Lawn, Garden & Landscaping
2009-08-01 13:52:00
Tips for a successful auction
Question: I know online auctions are becoming more and more popular; I’m still a little leery. Do you have any tips?
Answer: Online auctions are a great way to purchase items these days. Sites such as eBay, UBid, and many others can help you find that perfect product you are looking for. Just remember not everything you buy is top quality, nor is everyone who sells ethical. Before actually bidding on an item, there are few things you should know.
Know what you are bidding on, and what its value really is. If it is an item seen in retail stores, make sure the price is reasonable, especially if you are going to be paying shipping. Make note of whether the item in question is a new, reconditioned or used product. This will help you come up with your maximum price.
Check other online auction sites before placing a bid. Sometimes professional auctioneers will list the same item on multiple sites, and if those sites are not as popular as eBay you may get a lower price for the same exact item. Often there are fewer bidders as well at these sites, which will give you a greater probability of getting your item at a lower price.
Check if the item comes with a warranty or as is. If as is, you will need to go through the manufacturer even if it is a brand new product. Inspect the item in person if possible. You can save on shipping if you are buying from a local auction company where you pick up your items.
Understand the payment options. Some merchants only accept certain types of payments, such as PayPal. Others accept credit cards, checks, money orders, etc. You need to make sure that you are able to pay with the proper method of payment. If you win a bid and cannot pay, this can result in your auction account being cancelled.
Read the product description thoroughly. If there isn’t quite enough information for you, contact the seller. They should be happy to give you more information if you request it. You are spending money, so get all the info
Know what your maximum price is for the item, and stick to it. Do not get into a bidding war, as you will end up paying much more than you should. Also take into account what the shipping cost is when calculating your maximum bid. Most sellers have the shipping cost in the product description, or will provide a UPS or USPS calculator for you to calculate shipping.
Take note of when the auction starts and ends. Also note the shipping time (which most sellers note for you). This way you can decide if the time it will take for you to actually receive the item is acceptable for you to place a bid.
Don’t be afraid to bid early. Putting in a bid will show others that you are interested in an item, enough to ‘stake your claim’, but don’t bid your maximum right away. This may make bidders who have a lower maximum bid move on to another listing of this item which has no bids.
Keep checking on your bid. Many auction sites have an option to do automatic bidding (proxy bidding) for you up to your maximum, however there are advantages to doing it manually. You can watch a bid right near where it ends and put in your bids to grab the item. Some bidders may not be paying attention to when the auction ends, or may have reached their maximum already. You can also invest in auction software called ‘sniping’ software. This automates the bidding for you in the last 5 minutes of an auction to get in the very last bid. Of course, others who use this type of software can make bidding frustrating for you!
