As a result, you end up saving enough cash to store the auction. You are eager to buy your first device and plan to do so anyway. When you pass through the crowd of storage facilities, you will be sure that no one will overtake you. But wait - do you know who the whale was at this auction? Have you just heard someone talking about a phantom bid? Is there another new blood that can compete? Better... Do you even know what it means?
If not, grab your horse! If you want to walk, you have to talk. Over time, the auction site has become a subculture, and like all good subcultures, bidders and auctioneers have developed slang and passwords. Knowing their language is essential to success.
Look around. Feel the crowd. listen. Hear people's comments on other bidders, units and auctioneers. Here are some phrases you can listen to in the next auction, which may save your career.
Caravan Auction - A series of website auctions that are advertised through co-promotional campaigns. Caravans are usually led by the same auctioneer who will lead the "caravan" to different unit facilities throughout the day. Find out if the auction you are participating in is a caravan - you may have the opportunity to visit multiple facilities on the same day!
"Fair Warning" - If you hear the auctioneer say this, then listen: If you didn't bid on the device and hope to do it now! The auctioneer is about to end the bid and reminds you that he/she has given you a "fair warning" before this.
Jump Bid - The bid is much higher than the previous bid. Usually employed by serious bidders, they want others to know that they mean business.
Looky-loos - A person who auctions purely for viewing, has no intention of bidding. Looky-loos is frustrating for both auction houses and auctioneers because they crowd the space and make it harder for potential bidders to see the units. Due to the booming storage auction reality show, the number of looky-loos in the current era has increased.
Fresh blood - novice; an unfamiliar person. Don't underestimate the fresh blood, they can be as intense as the season professional players, because they try to prove their value among other bidders and occupy a place in the business.
Pickin" bid / phantom bid - A non-existent bid convened by the auctioneer to arouse the interest of the bidder. Please note - this strategy is considered inappropriate and illegal in many jurisdictions.
Quarter/"Gimme Quarter..." - No, the unit does not sell for 25 cents. The auctioneer can call the $25 bid a quarter. "Gimme two quarters" clearly means $50.
Shilling/Shilling - A bid; a bidder who is working for an auctioneer to raise the bid. Pay attention to this. Ask around for inside information. Does the auctioneer profit from the units sold or get a fixed salary? Know your crows and, more importantly, get to know your auctioneer.
Staged - related to the storage unit, which describes the units that have been tampered with before the auction. Interested items may have been placed in front to attract bidders such as electronics, branded wallets and more. Find the signs of a staged auction by destroying the dust lens or smashing, almost perfect look settings. locker room.
Valuation - Estimate the value of an item or an entire storage unit. After enough auctions and research, the assessment will become easier. Valuation is very important when deciding what the unit's maximum bid should be. Obviously, if the bid is higher than your valuation, you should go out.
Whales - experienced buyers who often attend auctions. You may point out whales very quickly, and many people may be talking about them. If they look at one unit, they are usually difficult to bid, and it is likely that there will be a lot of cash to burn!
"You are out!" - The strategy used by the auctioneer after bidding. Auctioneers often interact with buyers in this way to drive further bidding.
Do you feel comfortable? Try some of them and see how they feel! Who knows, you might be impressed with other fresh blood and whales in the next auction.
For some of the more exciting auctions and some of the sentences in this article, check out Paul Dickson's "Slang: Americanism Dictionary."
Orignal From: A lesson in "Auctionese": Learn to talk in a store auction
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