Since I had so much fun at last week’s antique auction, I went for a different kind of auction today – a house auction.
The weather was miserable; cold, rainy, windy… but my heart was pumping!
An auction is not a joke; it’s a contract. The winner is required to put 20% down the day of auction and pay the balance within a month. The house will be sold in as-is condition.
I wasn’t afraid (okay, I was feeling nervous silently). I was prepared. I’ve done my homework.
Before the auction, I hired an inspector to inspect the house and checked out the neighborhood. I observed the bidding process and studied buyers’ bidding behavior at previous auctions.
I have a budget in mind. Well, I was bidding on behalf of a company, so I was given a specific budget to work with.
There were quite a few people showed up (some investors, some private buyers, some curious people) at the auction. It was hard to tell who was serious and who wasn’t. I walked around the house and didn’t ‘overhear’ any useful information. 🙁
You should never let other people know about your budget, especially the auctioneer. Auctioneer works for the seller. He wants the bid to go as high as possible because he will receive a commission based on the sale price. You lose if you show your number first.
The bidding began. My heart was racing at high speed, but I couldn’t show. I had to be patient.
I paced myself on my bidding and became aggressive when I needed.
Long story short, I won the bid, on budget. Sold!!!! Oh man, I had such an adrenalin rush.
So proud of myself and I gave myself a big pat on my back. :kehappy:
Despite of the ‘better stay home’ weather, some friends showed up to give me some support. Thank You, Thank You!!!
Another day, another crazy OuOu story. Now, off to the next project.
Remember, Thoughts Become Things.
Good night.
