Bids online auctions allow buyers and sellers to get a wide range of goods and services on one huge platform. With an endless range of merchandise goods to choose from around the world, online bidding is the only method through which traders can meet many customers.
The online bidding process can, however, be quite stressing for the new traders. In this write-up, we will provide a step by step process of how you can join the bids online auctions and be successful.
This is the initial step. You will be required to register to an online auction site of your choice where you can sell or buy the items you want. Online auctions are just like the local auctions, and this means that you must research thoroughly to know if the site is legit or not. Note that the site may ask for your billing and credit card details.
Once your registration is accepted, enter your maximum bid. The max bid is the highest that you can afford, and you are willing to bid on that specific lot. The bids online auctions platform will then place incremental bids automatically on your behalf to ensure that you remain the top bidder. Although you can return to the sale board anytime and place another bid, it’s always important to use the maximum bid feature. When two clients enter the same maximum, the system considers the one which was entered first.
Your platform will email you the sales progress until the sale closes down. In most occasions, lots close in 1-minute increments unless the online bid is placed within the last one minute for the scheduled period. When this happens, the platform extends the lots closing time by 5 minutes. The main aim of this practice is to stop “snipe” bids online actions, and also give the clients enough time to increase their bids. The period can even be extended for 2 hours. When this happens, remain competitive and use the opportunity to make the best sales out of it. If you cannot do so, we advise you to leave the maximum bid feature.
It’s important to refresh your page even as the auction closes. You can do this by completely refreshing the window of the browser, or refreshing the page of your catalog. The primary importance of updating your page is that it will allow you to see the other incoming bids on your online platform. You will also receive email notifications from your platform asking you to increase your bids in case you outbid.
If you have managed to the best bidder for the lot, you will get a congratulatory email informing you of your purchasing achievement. The platform will also send you a separate email for your total charges invoice, together with the payments instructions and the quote for shipping.
Bids online auctions are fun and thrilling. They are also carried out straightforwardly to allow the traders to get customers for the products. If you wild like to participate in prime auctions, carry out enough research on the site and understand the biding basics. By so doing, everything else will be easy of you.