"The Big Four"
Once you have decided you want to try the on-line auctions, you must now face the huge task of choosing which corporation you want to work with. This can be a very challenging task because of the broad range of on-line auctions to choose from. To help make this task a little bit easier, I have compared four companies involved in the on-line auction markets.
Yahoo!Auctions
Yahoo is one of the newer on-line
auctions, but this can be a good thing. Because it is slightly newer,
the popularity has not grown as large as the others, such as ebay. This
allows for a smaller market which can increase your chances of getting
a good deal . As with all of the services, Yahoo!Auctions requires
that you must first sign up. This is a very simple process which
includes creating a Yahoo! ID and password before completing a short survey.
Once this is completed you have access to all Yahoo! services. Unlike
some of the other on-line auctions, Yahoo! is free.
The only time a fee is incurred is if the buyer or seller chooses to use
an escrow service. This usually involves higher priced items.
Other forms of payment
include credit card, money orders and checks. Although the service
is free, there are restrictions on bidding and selling. A seller
must provide credit
card verification. Because Yahoo! is not held responsible for
the people involved this is a safety measure for the public. Buyers
are not required to provide this credit card verification, but until they
have received a large number of positive ratings from sellers their bidding
will be limited. Although both buyers and sellers are required to
complete the transaction and exchange goods once an agreement has been
met there exists a reserve
price. This is the lowest price at which the seller is willing
to sell and if this price is not met, the seller has the right to not to
sell the good.
Overall, Yahoo!Auctions seems to be a good source for on-line auctioning.
There is a broad range of products to choose from including antiques, art,
business, clothing, computers, electronics, and most anything recreational.
There are also many opportunities to get involved with the on-line auction
community, including collectors clubs
and message boards. The main drawback seems to be that Yahoo!Auctions
does not hold liability so there is more of a risk. Although they
do try to provide a safe environment, this is no guarantee that fraud will
not occur. They take safety measures by using various different methods
of information gathering about yourself. This includes the use of
cookies
which they mainly use for their own marketing benefits. If you are
willing to be a little risky and do not mind having your preferences
used at Yahoo's benefit then this on-line auction site should provide a
good experience for you.
Trade Safe
TradeSafe is a different kind of "auctioning market". Instead of
having actual auctions, you can use Tradesafe on already decided transactions.
This company provides the option of buying and selling along with trading.
Unlike some of the other on-line auctions, TradeSafe mainly serves
as an escrow
service. This comes with a fee, but it provides a much higher
level of security
for both the buyers and sellers than other online corporations such as
Yahoo!Auctions. Tradesafe has worked with companies such as ebay
to provide their escrow services.
In order to use Tradesafe, the buyer and seller agree with each other on
the transaction and then must fill out an on-line form. The buyer
then sends Tradesafe their money. Once this is received, the good
is sent and the buyer has until midnight of the next business day
to decide whether on not to keep the good. Although this service
is mainly used by customers of large on-line auction companies, it can
be used by private individuals as well. Tradesafe provides a large
variety of suggestion
sites for buyers. They provide both sites and categories that
will lead you to related sites. The transactions are performed in
an efficient manner completing as soon as 48 hours. The time process
depends on the method of payment used, the quickest being wire transfers.
These transactions can be paid for in other various manners such as PC
banking and credit
card payments. TradeSafe simply holds the money until the goods
have been exchanged and the transaction
is complete. The buyers have the option to return the goods if
not satisfied and will receive a refund from the seller. The fee
for your transaction will vary based on your choice of payment.
If paying with cash, you receive a discount and if paying with a credit
card, an additional fee is incurred. Although this may be discouraging
because of the extra cost, the benefits far exceed the small loss, especially
when large goods are concerned. I would recommend TradeSafe for those
in the market for a safe and reliable on-line transaction.
Amazon.com Auctions
We all know
amazon.com is a great place to get a good deal on books, but it also has
an auction site. It is a simple and easy process involving a short
sign-up and you are ready to go. The service is free for bidders,
but comes with a price for the sellers. This fee
depends upon the type of auction that you choose to sell your good in.
There are three different types: standard, reserve price, and dutch auctions.
The dutch
auctions usually require the highest fee because more goods are involved.
In order to
sell
you must register your good by filling out a survey. The more information
you provide, the better. There are other fees that you may opt that
make your good more visible. Once you have done this you are ready
to get your bids. In order to bid
you
start with your lowest price and set a maximum. Every time a bid
is higher than yours, Amazon will automatically raise your bid for you
until you win or max out at your maximum.
As far as the privacy
issue is concerned, there is not a large amount when using Amazon.
They offer the use of a secure server, but they do use cookies. They
may use your information for commercial purposes, but you have the option
of sending them an email not to use it.
The nice thing
about this company is that they do offer a guarantee.
If you are not satisfied with your purchase and cannot work it out with
the seller, Amazon will reimburse you up to $250. Although
this company is not that private, I would recommend it due to the
fact that it offers a guarantee and it is a well known company.
eBay
Ebay is by
far the most well known and successful on-line auction company on the market
at the present time. The guidelines and anything else you would want
to know are explained by my colleague Shane Sanders.
The only drawback to ebay is that it is so popular. This may tend
to drive the prices up higher than that of a smaller on-line auction site.
Of all of the companies out there, I would choose ebay.