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Online Auction Hints and Tips

 
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Gooner
Machin Man


Joined: 25 May 2007
Posts: 1270
Location: England, UK

PostPosted: Thu Aug 18, 2011 3:18 pm    Post subject: Online Auction Hints and Tips Reply with quote

Although I use the word auction this is mainly aimed at eBay as it is the most popular and certainly the one I have most experience of using.

HINT NUMBER 1:
Do Your Research before bidding/purchasing.

It is not necessarily true that just because something looks good that it is necessarily the best price you could have bought it for. I have seen many items bid up way above the price I (and other web-sites) are selling the item for.
Let me give you a quick example (current at time of writing).

Royal Mail Presentation Pack Album - Slipcase ONLY 9.20 +4.50 Postage = 13.70
or
Royal Mail Presentation Pack Album - Slipcase ONLY 7.45 +2.95 Postage = 10.40.
or
alternatively to guarantee a new one you could purchase direct from Royal Mail for 9.20 + Postage = 2.95 = 12.15

This is just one example of BUY IT NOW type auctions found in minutes of how you can save money by doing your research first.

Please feel free to add any tips but keep each one in a separate post for easy reading.
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Dave
http://www.stamp-collector.co.uk
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Gooner
Machin Man


Joined: 25 May 2007
Posts: 1270
Location: England, UK

PostPosted: Thu Aug 18, 2011 3:24 pm    Post subject: Reply with quote

HINT NUMBER 2:
There is no such thing as UNIQUE.

Of course that statement is a little misleading but will be correct 99% of the time as far as buying from auction is concerned.

A number of times I have been outbid on something because I gave it one value and another buyer thought it was worth more.

There will ALWAYS be something similar in future auctions.

Don't believe me- set up a daily search on eBay for a specific term that you are looking for and see how many reminders you get every day.

I, for instance am currently looking for Connoisseur pages - they don't come around that often but by setting up a search term for this I have seen around 5 auctions this year. I only once bid high enough to secure them but that is my choice.

Bottom Line: Don't get into a bidding war just because you really want something. Put a value on it and keep to that value.
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Dave
http://www.stamp-collector.co.uk
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Gooner
Machin Man


Joined: 25 May 2007
Posts: 1270
Location: England, UK

PostPosted: Thu Aug 18, 2011 4:50 pm    Post subject: Reply with quote

HINT NUMBER 3:
Beware of disproportionate delivery charges.

I have seen auction items for a single stamp that catalogues at let's say 5 offered for 1p .... good guy you think.... then look along the line and see a postage charge of 6.50 for local delivery.

eBay is actually disallowing sellers do this in some categories such as books and mobile phones by having an upper limit. This facility is NOT available in the STAMPS category so a seller can charge what he likes.

Fortunately the above example is rare but I have seen regularly charges for 2.50 for one stamp. Just keep your eyes open.

1.20 is just about fair I would say... although in theory postal charges shouldn't include PayPal fees (not allowed by eBay to charge for PayPal) - most do and I don't think that is a bad thing - hence my 1.20 figure.
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Dave
http://www.stamp-collector.co.uk
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Gooner
Machin Man


Joined: 25 May 2007
Posts: 1270
Location: England, UK

PostPosted: Sat Aug 20, 2011 6:32 pm    Post subject: Reply with quote

HINT NUMBER 4:
Ignore the word "RARE".


Self explanatory so let me give you a current example:

MACHIN SECURITY STAMP 1.10 PAIR MNH RARE (250875478889)



Yes - I suppose it is if:
a.) you don't have access to a Post Office
or
b.) you don't have access to the Philatelic Bureau
or
c.) you don't have access to one of the hundreds of sites selling it for around the 2.50 mark.

In that case go ahead and pay 4.99 +delivery.

[END OF SARCASM]

Actually I have no problem with his price - he can charge what he wants but describing a CURRENT ISSUE as RARE is sort of going over the top.
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Dave
http://www.stamp-collector.co.uk


Last edited by Gooner on Sun Aug 21, 2011 11:36 am; edited 1 time in total
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Alex
Machin Man


Joined: 02 Sep 2007
Posts: 152
Location: Bristol

PostPosted: Sun Aug 21, 2011 11:27 am    Post subject: Reply with quote

Very sound advice Dave, especially in relation to the recent post line about 5 value on paper (with no franking) and its 'value'.

I have seen so many eBay auctions go over face value - human nature means we hate being trumped/gazumpted/beaten whatever you want to call it.

Stick to what you consider is a reasonable max value and stick to it.

Alex.
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