Waiting vs. Buying

Patience. Sometimes, you just have to have it when you're searching for a particular item secondhand. You can be an incredibly determined individual and still have a lot of trouble tracking down something specific through auctions, flea markets, garage sales and thrift stores. Occasionally, though, especially at auctions where you must make snap decisions, you'll come across an item you've been looking for that's priced differently than you'd expected to pay. Here are some of the key points on waiting vs. buying right away.

People are in a dilemma of waiting or buying.

Waiting makes the eventual find and purchase more special. If you don't jump on the first overpriced opportunity you find to round out your collection of model cars, you will get to engage in the hunt, and that process can be fun and rewarding when you finally do stumble upon a great deal and take the item home with you. Waiting until an item is more in your price range also forces you to evaluate whether or not you really want the item, making it more treasured when you do buy it because you know you want it around.

Buying saves you time and energy. Spend several weekends in a row looking for one thing, and you'll realize that time and energy are resources just as much as money is. If you buy now, you can put your future weekends towards other projects: finally fixing the garage door, attending a meeting of fellow collectors, spending time with your spouse and children. If the money you expected to spend is unreasonable, buying now can be the way to overcome your tightwadness and move on.

Waiting takes time. As mentioned above, buying saves you time, and waiting takes it. If you're hoping to do something with the item you're trying to hunt down -- display the entire collection at your local library for the new year, or put it to use on projects you had neglected due to lack of proper equipment -- then you may not have the time to waste on waiting to find another, more reasonably priced version. Take that into consideration when you are pondering whether to wait or buy.

Buying now will (almost) inevitably enact Murphy's law. Murphy's law isn't a real concept, but it's essentially the idea that anything that can go wrong, will go wrong. It's not guaranteed to happen, but it seems that many people who go ahead and pay the higher price will stumble across something more reasonable the next day. If you're truly afraid of this happening, auctions and bidding may not be for you in the first place!  

Check out garage sales as another option for finding the items you need!




Comments (16) -

Marchie Montero
Marchie Montero
2/13/2013 9:18:44 AM #

Food for thought... I'm a new auction enthusiast and What would be recommended if I go to these events... For a beginner, should I go alone? Go with my two or three guys or join a group to an auction... Gladly appreciate your[quote][/quote] suggestions, Thanks!!!

Jerrry Lucena
Jerrry Lucena
2/13/2013 9:21:56 AM #

I've watched this show on the internet, it's called "American Pickers." I just thought you should go check it out. It about two guys going around America finding gold in someone else's garbage. You could pick up a couple of tips about auctioning and even simple things you could use like bargaining to get the lowest price possible. Your Welcome Laughing

chanlder atkins
chanlder atkins
2/13/2013 9:48:47 AM #

Having doubts about buying or waiting? Been there, done that. Waiting is just a plain concept if your not an auctioneer. Waiting patiently could be hard at times you know. When you know that you've really want go after that particular object but your not sure if your making the right decision at the moment. Another problem with be having a strict budget since your limited to the objects you could go for. Learning to play your cards right takes time and experience especially when your in a room full of people ranging from beginners to experts all going at each other to get the best items with right prices.

Edward Harris
Edward Harris
2/15/2013 3:15:51 AM #

Jerry, I've also watched that show your talking about. Been an auctioneer for a couple of months now. Clearly, I'm not a perfect fit for this profession since I have an issue on waiting for the right moment to bid. I go with the principle of "Strike while the iron is hot." I grab the opportunity immediately once it presents itself especially in auctioning. I try to intimidate my competitors right away to send a clear message that I want this thing badly.

Bobby  Stewart
Bobby Stewart
2/15/2013 3:25:18 AM #

Murphy's Law is just plain terrible. How could such thing exist that stipulates - anything that can go wrong, will go wrong. It will just put a negative perception and is not exactly a recipe for success. How could you improve if you're always afraid to take your chances and always play safe. You truly know that you're doing something new if you're failing, if your not, then you need to change and start something new. DAre to Fail, it's what makes you a stronger person and a better bidder

Ed Seco
Ed Seco
2/16/2013 10:48:34 AM #

waiting makes the item more special. because you will want it more, you will crave for it and sometimes it feels like you are going crazy over the item you want to pick.

Debra
Debra
2/18/2013 11:47:01 AM #

Marchie, I think you should have someone with you to help you and orient you  through how things work. It would not hurt if you ask for help from someone who has experience and background who could teach you a thing or two. You could read more articles in this blog to get more tips to be successful in auctions. You're welcome!

