Why a Live Bid Online Auction Can Be a Better Experience Than a Traditional Auction

A live bid online auction can often be a better choice for you than using a traditional auction house to make your purchases. Before we get into the why and how of it though, a bit about what we mean when we say live bid online auction is in order.

We’re discussing here a traditional auction with a real, licensed auctioneer who calls the bids as they come in, but the whole thing is conducted online rather than in person. It’s completely unlike the more common models of online auctions and it’s important to keep that in mind when trying to understand why we’re so excited about them.

Here’s why we believe that an online auction run by a live auctioneer is a better choice than a traditional auction run by the same auctioneer:

Better Selection

When you go to a local auction, you are inevitably stuck bidding on whatever someone happened to have in their local home. Unless you happen to live in New York or London and plan to attend a Sotheby’s or Christie’s auction, you will, out of necessity, be limited in your choices.

An online auction, by comparison, offers you the opportunity to bid for items that may be located anywhere in the country or anywhere in the world. In some cases, the online auction house you work with may actually arrange for containers to ship items in, though more often than not, the online auction house will have whatever is local to them, which likely will not be what is local to you.

Better Prices

Let’s face it, when you’re sitting at an auction house in person, things can get a little heated. Someone spots something and on a whim decides they simply must have it. Then they see you bidding on the same thing and feel almost compelled to outbid you just so you can’t have it.

While some of those emotions will obviously spill over into an online auction, you will see less of them. Plus, because the concept of using a live bid online auction simply is not very well known yet, you may be able to score some great bargains, just like you used to back in the days before PBS started teaching everyone to look differently at the junk in their home and realize that they may have valuable antiques (via the Antiques Roadshow).

For some of us, driving an hour to the auction house is a weekend activity and gives us something to do. However, for those of us who enjoy collecting rather than standing around all day in a stuffy auction house, a live bid online auction can be an absolute Godsend.

There is no more driving there and getting stuck in traffic only to learn that the item you had your heart set on just closed ten minutes before you got there. There is no racing to get there early so you can find a seat rather than be stuck standing in the back of the room. And you don’t even have to worry about carrying precious antiques home in the car as they’ll be shipped to you, professionally packed and insured.

Navigating Your Way Through an Online Auction

Millions of people participate in online auctions everyday, but do they really know the ins and outs of bidding online successfully? There are certain things that one needs to be aware of when bidding online without breaking the bank or ripping out your hair.

One of the first things that bidders should do is invest time learning all of the different auction terminology there. It is important for you to know what the auctioneer is talking about while the action is happening, especially when you are bidding online rather than being there in person. It will be so much easier for you to follow along with an auction when you know what they are talking about.

Once you are well versed in auction terms, you should next familiarize yourself with the upcoming auctions and peruse their catalogs. By looking through and researching what is available for auction ahead of time, you are able to make decisions on what you what to bid on in a calmer atmosphere rather than in the heat of the moment during the auction. With online catalogs, you can see descriptions and pictures and are able to ask questions to the auction house before the auction so that you can make informed decisions rather than ones based on emotion.

Another important thing to do before the auction starts is to remember to register as a bidder for that auction. Many auction houses will want to approve you as a valid bidder before the auction starts and you will find it much easier to be an approved bidder before the auction starts rather than during the auction. By doing this well ahead of time, you eliminate the possibility of missing the lots that you are interested in bidding on while waiting to be approved.

While the auction is happening you will notice that it can be fast paced and sometimes you might struggle with keeping up. This is why taking advantage of maximum bidding ahead of the auction can be beneficial. If you can go through the online catalog and place maximum bids on items you are interested in, you lessen the risk of not getting the item you want considerably as well as minimize the risk of overpaying for the lots you are bidding on.

When the auction is finished and you have items that you have won from that auction, most auction houses will send you an email confirming the items you have bid on and won. This process can take a bit of time for the auction house to complete as they need to confirm each lot number. Remember to be patient. Many auction houses wait until the completion of the full auction to send out these emails rather than the completion of the lot number in the catalog. Bidders can easily get frustrated by not knowing that the process can take time to get their confirmation emails, but once you are aware that this can take time, you can rest easy while you wait.

By being aware and knowing these few tips to help you navigate through your next live bid online auction, you will reduce the anxiety around bidding online and ensure a fun and easy process the next time around. Happy Bidding!

A Guide To Online Auctions

Since online auctions hit the world of the internet in around 1995 they have found international popularity and now there are literally hundreds of online auctions from the traditional highest bidder auction to newer more innovative formats such as penny auctions. You can buy almost anything from auctions on the internet including antiques, second hand items and brand new products. So whether you are a buyer or a seller, here’s your quick general guide to online auctions.

Buyers Guide to Online Auctions

Internet bidding sites are great fun and for many people this is a big part of the attraction. Yes you may well get that top notch Smartphone for less than a quarter of its value, but for many users actually winning such an item is just a bonus in what can be an exciting chase to outbid your competitors at the last second!

Before bidding on any item however, here are a few tips that might just come in handy:

1. Online auctions are all different so familiarise yourself with each individual site and their rules and never assume that they all work in the same way. 2. Find out if the site offers buyers protection and discover what the return policy is. 3. Read about the item you are bidding on carefully, especially the small print! 4. If the auction site gives seller ratings then make sure you check these out. 5. Consider how much you are willing to pay for an item and stick with that amount, be prepared to walk away if it goes over your highest offer. 6. Keep your nerve and have fun!

Sellers Guide to Online Auctions

Online Auctions can be a convenient and easy way to turn those unwanted items into spare cash. Some people have even set up online businesses which trade in pre-loved items. It can be a great way of earning a little extra money, but before you start to list those unwanted Christmas presents, read out brief guide first:

1. Be truthful about the item you are selling as some auction sites will list buyers’ feedback and your rating may be affected if you don’t mention flaws or stains, etc. 2. Consider how much the item would cost to post and think about whether or not you would ship anything overseas. Don’t be tempted to hike up postage charges in order to sell something cheaply, buyers can see through this tactic. 3. Use your own photographs and not stock photos. 4. Think carefully about the lowest amount you are willing to accept for the item because if someone bids for that amount, you may be obliged to sell at that amount. 5. Ensure buyers know where they stand with a comprehensive returns policy. 6. Don’t be tempted to take private offers away from the auction site as you won’t then be covered by the online auction protection should things go wrong.

Online auctions are a great way in which to make money and find fantastic bargains! They are also great fun to take part in so keep your cool, follow the rules and you can’t go far wrong!