An auction is the selling of any type of product or service to the highest bidder. Auctions usually have many products or services up for sale. The auction is advertised, and many people come to see what they can get at a good price. These people are each given a number that they use to place their bids. The auctioneer starts off with one product and gives the crowd a starting price. The audience then has the power to bid a higher amount by holding up their number and stating the price they are willing to pay. The last person to make a bid is the highest bidder and the winner of the item. Auctions are usually arranged for charity, to raise money, or to recoup lost money. I guess You know this by now, but still for more information click here
There are three basic types of auctions. There are the auctions where you get to scream bids at the auctioneer, and there are the silent auctions. Then you have your online auctions. Regular auctions allow people to bid live and in the moment. A product is won in a matter of seconds or minutes. In a silent auction, you place your bids on a piece of paper. You can see if anyone bid higher than you. You write your name, address, and bid amount on line A and the next person comes along and writes their bid on line B and at the end of the night the person on line Z wins. This type of auction can last hours. Finally, there are online auctions which can take anywhere from 3-9 days. You place your product up for sale and people log on and place bids with their computer. The computer keeps track of who the highest bidder is and then informs them when they win. When you arrive at an auction you must register. This doesn't take long, and the the staff will assign you a number. Most of the time the number is on a stick. You then need to take your time looking over the items up for auction. Inspect any of the ones you want to bid on to make sure they are not damaged in any way. Decide how high you are willing to go on the items you plan on bidding on. This will prevent you from going over your budget. Make sure you are seated when it is time for the auction to begin. When your item of interest comes up for auction, you can begin making bids. If you no one bids after you, then you are declared the winner, and, when the auction is over, you will have some paperwork to fill out and you will have to pay for your item. You can then take it home with you. Online auctions are great because you can set them up and forget about them. The computer takes over and does all of the work. When you have an item you want to put up for auction, you need to take pictures of it. List your item with as many details and pictures as possible. The more info you give, the more comfortable someone is going to feel about buying it. Make your listing stand out with different background, fonts, and sizes. Start your bid low to attract bidders. You can put a cap on how much you are willing to accept so you don't have to fork over a $100 product for $5. You then set the amount of days you want your item up for auction. This can be anywhere from 3-9 days. Make your auction live and then wait. The computer will let you know who the highest bidder was. You will collect payment from them, and then you pay your listing and selling fees.
Car buying is no longer limited to visiting a local car dealership or perusing the "for sale by owner" ads in the paper. Learning about buying and selling cars online may enable you to find some rare deals that are just a few states away. However, there are some risks associated with this kind of transaction. Read on and learn more about online car transactions, which tips and tricks can make the difference for a good or bad experience, and how to ensure that you are not losing money on the deal.Buying and selling cars online started out as a venue for collector cars that were hard to find locally, and for which prospective buyers would be willing to cross several state lines to drive or tow them home. Since then, the market has opened up to cars and trucks of any make and model, and it is not unusual to see Corvettes listed next to a Camry. Used and new cars are for sale, just like there are cars which are no longer running but are sold for parts. The most famous site for buying and selling cars online is eBay Motors. This part of eBay works much like the regular auction site, and with the click of the mouse you may bid on any car you choose--if you are able and willing to pay. The Auto Trader website is a listing service that allows interested parties to list their vehicles online and in a magazine. There is no bidding associated with the transactions. If you want the car, make the deal. Narrow down your search to the kinds of vehicles you are interested in buying online. Shop around locally to find out what similar cars are selling for. Check the car value with trusted online sites, such as Kelley Blue Book or the somewhat more accurate Edmunds True Market Value (a link is posted in the Resources section). Estimate your travel costs. Add these travel costs to the market value of the car you are buying--this is the actual amount of money you will spend. Determine if any deals you are looking at online really fall below the pricing guide or are right on--to make the bid, trip and transaction worth your while--or if it is cheaper to stay local and buy the car you want from a dealer or private party. Whenever