Archive for May, 2022

The World of Online Auctions: Part 3 of 3

What can you expect as a buyer?

Welcome to the final part of our series on online auctions. This method of buying and selling has become increasingly popular, especially with the current pandemic and ever changing public health measures. 

So what can you expect as a buyer if you’ve never used an online auction? There are many sites to choose from in the world of online auctions: Ebay, MaxSold and AuctionMaxx in Toronto just to name a few. Although each auction website will vary, there will be similar steps across each platform.

To start, most sites will have you register as a buyer, which will require you to provide basic personal information, as well as a method of payment for any items you may bid on. Once you have signed up you are ready to begin your online bidding. Depending on the site, you may be able to search for a specific item or you can scroll through the auction catalogue to view items. 

When you have found an item you wish to bid on, place your bid. Many sites also give you the option of placing a maximum bid, meaning the highest amount you are willing to pay for the item. In this case, your bid will be automatically increased––the amount increase will depend on the site––up to your maximum amount every time someone outbids you. 

If you outbid the competition then you win the item. Buyers are not able to take back their bid once they have won. Pick up arrangements will be specified on the site or the item may be able to be shipped depending on the conditions of the sale. 

Hopefully, this has taken some of the mystery out of navigating an online auction site. It is a convenient and easy way of buying items that can also be socially and environmentally responsible. Happy bidding!

**much of the content of this article came from maxsold.com/blog

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The World of Online Auctions: Part 2 of 3

Who uses online auctions and why?

So we’ve defined and explored online auctions. Now let’s discuss who might use such a platform and why? 

The popularity of online auctioning has exploded in the past few years. A survey conducted by the National Consumers League in the U.S. found that one third of American adults, approximately 35.6 million people, have participated in online auctioning. 

Sellers using online auctioning platforms can range from companies selling excess product to private sellers auctioning single items. A company or small business may also use an online auction to test a product and assess how the market responds before moving forward with mass production. 

Private sellers may opt for auctioning items online for a variety of reasons. For many, the current pandemic has driven online selling as a way to avoid group gatherings. Many sellers also tend to be sustainably minded and prefer to try and sell items they no longer need rather than donate them or take them to the dump. You may be an antique dealer who wants to reach a wider audience. Online auctions also allow individuals with large collections of items from estates or downsizing to sell their items quickly and with minimal effort. 

At Just In Time Solutions we like to use online auctions for various reasons, some we already mentioned above; they get into the hands of people that want or need them, keeps items out of our landfills, empties an estate quickly and we get a wide audience.   Sign up for our mailing list and we will let you know when the next one airs. 

There are many reasons why businesses or private sellers may choose this method of selling. Public safety, sustainability, ease of use and access to buyers are only a few. 

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The World of Online Auctions: Part 1 of 3

What is an Online Auction?

As our world becomes more virtual with the ongoing Covid-19 pandemic, the world of online auctioning is growing. Still, many people haven’t heard of the term. 

In this three-part series we will look at what an online auction is, why you would want to use it and how they work? 

So what is an online auction? An online auction takes place via the internet and allows users to sell or bid for products online. eBay is a familiar name to most and an industry leader in the world of online auctioning. 

Online auctions allow sellers to reach a large audience unrestricted by location.. The type of buyers attracted to an online auction can vary widely. The virtual platform often attracts younger buyers, stay-at-home buyers and buyers who may be looking for only a few items. Many buyers are sustainably minded, attempting to keep usable items out of landfills. 

Since the conception of eBay in 1995 the world of online auctioning has exploded. The recent lockdowns and in-person restrictions have only furthered their growth. 

There are numerous platforms available for selling items online. They offer a variety of auction styles, access to buyers and ease of use. 

Join us for parts 2 and 3 of the series where we will look at what online auctions can offer you as a buyer as well as what you can expect when you use an online auction site.

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