Step 9: (Optional) Divide the items to be auctioned into lots.
You will auction these lots one after the other within a short period of time, say a few hours, days, or weeks.
Here's why dividing items into lots is often a good idea:
For tax reporting purposes, it sometimes makes sense to separate personal effects with sentimental value from those with high appraised values. Auctioning them in separate lots helps do that.
Sometimes it takes one or two rounds of bidding before all of the bidders get the hang of it.
It prevents bidders from getting in over their heads, since they can see some of what they've won before bidding on more items.
A bidder might want, say, just one of two TV sets on your list. If they're both auctioned at the same time, the bidder might inadvertently win both sets.
Put less important items in the first lot to be auctioned. Bidders are more likely to make mistakes in that first round.
Put similar items into different lots. For example, if you are giving away two TVs, put them in separate lots so that the bidders don't have to bid on two TVs when they only want one.
Example: The Sniders have divided their list into two lots.
Go to Step 10
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Copyright © 2004 Lori Alden. All rights reserved.