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ONLINE AUCTION SITES
Welcome to the Internet's biggest bargain bin! Online Auction Sites are a collector's paradise and a discount diver's dream. Just like real-life auctions, these online ones offer items to the highest bidders. Fairly simple and loads of fun, auction sites offer shoppers two things: a chance to save some major dough and find some rare collectibles.
There are two basic types of online auctions: Business-to-consumer (where companies offer new and refurbished items at auction prices) and person-to-person (where regular folks just like you put their personal items up for auction). Either way, you can find tons of great deals on unopened CDs, movies, appliances, cameras, clothing, vacation packages, electronics and more, as well as garage sale finds like used furniture, antiques, original artwork, comic books, baseball cards, Beanie Babies, you name it.
| ONLINE SHOPPING TIPS GOING, GOING, GONE! Online auctions can be a lot of fun, but they also can get quite competitive. Here's a few tips to help you snag that special item. - Be patient. Most auctions run for 1 week. By placing a bid on the first day, you're just helping jack up the price a bit. Instead, wait until the last day or two and see if the item's still in your price range. - Be wary. Sometimes bidding can get fast and furious, with prices taking huge leaps in a matter of minutes. Thing is, you might not really be competing against other bidders. Those jacked-up prices might be from the item's owner or a friend who's just trying to artificially inflate the bidding. There's not much you can do against this, other than researching the bidder, so just be aware of it during the fury of bids. - Be sneaky. If you really, really, really want to win an item, don't bid on an item right away. Instead, wait until the last few minutes of an auction to place your bid. Then keep watching the price until the absolute last second, bidding again if you're outbid at all. |
So how exactly does an online auction work?
While every auction site is different, the general rules are the same: you find an item you're interested in (through categories and search engines on the site itself), bid against other consumers and at the end of a specified time limit (usually 3-7 days), the highest bid wins. Let's say you find an original Barbie Dream House up for auction. It's just like the one you had as a kid, and you've gotta have it. Okay, so what happens next? Well, usually there'll be a picture of the item, along with a detailed description of its condition, contents and any specifics regarding shipping and handling.
You'll also find a starting price: let's say $10. If no one else has bid yet, go ahead and enter the maximum dollar amount you're willing to spend. If you enter $15, the site will list the item's current bid at $10. (In other words, you're telling the site that you're placing the starting bid of $10, but you give it permission to increase your bid up to $15 if anyone bids against you.)
When someone else bids above $10 (let's say $11), the current price jumps to $11...BUT since your maximum bid of $15 is still higher, the current price jumps to the next increment (usually $1) of $12. You're still the highest bidder. As long as someone doesn't bid more than your $15, you're safe. And when someone else bids $20, they beat your maximum bid and get the current increment of $16. When that happens, the site will notify you via e-mail that you've been outbid. You've got two choices: give up and forget about owning that Barbie Dream House you grew up with...or get back on the auction site (the e-mail should give you the exact link for the item you bid on), place a new bid and start the process all over again.
Auctions go on for specified time limits (1 day, 3 days or 7 days generally) and the highest bid at deadline is the winner.
Woo hoo! I won an auction! But... uh... what now?
Congrats! You won that Dream House for a mere $50! Now, the bidder (that's you) and the seller (the person who put the Dream House up for auction) need to get in touch with each other and arrange final payment and delivery. The auction site itself doesn't send you the item or take your money -- they're simply a middleman for you and the seller to find each other. (Don't worry, these sites make money by charging sellers a small fee to list their items.)
Cool. But how do I make sure that I don't get ripped off?
Well, just like any other shopping site, you have to be careful with person-to-person auctions. Popular ones like eBay or Amazon.com are quite reputable, so they're a great place to start. But it's the seller (not the site) you should really be wary of. The best thing you can do to protect yourself is research before you bid. Most auction sites generally have a number after a seller's name representing the amount of positive comments other people have posted about the bidder. You can easily view those comments and see what others have to say.
But what if I already won an auction? What can I do to be safe?
For protection after you've won an auction, there's a few things you can do. Pay with a credit card whenever possible; if something goes wrong, you have a record of the transaction and a good chance of getting your money back. For sellers who don't accept credit cards, there are now online sites such as Paypal.com and eBay's Billpoint that link to your credit card or bank account, allowing you to make instant payments. Also, not every seller will agree to this, but trying paying Cash On Delivery, so you don't pay a dime until the item's at your doorstep. Then there's any number of Internet Escrow services (like Tradenable) popping up, which will hold your money until you receive your item, at which point they pay the seller. Whatever axiom you choose, just DON'T SEND CASH. Anyone can rip that envelope open and run away with your dough. Instead, use a check or money order if you must.
What if I'm ripped off and the seller won't give me back my money?
If you've won an auction, but the seller's jerking you around, not responding to your e-mails or just flat out refusing to send your item, it's time to notify the auction site itself. Contact customer service and explain the problem -- make sure to include your username, the seller's username and the full details of the transaction. Things won't always work out, but at the very least, the site's aware of the seller and may revoke his selling privileges so this won't happen again.
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