How do you do online bidding?

Here are the basic steps to holding an online auction:

  1. Choose a vendor.
  2. Solicit goods.
  3. Decide when enough is enough.
  4. Collect or take photos.
  5. Determine fair market values.
  6. Set starting bid amounts.
  7. Let people know about the auction.
  8. Present goods in an attractive light to bidders.

What is the most popular online auction?

eBay
eBay is undoubtedly the largest auction site on the internet and prides itself as the biggest online shopping mall. eBid has a large database of auctioneers and bidders.

Are online auctions safe?

Sticking to people or companies with strong reputations over time is your safest bet. Never let a buyer or seller convince you to finish the deal off of the auction site. A common scam is to tell you they can save you the auction’s fee if you deal with them directly, but you want the protection the auction site has.

Are Facebook auctions legal?

Facebook has rules about what may be sold on its platform. Among other things, Facebook prohibits adult products, alcohol, raffle tickets, digital products, and services. This may force you to exclude some auction items you’ve already procured.

What happens if you win an auction but don’t pay?

In the end, it is up to the Organization running the auction to decide whether to honor the request. If the winning bidder would like to back out after the close of the auction, you can offer the item to the next highest bidder, or close the item as Not Sold.

Do online auctions cheat?

False bids. A seller cheats in a second-price sealed-bid auction by looking at the bids before the auction clears and submitting an extra bid just below the price of the highest bid. Such extra bids are often called false bids [7]. Type of cheating is auction mechanism specific.

How do you know if an online auction is legit?

Check online reviews of the company on Google and Facebook. If a company has little to no reviews, or a series of bad reviews, be cautious. All companies will have a few bad reviews and good companies will often respond or reply to those reviews in a public posting.