Most people are familiar with in-person auctions. These auctions allow bidders to compete against each other to obtain the things they want and need. Bidding starts at a pre-determined price, and bidders have the opportunity place as many bids as they choose. As the auction progresses, the price of each item goes up. Online auctions work in a similar fashion. However, bidding takes place entirely online and bidders never come into direct contact with each other.
Between work, family, and other commitments, most people don’t have a lot of free time. Unfortunately, bidders must visit an auction house in order to participate in in-person auctions. As bidding progresses, in-person auctions can take a significant amount of time and bidders must wait until the item(s) they want get auctioned off.
Online auctions take place over the internet. Bidders can place bids from their computer or smartphone. After the auction closes, bidders can pick-up their item(s) from the address listed on each auction. Shipping within the United States is often available.
Length of Time
Although in-person auctions frequently go longer than intended, most last only a few hours. Each item gets auctioned off individually, and bidders must be physically present to participate in the auction. With online auctions, bidders can choose from multiple items and bidding takes place over the course of several days. Because bidding takes place entirely online, bidders can participate both day and night. They do not have to visit an auction house to take part in the auction.
It’s not uncommon for bidders to get swept up in the thrill and excitement of an in-person auction. However, this can quickly lead to overspending. Bidding frenzy is common, and bidders often end up paying more than intended.
Online auctions allow bidders to set a maximum bid amount. The system automatically bids on their behalf up until the set amount. This system helps prevent overspending and allows the bidder to walk away from the auction. The auction platform sends notification each time the bidder gets outbid.
Lots of Auctions offers online auctions in Texas and Missouri. Our auctions take place daily and bidders can choose from multiple categories. Please click here to register to bid.