Reality TV has become somewhat of a staple in our culture. One of the “realities” highlighted recently is the exciting world of auctioning, which has reminded a whole new generation of the hidden treasures to be found at auction! Auctions have always been a great way to make extra money, whether that’s by consigning your stuff to sell or buying items at a low cost with the hope of selling high and making a profit. These are both great ways to earn a little extra cash, and there are steps you can take to ensure a pleasant and successful experience. The key to success in this business, whether you are a buyer or a seller? Research, research, research. An informed bid is always a successful bid!
If you are a buyer, it’s crucial not only to know what you’re bidding on, but the conditions under which you are bidding. Most auctioning websites (if not all) will have a page with their rules and regulations, similar to our Terms & Conditions Page. This page is your new best friend: it will tell you about the company’s return policy, if they have one. (Note: most auctions, including Pot of Gold, do not include a return policy, meaning that all sales are final.) It will tell you about special shipping procedures, payment options, and so much more. Does it take a little extra time to read the fine print? Yeah. Is it worth it in the long run? Absolutely! Because if you’ve read the fine print, when it comes time to purchase, pick up, and even re-sell your items, there are no surprises.
If you are a seller, research is equally important, if not more so. We have many people who purchase items at Pot of Gold and make a great turn-around selling the items at antique stores, on E-bay, or even at other nationally recognized auction houses, such as Heritage Auctions. If you are looking to re-sell your items, we encourage you to become familiar with those venues’ rules, terms & conditions as well. Online sales venues, such as E-bay and Heritage have very strict rules about what items they allow. Say, for example, you’ve purchased an item that comes with a Certificate of Authenticity (otherwise known as a COA), and you’d like to re-sell this treasure on E-bay. You’re going to want to know (1) who your COA was issued by, and (2) whether or not E-bay will accept items by that authenticator. This information is so helpful to know before you start selling, so once again, we encourage you to do your research! It’s always a good idea to know the policies of the people with whom you’re doing business.
The tradition of auction is rich with stories of tremendous treasures being bought and sold. The internet has opened up a powerful research database, making it possible to become more knowledgeable and educated about making purchases than ever before. Online bidding has allowed for immeasurable opportunities, both for the most timid and most avid bidder. As a result, auction is sure to capture the imagination of current and future generations, and keep the tradition alive and thriving!