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Tuesday, December 11, 2007

Easy to Follow Online Auction Guide

The first thing you must know about auction sites is that you cannot possibly get a bidding number without registering with the auctioneers.

It is very important to know what objects are being put up for auction. Most certainly, one should spend some time and inspect your prospective purchases before the auction starts.

You will be surprised to see how many different things can be put up for auction. No matter if it is electronics, cars, clothing, apparel, collectibles, sporting goods, digital cameras, antiques, tickets or jewelry, anything may become a bargain for the bidders. When a category you are interested in bidding on comes up for sale the auctioneer will announce the lot number and will provide some details about it.

The bidding will start with the price of the object directly suggested by the auctioneer. The first actual bids can be below this price, provided that the item has a reserve price and the auctioneer will reduce the start bid towards the reserve price, until a bid is made.

There is a special way a person may bid: you must get the auctioneers attention by raising your hand or making some other clear gesture to the auctioneer followed by the amount you wish to bid if different to the auctioneers announced price. The auctioneer will expect you to raise your offer every time someone is a higher bidder than you are. One must clearly indicate him whether or not you wish to continue.

The auction will go on until the amount of money will be higher than any other bidder is prepared to spend on that specific item. This price must be above the items reserve price. Only then can you say that you have been successful in your purchase.

No matter if the auction you have participated in is an online auction or, let’s say a Dutch auction, winning a bid makes you pay an immediate deposit. The catalogue of the auction usually settles the amount of deposit and the type of accepted payment methods.

Should the items for auction be heavy or difficult to move, the auctioneers will have a specialized company carry it. Therefore, before getting your eyes on a very large item, be sure to ask whether a removal option is available at that auction.

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