Yesterday we held an auction on some 30 electrical items. This is my first time attending and participating in an auction. It was great! The first few items were going for a real steal, just about half the retail price. I was the one who arranged the sequence of the items to be auctioned and next time I know to put all my favourite things right at the start.
People hadn't warmed up to the idea of the auction and were cautious. Later on, the bidding was a frenzy and items were sold at more than 70% of the original price, which is still worth it if you're already thinking of getting the item. Since all the items were "nice to haves", I gave up after a while. But we were all having fun.
Best part was, I knew all the original prices and what came next. So I knew what price ceiling I should stop at right from the start.
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