Sold! Nail A Bargain At Your Next Internet Auction

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Antique dealers have been using functions to bump up their profits for decades. The basic idea is simple: grab a bargain at auction and then sell it on for a higher price at a fair or an antique shop, pocketing the difference.

 

But the world of online auctions is a little bit more complicated than that. For starters, there are usually a lot more eyeballs on each auction. The internet opens the auction room up to millions of potential spectators. Not only that, but online auctions tend to be a lot more technical than just waving a card in the air.

 

Here are some of the ways to secure an item and get a great deal at your next internet auction.

Beware Surcharges

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Just like a regular auction house, internet auction houses usually take a fee for using their services. Regular auction houses often demand a 15 to 25 percent fee for selling the item – a hefty amount. The cost of running an internet auction site is less, and the competition is much higher, meaning that fees are usually in the 3 to 5 percent range. But you’ll need to be aware of this before you decide to go down the auction route, rather than buying privately.

 

Choose A Limit And Stick To It

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Professional bidders always choose a maximum amount that they won’t go beyond for each auction they enter. Why? Because they know that auctions can be exhilarating experiences and that it’s easy to get caught up in the moment, bidding way above what you can realistically afford. You need the same diligence and self-control in online auctions too. Thus it’s a good idea to choose a limit and stick to it.

 

Do Your Research

 

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Social media pages, such as https://twitter.com/DealDash, provide information on how to make sensible online bids during auctions. It’s important to do as much research on the item that you’re buying as you possibly can, especially if it’s a one-off or very rare. Do a quick shopping search to see whether the item is available elsewhere online. Also, contact the seller and ask for additional information on provenance or the item’s quality before you commit.

 

Remember, It’s Still A Contract

 

Bidding isn’t like shopping says http://www.telegraph.co.uk. You can’t just change your mind if you don’t like something you’ve bought. There are good reasons for this: organizing auctions takes up a lot of time and money, whereas simply picking an item off a shelf does not. As a result, buyers need to be absolutely certain they want to stump up the money once they start bidding.

 

Pay Quickly

 

Most people think that sellers are the only ones being rated on internet auction sites. But it turns out that buyers are increasingly rated too. Customers who don’t pay up or who make unwarranted complaints about an item risk losing their buyer rating and sellers may refuse to sell to them, or insist on a higher price to cover their risks. For buyers looking to save money, this is not a good place to be.

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