How To Use Online Auctions To Snag Great Bargains

Dec. 29, 2009 - PRLog -- Since the advent of internet-based shopping, using online auctions to find rare or otherwise overpriced items to snag a good bargain has been tremendously successful and popular. For many, it ends up being a win-win situation. Sellers are able to find a new venue to present their merchandise and buyers can find the best deals without leaving the comfort of their homes.

But some people avoid taking advantage of online auction sites because they aren't sure how to approach the process. Some fear--not without merit--that their credit card information can be snagged and used for unauthorized purchases.

In previous years, it took little effort on the part of hackers to access personal information after it had been submitted to even a reputable website. But unfortunate incidents in the past have driven security reforms now.

If you are interested in saving money and potentially making a profit yourself, it is time to get in the game. If you still have concerns, contact your bank or credit card company in order to discover their policies regarding stolen information.

You may also want to set up a PayPal or other secure account, as many sellers on auction sites will require that method of payment.

Then begin searching for auction sites. Ask your friends about their best buying experiences, and they will probably point you in the right direction. eBay is one of the most widely known, but don't confine your searches to any singular site.

When you have a specific item of which you are in need, try to give yourself plenty of time to find it for the price you want to pay. This means that if you are hoping to save money on holiday shopping, don't begin halfway through December. It can take time to find a bargain on an iPod, digital camera, or other popular item.

Learn how to refine search results. There are so many ways to sort your terms--by brand, by current price, by size, and more. The more specific you can be, the closer you will be to finding exactly what you are looking for.  

Some auction sites have a feature that sorts by remaining auction time, so this can be a great way to snag a last-minute deal. For standard auctions, it is usually free to place a bid, but if you win, you are under obligation to accept and pay for the item unless you contact the seller and they release you from the obligation.

Penny auctions work a little bit differently. Instead of deciding on a maximum or ceiling bid, you buy a package of bids. Each bid drives the price of the item up by one cent. The host still makes plenty of money, but you can often snag gift cards, electronics, and other valuable items for drastically less than they are actually worth. There are many different types of penny auction sites on the web today. Nitrobids and Bid Rodeo are two of my favorites.

Using auction sites to find bargains is one of my favorite ways to shop. I have had tremendous experiences working with business-based and private sellers alike. Now that the holidays are approaching, I can't wait to take a peek at potential deals.

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