If you plan on building or remodeling your home in the near future, you should really look into going to a building auction. There you will find the leftovers from construction projects, hardware store overstocks and contractor overstocks. Most of the materials will be new or hardly used.
The materials you will find at a building auction can be either low grade or top quality. It helps if you go to a building materials auction with an idea of what you would like to buy and what sort of things you should be looking for about that item to determine the quality of it.
It also helps to have a general idea of the retail price of the materials that you are looking to buy. In the rush of an auction, it is very easy to get caught up in the excitement and over bid.
Visit your local hardware store to get an idea of what you would like and to find out retail price. Your best weapon to make sure that you save money through building material auctions is knowledge. Most building material auctions will have a preview day or time. This is when you will be allowed to inspect the materials that will be sold later (either that same day or the next). While you can inspect the material while the auction is running, it is always a good idea to go to the preview. You never know, you may find something at the preview that you would like that wasn’t originally on your list. Attending the preview will allow you the time to go find the information about those materials before you make a bid.
Attending the preview also allows you to get an idea about what kind of transportation you will need. Too many times, buyers come to auctions with compact cars and are dismayed to find that the 15′ lengths of hardwood flooring they bought at a great price won’t fit. Be realistic about what you might buy. If you think you will buy a substantial amount, rent a uhaul. If you think that you will be buying something that is heavy or bulky, track down your friend with a truck to help you transport your winnings.
As far as bidding on the auction, read our article about buying things at auctions for more information. The actual bidding process at a building materials auction is not so different from any other auction.
Once you have won anything, make sure you keep an eye on it. Unfortunately there are people out there who will steal your winnings or mistake your winnings as theirs. Make sure your item is clearly marked with your bidding number. If the item is small enough to carry off, pay for it as soon as possible and take it out to your vehicle. Any other substantial materials can be left until you are ready to leave but make sure you check back frequently to make sure that someone is not trying to load your building materials into their truck.
Once the auction is over, you will normally have less than a day to clear your winnings off the property that the auction was held at. If you have planned properly, this should not be a problem. If you do not remove your building materials by the requested time, you will lose your property. Make sure that you are prepared to move what you buy.
Building material auctions can be great. I have seen people buy top quality, luxury two person bathtubs for $50 and get hardwood flooring for .10 a foot. You can deck your house out in the best of the best for less than buying the cheap stuff at the hardware store. But, as with any auction, a little preparation will save you lots of money and headaches.