Trading in the marketplace takes place in real-time, and you stand in competition with other savvy market traders who also want to profit from great bargains. You also need to spend enough time so that you can see the current trends. Items that sold well yesterday may have stagnated overnight. As you spend time in the marketplace, you will start to recognize the signs that signal “buy” or “sell.” Of course, the longer you spend trading, the more profit you will make. (But make sure you take breaks to eat and sleep.)
It is important to note a key rule of the auction process, that is, if the car is passed in below the reserve, the owner through the agent or auctioneer will first negotiate with the highest bidder for the purchase of the property.
If you have participated in the bidding or have been sitting back watching how it is progressing, and the auctioneer announces the property is going to be passed in, it is a good strategy at this point to make sure you are the highest bidder to secure the option to negotiate with the vendor.