Quick Tips on Auctions and whether they’re right for you
A few decades ago, the word ‘auction’ was reserved for day-time TV shows and descriptions of dingy sale rooms filled with bric-a-brac. Today, however, auctions are enjoying a renewed popularity, largely thanks to their online presence. They’re a great means of purchasing vintage, eye-catching antiques and items easily without having to leave your sofa. From jewellery to art to cars to houses, auctions have the potential to appeal to everyone. Here are some FAQs to help you on your way around the auction web:
Are the auctions easy to use?
In order for their sites to be a success, auction companies must design them to be as accessible and easy to use as possible. As a result, most auction websites are easy to navigate and use. Most auctions are real-time auctions; the online facility is to enable buyers who can’t attend an auction room to participate. With a real time auction, participants have the option to follow the auction on real time, or leave a bid.
Can I trust buying objects from online auctions?
It’s not uncommon for potential bidders to be wary about buying and selling items online. If you are concerned that a sales room might not be genuine, have a look for reviews of the auction room and see how other people have rated its service. Places that have plenty of reviews, like Ross’s auctioneers give you a sense of authority and legitimacy.
What are the advantages?
Online auctions are popular thanks to their accessibility, ease of use, and convenience. Online auctions also enable bidders to bid in a style that suits them – namely by either following auctions in real-time and placing real-time bids, or placing a one-off bid prior or at the beginning of an auction.
What will I know about the items?
Most auction sites feature a photograph of each lot, along with an in-depth description of the item. If the photographs available aren’t of a good quality or you aren’t sure about an aspect of the item on sale, most sites will have a contact number or email address through which you can request more information.
Can I view the items?
Online auction sites are popular because they allow individuals to participate in auction buying and selling without leaving their homes, but many online auctions also offer bidders the opportunity to attend auction and sit in on the sales in real life. As such, many online auction rooms operate in a similar way to typical auctions, allowing bidders to come along to the auction rooms and view items before they go on sale.
I’m thinking of selling my item – can I do this online?
Most online auction sites aren’t online retailers; instead, they function as a host platform for various sellers looking to show their items to a wider number of potential buyers; as a result, it’s easy for buyers to find a site on which they can sell items. As with all auctions, a commission fee of approximately 20% of the sale’s item is charged once the sale has completed. Many auction sites also provide their sellers with a valuation of some kind on their item.