Buying from an Online Auction – Pros and Cons

The most apparent advantage of an online auction compared to a physical one is the convenience. There is no need to take time out of your busy routine to go and visit the auction in person. Since it is online, you can access and bid at any time.

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At online auction sites, there is no wait time to start bidding on a particular car. As soon as the listing goes online, the bidding can start. At physical auctions, cars are shown in a set order, and it can take hours before your desired car shows up for bidding.

Plus, since you are not outdoors, you don’t have to contend with the elements like you might have to at a physical auction, e.g. standing in the summer heat, avoiding rain or hail, or even getting your boots stuck in the mud.

Physical auctions can also be really crowded. The atmosphere can be loud, rude, and rowdy- and not everyone is cut out for it. Online auctions eliminate the need to contend with such crowds, and you can start making your bids in peace and calm of your preferred surroundings.

Sometimes, you can get caught up in the moment and bid far more than you bargained for at an auction. In the fast-paced and fiercely competitive atmosphere of a physical auction, it can be easy to feel rushed and pressured into making a decision that you would later come to regret.

This is why auction veterans recommend that you visit auctions a few times before you actually start bidding so to avoid becoming overwhelmed in the midst of things.

With online auctions, that type of feeling isn’t there, and you can assess your bids at a slower pace and take your time to consider each purchase so you don’t end up with buyer’s remorse.

Compared to their physical counterparts, online auctions usually charge a smaller transaction fee on successful bids. With your car already a fairly significant investment, every penny you save in other costs can count a lot.

At an online auction, you benefit from a far range of selections available than you can hope to get at their physical counterpart. Online auctions are far more accessible and cover a large geographical area. Not surprisingly, some popular auctions sites can see hundreds or even thousands of new listings every day.

They also serve as a great opportunity for you to be exposed to selections that otherwise may not be available in your location.

Because there can be so many selections at one time on an auction site, there is always a possibility that you can find the car of the exact make, model, and year you are looking for as well as acquire its ownership at a ridiculously low bid price. You can seldom find this degree of value at most physical car auctions.