"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.