Far and away, my preference is for an in-person auction!
1. The excitement of finding something in a general auction.
2. Prices are generally much, much lower.
3. If you have flipper competition, a lot of the time they are looking for 50% ARV.
4. If you are up against a collector, the art of bidding is such a rush. Knowing when to jump in, being able to jump increments, gauge commitment, set yourself up for other lots, etc.
5. It is almost like hunting, knowing when to ask for an item to be moved up to the block or just waiting it out for 6 (!) hrs.
It has been a lot tougher now that many auctions have embraced a hybrid approach, but many old school auctioneers have little patience for internet lag time and seem to favor onsite action at the hammer.
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