Auctions are fun
We were at a Hospice charity auction over the weekend. I had some money in the budget designated for charity and hospice is a good cause (they help take care of people during their final days).
There was a TV that I wanted on the auction block. The auctioneer started at $500 (way too high) and worked his way down. I finally bid at $100, the bidding went up and stalled around $200. Since my stopping point was $350, I was excited at this point. But, at the last second, another bid, and it eventually made it to $350, which I bid, and noone else did.
It was really exciting. When I hear of people paying way too much in auctions, I now understand why. As I sit there at $350, I was thinking “I’ve got to win!” During the auction my steadfast cap of $350 eroded. Add to this the charity angle (which I definitely overpaid for the TV, but after tax deductions and the good cause factor - it was fine), I don’t know if $400 would have stopped me.
The lesson is make sure you are completely confident when you go to an auction. And what helps your confidence? Alcohol.
Filed by niekamp10 at February 18th, 2008 under Website