Ways Online Auctions Can Prevent Sniping

Ways online auctions can prevent sniping

What are the ways that can help you prevent auction sniping in online auctions?

  1. Use the terms and conditions
  2. Candle auctions
  3. Overtime bidding
  4. Reserve prices

 

There’s nothing quite like seeing an auction in the Philippines go smoothly. For sellers, they want to sell their items at a fairly high price. For most buyers, however, all they want is to get items at the cheapest price possible—sometimes even resorting to auction sniping.

When it comes to online auctions, sniping can be a blessing and a curse. It’s great for buyers particularly for those bargain hunters that want to get everything at the lowest possible price.

The problem is that auction sniping can be done in almost every auction—be it manual or automated. Sniping often results in items being bought at a radically lower price—making it a huge problem for many internet auctions.

That being said, there are ways to prevent it from happening—and if you want your auction to be as fair as possible, here are a few ways in which you can prevent auction sniping from happening.

 

Use the Terms and Conditions

Use the terms and conditions

The most obvious way to discourage and outright prevent auction sniping from happening is to state within the terms and conditions that sniping or any other forms of last-minute bidding is not acceptable. You can add additional statements such as “all bidders suspected of being snipers will be blocked” and such.

This will then give you the authority to remove any bids done in the last minute. So, you won’t have to worry about any kind of auction sniping anymore!

 

Candle Auctions

One of the older forms of auctioning has recently climbed up in popularity over the years—particularly when it comes to internet auctions.

These kinds of auctions work like this. At the beginning of an auction, a candle is lit. When that candle’s light sniffs out, that signals the end of the auction.

This can effectively prevent auction sniping because participants of online auctions don’t know when the candle will lose its flame—meaning they won’t know when the last minute to bid is.

Aside from that, it also encourages bidders to make serious bids right from the start of the auction—creating a more competitive and lively bidding session.

Nowadays, you can still go with the traditional candle auction, but there are some modern-day variations of it. Your computer can select a random number for the time of the auction. Again, since snipers have no idea when the auction ends, it’s practically impossible for them to enter a bid at the last moment.

 

Overtime Bidding

Overtime Bidding

The main problem with auction snipping is the fact that it’s done at the last minute. When there are literally moments left in an auction, other bidders will have a harder time deciding whether they’ll bid more—leading to hesitation, and ultimately, an auction snipe.

It’s all about the time. However, if you extend your auction every time a bid is placed in order for bidders to react properly, the strategy of snipers is effectively nulled.

This strategy is great for creating a fair ground between bidders. In fact, overtime biddings can lead to fierce bidding wars for a sought-after item. Often this will result in the final price going far beyond what the seller expected!

That being said, this will only work if the time extension is indefinite. If it’s not, then auction snippers will still have a way to make the bids at the very final moment.

 

Reserve Prices

A risky yet, totally acceptable strategy makes use of reserve prices. The reserve price is known as the minimum amount that a seller is willing to accept as the winning bid for their auction. Think of it as a safety net as it will prevent their items from being sold at an extremely low price.

This can greatly discourage auction snipers—particularly those who are known as bargain auction hunters. But another downside to reserve prices is that it can also discourage general bidders from bidding—especially if the reserve price is too high.

If you plan on using reserve prices, it’s important that you choose a price that is acceptable for general bidders and discouraging for snipers. Though it’s not exactly easy to measure it—finding that sweet spot will make this strategy more effective.

 

Key Takeaway

Many people would consider auction sniping as a form of cheating in the auction world. In online auctions in the Philippines—where there’s no physical way to keep track of the bids, auction snipers are very prominent and out of control. They need to be toned down because when it comes down to it, the best kinds of auctions are those where every bidder is on an equal playing field with one another.

Dissecting the Bidding Process

Dissecting the Bidding Process

What are the things you need to know about the bidding process?

  1. What is an Auction?
  2. What is Bidding?
  3. Preview
  4. Registration
  5. Auction and Bidding
  6. Tips and Tricks

 

The bidding process is the most important part of an auction. In the Philippines auction market can buy and sell cars, furniture, and gadgets for a lower market price. To successfully participate in an auction, it’s wise to research beforehand and be prepared for any possible outcome.

Be careful not to shoot a maximum bid from the start. Participating in an auction is a modern way to liquidate assets and quickly sell collectibles, furniture, car parts, and miscellaneous items. In other countries, storage can also be auctioned off. Look into the bidding process by reading more below!

 

 

What is an Auction?

What is an auction

An auction is a method of buying goods and services by bidding. Bidders compete against each other for the highest bid. An item is put on for sale and auctioneers start with the lowest possible price to entice bidders to place their best bid.

The price of the item increases each time a higher bid is placed. If there are no higher offers, the item is sold to the highest bidder. Auctions are not only used for collectibles and rare items, but it’s also useful for investment banking.

Auctions originated in ancient Greece where women were auctioned off for marriage. At the time, women who get married without being auctioned off is considered to be illegal. Early auctions in the United States were used to sell produce, estates and slaves.

High ranking American soldiers also used to sell their plundered goods in auctions. Auctions in the Great Depression helped individuals and businesses liquidate and sell their assets quickly. The word auction comes from the word Latin augere which means to “increase” or “augment”.

