Auction sites have played an integral part in allowing consumers to save thousands of pounds every single year. Before major auction websites, converting junk into cash was near enough impossible. What it meant was waking up early on a Sunday, travelling to a car boot sale and probably not selling much, if anything at all. Thanks to online auctions, people can now sell their unwanted items for fair prices, from the comfort of their own home anytime they want.
Of course, for consumers, auction sites represent a huge opportunity to save thousands of pounds each year. With millions of auctions online at any one time, there will always be something of interest. A lot of used items can go for more than 50% less than their original RRP. This means that people can afford things now that they might not have ever been able to afford before.
How to use auction sites
It is still surprising to see how many people do not actually use auction sites to their advantage. Instead of picking up quality products at ridiculous prices, they choose to either not purchase the items at RRP as they are too expensive, or they choose to spend more cash than they should, by buying directly from retailers. The reality is that signing up to a range of auction sites is incredibly easy. The registration process is usually less than 60 seconds in total and people can start bidding instantly.
What types of products are available?
You name it and auction websites will usually have it. Auction sites are popular within every industry and within most households, so there is a great chance to pick up a huge range of goods. Typical items that can be found on these auction portals include the likes of cars, bikes, clothes, furniture and even CDs. This means that everyone that logs onto an auction website will be able to find exactly what they are looking for.
Winning at auctions
Winning at auctions can be a difficult task and can also be time consuming. A lot of people find that they are winning an auction at a reasonable price only to be outbid at the very last minute. It is worth waiting towards the end of an auction before bidding. This will ensure that you outbid others instead of being the one to get outbid. Timing is certainly crucial when it comes to bidding at online auctions. Auction sniping software is freely available which bids on your behalf in the last fraction of a second before an auction ends.
The different types of auctions
Auction sites differ, depending on their aim. Standard bid up auctions are extremely popular, lowest unique bid auctions have grown hugely in popularity over the last couple of years, and are also extremely worth while. They offer people the chance to win auctions at over 90% below RRP. They can do this by paying for their bids, rather than bidding the item up to a value that they consider fair. For example a bidder might choose £1.27 as their bid on a £200 item. The next lowest bid may be £1, but if there are multiple bidders at this price, then this is not unique and therefore, £1.27 would be the winner!