Auctions 101: A Complete Guide to Buy & Bid on Vintage Video Games (2023)
Auctions have been around for centuries, and they’ve been used to sell everything from art to video games to 1st edition base set charizard cards. Auctions are one of the oldest forms of commerce still in use today. While buying items at auctions isn’t always as simple as making a bid and going home with what you paid, there’s no doubt that auctions can be an effective way to get great deals on rare merchandise.
Auctions are an excellent way to buy vintage video games, but they can be intimidating if you’re new to online auctions. This guide will explain everything you need to know about buying and bidding on a vintage video game at auction.
Types of Auctions
Auctions come in three main varieties: live, online, and mail auctions. Each type has its pros and cons.
- Live auctions are the most traditional kind of auction. They’re held in a physical location and open for everyone to attend at the scheduled time.
- Online auctions offer a similar experience to live auctions. However, they get conducted over the internet instead of in person or over the phone. You can view listings on multiple sites or even create your auction site if you have an extensive collection of video games that need to be sold off!
- Mail auctions are just like they sound, using email as their primary communication between bidders, sellers, and other interested parties.
How to Buy & Bid on Vintage Video Games at Auctions?
If you’re looking to get a good deal at an auction, there are some things you should know before making a purchase. Here are the five most essential tips for buying auctions:
- Know What You’re Getting: Sports auctions can be a lot of fun, but they require some prep work. Before going to an auction, make sure you know what items will be up for bid. If you’re looking for something specific, research to see whether any auctions near you have those items on offer.
- Do Your Research: Auctions are a great way to get deals, but only if you know what you’re doing. Before buying anything at an auction, research the item’s value to know how much to bid on it.
If you’re looking to buy an item at auction, ask yourself if there’s any way it could be worth more than what they’re asking for. If you think so, make a bid higher than the asking price.
- Setting a Budget: Auctions can be fun, but they’re also expensive to get great deals on merchandise. Before heading to an auction, ensure you have enough money in your budget to cover whatever you buy there. If you’re unsure how much things will cost at the auction, talk with the organizers beforehand so they can give you some idea of what items might go for.
- Get There Early: If you’re looking for a great deal on rare items, then getting to an auction early is a must. When most people arrive at an auction, they’ll be ready to bid on whatever catches their eye first. If you get there earlier and see what’s available before anyone else, you’ll have a better chance of getting the best deals on everything. When most people arrive at an auction, they’ll be ready to bid on whatever catches their eye first.
- Know Your Stuff: If you’re looking for a specific type of item, then research it before heading to an auction. If you know what’s rare and valuable in that area, then you’ll be able to spot it when someone else brings it in and won’t miss out on getting a great deal.
You can buy and bid on vintage video games at live or online auctions. If you are looking for an auctioneer to handle your auction needs, there are several things that you should consider before hiring one:
- How Long Have They Been in Business?
- Do They Specialize in the Type of Items Sold at the Auction?
- Do Both State and Local Authorities Fully License Their Business?
- What is Their Starting Bid Price Range for Each Item Available for Sale?
End Note
However, if you participate in an auction – live or online – the goal remains the same: You want to win! It means researching what items are being sold so that if something catches your eye (you know, that classic game console), then make sure you’re ready with a bid when it comes time for those bids to be placed!
