The focal point of this part of our guide is online auctions, which may also be known as electronic auctions, e-auctions, eAuctions, Internet auctions, or virtual auctions.
Of course, online auctions are the online version of regular auctions, which is a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying it from the lowest bidder. There are some exceptions to this definition, but that's the gist of it.
Online auctions have transformed the way that people buy and sell goods.
Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules.
In the late 1970s and early 1980s, modern online auctions likely originated on computer bulletin boards (BBSs). Initially, auctioneers and sellers posted notices detailing items for sale, minimum bids, and closing times on platforms like CompuServe and The Source. As the popularity of online auctions surged, dedicated websites specifically for this purpose emerged around 1995.
Online auctions gained prominence in the late 1990s, with platforms like eBay leading the way. These platforms allowed users to bid on items from the comfort of their homes, breaking geographic barriers.
Over time, online auctions expanded beyond collectibles and antiques. Today, online auctions cover a wide range of products, including electronics, clothing, art, and even real estate.
Online auctions attract a diverse audience worldwide, as participants can bid from anywhere, eliminating the need to be physically present at the auction house. This benefits both buyers and sellers. Buyers can bid at their convenience, anytime and anywhere. Multiple auctions can be attended simultaneously, and there is no need to navigate crowded auction halls.
Online auctions can also offer a wide array of products, and quick searches help buyers find specific items they desire. No central location is required for products, and auctions can save costs on rent and logistics compared to physical auctions.
Many online auction sites allow buyers to submit pre-bids, ensuring participation even if they miss the live auction. Other auction sites, such as eBay, offer products for bid over an extended period, allowing bidders to participate for days or weeks.
There are also disadvantages to online auctions, although in-person auctions are not necessarily trouble-free.
Online auctions can lead to fraud or leave buyers vulnerable to scams. Deceitful listings and counterfeit goods are often a concern. However, this can be reduced by researching sellers before bidding, scrutinizing product descriptions and images, and being cautious about non-deliveries or counterfeit items. Secure payment gateways are also important. Some people go a step further and use prepaid debit cards that are not tied to a bank or credit account for online purchases.
Other disadvantages to online auctions might involve connectivity issues, server crashes, or glitches that can disrupt bidding. Unlike physical auctions, online platforms can't limit the number of participants, which can add to the difficulties of making a winning bid.
Delays between bidding and product delivery can frustrate buyers. Online auctions lack the excitement of a live auction room so that some bidders might miss the adrenaline rush and social interactions of live auctions.
While online auctions offer convenience and global reach, they may require vigilance against fraud. While online auction sites will generally take steps to reduce the likelihood of fraud on their platform, bidders and sellers also need to look out for themselves. Through understanding the risks and taking precautions, participants can enjoy the benefits while minimizing potential pitfalls.
Choosing a reputable online auction site is also essential. Potential sellers and bidders should look for a user-friendly platform. The auction site should have intuitive navigation, including a clutter-free interface, clear product descriptions, and transparent auction rules.
While there are many others, some of the better-known online auction sites are eBay, HiBid, AuctionZip, DealDash, Invaluable, Liquidation, PropertyRoom, Atomic Mall, eBid, and Webstore.
These, and any other online auction platforms are appropriate resources for this portion of our web guide.
Recommended Resources
Offering lists of online auction sites in the United States, the website arranges listed sites into the following categories and subcategories: general, electronics (laptop, cell phone), jewelry (jewelry, diamond, watch), fashion (clothing), collections (coin), and transportation (bike). A review or description of the auction site is provided for each listed site, along with popularity ratings and links to the online auction site. Videos give additional information about the auction site.
https://www.100auctionsites.com/
AuctionZip lists live and online auctions for various items, including antiques, arts, cars, coins, collectibles, real estate, tools, and several other products. Thousands of professional auctioneers and millions of auction buyers come together on AuctionZip to find and list auctions. Visitors to the website can search by keyword or zip code, browse state or region pages, or browse its extensive database of live auctions. Full listings, photographs, and auctioneer information are displayed.
https://www.auctionzip.com/
Based in California, eBay is a multinational company that brokers customer-to-customer sales through online marketplaces in markets worldwide. Sales occur either in online auctions or through "buy it now" instant sales, with commissions charged to sellers. Those wanting to use eBay will create an account and add payment preferences and other details. Tools are available for finding items of interest, allowing users to search by keyword, browse categories, or explore eBay stores.