In England during the 17th and 18th century. Candlelight was heavily utilized in auctions to signal when the auction was over. It was used to keep people from knowing the end of the auction and to prevent any last minute bids. It was believed when the fire on the wick would flare up, it was the time to say the final winning bid.

The first auction house was founded in 1674 in Stockholm Auction House in Sweden.  On the other hand, the second largest auction house in London is Sotheby which was founded in 1744. The largest auction house is also in London, founded in 1766 by James Christie.

 

 

What is Bidding?

Bidding is the act of offering a competitive price for a commodity. A commodity can be a property, vehicle, and more. The offering price is called a bid.

The bid is the highest price payable for a commodity at a certain time. Bidding is used to create competition to increase demand in the commodity. The bid is the price for the stock.

“The Ask” represents the price a seller is willing to accept for the trade. It’s an offer of a specific amount of money for goods and services. Bidding is also used for the acquisition of a company.

 

 

Preview

Preview

Before an auction begins, the items for sale are to be previewed to potential bidders. The preview shows off the condition of the item. It’s always a good idea to attend a preview prior to bidding even if pictures are viewed.

 

 

Registration

Once viewing of items is finished, it’s time for the registration of the auctioneer. It requires buyer details such as phone number, address, and identification. Each registered bidder is then given a bidder card that’s used for identifying the participants.

 

 

Auction and Bidding

Auction and Bidding

The start of the auction begins with the bell. The auctioneer gives a brief description for each item and opens the bid with an opening price. Sometimes an item already has a minimum price that’s set by the seller.

Bidders begin to outbid each other for the item and use their bidding cards to call out their bids. The auction ends when there are no more subsequent bids after the highest.

 

 

Tips and Tricks

Attend a preview prior to the auction. It helps buyers to make sure that the items they’re getting are accurate to the photos and description. Auctions can bring out the competitive side in a person, it’s best to set a limit and stick with it to avoid overspending.

Naturally, inspecting the terms of payment. Some auctions require a refundable deposit. Lastly, check the delivery options and pick up options. Some auctions charge fees for storage and pickup.

 

 

Key Takeaway

Now that the bidding process is dissected, preparations for an auction in the Philippines locale should be easier. Prepare to explore the buy and sell of cars, furniture, and gadgets through live or online auctions. Compete with others for the highest bid to take home the item.

Remember to attend a preview to scope out the items to be purchased. Take note of the registration time and bring all the requirements. Wait for the bell that signals the beginning of the auction.

Set a personal limit and research if the auction accepts checks, credit, or cash. Bid wisely and carefully to get the best price for the items on sale. Bidding is not just used for commercial commodities but also for business and services.

Buy and Sell Cars Philippines: Most Valuable Car Parts

Buy and Sell Cars Philippines Most Valuable Car Parts

What are some of the most valuable used car parts?

  1. Shocks and Coil Springs
  2. Radio
  3. Wheels
  4. Engine Block
  5. Cylinder Head
  6. Suspension Parts
  7. Wire Harness
  8. Original Headlights
  9. Tail Light
  10.  Turbo Charger

 

 

Participating in an auction is a thrilling way to buy your items below the market price. You can buy and sell cars in the Philippines by going to live and online auctions. Even if your car is way past their serviceable life, there is still value in parts that can be salvaged. Here are used car parts that are still valuable in the market.

 

Shocks and Coil Springs

Shocks and Coil Springs

Shocks and coil springs are vital to any vehicle as they support the weight of your car and help stabilize the car in rough driving conditions. They expand and compress when there are dips or curves in the road. Some coil springs can also store energy and release it at a later time. Coil springs can reach up to PHP 30,000 depending on the model.

 

Radio

A good quality car radio can still sell fairly well in the buy and sell market. It’s a good option to buy second hand if you can’t afford a brand new radio. Brand new radios can cost around PHP 20,000 depending on the supplier.

 

 

Wheels

Wheels

Well-maintained wheels can bring in profits for about PHP 15,000 per wheel. A car enthusiast can find great deals on chrome and alloy rims. The center bore of the wheel allows the wheel to fit in the axle. Wheels are made with different methods. Casting uses molten metal in the mold. Flow forming uses a stretching method in which metal is poured into the mold while heat and pressure shape, stretch and form the wheel. Forging is a popular method of making a wheel by using aluminum and aluminum alloy. The billet is then forged into shape.

 

 

Engine Block

The engine block is the heaviest part of the engine. The engine block houses the cylinders for the pistons. It’s either made of cast iron or aluminum alloy. One engine block can cost up to PHP 30,000 and above depending on the age, condition, and model.

 

 

Cylinder Head

Cylinder Head

The cylinder head houses the intake and exhaust valves. The passages of the cylinder head allow air and fuel to flow inside while simultaneously exhausting gas out. It also channels the coolant to cool down the engine block. Most cylinder heads are made out of cast iron. Aluminum is used for race and premium cars. There are three types of cylinder heads, flathead, overhead valve, and an overhead camshaft. The price will set you back up to PHP 35,000 based on the model and condition.

