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4 Tips For Bidding At Online Stamp Auctions

Participating In Online Stamp Auctions

The internet has changed the way we transact in the philatelic industry. For starters, the internet has made it possible to conduct many philatelic transactions without the need for middlemen or brokers. Many collectors are now able to buy and sell stamps directly from each other via the internet. It all comes down to trust between the two parties. Secondly, the internet has made it easier to access all kinds of philatelic collectibles from the comfort of your home. You can now order postage stamps from an online stamp store in Moscow while sitting on your sofa in New York. The order will be delivered in a few days and you will end up saving a lot of time and money due to the convenience of e-commerce. The internet has also touched and changed another dominant part of the philatelic business. This is the auction method of buying postage stamps and other philatelic collectibles. The internet has now made it possible for collectors and other interested buyers to participate in a livephilatelic auction from any corner of the globe without having to travel to the auction gallery. The traditional floor bidding method is being overtaken by online bidding in a slow but sure manner. Online bidding offers many advantages of traditional floor bidding including:

·       It saves time and money

·       It’s dynamic

·       Real-time bidding

·       No time or geographical limitations

·       Multiple participation in multiple auctions

As you can see, the internet rarely disappoints when it comes to convenience and cost-effectiveness. But you still have to be careful when participating in a live online auction to ensure that you win the best lots. Here are a few tips that will help you become a master of online stamp bidding.

Choose Bidding Lots Carefully

You should start by choosing the lots you want to bid on very carefully. Many stamp auctioneers who provide online bidding options like Rasdale Stamp Company post detailed catalogs on their websites. These online catalogs feature colored photos and many details regarding every lot in the auction. Read the catalog carefully and choose your lots wisely.  Rasdale can also be seen at http://www.iformative.com/product/auction-house-p1367496.html.

Place Competitive Pre-Auction Bids

As soon as the public auction goes live, interested buyers start posting pre-auction bids. These are the ones that ultimately lead up to the live public auction in the final days of the sale. You should place competitive bids and monitor them closely. Try to outdo other pre-auction bids to stay ahead of the game.

Monitor The Live Auction Closely

The climax of any public live stamp sale is the final two or three days when the real live auction occurs. This is when all serious buyers place competitive bids in real-time on the floor of the house or via the internet. To ensure that you are not left behind, make sure you have a reliable internet connection.

Place Live Online Bids Wisely

The bids that determine the auction “winners” are placed during the public auction at the end of the live sale. This is when you need to place your bids wisely and competitively to ensure that you are not left behind.

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