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Sizing UP Live Auction Sellers...
eBay Live Auctions can be a valuable link to sourcing product on eBay to resell. The following are tips which could help you save money when attending an eBay Live Auction:
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Does the Live Auction seller require a Equifax Report or Credit Card on file, when registering to attend a Live Auction Event...
- If the bidder clicks the "Bid" button by mistake (which can happen) and the bidder seeks to withdraw the bid, the seller can still opt to charge the 15% Buyer's Premium. In this case, the "mistake" will cost the bidder 15% of the hammer price. The hammer price is the additional percentage charge on the sale of the item. If the bidder placed a bid for $100.00, the bidder could be liable for the $15.00 Buyer's Premium. Add a 10% Re-Stocking Fee and the bidder stands to lose $25.00.
- Requiring an Equifax Report of the Bidder should not be necessary, as ONLY registered eBay users may attend and/or register for Live Auction Events. If the bidder has an eBay account, their account information is currently on file with eBay.
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Does the Live Auction seller charge a re-stocking fee with a guarantee return policy...
- A Live Auction is an "auction" and not a "Buy It Now" (BIN) event. If the Live Auction seller offers a 100% Money Back Guarantee then read the fine print. In some cases, if the winning bidder returns an item (for any reason), the bidder/buyer may return the item LESS the 15% Buyer's Premium and a 10% re-stocking fee (not including shipping fees).
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Does the Live Auction seller charge shipping based upon the VALUE of the lot won or, the ACTUAL shipping charge imposed by the carrier..
- Any eBay seller (Live Auction or otherwise) should always charge shipping based upon what they are charged by UPS or USPS. If a Live Auction seller charges $15.00 or $20.00 to ship an item, which has a value of $100.00 or $200.00, then there's something very wrong.
- Live Auction seller may require signature confirmation for the item however, if the post office charges $6.00 for Priority Mail (which includes $100.00 for insurance) and, UPS charges $9.95 for ground (which includes $400.00 for insurance) then why should any buyer pay a "premium" for shipping?
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Does the Live Auction seller have an inordinate amount of Negative Feedback...
- Feedback will inform buyer's how the Live Auction seller treats their customers. If a Negative is left for the seller (by a winning bidder) is the Feedback left by the Seller "factual" or does the Feedback left by the Seller for the Buyer have an unprofessional tone?
- Live Auction sellers who leave Negative Feedback, which basically sends back a message to the buyer such as; "read the bidder policy" or basically "too bad, you won it, it's yours" then one should question the "professional and courteous" nature that is representative of that Live Auction seller.
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It all ADDS up...
- If a Live Auction seller charges a 15% Buyer's Premium plus, a Re-Stocking Fee and High Shipping Charges, based upon the "hammer price" of the item(s) won, the bidder should REVIEW all Feedback left by Buyer's.
- Review the "Return Policy" for hidden fees.
- Review the "Shipping Policy" for excessive Shipping Fees.
- Review the "100% Guarantee" (for fees), which may be applicable to returning item(s).
- In order to prevent "unwanted" or "unreasonable" fees applicable for returns, bidders should REVIEW the Bidder Registration form BEFORE disclosing Credit Card information and/or permitting any seller to acquire an Equifax Report.
Other guides relating to jewelry and gemstone buying which you may find helpful are as follows:
Guide created: 04/15/07 (updated 06/16/09)
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