 

Suspension Parts

The suspension system is a part of the chassis which are located at the bottom of the body of the car. The frame is a structural loading component that supports the engine and the body. The suspension system supports the weight, absorbs shock and helps maintain tire contact. Ensure that the components of your suspension parts are functional and are in good condition.

 

Wire Harness

Wire Harness

The wire harness connects devices and delivers the electricity and signals to the car. It is a set of organized wires, connectors, and terminals that transmit energy and information in the vehicle. The wire harness of the automobile is considered the “veins” of the car.

 

Original Headlights

Headlamps or headlights are lamps that are attached to the front of the vehicle. New headlight technology is already emerging in the market. The headlight housing holds the bulb used for the headlight. A car can have a reflector type headlight or projector type headlight.

There are many variables of bulbs and new functions. Halogens are the simplest but produce too much heat. Xenon bulbs provide better light and color than halogen lights. LED bulbs are still relatively new but draw very little power while still producing enough light. Headlights can be as cheap as PHP 400 and as expensive as PHP 2,500.

 

 

Tail Lights

Tail Light

Tail lights are responsible for providing safety in road traffic, especially at nighttime. Rear lights include tail lights, brake lights, turn signals, reversing lights, and rear fog lights. Brand new tail lights can cost up to PHP 6,000.

 

Turbo Charger

Turbochargers can increase the car’s horsepower. It compresses the air flowing in the engine cylinder. More air means more fuel. Mechanical power is increased and the efficiency of the combustion process improves, all with the same size engine. This leads to better fuel efficiency and better weight.

 

 

Key Takeaway

Great deals can be found in an online auction to buy and sell cars. The Philippines is a catalog of high-quality second-hand parts with great prices. The internal parts of the body of a car are in high demand. The buying and selling prices of each part are all dependent on the condition, model and location you source it from. Be sure to research market prices to make a proper decision in choosing the best car part for you.

 

Films with the Best Auction Scenes

Films with the Best Auction Scenes

What are the best auction films?

  1. Groundhog Day
  2. Batman and Robin
  3. Confessions of a Shopaholic
  4. The Addams Family

 

If you’re participating in either online auctions in the Philippines or actual auction events, it is normal to find yourself overwhelmed with the buy and sell of cars or furniture.  It is not surprise that this country doesn’t miss out on the fun when it comes to auctions. Get inspired by these fun and memorable auction scenes from popular films in pop culture.

 

Groundhog Day

Groundhog Day
Image courtesy of Columbia Pictures

 

Groundhog Day asks a question about immortality. If given the chance to live forever, how can a person change? Bill Murray plays Phil Connors a reporter who’s tasked to report about the events in Punxsutawney, Pennsylvania.

Along with his producer Rita Hanson and Larry, they collaborate to film the events of the small town’s Groundhog Day. Phil is then stuck in a time loop where at first he enjoys the small moments he can repeat over and over until he finally convinces himself to break the time loop by breaking his routine.

This film features a scene where Phil gets auctioned off as an eligible bachelor. The ladies really take it up a notch by aggressively bidding on Phil. This movie is one of the most timeless films that Bill Murray ever acted in. The balance of the comedy and the message makes it a favorite amongst many fans. Groundhog Day is also enjoyed by many Buddhists with “Groundhog Day” being directly related to spiritual transcendence.

 

Batman and Robin

Batman and Robin
Image courtesy of Warner Bros.

 

One of the films based on the Dark Knight, Batman may be one of the less favorite incarnations of the dark brooding hero but it’s undeniable that the use of props, effects, and makeup is one of the eye-catching versions, a great departure from dark under saturated colors that Batman is known for. The film starts off one year after the defeat of Arkham Asylum locals and the bane of Gotham’s peace and harmony, the Riddler, and Two-Face.

The dynamic duo of Batman and Robin fail to stop Mr. Freeze from stealing some diamonds. Mr. Freeze is formerly a doctor developing a cure for Macgregor’s Syndrome for his wife Nora.

In another part of Wayne Enterprises, botanist Dr. Pamela Isley along with Dr. Jason Woodrue is experimenting on the venom drug. One thing leads to another and Dr. Isley is transformed into the seductive villainess, Poison Ivy. This quirky film features a hilarious auction scene with Batman, Robin and Poison Ivy.

 

Confessions of a Shopaholic

Confessions of a Shopaholic
Image courtesy of Touchstone Pictures

 

Isla Fisher stars in this romantic comedy as Rebecca Bloomwood, a shopping addict. She works as a journalist and dreams to work in an elite fashion magazine. Rebecca struggles with debt and her inherent shopping addiction which begins the premise of the film.

On her way to an interview, she decides to buy a green scarf but her credit card is ultimate declined. Her impulsive need to purchase the green scarf has her running to a hotdog stand to get change. Her life starts moving in a different direction once a kind Luke Brandon gives her enough money to get the scarf for herself.

Unknown to her at the moment, Luke is the editor of the magazine, Successful Saving, the interview which she was on her way to. Feeling defeated she leaves and writes letters to Successful Saving and the fashion magazine Alette.

However, she sends the wrong letters to the wrong magazines. However, Luke hires her, impressed with the letter that she wrote for Alette. Elated, instead of finishing her column assignment, Rebecca purchases a cashmere coat from a clothing sale.

