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!

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).

Convenience
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.

Online Auction Sites – A Brief Overview

Thanks, in part to the online world, much of what we do is changing dramatically. The advent of the internet has changed how we shop, how we sell, and how to do business. It’s altered a great many things that we do. Learning how to work with those changes is sometimes challenging.

Where we once attended a physical auction in order to buy products, today, we may also attend online auctions. These save us time and gasoline, by permitting us to shop online and to get lower prices at the same time. Online auctions help us to buy in new ways, but still to bid for those products that we want and to achieve lower pricing when we win them.

Auction know-how is something not everyone has, because online auctions are things we have not yet explored. Although they’ve been around for a while, older people and typically people who have not used the computer for a long period of time, aren’t entirely sure how to bid at an online auction, or how to use one.

For those people, we’ve offered just a bit of information about online auctions and laid it out so that you know where to look and what to expect once you get there. In no way is the online auction a clone of the physical auction. Online auctions use software to allow you to bid for the products that you want. You’re going to need to get a little bit of auction know how in order to be able to bid. Taking a look at each individual online auction site and scoping out how the software works is necessary. Most of them, thankfully, are not difficult to sort out, once you’ve taken a closer look at how bidding works.

Each of the better online auction sites also have very in-depth methods of helping you to understand how they work. For example, one of the largest of the online auction sites, eBay, offers you a very good look at their software in the help section. It explains how the bidding process is done and what to do once you have won an item in the auction. It will provide you with easy ways to pay for your product and explain the shipping process, as well as what to do if you get an item that is damage or not the same as was described to you.

The full featured and comprehensive kind of auctions that take place on eBay can see you bidding on-and winning-anything from a car to a house, to smaller goods and services. eBay literally sells anything at all. For those who are not familiar with it, it is also affiliated with PayPal, which means that you’re going to be able to make your payments easily and quickly.

eBay is just one example of the online auctions that are available. Specific auctions are available also in the UK. Other auctions include such things as the penny auction, where you will lower the price of goods by sending in incremental bids. Take a good look at what the online world offers you now in terms of auctions. You may never attend another physical auction again.