Attending an auction can result in some terrific bargains but also can be quite an entertaining day out too. It has been said that the difference between attending an auction and having a flutter at the 'bookies' (betting shop) is that with an auction, if you walk away empty handed you're not out of pocket. The excitement of bidding is as thrilling as having a bet on the horses!

To ensure that you have a great day out, you should prepare yourself first. I have outlined a few things you might like to bear in mind first before you to attend any auction,

Before travelling any great distance to the auction, make sure you know exactly where the auction is being held and also it would be a good idea to take a copy of the catalogue with you. Contacting the auction by phone well before the auction normally ensures that you get a catalogue well in advance. However, some of the auctioneers don't produce the catalogue until a couple of days before.

Always have a back up plan. If you don't have a catalogue and somehow the auctioneers are not selling the sort of stuff that you want, make sure your day isn't wasted and do some sightseeing instead. It is always a good idea in case the auction is cancelled for whatever reason or you even get the auction dates wrong (it does happen, believe me!). It would be prudent to phone up on the day of the auction to make sure so a contact telephone number is always handy. There are a number of places where you can get hold of Auctioneer listings from the internet and just print them out or even visit the Yellow Pages website.

When you arrive at the auction, make sure you're early. This will give you time to inspect the items closely and see if there are any defects. If so, are these acceptable, can they be easily fixed or will the item be totally useless.

When bidding for an item, make sure you set yourself an upper limit as to what you are willing to pay and don't go over it. This is where there's a similarity between auctions and gambling. If you don't set yourself a limit and just keep bidding until you 'win' then you may find that you have paid too much for the item and would have been better buying it from a local shop. I can't stress this important factor strongly enough. Set yourself an upper limit as to the maximum you are willing to pay and then stick to it.

When setting this upper limit you will need to allow for what is called a 'Buyers Premium' and any VAT. Your catalogue should state this clearly. If not, speak to the auctioneer and find out before the auction.

The other thing to note is that the catalogues can vary. For example, certain items may be withdrawn from the sale at moments notice or other items can be included at the last minute.