Published on November 28, 2016
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.