Pros And Cons Of Online Auctions

Pros And Cons Of Online Auctions - Infra Bazaar

Posted By:Infra Bazaar



It is now common knowledge, that now everything can be bought online, right from grocery, to clothes to medicines, accessories, gardening material, electronics, etc, as technology now has made anything and everything available through the internet and online shopping, so, the construction field is surely not something that can be left behind. 
However, there is a more interesting aspect to this field: auctions!
Experts at infrabazaar.com take you through some pros and cons of buying online construction material.

 

PROS
In today’s fast-paced world where time could be a constraint, online auctions are a boon for most buyers from the construction world, whether you’re an individual buyer or a construction company, or a bunch of builders, even.
These auctions provide a platform to the bidders/buyers to purchase equipment from the comfort zone of their homes, offices, or rather from anywhere at their convenience.
One can see a wide range of products and can have multiple options, this saves a lot of time and energy, needed in a physical auction, as they require a lot of recce, survey, etc.
Since these auctions also offer seconds, which is usually in good & operational condition, this helps the buyer save a pretty good amount rather, as opposed to blocking huge amounts on buying brand new equipment.
The good thing about products bought at auctions is, most of the time, once the purpose is served, it can be resold without incurring any huge loss.
If the buyers are unable to attend live online auctions, they also have the advantage of dropping in pre-bids. This way, if your bid clicks through, you could still avail the products without any hassle.
Return policies are clear and reasonable and one can review it thoroughly before making any purchases.
The online auctions many a time provide competitive prices and the buyer is able to contact the seller directly without any middlemen, again avoiding the layers and unwanted increased costs.
These auctions eliminate the whole ‘back and forth effort’ that one does during negotiations. Here, in online auctions the sales are quick, and most reputed online auction platforms provide equipment from well-known brands, accompanied by condition certificates of the product to be purchased.
Online auctions also provide the buyer with financial assistance based on the business requirement and need of the equipment, whereas most banks may not allow 100% financing as they are likely not to understand the value of the equipment.

 

CONS:
The images as represented on the portals can vary from the original product when received.
One may not be able to analyze fully well, as sometimes the description/data of the product might be insufficient.
If a thorough background check is not done, just like any other online transaction, even auctions can make one vulnerable to online fraudsters and hackers.
Buying equipment from auctions that are usually held in different locations or cities can burden the buyer with traveling and transportation expenses.
Sometimes technical glitches can lead to losing a bid due to several reasons like high traffic caused by multiple buyers, website lags, payment gateway errors and the likes.


All in all, one has to decide if they would prefer online auctions or physical options, both of whom have their own pros and cons. Love it or hate it, you can't ignore it!



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