Buyer Tips for Online Auctions

Online auctions have been building in popularity for many years. What was once a small niche of the estate and auction market has now become a cornerstone of many successful auction companies like Bodnar’s Auctions. From coins and collectibles to antique toys and comic books, we have all sorts of high-quality items available at our online auctions!

Yet, how does a buyer become more successful when bidding in an online auction? Are the rules any different from traditional auction formats? What strategies can be used when bidding online? These are just some of the questions that you might be asking yourself. Here are some tips for success when you participate in your next online auction:

Ask Plenty of Questions

One of the first things you should do when bidding in an online auction is to ask plenty of questions. First, ask if you can do an in-person visit to inspect the items you are interested in. If not, ask the auction house to provide you with detailed information and pictures of your preferred pieces. Also, remember to ask any questions you may have about the auction process itself. Make sure the auction house is clear regarding the rules and regulations regarding the online auction.

Don’t Underbid on the Items You Want

New bidders at a traditional auction or online auction tend to believe that they’ll be able to win a piece at a reduced price if they bid low. This is patently false. More often than not, when a buyer begins their bids too low, it will start a bidding war leading to unnecessary price inflation. Thoroughly investigate the prices of the items you are interested in prior to the auction and start bidding accordingly. Don’t max out your bidding limit right away, but don’t be shy in bidding a higher price that is in line with the actual cost of the item. This will show intent to other bidders and scare away anyone looking for a bargain. It will also let serious buyers know you are determined to get the item you are bidding on.

Create a Game Plan

One of the worst things you can do when participating in an online auction is going in unprepared. Make sure you have a flexible yet defined plan for bidding on the items you want. Set bidding limits and pay close attention to the bidding habits of the other buyers early in the auction process. This will give you an idea of what bids you should make that will most likely secure the pieces you are interested in buying.

Make Sure Your Assets Are Available

Almost all online auctions will require you to pay a deposit immediately upon winning a bid. This is for their security, as well as yours. Ensure all of your assets are available and can be used following the auction for any items you’ve won. If you are unable to pay a deposit or the full amount, you will likely lose the item and possibly the chance to bid again at that auction house.

Secure and Safe Online Auctions at Bodnar’s

Bodnar’s Auction is an established auction house located in New Jersey. We are proud to provide professional auction and estate management services for those looking to sell inherited items or collectibles. For more information about our exciting online auctions, contact Bodnar’s today!

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I’m happy with everything Joe and Janet did, you were both informative and were very helpful with the questions I had being that I was never in that position before. Janet’s response time was also positive for me. It was interesting to watch the auction live. I thought you did an amazing job and had a nice banter back and forth. You seem to be a good team! Thank you for all your hard work and making this difficult time of letting  my deceased father’s collectibles go an easy experience.

Kim F.

I would like to thank you for including me in your online sale.

Everything from none contact drop off, to none contact pick up, was handled with the outmost professionalism.

I appreciated your clear communication after the sale with a printout and an explanation of when I’ll receive my check.

Overall I was very please with the prices my jewelry achieved, some lot  went for less then I expected, others went for more, it’s all in the average.

Thank you very much

Michal F.

I come to your auctions often. You and your staff are great. Your change to an online auction on 4/9 is just another testament to your fine character and being thoughtful of others. The items are great no doubt, but a big reason I keep coming back is due to the culture you have created. Thank you. Art

Art F.

Thank You Joe! We Had a Very Good Experience With Your Team! 8/15/19

Carry G.

Sold in July 18, 2019 sale and Overall Pleased!

Frank D.

I received the proceeds from the Auction and wanted to again thank you and your team.  Everything went so smoothly and you all did such a great job from start to finish.This was an overwhelming experience for me and you made everything so easy.  I have been recommending you to everyone!

Thank you again for helping me; your kindness was very much appreciated.

Debbie B

Five Stars!

Samuel P.

Great deals and great company

Armand P.

Love this service! Great deals if you know what to look for!

Anthony D.

As I said once before, Wonderful People Work here. Thanks too all for your constant help. One Huge Look Auction!

Michael L.

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