Office furniture auctions are a great way to save money. The furniture comes from business liquidations, surplus supply, government building, and other sources. It’s a great way to get good condition equipment well below value. In the article below I will discuss where to find one, how they work, and some tips for success. I will also share my experience with the office furniture auctions near me.
Map of Office Furniture Auctions Near Me
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What Is An Office Furniture Auction?
An office furniture auction is an event where office furniture is sold to potential buyers who bid amongst themselves to secure the purchase of the office furniture. Office furniture auctions are popular because you can make good deals on second-hand furniture in good shape.
You can find chairs, desks, tables, cubicle walls, white boards, supplies, signage, and even devices like printers, phones, and computers. At the office furniture auctions near me, you can find anything office related.
How the Office Furniture Auctions Near Me Work…
Usually, before the beginning of an auction, the bidders are given some time to have a close look at and, in some cases, inspect the office furniture on sale and make up their minds. This time is known as the preview period, and it is usually the evening before the auction day.
In other cases, it is done on the day of the auction, a few hours before the actual auction. After the preview period, all bidders are expected to have made up their minds about the items they are interested in. Bidders who express interest will then register their intention to bid with the auctioneer, and then they will be given a card that will be used to identify them during the auction.
The auction begins at the sound of a bell by the auctioneer. This is meant to draw the attention of the bidders to indicate that bidding is about to start. During the auction, each item is described, and then an opening price is set by the auctioneer.
The seller has a minimum bid price in other instances, and the auctioneer will start with that price instead. Once the opening price is set, bids are welcome from any bidder who wants the item. The bid comes to a close when no one else is willing to bid more than the current bid that is the highest. When the bidding war starts, you will have to raise your card to be identified. Once you pay your bid price, the item is yours.
Why Should You Be Part Of An Office Furniture Auction?
Getting new office furniture can be very expensive, and if you are looking to save some money, an auction is a way to go. You can obtain quality office furniture in good shape at an office furniture auction if you know how to bid and what to look out for.
These events are ideal for startups, businesses looking to scale, and commercial real estate companies. You can get a lot of furniture at once and save a lot of money.
Where Does The Furniture Come From?
The inventory sources of an office furniture auction are from several places, such as private companies, government agencies, manufacturers who are looking to sell off products, liquidators, and many more.
Things To Note When Bidding For Office Furniture
Know The Rules
Before participating in any auction, you must know the auction type and the rules as there are different kinds of auctions. If you fail to understand the rules of an auction, you may end up with a bad deal. Make it a point to learn these rules and know how sales tax is added after successfully making your bid.
You should even know how transport will be done at the conclusion. It may not be a big deal if you are buying a chair, but how will 100 chairs and desks be delivered. Who pays the freight?
Know Precisely What You Want
Sellers and auctioneers are eager to sell the items, so the onus is on you to carefully inspect the items for the auction and know what you are interested in. If you are satisfied with their condition, then you can go ahead and bid for them.
Don’t Buy To Fix-Up
You are at an auction to make a good deal, but if you want to save too much money, you will end up making a bad deal. It is advisable to buy office furniture in good condition that you can use at once. Do not buy office furniture that you have to repair or restore. You may end up spending more money than you envisioned.
Bidding Tips I Use At Office Furniture Auctions Near Me
The bidding process is exciting, and you can get carried away in the moment and even make impulse buys that you did not budget for. In this part of the article, you shall learn some bidding tips that will enable you to make the best bidding deals.
Know The Auction type
Familiarize yourself with the type of auction and know the rules, regulations, terms, and conditions of the auction. Also, learn to ask questions such as payment options, sales tax, and others before the auction starts.
Research Up Front and Stick To Your Budget
My best advice is to take notes pre-auction. Write down any questions you have so you can remember them during the preview period. Make a point to research online what these items go for used on classified sites. It’s your job to assess the actual value. Jot down your high and low bid for each item so you have a plan. That will help you stick to your budget.
During the preview period, you may have already noticed what items you want to get and created a budget for them. Do not get caught in a bidding war unless it is for an item you want. Make sure the item is within your budget. Stick to what you wrote down.
Pay Attention To Detail
Before an item is auctioned, it will be described by the auctioneer. In the description, the item’s condition will be mentioned, and if you pay attention to detail, you may catch some things you may have missed during your inspection in the preview period. This extra information will let you know if you are making a good deal or not.
Where To Find Office Furniture Auctions Near Me
Auctions can be held anywhere, but they often occur at auction houses, estates, and other sites but recently, many auctions happen online. So you can search for auctions online, look out for notices in papers, or you can register with auction houses to get notified of auction dates.
Office Furniture Auctions Near Me – Conclusion
Office furniture auctions are awesome events that you can load up in business equipment and save money. These are ideal places to go if you have startup, are trying to scale, or need to stage an office. While many of these have moved online, there are still live public auctions. The advantage there is that you can really inspect the lots before you did on them. That is my experience with the office furniture auctions near me.