You have your auction catalog. Perusing carefully, you notice many items that you would like to add to your collection. Understanding it to be an auction that you can attend in person, what should you do to prepare?

First, read the TERMS AND CONDITIONS carefully. These are the "rules" you will be legally obligated to accept if you bid. If you have questions, call the auction firm PRIOR to the sale for additional clarification. If everything is acceptable, then do some research. Try to gather as much information as time allows on the stamps you want to bid on. Check the trade publications (Linn's, Stamp Collector, etc) to see if you can locate an offer to sell on the items you will bid on. Many auction sites on the internet list their sale catalogs and prices realized; check these results. If you have pricelists from dealers in your possession, see if they offer the same item - quality being equal - and what their asking price is. This should give you an idea of what the "fair market price" of the stamp will be.

Most auctions will list the viewing times. If the listed times are not convenient for you, call the auction firm. It is likely they can accommodate a request to view outside of the times listed in the catalog. When viewing stamps (or any item at auction) ask what the ground rules are. For example, can you remove an item from its mount or should an auction firm employee handle it; can you "dip" the stamp to check for possible hidden faults, etc. REMEMBER that you are handling other people's property, so treat it with care.

You have viewed the lots and registered to get a bidder #.

Concerning opening bids. These numbers can change during the course of an auction by "OR" or "LIMIT" mail bids. If a mail bidder reaches his spending limit any subsequent bids are voided. The same with "OR" bidders; if they get their first lot, the second bid is voided. Don't always cross off your bid if it below the openers - you just may be able to get the lot after the opener has dropped.

Now that you have a few minutes before the auction begins, go over your bids and give the lots a priority. For example, lot 279 is one you would like, but not critical. Make a note that your bid is firm meaning you will not bid higher regardless of the circumstances (to break a tie, your most hated competitor is bidding against you, etc) then STICK TO IT. Lot 329 is one you really like so put a "+" after the bid to indicate you may go an another increment or two to get the lot. It is best to make these decisions before the auction as you won't have time during the auction to procrastinate.

At the start of the auction the auctioneer will make some general announcements and possibly some changes to lots status (withdrawn, description errors, etc). Now the auction will start. NOTE: The auctioneer has sole discretion to settle any bidding disputes that may arise including reopening a lot if some confusion is evident. This is rare, but it can happen.

OK. the auctioneer is about to offer a lot you want to bid on. The excitement begins! Your palms start to sweat and your heart starts to race. When bidding, make sure the auctioneer sees that you are bidding. Raise your hand with the bidder # card facing the auctioneer. Things like a tug on the earlobe, a blink of the left eye, a raising of an eyebrow to indicate bidding are fine for Hollywood - but not for real life. If you are the successful high bidder, mark the bid amount in your catalog as a double check when you pick up your lots after the auction.