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If you are thinking about starting up your own business, or if you are in the early stages of doing so, one of your primary considerations might be budget and finding ways to cut costs to suit yours. Starting a business isn’t necessarily as expensive as it used to be, but it is easy to get carried away or to underestimate how much money you realistically need. It’s all too common to find costs starting to spiral before you’ve even begun to make money, and for many new businesses, this can mean that they don’t stand a chance of making their company a success.
An easy way to save money at the start of any businesses is buying second-hand. Even if your business is home-based, you might need things like office furniture, computers and packing materials and equipment. You might also need some machinery if your business is based around making and selling a product. If you are hiring a premises’, you’ll need even more. Auctions can be the perfect way to get a great deal on your business needs, for a fantastic price.
But, if you’ve never been to an auction before, it can all be a little overwhelming, and you can find that you either spend too much or miss out on the best deals. Here are some tips to help you.
Do Your Research
Not all auctions are the same. They work differently, they specialise in different goods, and they attract a different crowd. Some, like wsm auctioneers, are online only, whereas others require attendance. Take your time to check online and look at websites. Don’t waste your time attending or even watching auctions online, if there’s no chance of getting what you need from them.
Set Yourself a Budget
We’ve all sat bidding for things on eBay, feeling like we’re playing a game and trying our hardest to win. This can be a dangerous attitude which sees you massively overspend. Go into an auction knowing exactly how much you’ve got to spend, and don’t let yourself go over this strict budget.
Only Buy What You Need
Remember, it’s not a good deal if you don’t need it, and you wouldn’t normally have bought it. Not buying something at all, is significantly cheaper than paying for something that you wouldn’t normally have bought.
Go in with a list of things that you need, and if anything else catches your eye, ask yourself if you really need it and if you can afford it.
Check the Payment Terms Beforehand
Check online to see what kind of payment the auction house accept, and for any terms of sale. You don’t want to go in unprepared to find that you can’t pay for anything that you might win on the day.
Attend the Preview
Looking through a catalogue isn’t enough to get a feel for an item. Attend the preview, inspect the goods, consider how much any repairs might cost, and use this information to make an informed decision about what you want to bid on and how much you are willing to spend.