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Email: info@addisions-auctioneers.co.uk

How Do Online Auctions Work?

Like doing online shopping or playing online casino games on BetTarget, you can now attend online auctions. Though the concept of the traditional and online auctions is the same, there are some differences which you should be aware of before being part of such auctions. You need to have some understanding of the common terminologies used during the auction such as ‘auctioneer’, ‘bid’, ‘hammer price’, etc. You should register for the auction before the auction starts. You need some basic information like name, address, phone number, and payment information. You will get lots of payment options there. Different types of bids are available at the online auction. For example, a pre-bid is a set amount that you bid before the live auction. Others can bid for the item with their pre-bids as well. During live auctions, you see the video streaming of the actual auction. You can bid during the live auction. The auctioneer first describes the item, and the bid amount starts increasing as others keep bidding. Once no one bids anymore, the auctioneer will declare the lot sold and the highest bidder will get the item. Before the auction, you should have some items in mind that you want to buy. Do some research on the item to find out how much they are worth. Start bidding with a minimum amount that you want to pay. Then increase your bid slowly once others start bidding. This is in the case of live bidding. But for pre-bids, you should put down the maximum amount you are willing to pay. You should make sure that you choose a reputable auction site. Read the terms and conditions carefully so that you don’t get caught up in something unexpected. When bidding, have control over yourself; don’t get caught up in a bidding war and bid an amount that you can’t afford. From Visually.
Reasons Why People Collect Antiques and Collectables

Some people collect thousands of dollars of antiques and collectables. They do this for various reasons. Every year auctions are held all over the world. Now online auctions are also available giving people more access to these valuables. Here we are going to discuss why people have a fascination with collecting antiques and collectables. The age of the object Old objects that are rare to find have great value and people have a keen interest in them. For example, a porcelain dish from the 15th century has great value for antique collectors. By buying these old things, people feel connected with the past. Some people love to own a particular item of a specific period; for example, something that was used during World War II. The craftsmanship is another factor why people long for these antiques. Before the industrial revolution, things were made with hands and the work was incredible. For business Some people want to make money out of antiques or collectables. These open up antique stores to make profits and earn money. The antique shop owners collect these items from auctions and sell them at a higher price at their stores. Preserving memory People like to collect antiques and collectables for keeping memories of people or places. For example, a dress worn by a queen or a souvenir of a place that you visited. People also collect family possessions as a memory like a grandma’s spoon. The thrill of finding it Antiques and collectables are rare to find and people often have to do an intensive search to look for these items. There is an extreme thrill in this journey of finding rare items and some people enjoy it. People may have to travel to distant places and take part in many auctions to find valuable items. Restoring Some people enjoy restoring antiques or collectables to their original state. They do so to sell the items to others to make money or just for the rewarding experience of transforming the look of the antique. Sentimental People buy collectables for sentimental reasons. For example, if you see a chair that looks like something that your grandfather had, then you will purchase it. Your father may have given you a toy when you were a child, and you find something similar and feel the urge to buy it. Hobby Collecting antiques and collectables is a hobby for many people. They just enjoy browsing, window shopping and buying these items, and keeping them in their collection. Style Some people like decorating their place with antiques. They love antique-style furniture and other things. So, they buy them to decorate their house. Feeling part of a community Many people around the world love buying antiques and collectables. They form a special online or offline community where they exchange their knowledge and share their experience of collecting them. This social interaction encourages many people to collect antiques and collectables. Antiques and collectables are always valuable. You should buy them from authentic sources or auctions so that you get the best value for money.
Top 5 Online Auction Websites

The online auction space is now a billion-dollar industry. Over the years, this sector has grown a lot. More people are finding it convenient to bid for their antiques and collectables online rather than on traditional auction houses. Apart from antiques and collectables, people also buy equipment, furniture, vehicles, and other things from these online auction sites. Here are some of the best online auction sites you will find today. eBay This is one of the biggest and most popular online auction sites today. The site is free for buyers. People can stay well protected from any fraudulent activity. The good news is that you can buy or sell on eBay from many countries. This site was launched in 1995 and since then it has grabbed the attention of many people who like to get the best deal through auctions. On eBay, you can buy and sell collectables, antiques, art, electronics, furniture, and many other things. There are many options for the sellers that allow them to list many products. Auction.com This is one of the best sites for the real estate auction. From this site, people can buy foreclosed and bank-owned homes. The bids can start at as low as $1. The deals close quickly, in weeks, and so you can buy a house faster than other methods. On this site, you can get access to the photos of local properties to help you decide which property you want to buy. You can download a mobile app for this site, thus making things easier. This site lists properties of about 50 states in the U.S. Before bidding for a house, the buyer must secure financing. They need to deposit the earnest money within 24 hours of auction close and the amount is usually 5% of the sale value. Copart This site is best for buying autos and the site is operated in 11 countries. You can buy autos or auto parts from here. The product will be shipped to you. The site has many listings and so the buyer has a lot of options to choose from. Thousands of vehicles are available on this site. The listings have good product descriptions and photos. The conditions of the autos are mentioned too. You can determine the shipping cost automatically from the site. You need to deposit 10% of the bid amount for being a basic member of the site. If you have a premier membership, then the deposit amount is only $400. Sotheby’s You can buy luxury or collector items from this site. The site maintains a very high-quality standard as it serves a premium customer base. This auction site also offers financing options. You can buy and sell in various categories including art, jewelry, antiques, wine, and more. To sell here you need to provide the description, picture, and history of the items. These auction sites are trusted by people and many buyers and sellers have been members of these sites for years. You will get high-quality products here.
Some Benefits of Online Auctions

People are now comfortable ordering products and services online. The products get delivered easily to your doorsteps. Now auctions also take place online and there are lots of benefits of it. Here we are going to talk about it. Auction software Online auction software makes the selling of products through auction very comfortable. The software will handle everything and there is no need to be present physically at the auction site. It also makes the entire auction process quick and error-free. Comfortable Traditional auctions take place in specific places. So, you may need to travel miles to get your desired collectables or antiques. This can be very inconvenient as you may need to stay at a hotel for a few days to take part in the auction. In the case of the online auction, you can bid for your favourite antiques or collectables from your home. Less costly To be at an auction physically you need a lot of planning. You need to spend money on travel and even accommodation and food. These costs are not involved in online auctions. You only pay the amount equivalent to your winning bid amount. Lots of items available There is no geographical restriction in an online auction. So, buyers from all over the world can participate in this auction. The seller from one country lists the products and buyers from another country can buy them. Gives buyers more value Buyers get more value for their money when they buy products from online auctions. Here the product pictures and details are given accurately. So, no suspicion arises about the product. The buyers can do their research online and see if the price of the product is justified. The valuation of products at online auctions is done very carefully. For these reasons, many people now prefer being part of an online auction rather than the traditional one. The options are huge and so you can get hold of your desired antiques and collectables.