Sold to the Lady in the Back With the Internet Access!

by Doug Smith

http://web.archive.org/web/20000409144443/www.ed2go.com/news/auction.html

So, your husband and his buddies like to get drunk and play "Viking Attack" in the backyard. What could be more fun than a bunch of drunken overweight guys in helmets with horns swinging swords and axes around and pillaging your neighbors’ houses? You want to surprise "Hubbie the Horrible" with his very own Viking ship. The odds are good that you'll locate just such an item, and a good deal more, at one of the many auction sites flourishing online.

The online auction business is literally exploding. The keys to the success of online auctions are convenience and affordability. You can find nearly anything to bid on in an online auction, from Beanie Babies to computers  to rare music memorabilia. The most common auctions are person to person, but there are a growing number of business to business auctions occurring as well. 

The initial step in the process involves registration of a seller and an item. The seller provides detailed personal information which will be made available to buyers upon request. Buyers must register as well, and provide similar information. 

In addition, many of the top online auction sites maintain a ranking system for sellers. Buyers are encouraged to provide positive and negative feedback for future prospective buyers to peruse. Data is also kept on buyers, so sellers can see if a buyer has a good purchasing reputation or not. 

Online auctions are convenient and affordable for both the buyer and the seller. Online auctions are generally free for the buyer and seller, though the hosting site will usually assess a small fee for each item sold through their service. The global scope of the World Wide Web provides a huge audience for sellers, as well as a vast array of merchandise for buyers.

The process generally works like this: the seller provides the auction house with a description, purchase terms, and sometimes a photo of the item(s) to be sold. The auction will run for an allotted amount of time during which registered buyers can place bids. When the auction ends, the seller usually contacts the "winner" of the auction by e-mail to arrange for payment and delivery. Most sellers and auction services allow credit card payment, which is the preferred payment option, as the buyer can challenge the charge with the credit card company if there are any problems. 

Like everything, there are downsides to Internet auctions. Most reports say that the majority of  auctions are legitimate. When there is a problem with a seller, it usually has to do with undelivered or misrepresented merchandise. Some shady sellers have been known to try to drive up the prices of their own items with false bids as well. 

Sellers have also experienced problems with buyers as well. The number one complaint sellers have has to do with "deadbeat buyers, " those buyers who win an auction and then fail to provide payment for the auctioned item. 

If you are interested in buying merchandise through an online auction, you should first make an effort to understand the rules and regulations of the auction house you plan to use. There should be detailed instructions and even an interactive auction tutorial at the site. 

Next, when you find something you are interested in, make sure you know exactly what you are bidding on before you bid so you don’t get stuck paying for an unwanted item. It is to the seller’s advantage to provide as much information as possible about the item, but if you do have any questions, you should be able to contact the seller by e-mail. You can also ask the seller about guarantees and returns if you are not satisfied or have a problem.

You should also check the seller’s profile and the comments of past buyers in regards to auctions offered by the seller. Try to get as much information about the seller as you can, and look at as many comments as possible to get an idea of the seller’s reputation.

If you do have a problem, notify the auction house. Most houses will investigate complaints, and may take action against repeat offenders. You can also file complaints online with the Federal Trade Commission. 

The foremost auction site is currently E-Bay, with more than 2 million registered users. Bidfind will search other auctions for you. 

Other popular auction sites include: Amazon.com, Yahoo! Auctions, WebAuction.com, and Auction Universe.