The Pros and Cons of Buying Auction Items [aboutcomputer99.blogspot.com]

The Pros and Cons of Buying Auction Items [aboutcomputer99.blogspot.com]

Students and the ACU community took advantage of the university's surplus of used computers and other business and electronic equipment at the fall Computer Auction in the Teague Special Events Center.

aboutcomputer99.blogspot.com ACU auctions old electronics

Auction is still the popular business method of buying and selling mostly singular or rare items. In being a bidder or buyer, you have to compete with other buyers who are also interested in these items.

However, there are some people who believe that they would rather buy new items instead. Whatever the reasons, whether you are a newbie or a pro at bidding, we still can say that bidding is still here to stay. For the newbie at bidding, it is advisable for you to look at the two sides of auction - pros and cons of buying auction items. Read the two sides below and hopefully you will gain an insight into the basics of auctioneering.

The pros or advantages:

1. Bidders will decide on the final price of the item he wants.

2. You sit only and "shop" while items are brought before you. Of course, it is assumed that you had a preview of the items to inspect and rate it before the bidding starts.

3. Items are often relatively priced lower that its actual market value, which is at least 10% to 15% lower.

4. Quality is assured and unexpected items just surprise you when it is auctioned. This is where the fun of buying auction items comes in. Unexpected designer clothes, jewelry, bags, celebrity item, and other valuables are sure to make you bid for more.

5. Oftentimes, auctioned items have a historical background. If you buy these items, these would make good heirlooms with possible appreciating value.

The cons or disadvantages:

1. The price value of the item may rise due to a bidding frenzy or war. Due to competition and adrenaline rush of some bidders, they keep on bidding for an item till it goes beyond the market value of the item.

2. The reserved price is beyond what the buyer estimates it to be based on what he sees. Upon inspection or preview, we estimate the item we desire, and become frustrated to know its reserved price.

3. If we are not observant, we may get an item at a h igher price due to the presence of a hands-on-glove of the auctioneer. He is the guy who bids non-stop to counter-bid others without the intent of buying but to raise the price only.

Now you that have some ideas on the pros and cons of buying auction items, you can be more aware of what goes on in the auction business.

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