Where are the best online auctions? If you're a deal seeker like we are (who isn't with prices as high as they are right now), online auctions are probably already on your radar. If they aren't, you've definitely come to the right place. There are tons of ways to find deals on things you need (and some you never knew you wanted) through online auctions.
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Liquidation is an online auction site and marketplace for wholesale surplus, customer returns, and inventory that hasn't been sold by retailers. Think Amazon, Target, Lowe's, and more (and all the items you might be able to score for less), and you'll be on the right track. Basically, if you're looking for great deals on stuff you would buy from your favorite retailer anyway, Liquidation is a top pick for scoring everything from home appliances to kitchen basics. However, the items often come in pallets and truckloads, so you usually can't buy just one item at a time.
Search lots and pallets right away
Liquidation is easy to start browsing. You don't need an account in order to start checking out the pallets or truckloads of items. During our initial search, we saw truckloads from Amazon (including things like laptop computers or Samsung Galaxy phones). You can search for particular items and will be shown pallets and packs that might include those items. Or you can use the advanced search settings to search for particular categories, keywords, or lot prices for online auctions. Lots generally come with a manifest list so you can see how many of each item are in a package and the condition of individual items.
Bid online and buy now options
Liquidation is only through fully online auctions. You can bid on the packages until the lot is closed. Some show the current price (with a buy now option), though, for some pallets, these can be in the thousands. Others show a current bid, and some have a "sealed bid," so you can't see the results until the end. Most items are in truckloads or pallets, but some surplus retailers will sell off individual items in perfect condition (due to customer returns from the original retailer).
Limited helpful search results
Liquidation is harder to research in terms of specific items. Unlike many other online auction sites, Liquidation doesn't have as many options for sale as individual items. Further, when you search for something specific, this site includes search results that are related but not the term you used. For example, when we searched for diamond rings (which we looked at on every online auction site), Liquidation showed us 44 active auctions with diamond ring as a keyword. Only a handful of those actually had diamond rings in the listing. For our other comparison search terms, like KitchenAid stand mixer (9 auctions), sedan (15 auctions), and antique (48 auctions), there were definitely more limited options than we've seen at other auction sites in our review.
Higher premiums based on average auction costs
Liquidation has buyer's premiums that range from 5-10% (depending on the settings of individual sellers). There will also be an additional sales tax applied after you complete your purchase with this online auction. This isn't too bad, except with lot costs in the thousands, you might be looking at pretty hefty premiums on top of the cost of the auction itself.
No refund policy built in
Liquidation sells its lots on an "as-is" basis, like many of the online auction sites in our review. This means that there is no return or refund policy built into the site. All sales are final unless you can prove that what you received was not the same as what the listing or manifest promised. In this case, you might get your money back, but some customers report still having trouble getting any money back from Liquidation.
Problems with misleading listings
Liquidation holds a perfect "A+" rating from the Better Business Bureau. However, on third-party review sites like Trustpilot, Liquidation has just 1.3 stars out of 5. According to feedback within the last few days, Liquidation has earned multiple 1-star ratings from customers who were frustrated with the lack of clear information on lots. For example, one customer purchased a pallet that was supposed to have "new electronics" and only had charging cords and iPhone cases (no actual tech). Customers also note that the photos on the listings don't mean those items are actually in the shipment, and feel that Liquidation is being dishonest by posting "example" photos that don't actually appear in the auction. "Misleading descriptions" is one of the most common complaints about this online auction site.
Too costly for many customers
Liquidation is a unique idea for finding low-cost items from big companies. However, in practice, it may not work out for most people. The prices for pallets can be anywhere from $2,000 to $20,000. You're generally buying surplus items in bulk, and you don't know much about what you're getting (which makes it easier for Liquidation to say you can't complain about the condition). With regular complaints from customers about misleading listings, no refunds, and no help from Liquidation, it isn't a top pick. In fact, you might miss out on real savings altogether if you're dropping 5 figures on a pallet. Unless you know you can use the items, this online auction site is a bit of a free-for-all with what might show up at your door.
Continued from above...
If you're a deal seeker like we are (who isn't with prices as high as they are right now), online auctions are probably already on your radar. If they aren't, you've definitely come to the right place. There are tons of ways to find deals on things you need (and some you never knew you wanted) through online auctions.
There are auctions for every possible need. Whether you're looking for general items like books, clothing, appliances, and more, or big-ticket items like cars, boats, or even homes, there are auctions to help you get the best deal for what you need.
