Business Is Good… For Auctions

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There's one business that's booming today... auctions. Can one person's loss be your gain?

The auction industry is on the rise… bad if you’re a bankrupt business, good if you make your living as an auctioneer.

“It’s jumped up about 50% and we anticipate it going up even further.”
-Eric Rubin, Moecker Auctions

So here is one guy who’s not laying off. In fact he recently hired three more employees just to keep up.

“Where we used to do one or two auctions a month, we are doing one a week and sometimes even more.”
-Eric Rubin, Moecker Auctions

Moecker Auctions specializes in liquidation sales. In other words, selling off what remains when a business goes bust. They’re doing well and so are some of the people doing the bidding.

“There’s deals to be had for sure. That’s why we’re all here.”
-Eric Rubin, Moecker Auctions

“A lot of times you can save 90% and sometimes even 95%.”
-Jose Abreu, Auction Buyer

In fact, some people make a living attending auctions. Others make extra cash. But before you decided to join their ranks, here are some tips.

First and foremost, attend a few auctions without bidding to get a feel for how it works. Next, research first this is no place to be uninformed. And that leads to tip number three. Whenever you attend any kind of auction, always have a budget and never go over it.

“When you go one against each other and try to fight for an item sometimes the price goes way up and that’s really dangerous.”
-Jose Abreu, Auction Buyer

Dangerous because it could start a bidding war and next thing you know, your profits are going going gone. Still if you follow the simple rules of auctions you might have some fun and you could make a little money.

Stacy Johnson

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