You are undoubtedly aware of auction shopping. Industry names like Raffan Kelaher & Thomas, Vickers & Hoad, Charlestons Fine Art Auctions, and Bonham offer high-quality, rare, and antique items for sale to the highest bidder. Check out the dedicated section on eBay, Market Place, Easy Live Auction, Amazon, or Jumblebee for, bidding, silent auctions, and charitable giving.
Make use of the free and fair competition in bidding to find what you want and how much you are willing to pay. Patience and attentive shopping can result in excellent deals and bargains. I have seen auctions for homes, farm equipment, vehicles, military equipment, machinery, and a diamond auction online – Jewelers Manufacturers Association.
Traditional retailers are closing doors at impressive rates due to the ease, safety, and pricing of online retailers and auctions. There are more advantages to auction shopping.
- We all get the same chance and once the hammer falls, the property is yours.
- Everyone gets the same opportunity to observe and assess the item for sale to make a well-informed bid.
- In a store, necklaces, bracelets, brooches, and earring prices are marked up to meet their profit needs. At an auction, pricing models start at wholesale or the true market value of the material.
- We can shop the entire planet for any sales on any item. There is no need to go to a store to sift through things you don’t want or aren’t looking for. Save time, fuel, and frustration.
- As a seller, we can reach a massive audience. The larger the audience the better chance for increased sales prices.
- When selling an item online we get better control to create, edit, and monitor our sales listings.
- We get notifications and can respond directly and quickly to buyers’ questions offering better customer experiences and repeat business.
Australian police, government, and estate auctions can contain thousands of items from pursuit or armour vehicles, to housewares, and confiscated items. Allbids.com is a site that lists unique online auctions. Our government uses bidding for construction, services, and resource contracts.
Individual discernment at auctions should result in better purchases for less, which seems contradictory to the government bidding process, at times. A recent example of poor government bidding is the AuKus nuclear sub deal. Delays and cost overruns are not uncommon, so better bidding could stretch the taxpayer dollar.
Take your time and do your research. Gather information on what you are interested in. Assess other sales history and market value to set your purchase value limit. In-person auctions require your attention to absentee bids, as they can drive the price up quickly through multiple bidders.
As a seller, set your reserve price. The reserve price is your minimum price to sell. If that isn’t reached the item will be relisted, or the sale is cancelled. Similar to setting your purchase cap while buying, your reserve price is important to effective auction sales.
Stop dusting things you aren’t using and turn them into capital for investing in what you will use.