Upon inspecting the coat, she realizes it’s not real cashmere. This gives her an idea for a new column and submits it to Luke. Afraid to use her real name for the column, Luke suggests the alias “The Girl in The Green Scarf” which brings instant success.

The green scarf for Rebecca is an important symbol. It truly drives the story. Looking deeper, it’s not only a story about money management, but also debt and taking responsibility. Towards the end, Rebecca auctions her famous green scarf to pay her debts. A lot of people can take lessons from Rebecca. She’s a good writer, a caring person, and ultimately overcame her addiction.

 

The Addams Family

The Addams Family
Image courtesy of Metro Goldwyn Mayer

 

The Addams Family is a classic film that’s about a family that doesn’t fit a mold. Contrary to most comedies and romance films, the Addams family has a loving relationship with each other. Morticia and Gomez are in a passionate loving, healthy relationship that is rare for film media at that time.

The Addams Family film of 1991, is a fun family film filled with darkness and macabre. Each scene is decorated with muted tones and Gothic props. A particular auction scene stands out when a jewel-encrusted Chinese finger trap is up for bids. Morticia and Gomez begin to outbid each other with much gusto.

 

Key Takeaway

Each film featured shows a similar process to the buy and sell cars or any other item, really. The community of online auction in the Philippines  is filled with many items for bidding. Take notes from these films above for a great auction and bidding experience.

Auction Philippines: Bidding Techniques

Auction Philippines Bidding Techniques

What are some bidding techniques to apply at auctions in the Philippines?

  • Budget limit of bidders
  • Know the number of bidders
  • Be sensitive to the body language of others
  • Don’t Bid at Minimum Auction Price
  • Sniping
  • Auction Squatting

 

The environment of an auction room is so much more than just people waiting to place their bids and win their desired item. Underneath the chaotic milieu of auctions in the Philippines, lies a social setting where people tune themselves in a certain manner to win.

If you can read your environment, then you have a greater chance of acquiring all your auctions. Auction houses are not like car buy and sell stores where you simply focus on the item. Here are a few things you need to take note of when you enter an auction house!

 

Budget limit of bidders

Budget Limit of Bidders

You can know the limit of other bidders by simply listen to those who talk about their bidding strategies with their friends. But for experienced bidders, you’ll have to pay close attention to their bidding patterns and when they tend to fold or how far they would go close a bid. With knowledge or an idea of the limits of your competitors, you can identify who will be the bidders you would want to stay away from or those you can compete with. Knowing your contender is a useful strategy.

Know the number of bidders

Take the time to walk around the auction room and take note of the people around. Try to listen in on some conversation to know who are serious or casual bidders. This allows you to gain some idea of who you’ll be up against and know the size or intensity of the competition.

 

Be sensitive to the body language of others

Be sensitive to the body language of others

This one may take some practice. What you really need to know about observing other people’s body language is that everyone has their own behavioral patterns. Seasoned bidders will be difficult to read as they tend to show little to no emotion. Recognizing the patterns of their body language will tell you if they’re close to their limit, if they’ve gone too far, or if they still have some allowance to challenge.

Some bidders may bluff just to get rid of other competitors. But bluffing is a bit of a last resort move. Bidders who usually bluff may have past their limit. Knowing when a bidder bluffs may take require some experience. But once you know that someone has bluffed, this may be your chance to step in with even just a penny to snatch the win.

 

Don’t Bid at Minimum Auction Price

Bidding at minimum price won’t be the best strategy if you want to win. This will make the whole process slow and throw away your strategy of constantly increasing your amount. It will give others the impression that you are playing it safe, and they will take advantage of that.

What should you do then? Place your first bid up to how much you are really willing to spend for the item. Then you can set the pace for the bidding of that certain item. If someone else bids up to half the price you set, the auction system will turn to you at the next bidding increment until someone else places their bid.

For example, the minimum bid amount for an item is P10 and you’re willing to pay P50 for that item, bid P50. Then if someone else bids up to an additional P25, the next bidding increment will have you first in line. You can simply bid P10 and win the auction at P35.

 

Sniping

Sniping

Auction sniping has been an age-old technique of bidding at an online auction. Basically, sniping means placing your bid at the last few seconds of the session. The technique of bid sniping requires constant monitoring of the session and strike at the last second before anyone else could respond fast enough. Sniping is a technique that only works for online auctions. In the Philippines, there are some online auction platforms that close the bid only when no one else can contest. These types of auction platforms cannot be sniped.

 

Auction Squatting

Auction squatting is the polar opposite of sniping. Instead of not showing their presence and stealing the auction at the last second, squatting involves entering an auction as early as possible and being involved by bidding at each increment up until the session ends. Auction squatters are known to have deep pockets and a large budget limit per item.

Auction squatting usually drives the price of an item to ludicrous levels. This may prevent auction sniping from occurring as the prices may reach insane amounts. Auction squatters are typically found at sessions that sell rare and unique items.

 

Key Takeaway

Winning an auction takes more than just a large budget. You need to be observant and know how to read the competition based on bidding patterns and the people you’re up against. This isn’t your typical buy and sell car store, the atmosphere is tough. Follow these techniques and with  practice, you’ll be able to master the art of bidding.

