~ ONLINE AUCTIONS

 

Retail sites are not your only option when shopping online. You can also bid for your dream items (vintage Elvis toaster, anyone?) in online auctions.

 

eBay and Other Auction Sites

 

The most popular online auction site is eBay, though there are many other sites that offer similar services, including QuiBids, uBid, and eBid. These sites all offer services that are similar to a silent auction, meaning that anonymous bids are submitted through the site for a specific item and the item goes to the highest bidder.

 

eBay was founded in 1995 and the first item sold on the site was a broken laser pointer. Since then, eBay has expanded internationally and has annual revenues of almost $7.7 billion. It is considered the most reputable online auction site and is frequently referenced in pop culture.

 

Each item on these online auction sites is listed by an individual seller—eBay and the other companies do not list these items and you will be dealing with an individual person. eBay does offer buyer protections; for example, if you never receive an item that you won in an auction, eBay will refund your money through PayPal. This makes buying items through these sites less risky for you.

 

Searching for Auctions

 

eBay allows you to search for an auction by category or by item keyword. From the eBay home page, you have options to browse by category or enter a term in the search box at the top of the screen:

 

 

Each category includes further subdivisions; for example, Home, Outdoors & Décor includes Home & Garden, Hobbies & Toys, Baby, and more. From there, you will find even further subdivisions of categories.

 

If you choose to use the search box to look for items instead, be sure to use as specific keywords as possible. If you are looking for a Batman lunchbox, be sure to use both the words “Batman” and “lunchbox”—this way, you won’t get everything to do with Batman or every style of lunchbox. After you run your initial search, you can also use the options on the left side of the screen to specify cost, condition, brand, size, or color.

 

You may also perform an advanced search, which is located right next to the search box. By clicking on this link, you will be taken to a page that allows you to search by other options, such as location, shipping options, currency accepted, and more.

 

 

Some auctions have a “Buy It Now” option, which means that the seller has set a price that they are willing to accept to just let you buy the item. This is only available before anyone else has bid on the item, and is usually a bit (or a lot) more expensive than the starting bid. However, it does take away the stress of a bidding war. You can also choose to search by items that have this option. Some sellers will also accept the best offer.

 

 

Your search results will be sorted by the “best match” by default, but you can choose to have them listed by time remaining in auction, price, or distance, depending on your preference.

Bidding Online

 

Just as you are required to create an account to buy things on retail sites, you are also required to create an account on eBay to buy or sell items. From every eBay page, there are links to both “Sign In” and “Register”:

 

 

This allows for more security than Craigslist.org and allows you to keep track of your searches, leave feedback, and use other services. By requiring sellers and buyers to identify themselves in some way, eBay is then able to monitor behaviors and keep disreputable people at bay.

 

By entering your personal information, such as your name and address, this will tell sellers where to ship the items that you have won. It will also allow for accurate calculation of shipping costs. By entering your phone number, you can recover your account password if you forget it later.

 

You will also need to create a user ID and password. The user ID will be displayed to other bidders and the seller instead of your name. You must also pick a secret question, in case you forget your password.

 

Once you’ve completed all of these steps, click “Submit” and eBay will send a confirmation to your e-mail address and you can start bidding!

 

 

Feedback Score

Once you’ve found an item that you are interested on bidding on, be sure to read the fine print—how much shipping will cost, if there is a reserve (a price below which the seller will not accept a purchase), and, importantly, the seller’s reputation. Each buyer and seller on eBay has a feedback score, which lets you know how many transactions the person has been involved with and how other people have rated them. It is always a good idea to read what other people have to say about a seller before choosing to do business with them.

                                                                       

When you are ready to bid on an item, click on the Place Bid button below the current bid price:

 

 

A window will then pop to prompt you to enter your maximum bid (which does not include shipping). You have until the end of the auction  to enter your bid. Your bid will then increase every time someone else bids until your maximum is reached or exceeded:

 

In general, once you have made a bid, you cannot retract it, so be sure that you are willing to pay your maximum price for an item before you place a bid.

 

Once you win an auction, the seller’s e-mail will be sent to you via e-mail. eBay will also let you know the next steps for how to complete your transaction. You can get in contact with sellers at any time to ask questions about items by clicking on their username. Sellers cannot access your contact information, however, unless you bid on or win one of their auctions.