Online Auctions and Tips
http://online-auction-sites.toptenreviews.com/
Top 10 tips for buying at an online auction
By
Bridget Galton 12:39PM BST 02 Oct 2013
1. The estimate is just an indication
The
estimate is just, merely an indication of what the piece is worth.
2. Do your research
Get
as much information about the item before you start, read the in formation
carefully in advance and don’t be afraid to email the auction house in advance
for more photos or information.
3. Choose your limit
You
can get emotionally caught up in the thrill of the moment and continue bidding
beyond what you can afford.
4. Look out for extra charges
Check
additional charges before you did.
Auction houses usually charge 15-25 per cent commission on top of the
hammer price and some online bidding platforms charge 3-5 per cent to use them.
5. It is a contract to buy
when the auctioneer bangs the gavel down at the end of bidding,it establishes the hammer price and it is a contract to buy.
6. Place an absentee bid
this authorizes the auction house to bid on your behalf to secure the lot at the lowest possible price.
7. keep an eye on the deadline
you receive email alerts as other bidders top your price.
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