Archive for May 23rd, 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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