Top 7 Things You Should Know Before You Bid On A Business Product From An Online Auction

1. Know the value of the product before you bid. If the product is brand new, check to see what price retailers are charging for it. If the product is used or reconditioned, you will want to pay way less than the retail value.
   
   
2. If the product's description or picture isn't detailed enough for you, contact the merchant to get more information before you bid. You don't want to take a chance to waste your hard earned money.
   
   
3. Know the highest price you will bid for the product and stick with it. Don't get caught up in a bidding war; you may end up paying more than the product's worth. Don't forget to add in the shipping price with your bid.
   
   
4. Visit a few online auctions before bidding because some merchants auction the same product in many auctions. You usually can purchase the product for a lower price in an unpopular auction because there are less bidders.
   
   
5. Know the time the auction begins and ends. You also want to know how long it will take to ship. If you need the product by a certain date, you'll want to estimate the time it will take to receive it.
   
   
6. Know the payment options the merchant accepts before you bid on their product. If they only accept checks or money orders, it may take even longer to get the product because the payment has to clear. If they accept credit cards, make sure they have a secure server.
   
   
7. Know if the merchant offers a warranty or money-back guarantee before bidding on a product. You don't want to get stuck with a product that does not work or you're not satisfied with.

Today's Top7Business article was submitted by Larry Dotson.
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