And so, The Day has arrived and  you, along with maybe 10 to 500+ others, are off to find out whether all your hard work in preparing for this auction will be rewarded by the auctioneer dropping his hammer on your last bid.

It is or can be exciting stuff, generally I thoroughly enjoy the atmosphere of auctions, it's pure theatre on a good day, but when the room is 'cold' it can be a bit turgid.

Now, as with every aspect of buying property at auction, you need to be well prepared before the auction day. Every auctioneer publishes their terms of business in the auction catalogue which can change between auctions and can differ considerably between auctioneers, though there is a high degree of commonality, so there is a good case for always checking the auctioneer's terms of business (TOBs).

Auction venues are generally in hotels or conference centres so, with the possible exception of London, parking should not be a problem.Also by holding auctions in hotels or conference centres, the venue is probably licensed with refreshments readily available. Occasionally, the auctioneers may provide sandwiches, particularly where the auction starts early morning and continues through to late afternoon but you need to be quick to beat the regulars that are after a 'free' lunch.