Auctions

Going to auctions is something I have done with my Dad for a long time. When I was little, we often went to horse auctions since we owned horses. I remember the loud, late nights and often getting really tired and bored. I never knew what was going on or what the auctioneer was saying but everyone seemed to be into the event.
Lately, we have been attending estate and local town auctions and it's been a blast! Not only are they a great place to socialize, but if you know what you are looking for you can find some great deals.
Last night I had the opportunity to attend an auction with my parents and I actually got an AWESOME deal. Before it started I had eyed some really old books, and knowing that both Warren and I enjoyed them, I knew I would make a bid. I did not think to eBay the books before the auction started (note to self, always take your smart phone and use it if considering a large purchase), so I had a hard time trying to decide what my limit would be.
As the event went on I waited patiently for the books to come up and I did not see them in the line up anytime soon. I had discussed with my Dad how much I was willing to pay should the books come up and I stepped away to go get a snack. And what do you know...they came up for sale as I was away.
I came back and there they were, all 3 of them, laying on my seat. I asked how much we got them for and he told me got all of them for $7.50. That's not a bad deal at all!
It was just my Dad and one other lady bidding on the books and she backed out when she thought that two of the books were the same and was planning to offer me $5 for one of them. This time I thought about it a little before I took the offer and stepped outside to check their prices on eBay.
Now before I go any farther, it is important to know that all of the books were printed prior to 1899, two were printed before copyright dates.
So I was only able to find two of the three on eBay, and the cheapest one was $40 and the other was $50.
Needless to say, I did not sell the book for $5. I hate that she stepped out with the hope of buying one, but for those prices, I just couldn't let them go.
Maybe one day, they will actually be worth something and my future children will be able to reap the profit off the purchase. With the way things are going now, physical books will be rare by the time we have children, especially those who are old enough to read and enjoy them.

Tips for the Auction:
Auctions are something that can be a lot of fun and a place to find good deals. I would caution you, though, to have a plan before you go. Know exactly how much you are willing to spend period before you go. Also, don't forget that in addition to the state sales tax, there is usually also a 10% buyers fee with it, so in KY that will bring the tax up to 16%. So if you are willing to spend X amount on something you need to also figure in the higher taxes. Also, no matter how "antique" or "valuable" something is, it's only worth what someone will pay for it. Finally, if you are going for a specific piece make sure you do your research. Find our how much that particular item sells for, how to tell if it's authentic, and decide if it's worth it. But don't forget, it's easy to get carried away once it get's going, especially when you see someone who's determined to out bid you....you have to have self control and you have to be able to tell yourself that the deal will come back around again.