What Can Prevent You from Winning an Online Auction?

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Information about What Can Prevent You from Winning an Online Auction?

Published on November 28, 2016

Author: FederalAssetsAuctioneers

Source: slideshare.net

1. What Can Prevent You from Winning an Online Auction?

2. Online Auction Points to Keep in Mind  Online auctions are either timed auctions or real- time auctions.  For the purposes of this presentation, we’re sticking to real-time auctions as they are quickly becoming more popular.  The following scenarios are very common, but easily preventable.

3. Not Signing Up  In order to bid in an online auction at Federal Assets Auctioneers to become a member of the various online sites that host Federal Assets Auctioneers auctions.  These include Invaluable and many other online auction platforms.  Sign up is usually free and only takes a few minutes.

4. Getting There Late  Online auctions that are live are decided in minutes.  This makes it more exciting and convenient for the bidders, but only if they make it to the auction on time.  If you believe that you won’t be able to make it on- time, submit an absentee bid.

5. Know Your Number  You want to have a good idea of how much the item you are bidding on is worth. Underbidding and overbidding won’t help you win the item at a fair price. Research the market to determine how much your number is worth.  In addition to that, remember to consider your own budget so you’re not buying an item you can afford.

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