Join Christopher Matthew Spencer for an in-depth discussion in this video Browsing auction-style listings, part of eBay Essential Training: Buying.
It can be really exciting to attend a live auction, and eBay has capitalized on this thrill by offering auction-style listings as a way to buy merchandise. Bidding can be tons of fun. You can acquire incredible bargains, and it's interesting to explore merchandise from sellers across the world online. We'll take some time to review how auction-style listings work, on eBay and how you can best take advantage of competitive bidding to find scarce items or get super deals on everyday products. You're going to want to search for items. Of course, that's how you find things on eBay.
You find things by typing in search keywords, like I would say "antique lamp"; that's an example. Then you'll see a list of items for sale, and you'll notice that those items are either auctions or Buy it Now. Now, I'm going to go ahead and scroll through and look for some auctions. If something catches you eye, you might want to click on it. Oh, this catches my eye; I like sconces. I'm going to click on this one right here. Then you can see on the listing page for an auction-style listing all the different facets of the listing, like pictures--you have a picture here, which you can enlarge and look at.
You have the title of the item, how much time is left, and of course it's antique, so it's used. You can see the bidding information here, who is bidding, by clicking on that. You can see that. Then you can go through and see additional things, like how much the current bid is and the maximum bid you have to enter, shipping information, who the seller is, their feedback score, the location of the item you can see here as well. If you page-down, you can see additional information about the item: Very unusual two lamp solid brass beautiful sconces, wired and working, excellent for its age.
The information that you learn about the item through its description is provided by the actual seller, and you will be going through and reading tons of different descriptions and titles and things that are unique to each individual seller. But let's look at the most important and general things that are important to you about a listing. And in reviewing that items listing page and making a decision whether or not you want to place a bid, note some specific things that might be very important to you. First one is methods of payment. What methods of payment does the seller accept? Are those methods secure? Are you comfortable sending those methods of payment? If they tell you to put cash in an envelope and mail it out, that may not make you very comfortable. But PayPal might be a more comfortable way to pay, and most people pay that way.
Then looking at the seller's feedback profile. Do they have 99.5% feedback? That's really, really good. Or do they have really low feedback, like 50%? And maybe their buyers aren't really happy with their service. Look at the end date of the item. If you need a right away, and it ends in two or three days, maybe you can't wait that long; maybe you need it sooner. You can also see how many other bidders are currently involved. If there is a lot of competition, you may not be successful in winning that item. There may be too much competition. Also, look at the current amount of the high bid.
If the high bid is so high that you're not really willing to pay it, don't get emotionally involved. You might want to move along and look in another listing. Look at any nuances on the listing description that might be relevant to you, including what might be included or excluded from what you're buying. Be sure to ask about that if you're not sure. Things like accessories, if you buy electronics item, you want to make sure that you're getting the battery or the strap or the accessories. Just make sure you're asking questions or reading carefully in the description. It's important to know the returns policy of the seller as well. If it's a no returns allowed or if you have a 30-day returns policy.
What is the specific returns policy for that seller? Auction-style listings work with a thing called bid increments and automatic bidding, which will be talking about in more detail in a later movie. But the basic idea is that eBay allows people to bid on items, but they have to bid a minimum extra amount just to avoid people adding an extra 10 cents to their bid or getting into a silly penny bidding war and things like that. Bids are binding contracts, and if you're the high bidder, you're obligated to complete the transaction with the seller. Bids may be retracted in some cases, and it depends on how much time is left before the end of the listing.
It's important to avoid super-charged emotions when bidding. It may be tempting to get upset about being outbid, but keep a cool head and bid only what you feel an item is really worth, not just so you can become the high bidder, but so you get something at a good deal. Many eBay buyers use sniping software to bid at the last remaining seconds before the end of an auction. eBay's auction- style listing format allows for a fun competitive bidding environment. You get to compete with other buyers on items, and the highest bid wins. The nice thing is that many sellers start items at very low prices, and if there isn't a lot of competition for a particular listing, you can win big in terms of cost savings when using the eBay auction-style format.
- Creating an eBay account
- Contacting Customer Support
- Browsing listings
- Shopping for real estate and cars
- Saving and filtering search results
- Reviewing seller feedback
- Reviewing payment terms and shipping options
- Bidding and re-bidding on an item
- Using the Shopping Cart feature
- Handling problem transactions
- Avoiding phishing attempts and scams