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Learn How To Get The Best
Buys at Online Auctions
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A recent three-year Online Auction survey conducted
by Charles Wood, at the Mendoza School of Business at the University
of Notre Dame in Indiana and colleagues at the University of
Minnesota reveals:
1. Item Auction Ads with a photograph, yield 11
per cent more profit, compared to a similar item without a picture.
2. They also found that auctions that last longer
attract more bidders and end up attracting higher sale prices.
Many Auctions benefit higher profits from recreational bidders.
Those bidders that are using auctions as a form of entertainment.
3. Trusted sellers will get higher prices.
Also another recent Auction Survey results have
revealed the following:
4. Most people bid in an online auction because
there looking for bargains.
5. A seller's track record is almost always checked and if no
info is available, other information sources are considered.
If no information abbot the seller at all is found, most won't
bid.
6. The average auction item price is under $100.
7. Most buyers prefer paying by check or an online credit card
facility such as Paypal.
OK So How Can I Use this Information:
Here's 7 Steps
To Get The Best Online Auction Prices
1. Use Sellers that don't have Pictures. Statistics
say that you'll save 11% on average over items with pictures.
There's a caveat here however, e-mail the seller an ask very
specific questions about the item to determine it's worth to
you. If they lie to you, it's evidence to help get your money
back.
2. Use auctions that end during the week. That's
usually a sign of an inexperienced seller. At the very least,
an auction like this will not do as well as one that runs two
weekends.
3. Look for sellers that are new. If they don't
have an about me page or web site and little or no feedback,
that's a good indication. Be aware however that many auction
posters that have had problems and may have been banned and
may be using a new name. It's a good idea to e-mail them and
ask questions that you can evaluate the seller better before
a bid.
4. Use snipe tools to do your bidding at the very
close of an item that you want to bid on. See our recommended
free Auction
Snipe software from Hammer Tap.
5. Low Bid on items that you know have a high
value if requirements 1 - 3 are met.
6. Always ask about return polices of the seller,
pay by credit card only because if there's a problem, you have
more leverage to deny payment. Use paypal services for this.
They are very reliable and have good policies supporting buyers.
7. Look for misspelled items. An example of this
could be that when you look for an item you search on name variations.
Let's say you looking fro a Gateway computer. Search on Gatway
and find items that were enter with spelling errors. The chances
are that these items will have less bidding competition.
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