We are getting savvier when it comes to our big and small purchases and auctions are booming because of it. Since the credit crunch the auction industry has enjoyed a 50% increase in sales.

Cars, bikes, boats, computers, cameras, wine, jewellery, phones and anything for the home. The threat of recession is pushing many first timers under the hammer...

Here in Perth, crime does pay. They've gathered at Ross' Auctions to pick off the confiscated property of its local underworld.

Craig Edwards, Senior Auctioneer from Ross' Auctions...

"I think people get a bargain at the Police auctions because there's a lot of smiling faces when they leave".

These repossessed cars are coming up all the time. This is a 2008 Audi A5, retailed for about $120,000. We think it will sell for about $70,000 but it is completely unreserved.

The best tips?

* Know how much money you have to spend.

* Know the product. If you haven't done it before and you're going to an auction, I suggest you go and look at a couple first. If you don't know what you're doing, go to the front desk of an auction house and ask them how it's done.

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