What Should You Know About Online Auctions?
Online auctions are quite addictive! Its supposed to be so much fun that many free auction sites report that people bid just for the sake of it
. And they are not to blame. So the idea is to bid real low for stuff that you may not buy at their real prices! It also works the other way round. Any old stuff that you have and are eager to chuck out, well give its online auction a shot! The online auction website is nothing but the venue for your auction. You are responsible for the final sale, the base price and all other formalities. Great, isnt it? The website charges some nominal fees from you for usage and then a percentage of the winning bid if your product does sell.How to get started with online auctions
1. In order to put up your own stuff for auctions, sign up with an auction website and provide valid credit card details. Also you need not worry as the details will be safe with the site. Its one way for the website to protect against seller fraud.
2. Supply your basic contact info, following which the sites admin will send a confirmation email to your inbox. Create a user ID to access that account.
3. This process starts with you putting up a picture of the product on the website. After this you provide a thorough, detailed description of the product that explains product features, dimensions and also has care instructions. For instance if you are auctioning a table, you should detail out what material its made of, how it is to be cleaned, how often it needs to be varnished and so on. Take a lot of digital pictures and then pick out the best, be sure to capture all features by zooming in. You can also follow other instructions as listed on the websites self-help section. Browse through those steps to check if you have followed each and then go wild auctioning.
This was how to get started. Now starts the difficult part; a buyer can only bid if he/she is able to find the product that you are selling. The buyer should always be able to get back to you if some product characteristics and features are not clear.
Finally when a buyer decides to buy the item, the final offer price is communicated to the seller via the website. The product is sold as soon as the seller agrees and is taken off the catalogue. Some auctions are time bound, which means people can go on bidding for them for a certain period of time. Proxy bids are a given in such cases. Every buyer can quote the maximum price that he/she is willing to go up to. This is done by the website itself and your authorization isnt required for it. This gives everyone an equal shot at winning the auction.
Before the final step when you actually get started with the auctions, read up reviews of other competitor sites as well. Its only after this that you should go ahead with the auctioning.
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