The Pros And Cons Of Auction Sales

by Owen Jones⁽²⁰⁹⁾ Red Star

http://the-real-way.com

Auction sales are useful for all types of items, but there is a need for caution, because you will not have sight of the item itself. This need not be a problem 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 concern.

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 merely see a picture and it could be of another coin or stamp - what you receive in the post may be a different kettle of fish.

In this article we will look at the most important pros and cons of auction sales. First, the advantages:

Auction sales can be traced from the opening auction bid to the end and you can choose how much you are prepared to pay for a fairly long period of time - days or weeks rather than minutes at an off line auction. You still have details at hand like minimum sale price. This gives you lots 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 device is not in demand among loads of people, you might get it really cheaply. Also, if the minimum price is not met, it is worth getting in touch with the seller and offering a little more for a private sale.

If you go through a trustworthy on line auction site, you will be covered against fraud. If the device you receive is below par for the description of it on the website, you have a excellent chance of getting your money back either from the vendor, the auction site or your credit card firm - three layers of protection.

However, there are disadvantages too. These are the ones that most people think are the most serious:

You are purchasing sight-unseen, so there is a greater risk of fraud, but as we said above, the auction site and your credit card company 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 charges. This is a favourite way of bumping up the minimum charge for something. For example, a set of batteries may not have a reserve and you might be happy to purchase them for a dollar, but if the postage is ten dollars, you have been caught.

Another favourite rip-off is selling imitations. You might think that you are bidding for genuine Gucci sunglasses, but really the likelihood are that they will be cheap Chinese imitations worth a tenth of what you paid. Would you honestly know the difference? Honestly?

You can get a bargain on an auction website, but remember that there are a lot of hungry people out there who are prepared to lie to earn a couple of dollars and that does not even include the professional liars and thieves.

Owen Jones, the writer of this piece, writes on a number of subjects, but is now involved with sales force automated software. If you would like to know more, please visit our website at Sales Force Tools

Article submitted Sunday, December 19, 2010 & read 575 times.

Owen Jones writes on many subjects and is currently running several websites. He was born in Wales but now lives in northern, rural Thailand.

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» left by Jennifer Stewart (1 year 139 days ago.)

I think live auctions are scary enough; it's very hard not to get caught up in the bidding frenzy. Online is very risky, I think. Thanks for the warnings.
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