Going once, going twice: online auctions offer great deals.
Gia Kenner, a 23-year-old graduate student at Hampton University in Hampton, Virginia, appreciates the bargain basement prices of eBay because it "doesn't cramp [her clothing] style." She purchased a designer handbag for about $300 less than the retail cost. She raves, "As a grad student, it's more economical for me to purchase things from an online auction. I had a great experience and the item was authentic."
So how do these auctions work? Websites vary in setup, but on eBay, for example, there are throe quick and easy steps: (1) Search for an item by inserting the item's name or by selecting a category; (2) Buy the item if the price is right. Or, you can enter a bid of the maximum amount you wish to spend; and (3) Once the seller accepts your bid, pay for it. When the payment is received, your item is shipped.
Before you place a bid or buy, review the product details, payment, and ship ping instructions, and if you have questions, e-mail the seller. Here are some other invaluable tips:
* Check out the seller. View previous buyers' comments about the seller.
* Determine your top price. Don't bid on an item you don't intend to buy. Once you place a bid, it's a binding agreement.
* Know what you're buying. We checked out the 20GB Apple iPod, which retails for $399. We found bids for new ones on eBay ranging from $260-$366.50. However, the terms and conditions were limiting. All sales were final and for U.S. bidders only.
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|Title Annotation:||Secret Savings|
|Author:||Johnson, Raelyn C.|
|Article Type:||Brief Article|
|Date:||Feb 1, 2004|
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