Ridiculously Priced Vehicles People Actually Bought

Ridiculously Priced Vehicles People Actually Bought

What are some of the ridiculously priced vehicles that people actually bought?

  1. 1995 McLaren F1
  2. 1957 Ferrari 250 Testa Rossa
  3. 1939 Alfa Romeo 8C 2900B Lungo Spider
  4. 1977 Pontiac Firebird Trans Am

 

You may notice some cars being sold at auctions or buy and sell cars in the Philippines over decades old, yet they are being sold for more than 6-digits. There have been many instances where cars from the 50s, 60s, or even the 90s, that are being sold for ludicrous prices. Here are some of the world’s most expensive cars sold at auctions.

 

1995 McLaren F1

1995 McLaren F1

It’s one of the classic cars that brought Formula 1 technology to the streets. At the time, it was considered the best automotive machine. No other car of its era came close to the glory of its performance.

At the heart of the F1 sits a naturally aspirated 6.1 liter 12 cylinder BMW engine that produced a whopping 627 horsepower and 480 pound feet of torque. It broke dozens of automotive records in the 90s. It has a 0-100 kilometer per hour time of 3.2 seconds and a top speed of 386 kilometers per hour. Until today, the McLaren F1 is the world’s fastest naturally aspirated car.

When the car rolled off the factory during its debut, it was sold for $815,000. How much would someone shell out for one of the best super cars of the 90s? At an auction in London, United Kingdom, someone bought a McLaren F1 for P808,002,000 or $15.6 Million. Now that says something about its collector’s status.

 

1957 Ferrari 250 Testa Rossa

One of the most iconic cars in the history of the 24 Hours of Le Mans, the 1957 Ferrari 250 Testa Rossa is a legend in the racing scene. It was known for dominating the endurance racing scene and clinching titles at the World Sports Car Championship. The 250 Testa Rossa comes in many variants there were introduced down the line, but there’s nothing like the original version.

This was Ferrari’s response to the rule changes of the World Sports Car Championship of 1958. Due to the upcoming season’s three liter engine displacement limit, Ferrari made use of a Colombo-designed 3.0 liter V12 which was used in the 250 GT series. Along with the new engine package, the 250 Testa Rossa had Giotto Bizzarrini develop the aerodynamics and Carlo Chiti who was the chief of design.

With 1958, 1960, and 1961, 24 Hour of Le Mans championships, 1958, 1959, and 1961 12 Hours of Sebring, and 1958, 1960, and 1961 World Sports Car Championships under its belt; this racing car was sold at an auction in 2011 for P848,454,000 or $16.4 million. Seems proper for a legendary car driven by the finest racing legends.

 

1939 Alfa Romeo 8C 2900B Lungo Spider

1939 Alfa Romeo 8C 2900B Lungo Spider

Built as a sports car, luxury car, and racing car, the Alfa Romeo 8C of the late 30s was one of Italy’s most beautiful and top performing vehicles of the time. This is a car on our list that has been through World War II and the Cold War. It’s amazing to know that a vehicle of such pedigree and history still exists and is being sold at auctions and buy and sell car shops.

The 8C 2900B Lungo Spider comes with a 2.9 displacement 8-cylinder twin-supercharged engine producing 180 horsepower which reached speeds of 230 kilometers per hour. Despite its huge appearance, the 8C 2900B only weighs 1,250 kilograms. It was a car that competed in Le Mans and were driven by legendary drivers such as Giuseppe Farina and Francesco Severi.

A true classic, there are only seven of these vehicles in the world; making it extremely rare. With some serious heritage under its name and some of the best mechanical technologies of the time, a collector bought his own at an auction in 2016 for P1.024 billion or $19.8 million.

 

1977 Pontiac Firebird Trans Am

If a vehicle has some link with Hollywood, celebrities, or an iconic driver, you can expect nothing less than a heavy price tag. The Pontiac Firebird starred in multiple films and became an instant hit to the people. Most notable firms that featured this car was Knight Rider and Smokey and the Bandit.

The 1977 Firebird Trans Am has received a major face lift compared to the previous model and came with a 6.6 liter V8 engine that produced 200 horsepower. It seems underwhelming for such a monstrous engine, but it’s more of style over performance. Film fans with the money for a classic Firebird would definitely get one if their budget would permit.

These cars are one of the vehicles in our list that can be more regularly seen at auctions and buy and sell car shops in the Philippines. How much are these cars typically sold for? P28,457,000 or $550,000. For a car with celebrity status,  guess the price is just right.

 

Key Takeaway

Buy and sell car shops and auction houses all over the world are known to sell a variety of classic cars. Many of which offer a collection of vintage racing cars. Those who have the money to spend for them and grew up dreaming of driving the world’s fastest machines, you would typically turn to auction houses. These cars have garnered such prices due to their heritage or pop influence.

How to Determine Whether an Item is of “Collectible” Status

How to Determine Whether an Item is of Collectible Status

What should you look at to determine whether an item is a collectible?

  1. Quality
  2. Rarity
  3. Condition
  4. Age

 

Ever wondered how some items become collectible? You may have stumbled upon a rare item at an auction in the Philippines and wondered why it sells for such a steep price. It may seem like nothing special but what you may have come across was a collectible item.

