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10 Things To Do BEFORE You Bid On Any Product From An Online Auction
1. Know the value of the product before you bid. Ifthe product is brand new, check to see what priceretailers are charging for it. Only by doing this will you have any idea what price to bid. If the item is used orreconditioned, you will want to pay way less than theretail value.
2. If the product's description or picture isn't detailedenough for you, contact the merchant to get moreinformation before you bid. You don't want to take achance to waste your hard earned money. Not only this butthe way in which the seller responds, ie promptly, pleasantly,and with full details, or the opposite of this, will giveyou more confidence about bidding or you may decide not to bid at all.
3. Work out the highest price you will bid for the productand stick with it. Don't get caught up in a bidding war;you may end up paying more than the product is worth.Add in all the possible extras such as the shipping costs and any import duties and taxes (if buying from abroad).
4. Visit a few online auctions before bidding becausesome merchants auction the same product on differentAuction sites. You may be able to purchase the product For a lower price in an unpopular auction because thereare less bidders.
5. Take a note of the time the auction begins and ends. Youalso want to know how long it will take to ship. You need to have this information if you want the product by a certain date, for instance, as a gift.
6. Find out about the payment options the merchant acceptsbefore you bid on their item. If they only acceptchecks or money orders, it may take even longer toget the product because the payment has to clear. Ifthey accept credit cards make sure they have a secureserver.
7. Check whether the merchant offers a warranty or moneyback guarantee before bidding. You don't want to get stuck with something that does not work or that you're not satisfied with.
8. Most online auctions allow you to check the merchants history with their auction. This is usually their “Feedback” record. Check to seeif people have complained about their products or business practices before you decide to bid.
9. Don’t place a bid early in the auction as this only alerts other potential bidders that you are interested and drives up the price. Wait until the last moments of an auction before bidding if you can. Naturally enough the auction site owners will exhort you to bid early as this is in their best interests, after all, they get more in fees the more an item makes.Remember not to go over your maximum bid price.
10. Following on from 9 above this is another reason to know when the auction ends; you can place a last minute bid. Other bidders may not be keeping track of when the auction ends or may not have the time to bid again.
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