Buying Antiques Online - What You Need to Know to Get Started

Before you buy a treasure online, there are a few basics that you need to know. From eBay to uBid.com to Yahoo! Auctions, their numbers are growing, and are becoming a more common venue for buyers of everything from vinyl collectibles to dining rooms. The good news is that prices on online auctions can often be quite reasonable. But, there are a few things you'll want to consider before buying.

Accuracy

Keep in mind that many online auctions simply post merchandise as described by the seller. They do not verify the accuracy of the item, that the merchandise actually exists or even guarantee that the seller will follow through with the sale.

Good Buys Online

Online auctions are a gold mine for collectible buyers. You can search for the manufacturer, colour and/or style number. Before online auctions, antique hunters would have to scour high and low for their favourite item and often end up paying a high price because the item was rare. Now with online auctions, the scarcity of collectibles is reduced when you can search, for example, a Royal Doulton, Sara figurine and see that there are currently 23 available for auction. It brings the price down of these items - great news for buyers.

Check Seller Feedback

Feedback sections are common feature on online auction. This is the place on the auction website where buyers can check the reputation of the seller. Moreover, previous buyers can post their comments on their experience with a seller. It's a good indicator as to whether the seller is an individual you would feel comfortable doing business with but, even a spotless record for a seller doesn't mean that your experience will go as smoothly.

Get Contact Info

Make sure you have the name, address and phone number for the seller so that you can follow-up by phone or mail if email isn't working as a communication vehicle. You can also use the old-fashioned phone call to help you. Give the seller a call if you have a more complex question; it may also help with your comfort level in completing a transaction once you and the seller have spoken.

Additional Charges

There are no actual fees charged to buyers at online auctions. All fees associated with an online auction are the responsibility of the seller. However, you will incur additional charges: shipping, handling, insurance, customs (if the seller is in another country), and sometimes PST and GST from Canadian sellers.

Know the Return Policy

Before you complete a transaction, read and understand the return policy. If you don't like the return policy, don't bid on it.

Payment methods

Avoid cash payments because if there is a dispute, there is no paper trail to document how much you paid. Credit card payments through PayPal, a secure third party company, are a very common payment method. Credit card payments protect both the buyer and seller if there is a dispute.

Insurance & Escrow

Don't skimp on buying insurance. It protects you up to a preset amount but there are limitations with any insurance. Escrow services are widespread and a good idea for higher ticket purchases.

Unhappy with your Purchase

There are a few avenues of recourse if you are unhappy. First, contact the seller immediately by email and/or phone to clarify the problem. If this doesn't happen or is unsuccessful, you can leave negative feedback, contact the online auction house as they will likely have a dispute resolution process or contact the police if you feel fraud is involved.