Have you ever sold or purchased a piece of baking equipment from an online auction? Perhaps you’re curious about selling or purchasing an item from an auction but you aren’t sure how it works or you don’t know what sites are reputable? Here are some tips to help you make the most out of the experience:
Online Auction Buyer Tips
Before diving into buying on an online auction, consider the following:
Have you done your research? Prior to bidding on an item, take the time to get as much information on the item you’re interested in. Research the item, the seller, and all of the fine print associated with the deal. How long do you have to pay for your item? When will you get the item you purchased?
Is there an option to contact the seller? Before bidding on an item, send the seller an email to ask questions that may have not been covered in the item description. A good seller is serious about their sales and will most likely respond to any inquires.
What are the hidden costs? Before bidding on an item, be sure to look into all associated costs, including taxes, shipping, delivery, insurance and duties if you’re an international buyer. Some online bidding platforms also charge a small percentage to use them.
What’s your limit? Decide your budget before any bidding starts to make sure you’re not spending more money than you intended to on a specific item. The excitement of the bidding process might take over and you could end up spending more money than you wanted.
How does the seller want to be paid? If the seller is looking for a cash payment, this could be a red flag. Paying with a credit card, or online through services like PayPal, helps with traceability and a reputable seller shouldn’t have a problem with accepting these forms of payment.
Online Auction Seller Tips
Before selling on an online auction, consider the following:
Have you researched the auction site? Before listing an item to sell in an online auction, take the time to read the terms and conditions so you fully understand the rules, policies, and procedures.
Have you researched your item? Do you know what the product you’re selling is worth? Are there similar items to the one you’re selling on the site? If so, what price are the items starting at, and what are the items selling for? This information can help you determine a realistic starting price for your item.
Are payment options and shipping fees disclosed? When it comes to shipping and handling fees, be honest. If you’re selling a large piece of equipment, be up front about how much it will cost to get the item shipped.
The more payment options you accept, the more likely your item will be bid on. If you’re accepting cheque or money order, be sure you receive the payment before sending the buyer the item. There are great services online, such as PayPal that are recommended to use on various online auction sites.
Does your advertisement include the right things? When you’re preparing your listing, be sure to include pictures – the more the better. Incorporate keywords, such as brands, as well as catchy headlines to grab the attention of buyers. Be sure to include a detailed description of the item, along with the item’s history, any defects, and why you’re selling it. Some auction sites will let you upgrade your listing for a small fee to include bold or underlined words; if you’re serious about selling the product, this might be something you want to consider.
Do you have a presence on the site? If the option is there, be sure to take advantage of creating profile about yourself and what you’re selling. It’s also a good idea to participate in the feedback program as it can help you build a reputation and credibility in the online auction space.
Whether you’re looking to buy or sell an item on an online auction, the more time you spend doing research and getting ready for the auction, the better your experience will be.