| If you are new to the world of auctions,
| |
| | changes, the market for them may
|
| you must do some research before bidding
| |
| | collapse.
|
| on products or services. New online
| |
| | 7. Auction Newsletters:
|
| bidders can be paying much more for an
| |
| | You should sign-up for online auction
|
| item than is necessary. Here are some
| |
| | newsletters, like especially if you are
|
| things that you should look for:
| |
| | a collector. Some items rarely come onto
|
| 1. Type of Auction:
| |
| | the market, and if you want to know when
|
| Is it a Dutch, English, Sealed-Bid or
| |
| | they are available, you must be in the
|
| Vickrey Auction? Most online auctions
| |
| | loop. Also, put yourself out there,
|
| are the Dutch-style, which means the
| |
| | especially with business to consumer
|
| auctioneer asks a certain price as a
| |
| | auction sites. Send them an email and
|
| minimum (called a reserve) and the
| |
| | tell them what you are looking for and
|
| bidders keep bidding until time is up.
| |
| | they will put you on a list and notify
|
| The person who has out-bid the others
| |
| | you when and if the item comes available.
|
| wins and then must pay for the item.
| |
| | 8. Sniping:
|
| Other types of auctions include business
| |
| | It has happened to all of us. No one has
|
| to consumer or consumer-to-consumer.
| |
| | outbid you on the item you want. Your
|
| eBay is the consumer-to-consumer model
| |
| | bid has been the top bid for about a
|
| where almost anyone can sell their wares
| |
| | week. You check your bid moments before
|
| and anyone can bid on the item or
| |
| | and when you turn away from the computer
|
| service. is a business to consumer
| |
| | for one second a sniper comes in and
|
| auction site, where there are trusted
| |
| | outbids you and wins. Who is to blame?
|
| vendors who sell new items like jewelry,
| |
| | You are, in most cases. A sniper can be
|
| tools, watches and electronics.
| |
| | bidding on his own or can use automated
|
| 2. No Reserve Bids:
| |
| | bidding tools to outbid you. There is
|
| This means there is no minimum amount you
| |
| | nothing illegal about it.
|
| must bid before the auction will send you
| |
| | In an effort to help, most auction sites
|
| the item. This is a great way to save
| |
| | will automatically extend an auction by
|
| money and get great items - generally,
| |
| | five minutes if there is a bid placed in
|
| there is no catch. Check the details
| |
| | the last 10 minutes of an auction.
|
| before bidding.
| |
| | Proxy bidding is the best thing you can
|
| 3. Packing & Shipping Costs:
| |
| | do in this instance. Figure out what the
|
| Always, and I cannot stress this enough,
| |
| | maximum you wish to pay is and enter the
|
| always check to see how much the shipping
| |
| | amount in the correct location. The
|
| charges are before you bid! There are
| |
| | amount of your bid will only increase if
|
| many examples of people having the
| |
| | someone else bids against you. If the
|
| winning bid on an item and then realizing
| |
| | sniper comes in and bids over you, you
|
| the shipping fee is more than the cost of
| |
| | have your maximum price entered and you
|
| the item.
| |
| | can feel good that you did not overspend.
|
| 4. Spending:
| |
| | 9. Bigger is Not Necessarily Better:
|
| Always know the maximum amount of money
| |
| | Auctions that sell anything and
|
| you are willing to spend on an item.
| |
| | everything are great for someone who buys
|
| Also, do your research to find the fair
| |
| | many different items. Auctions that sell
|
| market value of an item. Obviously, if
| |
| | specific niches are definitely better for
|
| the item is antique there are many
| |
| | collectors. To find auction websites
|
| different facets to the auction pricing,
| |
| | that may be of interest to you just enter
|
| including quality, condition and original
| |
| | a large-scale search term like 'jewelry
|
| packaging. Never get overly competitive
| |
| | auction' or 'bracelet auction', etc.
|
| and just bid to win. You will pay more
| |
| | Bigger auctions may charge the vendor
|
| money and the other people at the auction
| |
| | seller more money to list their items and
|
| will not be happy since in future you may
| |
| | that extra charge will trickle down to
|
| drive up the price for items they will
| |
| | you. My advice, shop around.
|
| bid on. However, you will make the
| |
| | 10. Oops...
|
| auction site happy
| |
| | In the world of online auctions, or any
|
| 5. Questions & Contact Info:
| |
| | other auctions for that matter, a bid is
|
| A reputable auction site or seller will
| |
| | a bid, and it is like taking your finger
|
| have easy to find contact details to
| |
| | off a checker. You made your move and
|
| answer all of your questions. If you
| |
| | now you must live with it. If you must
|
| find no contact information, do not bid
| |
| | renege, you will be considered a bad
|
| on anything. You may be short-changed on
| |
| | person, regardless of the issue. This is
|
| your items and if you cannot contact
| |
| | because you have driven up the cost of
|
| someone when you want to buy something,
| |
| | the item for other buyers, you have
|
| chances are if you want to return it or
| |
| | promised the vendor that you will buy and
|
| if the item is broken, there will be no
| |
| | now you have just gone back on your word.
|
| one to contact then either.
| |
| | What do you expect? Only, only, only
|
| 6. Fads & Resale Value:
| |
| | retract your bid when absolutely
|
| Items like Cabbage Patch Dolls were big
| |
| | necessary. Think before you bid.
|
| in the 1980s and are now considered
| |
| | Following these basic rules will help you
|
| collectibles. However, many items that
| |
| | in the online auction world. These are
|
| were mass produced are worth virtually
| |
| | not the only things you should know, just
|
| nothing. Make sure you know the long
| |
| | the basics. Spend some time watching the
|
| term outcome before you bid. Also, if
| |
| | auction before bidding and see how it
|
| people are making foolish purchases now
| |
| | works. Happy Bidding!
|
| because they trendy, when fashion
| |
| |
|