https://www.ebay.com/
Based in Canada, this auction site allows sellers to list their items for free, without any reserve fees whatsoever. Seller stores under two hundred items are also free, and the site has fewer restrictions than many other online auction platforms. End-of-auction fees do apply, however, and there are fees for stores with more than two hundred items. Items may be found through a keyword search or by browsing product categories. An online contact form is provided.
http://www.free-auctions.ca/
The General Services Administration (GSA) is an independent agency of the United States government established in 1949 to help manage and support the basic functioning of federal agencies. The GSA sells surplus property from federal agencies, including items no longer needed or used and forfeited personal property. To this end, the agency conducts online auctions, allowing nationwide visibility and competitive sales. These auctions attract more bidders, leading to high bids and prompt sales.
https://www.gsaauctions.gov/
Established in 1999 after eBay began restricting gun sales on its platform, GunBroker is one of the world's largest online marketplaces for firearms. Products offered for sale on the site are sorted into the following categories: Collectible, Defense, Hunting, Recreational, Sporting, and Tactical. Tools for buyers and sellers are provided, along with information on how to make a purchase, how to sell an item, pricing information, and finding a Federal Firearms License Dealer.
https://www.gunbroker.com/
HiBid is an auction platform for selling a wide variety of items, from real estate, cars, and fine jewelry to collectibles, sports, memorabilia, and personal property. These may be open for bidding on the platform at any given time. Thousands of auction companies use HiBid to conduct live webcast, online-only, and absentee bidding auctions. HiBid supports multiple types of online bidding, giving auctioneers the options to host large and small auctions, in-person or online.
https://hibid.com/
Founded in 1997, iCollector has over a thousand auction house clients worldwide, including some of the top auction houses and licensed dealers in their respective categories. Specializing in coin auctions, vintage collectibles, gaming memorabilia, collectible firearms, movie props, and original set costumes, its clients place native memorabilia, original prints and paintings, as well as vintage jewelry and diamonds. Its main service is pay-per-use access to its platform.
https://www.icollector.com/
Liquidation is an online platform on which businesses can liquidate their overstock merchandise. The site connects buyers with sellers in the liquidation industry. Sellers list their surplus inventory, which buyers can purchase at discount prices. Prospective buyers can filter by category, condition (new, refurbished, etc.), and location. Auctions and fixed-price listings are available, according to the seller's preference. Its brands, a help section, and contacts are provided.
https://www.liquidation.com/
Police Auctions is not affiliated with local, state, or federal governments. Vortel Group founded it in 1999, originally as a list of links to government auctions and other interesting websites, but has evolved to include comprehensive government auction data and a non-government auction business with $1 no-reserve auctions featuring a variety of items. Based in California, the company provides an online support form, including after-hours support. Testimonials are posted.
https://www.policeauctions.com/
Pro Auction is a high-end auction house that provides a bespoke and sophisticated service to buyers and sellers, such as those wanting to buy upmarket furniture, fixtures, and equipment, as well as those who want to dispose of luxury property items for the best return. Its focus is on furniture, fixtures, equipment, and operating supplies. General auctions, auctions by sector, and an overview of its services are set forth. Its head office, saleroom, and an online contact form are provided.
https://proauction.com/
Goodwill Industries is an American non-profit organization that operates in several countries and provides job training, employment placement services, and other community-based programs for people who face barriers to employment. Shop Goodwill is an e-commerce auction platform created, owned, and operated by Goodwill Industries, designed to provide an online shopping destination that would further the organization's mission. Auctions in progress are available to registered users of the site.
https://shopgoodwill.com/
Founded in 1999, Trade Me is New Zealand's largest online auction and classifieds website and the fifth most visited in the country. Participating traders use New Zealand's banking system to settle payments, although credit card payments are also accepted. Australian sellers must have a New Zealand bank account, while sellers from other countries are only allowed on the site with special approval. Only one membership per private person is allowed, and membership is for life.
https://www.trademe.co.nz/
Serving stamp and postal history collectors since 1972, Vance Auctions operates philatelic auctions, offering thousands of worldwide lots every eight weeks. Beginning as a one-man operation, the business now runs six auctions a year and employs a staff of fifteen people, who are introduced on the website. Its website features a catalogue index, and a printed catalogue is available upon request. Instructions for bidding are provided, and auction news is posted.
https://www.vanceauctions.com/
