Tuesday, August 9, 2011

Tick-Tock Auctioning on the Clock - Bidding on Luxury Watches

We tend to think of online auctions as places where people buy and sell baseball cards or other smaller ticket items. In that way, the general impression of an online auction is that they are no more than the cyberspace version of a garage sale. If that were true, then you may never think about buying a high-ticket item such as a luxury watch using an online auction site like eBay.

That preconception about online auctions should be revised, if not thrown out the window, in short order. Many high-ticket items that are quite legitimate are sold every day using online auction websites like eBay. For the buyer, the opportunity to snag an outstanding bargain on that perfect watch you have had your eye on is exciting. But, like any other marketplace, you have to know the ropes on how to bid on luxury watches online if you want to win that bid and bring home the hidden treasure you can win there. Here are some tips on how to bid on luxury watches using an online auction site like eBay.

Before you even start to browse through what kind of luxury watch offerings are on an auction site, know your stuff. That means doing your homework in advance so that you know the make and model of the luxury watch you want. Many luxury watches are imprinted with a serial number and other identifying information. By studying the genuine article, you will be able to spot a fake that is being offered online as the watch you want. This is a good talent to cultivate.  For more advice on spotting a fake, check out this other blog article from PriceAdvice.

Part of your research should also include finding out the right price to pay.  By coming to PriceAdvice first, you’ll discover the appropriate price range for the specific luxury watch you want.  PriceAdvice will also give you a range of sites from which to purchase your preferred model at or below current market value.  Those watches will be a perfect fit for what you want, so that is good shopping. If you do not get a “hit” on the exact watch you want, you can always wait a few days and patiently prepare for the purchase or you can switch to some good alternate luxury watch models that you would like to have just as much.

Once you find the exact auction you are interested in and you are ready to take a stab at bidding on that luxury watch, there is one more step of preparation. Spend some time looking at the seller and validating that the company or individual that is selling the luxury watch is going to deliver the real product and not a knockoff or a cheap imitation. The seller rating and number of feedbacks are good indicators.  When you are satisfied that you will be bidding on the genuine luxury watch you have in mind and that if you win, you will be buying that watch from a legitimate seller who is not selling knockoffs or fakes, you are ready to make your bid.

Because you researched pricing on PriceAdvice, you’ll know exactly what that luxury watch should sell for. Therefore, when you bid, you will know how much savings you could realize if you win that bid price. The bidding process is not difficult and because you will see the other bids, you can be sly in your bidding strategy. You can go with the “$1 over” approach, but that can lead to a lot of back and forth bidding. Look at the increments others have gone up on the bids and follow that pattern and you will be taken seriously as a bidder.

Take some time either before the bid or as you wait for the bidding process to complete to understand the buyer protection programs that the auction site provides. You should know how to go forward if you do not get delivery or if you get a defective or knockoff watch so you can step through the process of resolving the problem.

Be honest in paying for your luxury watch on the auction site in keeping with the payment requirements of the bid. The real enforcement of the transaction, both for the seller and the buyer, is the rating system and how the auction site treats those who do not play nice. In the case of eBay, a negative rating or being banned from the site can be devastating, so do your part to keep a good reputation on the website. Then the next time you want to buy a luxury watch or some other fun items or even baseball cards, you will be in good shape to enjoy the online purchasing experience.

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