Cedric Chester
Cedric Chester
2/18/2013 1:00:17 PM #

Marchie? It's okay if you're to start either by going alone or having a partner or group with you. If you're going alone, you can gauge yourself on how ready are you, what points to work on, which things you need to keep up and so on. Committing mistakes is part of the learning process and you should be happy because that means your doing something new. There's always two sides of a coin, look at it with a positive perspective. By having mistakes, you learn from them and become a better auctioneer, "you may not be at there yet but you're one step closer, than you were yesterday, to achieving that goal." Take one day at a time, hope this helps Smile

Wendy Burrows
Wendy Burrows
2/18/2013 1:11:09 PM #

I would recommend that if you feel that this is the right time to buy an item then go for it. If you like something and you're having doubts if you're gonna regret purchasing it, then I say - buy it, JUST DO IT! Personally, regret is not part of my vocabulary...why? Becaus why would I regret something if it was what I wanted for a specific period of time. You get what i'm saying? I would not regret buying an old lampshade, even how useless it is now, it was what I wanted at that time. Follow what your heart tells you .

Alain Nallana
Alain Nallana
2/20/2013 9:01:24 AM #

Waiting works, but not for every item being sold out there. For items (you really, really want or need) that are in demand and are always out of stock, grab the opportunity to buy when it presents itself. Paying higher than expected? Weigh it in. If this is something really important to you, money should never be a problem. If not, then you can do what this article recommends. Wait.

Patrick Swift
Patrick Swift
2/22/2013 5:18:16 AM #

If you buy right away, more chances are, you're just happy or sad at that moment. A good rule is never decide on a situation if you have mixed emotions like you're angry, anxious, sad, down because you will regret making that decision. You are just making that decision because of your emotions and when it subsides, that's when reality sinks in and you realize that you've done something out of your impulse. Think twice, thrice or as many as need before acting Smile

Tobias Riggle
Tobias Riggle
2/23/2013 10:34:40 AM #

There is really no perfect moment when to bid or wait. It depends on a lot of factors like the auctioneer themselves, their money, their needs, wants and many more. Auctions are not formal events or mind bugling equations that you really need to follow a certain formula to be successful. If you want to know how to be successful then it's a combination of luck and skill. You need to have the right circumstances to be able to purchase an item and hope that other people that are interested have lower budgets than you.

A lot of things can go against you in any given day so don't give up if you fail for a couple of times because luck is not on your side. Do what you love and love what you do.

Earvin Mara
Earvin Mara
2/23/2013 10:40:52 AM #

Don't bid immediately on your chosen item. Survey the field first and get to know the bidders, if you notice that they're high bidders and you're working with a small budget then better not risk it. You can have your strategy to keep on bidding but actually your just bluffing but what if it back fires, then you spent all your money on one item only.

I'm not saying that if you have a tight budget don't go after it, what I mean is make the most out of the hand you're dealt with. Don't make it as an excuse or don't let it hinder you from achieving your objectives for that auction.

Carol Smith
Carol Smith
2/25/2013 1:06:45 AM #

I'm the type of person who is really reluctant to spend money on things I think are not really worth it.. When I set my eyes upon something, I would really think whether i really need it or not.. i would prefer things on sale.. or just wait for a particular item to be within my ideal price.. Most of the time, i am able to buy the things that i have really waited for months or years.. I feel better because i bought it with a discount already.. It's really amazing.. Patience is really what each person needs. You shouldn't be a compulsive buyer.. Or else, you'll only waste your money..

I just have this mindset of thinking over something over and over again before making a decision.. and it really works.. I don't get to be sad and tend to regret doing or not doing something because i have thought about it for some time..

Dion Pershing
Dion Pershing
2/28/2013 1:25:44 PM #

Timing is everything. This saying is applicable in our everyday lives and most suitable with auctions. Bid within your budget and utilize your budget wisely. Don't get yourself in a situation where you would have no place to go if something goes wrong. If there's a fiercer competitor for an item, learn when to push forward and learn to push the retreat button at the right time. Don't rush when you're actions.

Love Stewart
Love Stewart
4/5/2013 9:45:59 AM #

In my stand, I would say waiting is more worth it.  The satisfaction that you will feel by then is nothing compared to getting something so prompt.

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