While attending an auction can be an exciting and exhilarating experience, for the novice, it can also be an intimidating one. To help consumers better understand the auction process, the Overland Park, Kansas-based National Auctioneers Association (NAA) has added new information on its Web site to teach people the basics of the auctioning process.

Auction Answers is a brief overview of the auction experience available for download from the NAA Web site that was created in conjunction with USA Today and its “Auction Showcase” feature that profiles real estate and other auctions around the country.
“Auctions fascinate consumers,” NAA president Randy Wells said. “For many, auctions can be intimidating and confusing at times. The goal of Auction Answers is to clear up much of the confusion surrounding auctions, such as terminology and its process. We want every bidder to be prepared to bid on auction day and feel comfortable when they raise their bid paddle.”
The NAA has also created an online video with tips for consumers that are considering hiring an auctioneer.
The NAA, a trade group for the auction industry, estimates $250 million in goods and services were sold at live auction last year.