Influenced by others at auction

[Account Closed]

I was at an auction 2 days ago.  There was about 6 bidders.  Four of the bidders never bid but me and the other guy bid on both of the  2 homes.  When he walked in, everyone knew him.  As if he knew all about everything.  I had looked at the homes and felt comfortable on my bid amounts.  

The first house went up and I got it for 4k.

The second house went up and me and this guy ran it up to 15k.  I had only planned on going to 10k prior to the sale.  

Ill admit part of my bidding was based on this guys confidence. 

 After the auction I told him I only went to 15k cause I had seen the front septic tank had been dug up quite recent.   In a very condescending manner he told me I had not done my homework and the house was on the sewer system.  During the course of conversation I and the others in the room realized he got the 2 houses mixed up.  The guy was in his 80s and could not hear.  I had to yell my bid at him.

So my point is, don't do what I did.  Just because others are going after a deal don't assume they know what the heck they are doing or even bidding on.