subject: Why Are Online Auctions Suddenly The Rage? [print this page] Online auctions are entertaining, competitive and addictive! People auction for anything and everything and the prices that you get to see are unbelievable, in a good way. These prices are as low as it can get and its all the more fun because of it. So the idea is to bid real low for stuff that you may not buy at their real prices! There is also a vice-versa to this; you want to chuck out your old center table, well dont; just auction it. So instead of just discarding something, you might actually get some cash for it! So you have a website acting as the venue for your auction. You are responsible for the actual sale and all the following formalities. Cool, 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.
Keep reading to know how to get started with online auctions
1. When you are going to put up your own stuff for auctions, first sign up with the site with valid details. Also you need not worry as the details will be safe with the site. The valid details are required so that the website can protect itself from seller fraud.
2. Then give your basic contact info, so that the site can contact you after your item has been auctioned off. Create a user ID to access that account.
3. Generally how these things work is that you take a picture of the merchandise that you want to auction and upload it onto 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. Just run through those steps before the final upload.
This should get you started and in case of doubts you can always look up material online. After this its up to the buyer and the search engine of the website; generally just beforehand do a random search on the auction website to determine how accurate and fast their keyword search feature is; it shouldnt take you ages to find that particular product. After a buyer finds your product and has some questions for you, make sure that you are available for those as that will ensure repeat business going forward.
After a buyer has made an offer for the product, it is communicated to you through the website. As soon as the seller confirms the offer, the product is considered sold and removed from the websites available items. There are time bound auctions where prospective buyers can keep bidding and a person can have multiple bids; the website will show the average bid amount at all times. In this case the website may allow for proxy bids. Proxy bid is when every buyer quotes the maximum price that he/she is willing to shell out and the website automatically raises their bid to it if another bid crosses their first offer price. this is done by the website itself and your authorization isnt required for it. This gives everyone an equal shot at winning the auction.
As the final step, look into other sites and their reviews on forums and blogs, before deciding on the actual site. Only after this should you invest in a particular auction site.
by: Rakesh Vasoya
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