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!

What Are the Advantages of Hiring an Online Auction Service Provider?

Online auction service providers are doing wonders to non-profit organizations and cause marketers. Their solutions are internet based. Hence, they are free to use and do not require any set-up fee or monthly subscription charge. Online auction service providers help to arouse maximum interest on your items for auction. Any auction-related news can reach out to the global audience, easily, 24×7. The online auction service providers also enable instant promotion of your items on Facebook, Twitter, and such other popular social networking sites.

Some key advantages of hiring an online auction service provider include the following:

Creation of Multiple Auction Sites

They help you set up as many auction sites as you want. You can easily launch an auction with set prices. Non-profits can also upload different banners and imagery on their site using a web-based auction platform.

Customized Solutions

The web-based auction service provider offers customized solutions to promote a particular auction to supporters, while using a dedicated domain name and preserving your brand identity.

Easy Accessibility

The online auction service providers offer a site toolbar that is accessible from any page on the site. It contains the name, logo, and information about the organization. It also provides a link to an existing organizational website.

Seamless Integration into Web or Social Media Platforms

Online auction platforms also enable seamless embedding of auction interfaces into third-party websites and blogs. In this way, they maximize your site’s exposure by simultaneously importing information on social media platforms, such as Facebook.

Secure Payment Management Solution

The system provides diverse payment options to the buyers of auction items. You can pay using your credit cards, PayPal, and so on. The PCI-compliant payment management solution offers multiple gateways to provide you the highest security.

Easy Accounting Service

The auction service providers feature an integrated accounting solution to process funds in multiple currencies. They include a fully integrated mechanism for managing auctions, both live and silent.

High Visibility

Your site is expected to get maximum exposure once you start using any of the online auction platforms. Potential bidders and buyers will get to view your auction items 24×7. Besides, the platform also helps the auctioneers connect with the bidders online.

Option of Uploading Videos

The Cloud-based auction platform features pre-recorded promotional video presentation capabilities. You can upload videos to promote a charitable cause to individuals and companies.

Thus, the online auction service provider brings in a user-friendly platform to connect and interact with the bidders. They enable the clients to raise funds through the auction of items and extend their reach to supporters outside their immediate audience.

Three Reasons to Bid Online – Auctions Are Waiting

If you are an avid auction participant, the idea of taking your interest to the Internet may seem strange. After all, why bid online? Auctions are supposed to be attended, right? Well, yes and no. There is more here than meets the eye.

Convenience versus Attendance

No matter what you collect, from antique silver to sports memorabilia, sooner or later there will be an auction which you desperately want to attend, but can’t. It might be distance that prevents you from getting to the auction, timing, or even a previous engagement, but with online auctions, it just doesn’t matter.

Once you have registered and received permission to bid on a particular auction, you don’t have to be there. You can sit down at your computer, stream the auction live, participate, bid, and triumph without setting foot outside your home. This is particularly wonderful if the auction is taking place several states away. You don’t have to spend a ton of money for travel only to end the day empty handed.

Absentee Bidding Online

Of course, if the real problem is that the auction is taking place when you have another engagement, live bidding won’t work. For this there is absentee bidding. The concept isn’t new – people have used agents at auctions forever – but you never really know if your agent will represent you accurately.

With new software, you can look through an online catalogue, evaluate what you wish to bid upon, and place a maximum bid well in advance of the actual auction. You can do all of this when you have the time and can make a good, rational decision.

Later, when the auction takes place, you have the assurance that your bid will be raised to your maximum limit, automatically. You can check in when you are free to see if you won your item; if successful, shipping arrangements are made and your prize will arrive in due time.

A Broader Selection

If you are like most collectors, you are very much limited by geography at this point. You can plan to attend auctions that are out of state or far away, but it involves a lot of effort. Finding out about smaller auctions may not even be possible. With online auctions you can find out about any advertised auction, browse the catalogue, and make your decisions in leisure.

By accessing more auctions, as you do online, you have a better chance of seeing something special. Your auction house isn’t limited to just the merchandise it has in stock; it can connect and coordinate with many other vendors, providing you with a better selection.

Secure and Safe Transactions

We all hear about security issues that crop up with online purchases – you don’t have to worry when you participate in online auctions. Your information is processed with 128 bit encryption to protect your data from any prying eyes.

Once you take a look at just how many auction houses are turning to online bidding, the advantages will become even clearer. With the convenience, selection, and flexibility offered, it won’t be long before you want to try bidding yourself. Online auction bidding is the best way to expand your collection.