12/ 13/ 2005
by Tamara E. Holmes
If you're in the market for new equipment, or if you want to get rid of the equipment you currently have, you may be able to find a good deal without leaving your desk, thanks to the world of Internet auction sites.
With the proliferation of Web sites such as www.ebay.com and www.ubid.com, you can make some money by selling older equipment and pick up other items at bargain prices in the process. The premise behind such sites is simple: Buyers and sellers come together in a virtual community to swap goods and equipment for an agreed upon price.
You can find Internet auction sites by logging onto www.internetauctionlist.com. The site features links to auction sites that specialize in various categories of items ranging from electronics to art.
To buy items on such sites, you generally don't have to pay up front. Most auction sites contain categories of products that you can sort through, or you can enter the name of the type of item you're looking to buy. Any listings that fit your criteria will be displayed. Each item for sale will be accompanied by a product description, which you can use to make sure the equipment is what you're looking for. Some sites also let you ask the seller questions about the product to help you through your decision process. Once you've found an item you'd like to buy, you can bid on it. Like all auctions, the more in demand the product you're looking for, the more you're likely to pay.
If you have equipment you'd like to sell, you're charged a small fee that’s proportional to the cost of the item being sold. You determine what you want the starting price of your auction to be and how long you'll accept bids. When you have a buyer, contact him or her and ship the equipment, once you have made payment arrangements.
While the process of buying and selling items in online auctions is not difficult to figure out, you should take some precautions. Since you're conducting business in most cases with a stranger, you want to avoid being scammed. Some online auction sites let users give feedback on buyers and sellers. Thanks to this capability, if someone is scammed by a buyer or receives bad merchandise from a seller, they can post a warning message for all users of the site to see. Before you buy or sell anything, make sure to search for any negative comments about the person with whom you're planning to do business. Other sites, such as www.ubid.com, have certified merchant programs in which the site will cover the product under its return policy. If you can buy an item from such a merchant, you have an extra layer of protection.
If you're buying something, make sure you understand the seller’s return policy or any other recourse you may have if an item doesn't meet your satisfaction. Particularly in cases when you're buying expensive equipment, you want to make sure you're not stuck with computers that don't work. You also want to find out what shipping charges will be before for you agree to buy the item.
If you're a seller, you also want to make sure you get paid for your merchandise. Wait until you've received payment before shipping an item. One way to make life easier for you and your buyers if the auction site allows it is to set up an online merchant account with Internet payment service PayPal, so buyers can transfer funds to you electronically. If your business is set up to take credit card payments, you can also instruct buyers to pay you that way.
While you're not guaranteed to find the ideal product you're looking for or the best buyer for your used equipment, online auction sites provide small business owners with another avenue to getting the best deals possible.
