Online Auctions

Online Auctions

Features

• Can bid items, feedback/reviews
• Phishing emails - criminals can steal your information
• Websites can be fake
• Ebay allows people to bid for 2nd hand items and they are handed over in person
• You can create an account to purchase, sell and bid
• Auctions will last a certain amount of time
• 3rd party payment - safely transfer money
• Make offers and the seller can accept or refuse your suggested price
• Cap amount/max bid - your bid will automatically go up to that amount but no more
• You can give negative feedback or have a dispute centre to complain if something goes wrong - this is good for checking a seller's reputation

Penny Auctions

• Madbid, penny auctions - the auction ends once all bidding has ended - no time restriction
• You can become more sucked into bidding

Advantages/Disadvantages

• Items could be cheaper than elsewhere - there's no set price
• Convenience - don't need to actually visit an action centre as you can do it from home if you have internet connection
• A choice - not only buying from companies but other people, too: worldwide and UK
• Gifts may not arrive on time as sellers may not be reliable, have to wait for the auction to end
• Risks - as above
• Difficult to return goods
• May have to pay higher delivery costs
• Location - if it's from anywhere else in the world it may take longer to arrive (shipping etc.)

Risks

• 'Looks like new' - may be poor quality
• Ensure emails are official, contact the auctioning site directly to check
• Payment before giving the item
• Buy from reputable sellers with + feedback
• Log out - closing browser window is not enough