These are items that are highly sought after by various collectors and rare item seekers. Many of these items fall under certain niches and fan groups that hobbyists follow. Unbeknownst to you, you might actually own a collectible item without even knowing it.

There are a variety of factors that could affect the status of an item which makes them a collectible. Here are some factors that could determine whether an item is a collectible or not.

 

Quality

Quality

Quality is a property that is often confused with the condition or state of an item. The quality of an item will depend on how well it was made and the materials that were used to make a certain item. It is a fact that items that were produced years or ages ago possess high levels of quality due to the skillful craftsmanship involved with making an item.

Today, many items such as furniture are no longer hand-made. Most have stenciled accents instead of hand-painted ones, mass-produced products involved the use of a mechanized assembly rather than being made by hand. The shift from hand craftsmanship to machined products have changed the value of many classic items from decorative objects to vehicles.

The quality of an item will be an influential driving force in determining the status of an item. Some auctions in the Philippines and online auction platforms can help you determine the authenticity of your item whether it is of expert craftsmanship or if they were poorly made.

 

Rarity

One of the most important factors in determining the value of a collectible is its rarity. Number pieces or limited-edition items are considered to be rare pieces, thus garnering a high price even in secondhand markets. Many limited models that instantly become classics are usually watches, jewelry, bespoke furniture, or special edition vehicles.

Generally, if there is an abundance in the availability of a certain item, buyers and collectors won’t pay as much to acquire them and will not consider them to be collectibles. However, there are certain cases where common items from the past suddenly become collector’s items. It may sound ridiculous but these items will usually garner a steep price compared to how much they were once sold. This often happens when a common item that is hardly seen today suddenly receives a huge following.

Examples are the Toyota AE86 or a Pikachu Pokémon Trading Card. These were once common items during the time of their production. But due to the sudden rise in popularity because of a television series or a movie, they have received collectible status.

 

Condition

Condition

This quality refers to the present state of the object; how well it has kept its quality over time. How well an item has survived the passing of time will also determine that status of an item. Even if research states that your particular item is considered a collectible, no one would buy one in poor condition.

An item in excellent condition means that it has aged well against wear, rust, color fading, corrosion, or other damages that could affect the overall condition of the item. An item in poor condition means that its quality has been compromised. Restoring such items could be costly as it may require a specialist to bring it back to mint condition.

If the previous owner of the item has kept in well-taken care of by keeping it in its original box, or if the tags of the packaging are still intact, then you know you have yourself a keeper.

 

Age

Age

In most cases, the older an item is, the more valuable it may be. This is often the case with jewelry, furniture, and some artifacts. Why is this the case? Items over a century old or so have become limited in number due to its counterparts getting lost or destroyed over the course of history. Many antique items are highly collectible due to a number of factors aside from their age. Rarity, condition, and quality will affect the value of an age-old item.

 

Key Takeaway

Online auctions and other specialty stores may hold some of the world’s rarest items. It may be a rare occasion to stumble into one, but auctions are the best places to find collectible items. If you happen to own something of collector’s status, applying what was discussed could help you determine its overall value. When looking for a collectible, keep these things in mind in order to fully judge the item’s state.

Buy and Sell Car Philippines: Luxury Vehicles that Sell for Cheap

Buy and Sell Car Philippines - Luxury Vehicles that Sell for Cheap

What luxury vehicles sell for cheap these days?

  1. 2010 Honda Accord
  2. 1997 Mercedes-Benz E-Class
  3. 1990 Lexus LS400
  4. 2007 Porsche Cayman
  5. 1999 Audi A4

 

Ever dreamed of owning your own luxury vehicle? By today’s standards, many modern luxury vehicles cost an arm and a leg. But that doesn’t mean it’s totally impossible to experience the comfort and amazing features these types of cars have.

Buy and sell Philippine car shops and online auctions offer the best prices for some classic luxury cars. Cars from the late 90s to the 2000s, there’s a budget luxury car waiting for you to own. Here’s our list of the most affordable luxury cars being sold at buy and sells.

 

2010 Honda Accord

2010 Honda Accord

A car is known for its impeccable reliability and outstanding comfort features. You can trust that the Accord is equipped with all of these and more. The 2010 Honda Accord is one of the best Japanese luxury vehicles that are sold for a song at buy and sell car auctions.

This mid-sized car features good overall performance, an upscale interior, and a roomy cabin. The interior is simple and stylish. The ride comfort is one of its best features. The chassis and shocks do a great job of absorbing road bumps making every drive silky smooth.

You can find a bunch of 2010 Honda Accords for sale at auctions and Philippine buy and sell car shops for around P200,000 to P350,000. For a car that used to cost around a million and a half, and the great features this car is equipped with, the second-hand market price range is a steal.

 

1997 Mercedes-Benz E-Class

Mercedes-Benz has always been known for selling one of the best executive class cars in the world. For many, it would be a dream to own a car with the silver arrow badge. No matter the generation or model, Mercedes-Benz’s cars will always look timeless. Today, some classic Mercedes-Benz cars being sold in the second-hand market comes way cheaper than many would expect.

