Published on December 19, 2016
1. LIVE AUCTIONS VS. TIMED AUCTIONS Online auctions are increasingly becoming popular as people do more things online. You have probably heard of or participated in an eBay auction. This is a timed auction where the highest bidder at the end of the predetermined time wins. This differs from live online auctions where bidders bid until nobody wants to go any higher.
2. BIDDING TIPS IN A LIVE ONLINE AUCTION Make a budget beforehand so you don’t go overboard or don’t bid because you’re unsure. Review items and research their value to know how much you should bid before you pay too much. Make a preference list so you don’t use up your budget on items that weren’t as high on the priority list.
3. GENERAL TIPS TO KEEP IN MIND Make sure to be on time. If you’re unsure of whether or not you can make it on time, submit an absentee bid. Choose a reputable auction house like Federal Assets Auctioneers to ensure the items you bid on are accurately represented. Test your internet connection beforehand. If it’s in and out, go somewhere else where the signal is stronger.