The Penny Black

The Pros And Cons Of Auction Sales   by Owen Jones

Auction sales are helpful for all types of items, but there is a need for caution, because you will not have sight of the item itself. This does not have to be a problem if you are buying something like bedding or dog’s food, but it can be vital if you are purchasing collectibles where condition is of prime importance.

For example, the condition of stamps and coins governs the item’s value within the constraints of the year’s or issue’s minimum and maximum catalogue values. However, you only see a picture and it could be of another coin or Stamp – what you receive in the post might be a different kettle of fish.

In this piece we will look at the most important pros and cons of auction sales. First, the benefits:

Auction sales can be tracked from the opening auction bid to the end and you can make a decision how much you are willing to pay over a fairly long period of time – days or weeks rather than minutes at an off line auction. You still have information at hand like minimum sale cost. This gives you lots of time to weigh up alternative sales outlets.

There is a opportunity that you can buy objects at well under market value. For instance, numerous items do not have a reserve price, so if the device is not in demand among loads of people, you may get it very cheaply. Also, if the minimum price is not met, it is worth getting in touch with the vendor and offering a little more for a private sale.

If you go through a reputable on line auction site, you will be covered against fraud. If the device you receive is below par for the description of it on the website, you have a excellent chance of receiving your money back either from the dealer, the auction site or your credit card firm – three layers of protection.

However, there are disadvantages too. These are the ones that most bidders think are the most significant:

You are buying sight-unseen, so there is a greater risk of fraud, but as we said above, the auction site and your credit card company do have a degree of liability, so please check what that is before you go bidding (or even shopping) on line.

Check the postage and packing charges. This is a favourite way of bumping up the minimum charge for something. For example, a set of batteries may not have a reserve and you might be glad to purchase them for a dollar, but if the postage is ten dollars, you have been had.

Another favourite scam is selling copies. You might think that you are bidding for genuine Gucci sunglasses, but really the chances are that they will be cheap Chinese fakes worth a tenth of what you paid. Would you honestly know the difference? Honestly?

You can find a bargain on an auction web site, but remember that there are a great deal of hungry people out there who are prepared to lie to earn a couple of dollars and that does not even include the professional cheats and thieves.

About the Author

Owen Jones, the author of this article, writes on a number of topics, but is now involved with sales force automated software. If you want to know more, please visit our website at Sales Force Tools
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