Online Auctions – What They Are

June 21, 2021 by No Comments

Have you ever participated in an auction of any type? How about an online auction? Would you know where to find one? What would you look for to test their credibility? Are they scams? These are all excellent questions and some of the answers are very important to understand. We will briefly explore some of these issues.

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What are they?

First of all, let’s get a definition of this purchasing method. They are simply the process which allows people to bid for products and services over the internet Best cannabis strains. This is made possible through the use of different auction software programs. These business models allow people to sell products and services to other people who want to purchase them. The incentive to participate in one of these transactions comes from the fact that the item is posted for sale at a fraction of the retail price and bidders have the possibility of obtaining it for much less than they would pay elsewhere.

Where do I find them?

If you are interested in purchasing an item and you wish to do so online and take advantage of reduced pricing, you can search through BidFind to locate the item. BidFind tracks down the specific item and at what auctions it can be found. While this service is not always fully updated, it does provide a starting point from which you can work.

Are these businesses scams?

There is always the potential for an online form of commerce to be a scam. There are dangers that are inherent in these auction transactions. Issues like privacy, security and a lack of direct contact with the seller / buyer are ever present and, when the transaction becomes an international one, the dangers increase significantly. The best way to find a reputable, credible and viable auction platform is to evaluate each of the sites carefully, with particular attention being given to areas such as prominent display of privacy policies, escrow services support, a clearly defined method to settle disputes and rating systems for buyer and sellers. The less than reliable platforms will be weeded out fairly easily if you will just do your homework.

Another facet to consider is the auction marketplace itself. It seems there is a 3 year “boom-bust” cycle that surfaces. Many companies do not survive past the first year for many reasons. The most basic one failure seems to be the ability to attract significant numbers of items, products and services to be sold as well as the ability to attract an even higher number of bidders willing to bid and purchase the items for sale. A new auction company pretty much needs to come out of the chute flaming to be successful. There are a few major league hitters that have been successful but, for the most part, there are few success stories in the online auction business.

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