Regarded as a Mercedes classic, the 1997 Mercedes-Benz E-class is an executive automotive icon across the globe. Owning one is a statement of class. You’ll be surprised to find out that you can get your own E-class for around P190,000 to P250,000. If you’re looking for a great luxury vehicle and you stumble upon an E-class for the mentioned price range, don’t hesitate to get it.

 

1990 Lexus LS400

1990 Lexus LS400
Image from www.carthrottle.com

This may be the oldest car on our list but it’s definitely one of the greatest cars to come out of Toyota’s production line. The Lexus LS400 is a full-sized luxury sedan that was way ahead of its time. The LS400 served as the flagship car for Lexus; it rivaled BMW’s 7 series and Mercedes’ S-class. Many of the 1990 LS400’s features can even match the qualities of modern luxury vehicles. The LS400 will always be regarded as a classic car.

Today, a 1990 LS400 can be bought for around P300,000 to P350,000. Many vehicles of its kind are being sold at good to mint condition. This would be the perfect car for you if you’re looking for a classic Japanese luxury sedan that can keep up with the modern vehicles of today. Its performance and features will surely impress you.

 

2007 Porsche Cayman

For those looking to find the perfect balance between luxury and sports, a 2007 Porsche Cayman is the car for you. Being sold at auctions for around P2,000,000, which may seem a bit steep for many, but consider the fact that it was once sold for almost thrice the price. With decent sports car performance and dozens of luxury interior features, the 2007 Porsche Cayman is one of the best vehicles to purchase if you want a lean 2-seater.

The 2007 Porsche Cayman comes with a 3.4-liter 6-cylinder engine that is positioned at the rear, producing 245 horsepower and 201 foot-pounds of torque at 4600 rpm. Inside, you’ll find yourself sitting on a luxurious sport car-like seats and surrounded by a lush interior. The 2007 Porsche Cayman is a great car to own if you want to zip in style.

 

1999 Audi A4

1999 Audi A4

The 1999 Audi A4 is one of the best luxury cars to buy at an auction. The Audi A4’s clean lines and modest design gives it its high-class automotive impression. One of the best German cars of its time and still regarded as one of the best vehicles in the European market; the 1999 Audi A4 is known for its reliability and elegance.

The all-wheel-drive Quattro system of the A4 makes this car safe to drive no matter the road condition. On the European market, this has got to be the smoothest vehicles to take on the road. With prices ranging from P195,000 to P250,000, owning one would be the dream for European automotive enthusiasts.

 

Key Takeaway

It’s not impossible to experience and own a luxury vehicle. You can cross out some modern vehicles on your list and turn to these classic luxury vehicles. Many of them can be found at buy and sell car stores or at auctions. The cars on this list are still very acceptable by modern standards and can even compete with today’s vehicles in terms of performance and features. You don’t have to look too hard to find one that will fit your budget.

5 Things to Remember to Make Your Items Sellable

5 Things to Remember to Make Your Items Sellable

What are the tips you need to follow in order to make your items sellable?

  1. Make your profile as descriptive as possible
  2. List down every product detail
  3. Offer several payment options
  4. Use high resolution photos
  5. Reply to inquiries as quickly as possible

 

It may be tricky to sell things at online auctions in the Philippines or in fact, at online stores in general. How do online sellers manage to successfully sell their items and eventually make a living out of it? Well, there are some tips that you could follow in order to be successful in selling your items online. Here they are:

 

Make your Profile as Descriptive as Possible

Make Your Profile as Descriptive as Possible

Selling at online auction sites or any kind of online selling platform may be tricky as there could be thousands out there selling the same products. One way to stand out is to have a decent user profile. Having a descriptive profile about yourself and the items you sell could highly convince a buyer to purchase from your list of products.

A highly descriptive user profile portrays that you are an honest seller. It also shows buyers that you are trustworthy. Just don’t give off any information that may be personal, just enough for them to confirm who you are. Buyers need to feel secure especially when transacting through the virtual world. Setting a profile picture and a brief description of yourself could be enough to confirm who you are to the public.

 

List Down Every Product Detail

A buyer who is looking for a certain product will want to know every single detail about the product they’re scouting for. This is even more emphasized with used products. Never let a buyer ask too many questions about a product you are selling. A thorough list of product details, buyers can quickly decide on choosing your product without any delays.

As a buyer, it’s natural to look through a number of the same product in order to compare which one will be the best to choose. A listing with few or lacking details compared to one with a full list, buyers are likely to choose the latter. A seller who can list down every single detail, even the issues about the things they’re selling will let buyers know that the seller is honest and will be easy to deal with if ever they make contact.

Online auctions in the Philippines will always have a “description” section about a product listing. This is probably the most important section that every buyer will base their decision on. A well described product will guide buyers and inform them about everything they need to know about their sale.

 

Offer Several Payment Options

Offer Several Payment Options

Selling items with various payment options will likely increase your chance to sell an item. It’s also good to consider that some buyers may be limited when it comes to payment options. Not everybody who shops online owns a credit card or have a PayPal account.

To increase the chances of selling your items, you could offer e-wallet payments and over-the-counter bank deposits as well. Increasing your payment method also lets buyers choose which mode of payment is most convenient for them. If you accept checks, let your buyer know that their shipment may have a slight delay as checks need to be confirmed to prevent scams and to clear the check.

