Auctions and bidding are old methods of selling various product and have been here for many years. The basic idea is that the best offer is received and so, whoever offers the highest amount – wins the product. Today you can see a new bidding method which is Internet bidding. The guiding principle for internet bidding is that there is a closing time for the sale. In auctions the time is short and the auctioneer urges the customers to make an offer, and so on the internet the time limit idea is also kept.

Internet bidding

Along with the internet appearance and the perfection of data protection measures, internet bidding websites were established.
These websites offer thousands of marketing products, from all walks of life, in starting prices that usually equals 10% of the retail prices.
For someone to bid he first have to register to the site. Every site asks to conduct a different registration process of its own. In this section the following details should be filled: Full name, Address, Phone number and Age. Afterwards, a unique username and a private password should be selected.. Usually, on this stage there are no requirement for adding payment method details. The next step is to find the requested product, to conduct a small research and check its retail price so you can decide the most profitable offer.

Where is the catch?

Most of the internet bidding websites charge a fee for every bid you serve, and that’s where their profit lies. The products are usually sold in a in a non profit pricing, but the site’s profit is embedded in thousands of bids of all those people of did not win but did pay for the bidding. Some websites allow to bid free of charge, but usually they offer simple products and the starting price is not so low. The winning bid is the highest and the most unique. Pay attention!The word unique means that there are now other bids with the same price. If two separate people offer the same bid the are both disqualified.

Useful tips 

It is recommended to carefully check the credibility of those internet bidding sites. How known are they, how many sells they make and many years of experience they have. You may want to check with the bidding site’s customer service if it has truly available phone numbers with real answering. You should also find out whether there is a physical address for customer inquiries.

It is highly important to carefully read the terms of use of these websites. Notice that there are different versions of these terms from site to site and every internet bidding site goes under different rules. Finally, check which data protection protocol does the site uses and if there is a secure connection indication in your browser.

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