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Auction sales are useful for all types of goods, but there is a need for caution, because you will not have sight of the item itself. This need not become a difficulty if you are purchasing something like bedding or dog\’s food, but it can be vital if you are buying collectibles where condition is of prime importance.
For instance, the condition of stamps and coins governs the object\’s value within the limits of the year\’s or issue\’s minimum and maximum catalogue values. However, you only see a picture and it could be of another coin or stamp – what you receive in the post might be a different kettle of fish.
In this article we will look at the most serious pros and cons of auction sales. First, the benefits:
Auction sales can be traced from the opening auction bid to the end and you can choose how much you are prepared to pay over a fairly long period of time – days or weeks rather than minutes at an off line auction. You still have information at hand like minimum sale cost. This gives you plenty of time to weigh up alternative sales options.
There is a chance that you can buy items at well under market value. For example, many items do not have a reserve price, so if the item is not in demand among many people, you may buy it really cheaply. Also, if the minimum price is not met, it is worth getting in touch with the vendor and offering a little more for a private sale.
If you go through a reputable on line auction site, you will be covered against fraud. If the item you receive is below par for the description of it on the website, you have a very good opportunity of receiving your money back either from the dealer, the auction site or your credit card firm – three layers of protection.
However, there are disadvantages too. These are the ones that most bidders think are the most serious:
You are buying sight-unseen, so there is a greater chance of fraud, but as we said above, the auction site and your credit card firm do have a level of liability, so please check what that is before you go bidding (or even shopping) on line.
Check the postage and packing fees. This is a favourite way of bumping up the minimum charge for an item. For example, a set of batteries may not have a reserve and you may be happy to purchase them for a dollar, but if the postage is ten dollars, you have been had.
Another favourite rip-off is selling fakes. You might think that you are bidding for genuine Gucci sunglasses, but really the chances are that they will be cheap Chinese fakes worth a tenth of what you paid. Would you really know the difference? Honestly?
You can get a bargain on an auction website, but bear in mind that there are a lot of hungry people out there who are willing to lie to earn a couple of dollars and that does not even include the professional cheats and thieves.
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