Selling by auction is a process that has been around for many centuries and the general principle of trading goods and agreeing to sell them to the highest bidder hasn’t really changed much in that time.

However, the platform for selling by auction has certainly changed since the world went online and that means that bidding for items online and place a proxy bid can all be done without leaving your home or office.

Online auctions are understandably popular and here is look at some of the main reasons why that is.

More choice

One of the drawbacks to a traditional auction that you have to attend in person is the fact that you are limited to the lots that are going under the hammer and that means you might not find what you want, resulting in a wasted journey.

With an online auction, you can browse a lot more items in a much quicker time and you can view several auction sites at the same time which improves your chances of getting what you want.

If you are looking to buy a specific piece of business equipment, for example, it is less time consuming to browse several online auction sites and place a bid than if you had to drive to a venue on a specific time and date, only to find that someone outbids you.

With such a large online audience to sell to, online auction sites can afford to offer a decent number of lots in each sale resulting in more choice for bidders.

A strong market

It is estimated that somewhere in the region of 80% of online bidders have actually made a purchase at some point.

That must compare favorably to how many end up making a bid when they attend a traditional auction.

The significance of that trend is that sellers are keen to offer their products via an online auction because they know the market is strong and there should be a number of bidders competing for each lot.

It makes sense that sellers will be keen to go down the online auction if they know that there is a growing pool of committed purchasers who are just waiting to hit the buy button when they see what they want.

Choice of payment options

If you bought an item that was coming under the hammer at a traditional offline auction you would then have to make arrangements to write a check and wait for it to clear before the items are released and become yours.

There is always the possible option of payment using an online escrow service to ensure that the goods are paid for and it is worth remembering that this should prove to be a more efficient way of settling things without the need to use an expensive credit card as the backup plan

Bid with more certainty

It can be really frustrating to bid for an item at a traditional auction only to find that even when you are the highest bidder you don’t get to take the item home with your because the lot is then withdrawn or you get gazumped.

In comparison, if the online auction set up is framed around unconditional online auction rules you know exactly where you stand. In addition, with a conditional online auction, the highest bidder is given a period of exclusivity in which they then have to exchange contracts and complete, when a property is being sold.

Whatever it is that is being sold, knowing that the infrastructure is in place to ensure that online auctions are efficient and lots are sold rather than withdrawn it should allow you to approach the whole process with a degree of certainty.

No geographical restrictions

If an item is being sold via an online auction it doesn’t mean that the item going under the hammer has to be transported to the auction house.

If you are bidding on something that can be shipped with ease, using an online auction site allows you to search out what you want using an online portal and place a bid.

Knowing that an item like business equipment is available somewhere in the country won’t present a problem if it can then be shipped directly to your door.

You can be more price conscious

When you are bidding for something at a traditional auction it can be all too easy to get carried away in a bidding war with a rival bidder and end up paying more than you intended to for the item.

One of the big advantages attached to bidding for something online is that you can easily compare prices online, even while the bidding process is going on.

If you have your eye on something specific it could be money well spent to shop around and research how prices are holding up overall so that you have a clear idea of what you should expect to pay.

Bidding online can make you more cost-conscious and you can always check out other rival sites and see what they are charging to confirm that the price you have bid is very competitive.

Save time and money

The real no-brainer advantage that online auctions enjoy is that by bidding over the internet for a variety of household items, for instance, you can quickly compare what others are selling the products for with just a few clocks.

All things considered, there are numerous compelling reasons why an online auction site wins the day when compared to a more traditional auction at a physical location

Not having to travel to bid or collect your auction item is a big advantage and puts you in greater control over the bidding process, so if you want to save as much time and money as possible it seems that the online argument wins the day in comparison to an offline alternative.

Modern commerce has greatly evolved in line with the growth of the internet and many businesses operate almost exclusively online. Online auctions are part of that story and if you want to bid for something it is much easier to find what you want and bid for it online in comparison to spending valuable hours visiting numerous auction buildings in an attempt to source the item and then go through an auction process that could easily last a couple of hours, without the guarantee of being the successful bidder.