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Are you still looking for that perfect birthday or anniversary gift but can’t seem to find the right gift at the right price? Have you scoured the internet in order to find that new tablet or PC at the lowest price possible but aren’t able to find any deals within your price range? If this describes your situation, you definitely need to check out the world of online auctions. Depending on the auction site you use and if you find the right deal, you can save a ton of money on electronics, pottery, collectibles—anything you want. There are a few things you should know before using online auctions, though. Here’s some information that should help you win at online auctions.
How to Win at Online auctions
Some people think that the key to winning at an online auction is simply bidding more than anyone else. While this is technically true, you won’t save a lot of money that way. Winning at online auctions takes a lot more strategy than one might expect. Every auction site is a little different, too, so you have to learn specific strategies for winning depending on the site you are using. Here are some general tips to help you win at online auctions so you can get the most out of your money.
1. First, you’ll want to do some research on the product you are looking for. Get such information as how much similar items are currently going for at auction. This will give you an idea of how much to spend. You’ll also want to be aware if what you’re trying to buy is a collectible or not. If it is, know how much they run for so you can identify special deals when you have the opportunity.
2. After you find an item, make sure to check the history and rating of the seller, if possible. This will make sure you are able to purchase your item without having to worry if it’s a scam or not.
3. When you complete a transaction and have to leave feedback on a seller, make sure to be fair and give it some time before you just fire off a negative comment. Avoid accusing anyone of being a scammer unless you have serious problems with your order. Remember, feedback is permanent, so don’t ruin someone’s reputation because you’re having a bad day.
4. If you come across an auction that looks shady, make sure to email or contact the seller with any questions you may have before you place a bid. This will protect you from being scammed.
5. Additionally, make sure you find out any hidden costs from the auction before you bid on an item. You’ll want to calculate shipping, processing and any other fees before you actually commit to purchasing an item.
6. When you are purchasing an item, try to use a credit card. This way you have an additional layer of protection offered to you by the credit card company in case something goes wrong.
7. Always take time to read the description of an auction carefully. Sometimes tricky sellers will attempt to sell something of no value by carefully wording an auction (for example, you might see “Portable DVD Player LIST” for sale and think it’s a portable DVD player for under list price; it’s actually a list of places to buy portable DVD players).
There are many other strategies out there for winning an auction, and you can check out books, websites and forums which are dedicated to discussing specific techniques for winning.
Now that the basics of finding and winning online auctions have been covered, you need to choose which kind of auction site you want to purchase from. The most popular right now are eBay (and clone sites) and penny auction sites. Both are very different.
When talking about online auctions, it’s impossible to bring up eBay, the online auction king. When eBay launched onto the scene, the complete world of internet commerce changed. Instead of having to program and set up your own digital site (a much more difficult task back then than it is today), you could simply look around your house for things to sell on eBay. Since users don’t have to pay anything until they win an auction, it’s very friendly and accessible to use. People new to online auctions should probably start on eBay.
Penny auction sites
These hit the net just a little while ago, and they’ve rocketed in popularity since. The premise of a penny auction site is simple: every item starts at $0.01, and every time someone makes a bid, the cost of the item increased by a penny. There’s a catch, though: it costs money to make bids. Depending on the site, a bid may cost between $0.50 and $1.00. Most of the time, money spent on bids is lost when you lose an auction. These auctions have more risk, but they also have the potential for more reward (such as winning an iPad for $33).
There are more types of auctions, too, such as government surplus auctions, auction house clearings, gun auctions and other internet auctions where the price starts low.. Whatever type of auction site you use, online auctions from online auction sites can be a fun way to save money online. Follow these tips and get buying today to find great deals on the things you need to buy.
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