Others think of auctions where people stand around an item up for bid, and auctioneers trumpet the bids so fast and furious, that bidders are caught in a whirlwind of bargains. The Internet has changed the way many consumers participate in auctions. By providing a web site on which sellers can offer their merchandise to the highest bidder, Internet auctions have become a popular and fun way for consumers to get merchandise. While Internet auctions may be a great way to get merchandise that consumers cannot find in their local shopping malls, consumers need to arm themselves with knowledge before participating in Internet auctions. Con artists are using Internet auction sites as another means to defraud consumers.
Internet auctions operate in various ways.
Most Internet auction sites track sellers' previous transactions and allow buyers to provide testimonials regarding their experience with sellers. Be sure you understand what you're bidding on, its relative value, and all terms and conditions of the sale, including the seller's return policies and who pays for shipping. Establish your top price and stick to it. Evaluate your payment options. If possible, use a credit card.