Online auctions are some of the best things the Internet has brought forth. Rather than squeezing yourself in a room full of bargainers, you can just sit back, sip your favourite drink, and watch as the auction proceeds. With a good strategy, you can even snag quality government cars for sale without stepping out of your house.
But, just like being in an actual auction event, there are particular dos and don’ts when it comes to online auctions. The experience is vastly different, which is why proper bidding practices can make a huge difference.
Here are some of the things you should avoid doing at an online auction:
Jumping into the Auction in a Frenzy
Do your research. Resist going into a bidding frenzy just because all the others are vying for an item. Read as much information as you can about the auctioned item, and weigh your options well. Look at the photos so you can compare it with other items. The trick here is to know whether the value of the item measures up to the ceiling price you’re willing to pay.
Missing the Deadline
Online auctions are all about deadlines. Miss your deadline, and you might see your bid topped by other hopefuls. Most auction sites send emails to notify the highest bidder that another bargain hunter has placed a higher bid. Always take note of the deadline of the auction and check your mail regularly to stay updated. Seasoned bidders and sellers say that the last two-hour window is usually the most critical.
Assuming All Types of Payments are Accepted
It is a rookie mistake you should not do. Even before you hit the bid button, make sure the seller or the auction site accepts your preferred mode of payment. Some bidders are left empty-handed just because the seller does not accept checks or money orders. Make sure you are able to pay via the acceptable method.
Not Paying Up Quickly
After winning a bid, you usually have 5 to 10 banking days to make the payment. This also depends on the seller’s preferences or the jurisdiction of the area. But, it pays to pay up immediately as some auction houses charge storage fees.
From quality trucks from Perth to antique furniture, online auctions offer a whole new buying experience. But what makes it all more worthwhile is knowing that you have done all these properly. The satisfaction of seeing your prized item finally at your doorstep—or on your driveway—is the ultimate goal.