Online auctions make it much easier to find what you want at a much lower cost. In years past, you'd have to keep track of auctions in your area and go visit in person to hope for getting a good deal. Now, online auctions help you track all that and combine different auctions all in one place. Looking for estate sales? You'll be able to buy items directly from an online auction site.
If you still like the thrill of bidding against others, don't worry. Many online auction sites still offer live auctions where you can bid against others, or attend auctions via video call. If you're just looking for a deal (or you find the bidding war approach too stressful for finding your next KitchenAid at a discount), you can find plenty of options on online auctions that are buy now, or that you just type in your max bid and let the auction run. If you put in the top amount, you'll be notified when you win. Easy.
There are two main types of online auctions. The first type is business-to-person. This type of online auction is where a major business or website buys items from customers or manages online auctions, estate sales, or live-streamed auctions, so it feels more like shopping at a traditional retailer for many items. Business-to-person online auctions also usually include professional item appraisals, so you can be sure the items are legit. The other main option is person-to-person online auctions. These sites allow individual sellers to list items for auction, so you'll be buying directly from another individual who listed items on the auction site.
In general, at online auctions, you'll find more convenience and lower costs than you might at an in-person auction (which is ideal if you're trying to score those deals). You might see some new terminology if you're joining online auctions for the first time, but don't worry. It's not too bad. You can make "pre-bids," which is where you submit your highest amount before an auction goes live, or "real-time" bids, which is when you bid while an auction is ongoing. The reserve price is a number set by the seller (and not all items have one), where the seller is only willing to let an item go for that amount or more. And a "buyer's premium" is an extra fee paid if you win an auction (also optional and not present on every online auction or item).
Now that you know the ins and outs of online auctions, you're ready to jump in and snag deals you can't find anywhere else. To help you find the best sites to place your bids, we've put together a checklist to guide you to the best fit:
If you're ready to jump into great deals with online auctions, we're excited to help. To make sure you have the best experience possible, Top Consumer Reviews has researched and ranked the top online auctions out there today. This way, you can feel confident that you'll get the most customer-friendly experience from your next online auction, and enjoy the spoils of your shopping spree. Happy deal hunting!
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Top 3 Tips For Buying In Online Auctions
Online auctions have really skyrocketed in popularity. Any item that you could ever wish to own is probably being sold in an online auction. In the clothing category alone, over 2 million items are being auctioned off at this moment. New merchandise, used merchandise, rare merchandise, even "celebrity" merchandise - it's all there. Did you know that there have been over 50 books written on how to get the best online auction experience? For those of you who have never had the pleasure of shopping in an online auction, we'll walk you through 3 basic tips for your success.
First, do your research! When going to an online auction site, you'll be able to type in the item you are looking for, or can narrow the search by selecting categories and choosing from there. Be as specific as possible. Take, for example, clothing. If you know the brand, size and even line you are looking for, this will make your search much easier. Then, research the seller. Is this someone was has mostly positive feedback or have they had problems shipping their items? This is easily viewed online. Reputable online auctions have built a solid reputation as safe places to buy and sell. That's why most all transactions from both seller and buyer are given feedback. Look for such seller qualities as a fast shipper, item as described and good communication. Be wary of a seller who has a lot of negative feedback. You may be getting the best price, but you might be sacrificing its good condition.
Second, visit the online auction site often. There are a couple of reasons for this. In the unlikely event that what you're looking for is not being sold, check back. Take, for example, one of our reader's experiences they had with wanting to purchase a particular item.. The first time they looked, there were none being sold. They checked back a few days later and there were 5 being auctioned off.
Another good reason for checking the online auction site often is that you'll usually get a better deal. Here is another example; one of our readers wanted to purchase a set of books called America at School from American Girls. One month, this book set was going for over $100 dollars. They kept watching and looking. Two months later, they purchased the book set for $26.00 at the very same auction site. Not a bad deal. Often times in online auctions, items are sold for more than what the buyer is willing to pay. Keep looking and you could get that bargain buy that you're looking for.
Third, wait to bid. This is the single most important fact to buying in online auctions. Many new buyers bid too early (the amount you have purchased or sold is usually available to the general public). This backfires for two reasons. One, it causes the price of the item to increase, because seasoned shoppers know to wait until the last few minutes to bid. Two, it also triggers a competitive aspect to buying. It's pretty common for two new buyers at an online auction to get into a bidding war a day or two before the auction closes. Then, at the last minute, another buyer will bid and win the merchandise. The exception to this rule of course is if you are unable to be at a computer when the auction closes. Then you just have set your highest bid and hope for the best.
Remember, you win some and you lose some, but that's the fun of online auctions. Good Luck and remember to have fun!
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