Prepare For Internet Live Auctions With 4 Easy Steps

Over the past decade, auction houses have begun offering people the opportunity to participate in online live auctions. Placing a bid online offers more flexibility than the traditional in-person bidding, but still has the same flexibility potential to cause confusion.

With thoughtful preparation, prospective bidders can forgo the confusion and begin benefitting from live auctions online.

Step 1: Register Well Before the Auction

Although it is easy to register for access to online live auction sites, many auction houses will require you to go through additional steps before you are approved to bid online. So instead of waiting until an hour or two before the auction, register no later than several days in advance.

By registering early, you are giving yourself a buffer zone in which you can address any problems that may arise with your account. This is particularly important for people who are looking to purchase big-ticket items such as real estate or farm equipment.

Another benefit to registering early is it makes it easier for you to watch video of live auctions. Many sellers limit their videos to people who are registered.

Step 2: Ask Questions in Advance

If you are bidding on an expensive item or an item for which you are passionate, it is likely that you will have questions for the seller. However, it is important to remember that sellers at online live auctions are dealing with both in-person questions and Internet questions.

To make sure that your question is answered in time, email the seller a week or two before the auction begins. This way you will have plenty of time to discuss your concerns such as payment arrangements, the condition of the item, and its authenticity.

Step 3: Decide How You Want to Bid

Most sites give you the option to place either an absentee bid or a live bid. You place an absentee bid prior to the start of the auction and an automated bidding system will bid for you up to your maximum bid. In contrast, you submit live bids throughout the auction.

Once live bidding begins, you will not be able to submit an absentee bid. Absentee bidding online can be useful when you don't have the ability to stay in front of your computer. On the other hand, live bidding tends to be more exciting because it gives you more options.

Step 4: Test Your System Requirements

Internet live auction sites should provide a list of what you need on your computer in order to bid online. There is nothing more frustrating than logging in to an auction site to make a bid only to discover that your version of Java is out of date.

The best way to make sure you have everything you need is to register and watch a real time auction. If you encounter any problems, reputable sites that have toll-free phone and email support.

Live auctions are one of the best ways to find unique items without spending a lot of money. From movie memorabilia to antique furniture, the live auction experience offers a wide array of items for every interest and budget.

To view and bid live in upcoming live auctions, visit http://www.icollector.com/about.aspx. William J. Walberg is a freelance writer who writes articles in the auction and technology industries.

What to Expect When Bidding in Internet Live Auctions

So, you're finally ready to bid online in some live auctions. You've done all the research, you're registered, you've asked the right questions, and you know how much you want to bid. But you may be wondering how you actually go about placing your live bid.



Mark Your Calendar and Login
It might seem obvious, but you'd be surprised at how many people forget about an auction or get confused about the day. Unless you are submitting an absentee bid, you must be online during the live auction.
Auction sites will typically have countdowns showing the amount of time left before the auction begins. Once the auction begins, click the button to enter the auction.

Navigating the Live Auction Screen
A new window should appear featuring the live auction. Depending on the seller, there may be live video or audio of the event. More important, there will be several columns that will tell you what's going on.
One column will show an image and/or description of the item. If you click on the item, a new window will open and take you to that item's entry in the online auction catalog.
Another column will show you the status of the current bid. If someone places an in-person bid, the notice will say "floor" to represent auction floor. If a person places bid online, that bid will be marked with that person's username.
On the screen you will also see status messages and messages sent by the auctioneer that are separate from the current or asking bid. For example, a message will appear when a lot opens for bidding and another will appear when it is closed. Sometimes auctioneers will ask if there are any more bids.
There should also be a column showing the queue of all of the items in the live auction.

The Waiting Game
There can be hundreds of items up for bid during an Internet live auction so you will probably have a bit of a wait before your lot. However, don't stray too far away from your computer. Lots can go quickly, especially if a lot closes without bids or if there are unchallenged absentee bids.
Watching how people go about bidding online may prompt you to re-think your own bid. You may also discover other items that you can't afford to pass up. Logging in early has the extra benefit of making sure that everything works on your computer and allows time to fix any glitches.

The Main Event - Live Bidding Online
Remember, you must be registered, approved, and logged in before you can bid. The approval process varies by auction house, so make sure you don't wait until the last minute.
From the live auction screen you will see a bid button featuring the current asking price. If that amount is acceptable, click the button and wait to see if anyone outbids you. The process will continue until no one else bids.
Finally, if you win your item, the auction house will contact you to go over payment and shipping/pick up arrangements.



Bid live online in upcoming live auctions at http://www.icollector.com/about.aspx. William J. Walberg is a freelance writer who writes articles in the auction and technology industries.