Auctions can be confusing, especially to first timers unfamiliar with the process. There is even a widely held belief that if you're not an expert, you're likely to be overcharged. Well, if you've always been interested in visiting an auction and even making a bid, you shouldn't hesitate. With a little preparation and knowledge, you can do just as well as the regular auction-hounds, and maybe even pick up a great item at a great price.

Diana Philips is the Vice President of Sotheby's, which has been conducting auctions for over 250 years. Here she offers insights and advice to help first time auction visitors have fun and save money:

• Auctions are for everyone.
  According to Philips, absolutely anyone can walk through the doors of an auction. She advises first timers to sit in on an auction of items that they're not particularly interested in. This will allow them to get to know the process without having to battle their urge to make bids.
  
• Newspapers.
  Check out the auction listings in your area newspapers. In New York, for example, the Friday New York Times has the listings for all the major auction houses.
  
• Expert staff.
  When you visit an auction, you should take advantage of the knowledge and expertise of the staff. They will be familiar with the details of the auction process as well as the items up for bid, and can answer all of your questions.
  
• Vocabulary.
  Philips advises first-timers to keep their ears open. It doesn't take long to pick up the specific vocabulary of the auctioneer and bidders, and this jargon will be of great help once you decide to start making bids.
  
• Bargain hunting.
  The reserve price is the secret, agreed-to minimum that an item's seller will accept, and getting a great deal often depends on guessing what this number might be. Philips suggests scanning the auction catalog for low estimate prices. If you can bid on the item without competition from the other bidders, you might snap up a real bargain.
  
• Unique thrills.
  Philips loves auctions because they include the thrill of the unknown. They are unpredictable, and even the experts don't always know how they will turn out. If you're intrigued by this unique way of purchasing and want to try your hand at bidding on a great item, visit an auction today!

For more information on auctions, check out the following organizations and websites:

Sotheby's
http://search.sothebys.com

Auctionguide.com
www.auctionguide.com

National Auctioneer's Association
www.auctioneers.org

Auctioneers Association of Canada: All About Auctions
www.auctioneerscanada.com

Next: New York Auction Tips