26 C
Lagos
Wednesday, August 12, 2020

Online vs Offline Auctions: Which is better?

- Advertisement - data-full-width-responsive="false">

Are you a fan of auctions? Have you ever been stuck between attending an online or offline auction? A lot of people face this issue, and we’ll help set your mind straight in the following by highlighting, detailing and comparison of both options.

Offline

Auctions

- Advertisement -

In regards to an offline or traditional auction, you are given a chance to examine the items put up for sale strictly. You can ask questions about them beforehand. This gives you an idea about the type of things that you will want to be in the auction. This will also give you an idea of how much the asking prices will be and how much you are willing to spend. Offline auctions allow you to make a well-informed decision.

While these auctions are a bit fun, the auctioneer calls out bids, and the invited bidders compete to see who wins the bid. This is like a social event where buyers and sellers get to know each other. This helps people with common interest network with each other.

In this type of auctions, you get the satisfaction of finding, buying and then walking away with the item you got. After you can go through the rush of winning an item, it is satisfying to get your item within minutes after you have paid for it.

  • You can view the items in person and then ask questions about it. This will clear your doubts. You can’t do this in regards to online auctions.
  • It offers an exciting and fun experience because of the social element, something you miss in an online auction.
  • You have to buy the item you bid for and this takes away the unlimited competition that you would encounter in an online auction.

Online

Online auctions are all about convenience; where items are listed on the website in a detailed catalogue. You get to click on them to find out more about the items. This form of auction is cheaper for the management team, but it limits the number of buyers who show up.

However, once the potential buyers see the items, they go ahead to bid for purchase using their financial information.

This type of auction is open to all potential buyers, not just someone who is located in an area of the auction house. Although, having a wide range of bidders during an auction can be advantageous to the seller.

  • These auctions are mainly virtual, so they are a convenience for the bidder as you don’t get to leave the comfort of your home to bid and win.
  • These auctions are advantageous to the seller because they do not have to pay a considerable amount to conduct the auction at a specific location. Sellers also have to invite others who in turn would bring in more people. This could either heat the competition or incur more charges on the items.
  • It is possible the item that is being sold or auctioned here might be more expensive compared to an offline auction. As almost everyone would have access to the sale, there are more bids to compete against yours. This also suggests that you can find something great for an affordable price.

Share your thoughts with us by using the comments section below.

- Advertisement -
- Advertisement -

Trending Now

Here’s How You Can Install Google Chrome Extensions on Microsoft Edge Chromium

Despite so many improvements, optimizations, and promises from Microsoft concerning its Edge browser, it never came close to its rivals, Google Chrome or Apple...
- Advertisement -

Startimes Subscription Prices, Packages and Channels List in 2020

StarTimes Nigeria is one of the popular cable TV providers in Nigeria. This service is a subsidiary of a Chinese based company called Startimes...

Big Brother Naija 2020: How to Vote Using MyDStv, MyGOtv App?

Big Brother Naija pepper dem has been everything hot and spicy since it started, and Big brother keeps serving us the viewers...

GB WhatsApp Pro, OG WhatsApp Pro V8.10 (GB OG Replacements) Latest Version

Good day peeps, the latest GBWhatsApp is here... and it is called the GB WhatsApp Pro Remember earlier, GB Mods the maker of GB WhatsApp...

10 Best Places to Download Bollywood Movies

Do you spend hours watching Bollywood movies as I do? Have you been in search of the perfect sites to download the...

GB WhatsApp, WhatsApp Plus and OG WhatsApp Tips and Tricks

Checkout the new GB WhatsApp Tutorial. Hello, welcome to WhatsApp Plus, OG WhatsApp and GB WhatsApp tips and tricks. For the sake of this article,...

Best Low Size PC Action Games For Your Old PC/Laptop With Low Specs

Gaming time is one our favorite time and nothing beats the ability to play high-quality games on our PCs but like some of our...

Screen to Body Ratio: 22 Smartphones With the Highest Screen to Body Ratio in 2020

Screen to body ratio on a smartphone screen recently turned into an important thing to consider when comparing smartphones. It became more important after...

Technology at the Rugby World Cup 2019

Nigeria may not be taking part in the finals of the Rugby World Cup 2019, after being eliminated by Morocco in the earlier rounds,...

MyDStv App – Manage Your DStv Account & Subscription Easily

MultiChoice has recently unveiled a wonderful, new mobile application known as the MyDStv app. This application is one that is designed to put the...

MyGOtv App – Manage Your GOtv Account & Subscription Easily

Multichoice Nigeria, the owners of DStv and GOtv has recently launched a new mobile application called MyGOtv, for its popular digital platform, GOtv. According to...
- Advertisement -

Related Posts

Tips To Find The Coupon Code You Need

With Black Friday and Cyber Monday approaching, many people are looking to buy a product they have wanted to for long. Statistics reveal that...

What Factors Determine the Price of a Juicer?

When it comes to juicers there are many different types, makes and models available and they can be purchased at all different price points. You...

How Do You Know if You Need Computer Repair?

Have you recently seen things go wrong with your computer? Like every other product, it also subjects computers to wear and tear. It will be helpful...

How to Manage Your Online Portal Password?

Online security has been a great concern for modern people. In the past, people don’t have to rely on too many variables while browsing...

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.