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Online Auctions
By Tomas York, Fri Dec 9th

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Description: Online auctions operate on the same principles asthe real auctions, but they have the mass appeal, which reachesout to the ordinary Internet users. They are an easy and fun wayto buy a product of your choice.

Hearing of auctions always used to bring up visions of a grandroom, with the auctioneer standing on a raised platform, takingbids from dressed up people in a dignified manner, and slappinghis hammer with a bang on the table every time some one won abid.

It used to be something that one saw in a movie or a rich peoplething, which the average middle class person could not associatewith. But with the advent of Internet into every facet of ourlives, be it keeping in touch with friends, shopping and evendating and marriage, auctions have also become a routine part ofan average internet userís life.

There are innumerable auction sites, selling everything from apen to a used car and even houses if you want to bid from them.You think of what you want and youíll find it on one of theauction sites. All you have to do is sign up, get registered andbid a price for that item.

As in real auctions the highest bidder wins the bid, but becausethe online bids take a long time to close, you have theadvantage to checking if your bid has been surpassed and put ahigher price on it again. The sites predetermine the incrementthat you can put on an existing bid. This ensures that theprices are not driven up and more people can stay in the biddinggame.

The bids placed are binding so donít bid on something just forthe fun of it, the sites ensure to take your credit card detailsat the time of registration so you canít back out.


 

You will findthe best deals on the auction sites and the price that you payfor the items by bidding on them will often be less than itísmarket value.

Auction basics

There are a few simple rules that you can follow to get the bestout of an auction deal:

1) Donít stick to a single site- keep looking for better bids onthe countless sites on the net.

2) Always bid on the auctions that will not stay open for a longperiod of time. Longer bids will automatically get more hits,thus minimizing your chances of staying ahead on it. Bids withshorter time limit, for example one that ends in a week arebetter.

3) Most of the items displayed on the site for auction could bemisspelled, which means that not many would have got to thatitem and placed any bids. Always try to search for these itemsbecause the price would always be low on them.

4) Donít bid a higher price than what you want to pay for aproduct, just because you donít want to lose out on it. Rememberthat there are other sites, which will most probably have theitem you want to buy.

A little online research and some patience can get you theproduct you want to buy, at a lower price than the market on anonline auction site. Donít wait, just sign up and have funbidding!


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This page was updated on May 2009 and is Copyright © 2003 by Global Com Consulting Inc.