy, it's that much fun, and once you go to an auction you'll want to keep going!

FYI...you do not have to stay for the entire auction.  If you've purchased all of the items you came for then you can go to the cashier and check-out anytime during the auction.  If you have registered as a bidder and did not make any purchases you do not need to return to the cashier, you can just leave.
 
Homework
Get on Auctionzip.com or check out your local newspapers and get yourself to an auction!