Online Auctions provide alternative venues for people looking for something. When you hear “auction,” probably the first thing that may come into your mind is you bid for something and the one with the highest bid gets the item when no one else can match or surpass it. Usually, live auctions are associated with those who can associated with rich people bidding for high-priced items. It is also associated with items pawned but not redeemed by their owners.
Related Topic: Top 10 Online Auction Websites.
Online auctions are similar. The only difference is they offer items the average person would be interested in having. The function is very much the same. You place a bid for an item starting at the lowest possible price. If someone else bids (that means they are interested too), you either give up or outbid them if you are very determined to have the item. There are many online auction sites on the Internet. Perhaps the most well-known if them all is eBay.
Advantages of Online Auction
Perhaps the advantage of engaging in online auctions is it has no specific qualifications for sellers and buyers. Anyone can create an account or join in an auction. It is free and no fee is required to join. Furthermore, these are places where you can find items you cannot find in stores or you find them too expensive.
As mentioned earlier, you could get an item at the lowest possible price. That is if you are lucky to be the only buyer and no one will outbid you. Keep in mind though that the most items sold are second hand. Yet, some sellers or distributors use online auctions to sell merchandise here.
Disadvantages of Online Auction
With regard to disadvantage, the only issue you might have to contend is trusting the seller. Sometimes, sellers do not give full details about themselves and go by usernames. They do not even put their pictures in their profiles. This makes it rather difficult to deal with them.
Another issue is distance. Some sellers will require you to send the payment first before they send the item you won in the bidding. There have been numerous incidents when buyers were cheated when the sellers did not send the item after payment was sent. This is perhaps the risk buyers must face when joining online auctions.
What can you do to avoid this problem? One tip is to insist on meetups with the seller. With that in mind, read the details of each item up for auction – price, specifications, and details on how to acquire the item. Check the details if they do meetups and if possible, allow you to test the item.
If the seller is not in the same area as you are (example outside Metro Manila) and he or she can only send the item which also means you will have to send the payment, check the seller’s reputation if he or she can be trusted. Buyers can rate the seller based on their experience dealing with them. When in doubt, avoid it, stick to meetups and do not send payments.
Online auctions provide people an alternate place to find items they need. If you are lucky, you might get it cheap. Just be careful who you deal with. Happy hunting!