possible, do business with a seller who has a verifiable, positive track record for buying and selling cars online. Price your car accurately by using Edmunds or another pricing tool. Estimate how much money you need to make to turn a profit. This is especially important if you bought the car you want to sell online at auction and had to do some repair work. Represent the car as accurately as possible. If it has dings and dents, list them. Do not risk a bad auction feedback or civil action against you for misrepresenting the car. Run a CARFAX report to protect yourself from selling a stolen car or one that was previously salvaged. Remember that you are doing business with someone you do not know and, if you are buying a car, you are virtually buying it sight unseen and without a test drive. Request from the seller a CARFAX (a link is posted in the Resources section) report that clearly shows the car's vehicle ID number. Discuss terms under which you can withdraw your offer to buy the vehicle, without suffering any repercussions. Moreover, ask for up close photos via email that detail common problem areas, such as the underside of the car, the upholstery, and the sides of the car most commonly affected by parking lot dings and dents. After bidding, take a buddy with you to pick up the car. This protects you personally and also allows another set of eyes to look over the car before you accept the keys and drive off. n the case of fraud, eBay Motors offers a vehicle purchase protection program that may reimburse a buyer up to $50,000 per car. This program protects you against paying for a car but fail to receive, buying a stolen car, or discovering that the car does not have a clean title. Buyers are limited to one claim against the vehicle purchase protection program for every six months.
Sellers and buyers who are doing business outside of the eBay Motors program have little other recourse than legal action against one another in case of fraud. Make sure your financing is ready to go before you start looking. Make sure you know how much you are qualified for and that you have proof of that financing that you can either email or fax. No matter where you go to purchase a car, they are going to want to make sure you can pay. If you do not yet have financing set up, Eloan is a good bet. They are easy to work with and work with online vendors all the time (see Resources below.Do your research and know what kind of car you want to get before to start. While you can still look around as you would on a traditional car lot, you can't actually see the car, and test drives are out of the question. Plus, there is such a variety of cars to choose from that you will start getting confused after a few minutes. Know what you want or at least narrow your choices down to a handful before you start seriously looking.Start looking at various sites for your car. A few such sites are listed below in the Resources section. Ebay is also a good place to look, and you can usually get great deals if you are willing to go through the bidding process Ask any and all questions that come to mind about the car. Have the seller send you extra photos. Check out and make sure the seller has a good reputation. You can do this through the Online Better Business Bureau, Consumer Reports or the Seller's Feedback on eBay (see Resources below). Make sure the car comes with a warranty so you can make sure you are happy with your purchase and make sure you are aware of the down payment amount before you agree to purchase.After you agree to purchase the car, send the seller the down payment and proof of financing. The seller will usually want this within 24 hours. Make arrangements to pick up your car or have it delivered. Most sellers are going to want to complete the transaction within 2 weeks of your purchase agreement.
Buying or selling a automobile online has become commonplace for buyers and sellers. Unfortunately, the growth in popularity of this method increases potential scams. Automobile shipping scams are showing up on the web wherever cars listed to buy or sell. Do your research to avoid these costly and sophisticated scams.
List your car for sale with resealable online classified ad sites. When someone clicks on your ad they're able to contact you via email or phone, depending on your set preference(s).
Step 2
Watch for an email from a potential buyer offering a price over and above the advertised set price. The potential scam tends to include as a reason for a higher price a sale that requires you to ship the car to the buyer.
Step 3
Read the email carefully. Another scenario of this scam is finding a car that the price seems too good to be true. Contact the seller directly, asking questions is imperative to avoiding automobile shipping scams.
Step 4
Know the method of payment as a general rule for the scam is to use wire-transfers, Western Union, MoneyGram or escrow payments. These are common payments associated with the scam. Consider refusing to negotiate with these forms of payment or proceed with extreme caution.
Step 5
Deal locally when making a major purchase or sale of an automobile. Many websites focus on car search availability in your zip code. Websites that focus entirely on buying and selling cars via online classified ads are associated as a set up to bait people for an automobile shipping scam.
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