Advice For A Seamless Online Auction Experience

Online auction platforms, such as the MHC auction platform, provide excellent opportunities for purchasing items from both local and international sources, whether they are used or brand new. The greatest advantage is the convenience of being able to buy and sell items on auction at the touch of a button.

Most people have excellent experiences with online auction sites, and with just a few safety precautions, you can ensure a seamless shopping and selling experience.

Read The Terms And Conditions

Read the terms and conditions before bidding in online auctions. Every auction house is unique. They have their own set of terms and conditions. Whenever you bid or register in their auction, you are committing to these terms.

A bidder's failure to read the terms and conditions can lead to several complications, so it's important that you read them to determine how they will affect your registration, bidding and buying experience.

Read the MHC World Terms & Conditions can be found here. 

Do Your Research

Potential buyers' and sellers' reputations should be reflected on auction platforms. Sticking to vendors or auction houses with long-standing reputations is your best bet. 

Research the item you're bidding on:

• What is the going rate?
• Is the product new or used?
• Read the fine print of any product description to ensure you know precisely what you're getting. 

If you are a buyer, you should print the full description and fine print it for future reference if there is a problem. 

If you're a seller, this data is a valuable tactic for comparing your item to what others are selling.

Set Your Maximum Bid

Online auctions can be extremely exciting, causing bidders to get "lost in the moment" and spend more than they would want on a lot. To prevent this, online auction platforms implement systems that allow you to establish a maximum bid. Include any premiums and taxes when calculating your maximum bid, as these will eventually increase the total spend.

The phrases to understand are 'Buyer's Premium' and 'Sales Tax'.

• Buyer's Premium: The amount added to the winning offer. It is generally expressed as a percentage and is applied to the winning bid price.
• Sales Tax: Sales tax is levied on the winning offer. This is included in the hammer price (the highest bid).

If that feature isn't available, it's important to stick to your budget and avoid getting caught up in a bidding battle. Bid only what you're willing to spend.

Conduct All Transactions On The Auction Platform 

Never let a buyer or seller persuade you to complete the transaction outside of the auction site. A popular scam involves sellers or buyers convincing you you can avoid the auction fee by dealing directly.

But through an auction platform, you benefit from third-party security and accountability.

Let The Bidding Begin

At MHC World, we want all online bidders to bid with confidence. Our auction site is an excellent alternative to internet shopping, and there are some unbeatable deals and one-of-a-kind items to look forwards to, so keep an eye out for updates.