The online auction sites offer great options for people to buy used items from international and local sources. Another advantage is that online auctions allow you to access different items at the comfort of your seat, whenever you want. You can also sell your new or used items through the same auction sites whenever you feel the need to do so. A good number of individuals have amazing experiences with the online auction sites, a clear indication that indeed online auctions work. When you consider the safety tips highlighted in this guide, you too can enjoy a positive and rewarding experience when buying used products from the online auctions.
#1. Learn How the Auction Site Operates
In the normal case, an auction site has the rules set out for both the sellers and buyers. Before you can start bidding, it’s imperative to learn how the site functions, and the policies and rules for both the sellers and the buyers. Look for information about the payment methods used. Is it possible for you to use safer payment techniques such as credit cards? Are there online payment systems which link you your card and conceals the number of your account while paying? These are important aspects worth having in mind.
Apart from that, check their privacy and security. Find out how your personal data will be protected by the site. Ensure the pages of your registration, sign in, as well as payment pages have been secured. If the URL on a specific page starts with https, then you should know that your information is secure.
You can also confirm how disputes are handled in the site. Will they assist you in resolving a dispute with a client? Will your money be refunded in case of defective goods? All these are essential aspects you need to consider when using an auction site to acquire products.
You can learn more about auction inventory at www.equifyauctions.com.
#2. Check the Seller
When planning to buy from an online auction, make sure you find a seller who is willing to accept safer payment methods such as an escrow service or credit card. Do not accept to do business with a person who only accepts cash, wire transfers, money orders, or even reloadable cards that require topping up every time you want to pay. Using these techniques is tantamount to sending cash because once the money has been sent, you cannot get it back.
Apart from that, you will also need to check the rating of the seller on the side and go through the reviews offered by previous clients. Find out whether or not the recent customers were satisfied with what the client has offered. If for some reasons you feel you are not comfortable with the seller, you should simply trust your guts and avoid bidding.
Go through the contact information of the seller and ensure there is an email included. If you are interested in buying a specific item, but there are unclear details about the listing, contact the provider or seller before you can start bidding. If they fail to respond according or you are unsatisfied with their response, you can avoid the bid.
You also need to note that every seller has their own way of doing things. If a service – such as the right to return a product or a warranty – means so much to you, find out if the service is being offered before you can begin to bid.
#3. When You Bid and Pay
Before you can start to bid, find out how much you are willing and able to spend and make sure you stick with the amount. In some cases, “shill bidders” – working on their own or with the sellers – bid on a product intentionally so the price can go up. When calculating your bid, you should also consider other costs such as handling, taxes, or shipping. When the bidding process ends and it turns out you are the highest bidder, print and save copies of the final price as well as the description of the item. Pay for your product within the deadline set by the site and the seller using your credit card, an escrow service, or any other secure payment service which is recommended by the auction site. Whenever you pay using a credit card, your transaction is protected by the Fair Credit Billing Act. This allows you to file a dispute in some instances and temporarily withhold payment as investigations are conducted.
#4. Avoid Scams
There are numerous scammers online. Most of them are after your money and your financial data. To avoid getting scammed during an online auction, make sure you don’t hit “reply” or follow links given in an email. Even when the message appears to be from an auction site, do not be tempted to click any link offered because you may land yourself on a spoof site which imitates a legitimate auction website. This could be a scam that is directed at stealing your financial information and your money. Apart from that, you may be tricked into downloading a virus or malware that could hold you at ransom.
To confirm your messages, simply log in directly to the site. Type the web address of the site in your browser and sign in. if there is a message sent to you by the auction site, you will see the message in your account. From there, you can decide whether or not to respond to it.
Additionally, all communications must be done through the auction site. Do not deal with a person who wants to make a payment outside what has been allowed by the site – whether it’s a money order, cash transfer, or any other cash equivalent. If you make payments through other unknown avenues, you will end up losing your money and the item as well.
The above approaches will help you to buy used auction items securely online. However, if you encounter a problem during an online auction, make an effort to sort things out with the auction site and the seller. In case you find this approach is not working, file a complaint with your attorney and the Federal Trade Commission.