 

Use High Resolution Photos

It’s essential for buyers to see exactly what you’re selling. But don’t just post one photo of your product. The more pictures you have for one product; the more views it will garner. It’s also important to take photos of from every angle.

The more attractive your photos are, the higher the chances of your product to be discovered. If you pit two products together, one with high-quality photos and another one with bad quality, despite being in the same condition, chances are that the posting with better photos will sell faster.

 

Reply to Inquiries as Quickly as Possible

Reply to Inquiries as Quickly as Possible

Every customer loves a seller who is quick to respond. This shows that you are on your toes with your products and that’s a good sign for the public. Buyers will likely give you good feedback for simply responding instantly to their queries.

This will boost the reputation of your user account which will make you more discoverable online. Many online auction sites have user reviews for sellers, being rated high with positive comments will help your products sell online as buyers won’t have to think twice about purchasing products from you.

 

Key Takeaway

There are many techniques in order for your items to sell. But these tips are guaranteed to make your products sell like pancakes. It’s really important to hold a good reputation. Gaining your buyer’s trust is incredibly difficult especially when your identity online is unknown to them.

The secret of online selling rests in great descriptions and accommodating to all your customer’s needs. And as long as you include every fine detail, make yourself known, and have great user review, then you’ll find success in selling your products online.

Advantages of Bidding at a Car Auction in the Philippines

Advantages of Bidding at a Car Auction in the Philippines

What are the advantages of bidding at a car auction in the Philippines:

  1. Snappy Turnaround
  2. Unbeatable Value
  3. Quality of Vehicles
  4. Wide Variety

 

Some may not know the advantages of buying a car at auctions in the Philippines. Most think that it’s not the best place to look if you want to acquire a vehicle. Well, that’s not the case. There are tons of reasons for you to check out car auctions for used cars for sale in the Philippines. Here is a list of advantages of bidding at a car auction:

Snappy TurnaroundSnappy Turnaround

Purchasing a vehicle from your local auto dealership doesn’t grant that you’ll take the car home the moment you pay for it. Usually, you’ll have to make a down payment and wait for the car to be delivered. This could take months or years in some cases; you won’t get your hands on your newly purchased vehicle right away. This could be a difficulty for those who badly need a vehicle immediately.

One advantage of bidding at car auctions in the Philippines is how quick the process of sale is. The turnaround time is quick as car auctions are always looking to speed up the sales of their products. You will have your car within the day of purchase. Those who frequent car auctions for used cars for sale in the Philippines usually do research prior to bidding. That way, they can easily find a car they need and skip all the contemplating. It’s truly of great convenience for anyone to get the vehicle they want right away.

 

Unbeatable Value

No one can express themselves enough when they talk about the great deals they’ve found at auctions. No other dealer on the vehicle market could rival the prices offered by car auctions. In the Philippines, many used cars in the second hand market that are personally sold by users often overprice their cars and cloak many vehicular issues.

There are claims that some deals even go as low as 30% as compared to other used cars in the second hand market. If you do enough research, you can find your own great deal in these lots. Ideally, it’s best to go for vehicles that were previously used by the government or used company fleet vehicles.

These cars are usually sold at a dime and the best thing about these kinds of cars is that they were regularly services as per government standards. Companies fleet vehicles also followed the standards of keeping their cars in top shape. Other great deals come from repossessed cars. If you’re thinking that repossessed car’s being sold at auctions could be a gamble in terms of their quality, then you should know that cars sold at auctions are always inspected before being sold to people.

Quality of Vehicles

Quality of Vehicles

Vehicles sold at car auctions may give you the impression that they’re being sold because owners want to discard them for being a “lemon”. Well, cars with issues usually never make it to the buyers as car entries go through meticulous quality inspection before showcasing them. This gives every buyer the peace of mind they need if they think they’re going to buy a car with sketchy background.

When a vehicle at an auction rolls down to be showcased, every single detail and history about the car will be described. This gives the buyers knowledge on what exactly they’re bidding on. We can never stress out how much buyers need to research about a certain vehicle.

The reason for which is for the buyers to know what they’re going to purchase. There are certain vehicles sold with aftermarket parts, which are usually mentioned, which may repel some buyers from bidding for that car, but in most cases, these parts actually make the car better.

 

Wide Variety

Without a shadow of a doubt that cars sold at auctions have a lot of impressive selections to choose from. You could easily find classic collectors models at car auctions. Car auctions usually sell cars without bias toward a certain brand or era. Sedans, coupes, SUVs, and even trucks are a common sight at car auctions.

Wide Variety

You will have no difficulty looking for a perfect commercial car or sports car that fits your needs. The only thing that may be difficult for detailed buyers is the fact that they may find the perfect car they want but not in the color they desire or trim level they’re looking for. Other standards you may have to reconfigure in your mind is the possibility of not getting the vehicle you want at the mileage you wish for.

 

Key Takeaway

There are a lot of advantages of buying a car at auctions. The standards might even fare better than purchasing a vehicle from your local dealership. You can even get the right car for a much better price. Taking note of these advantages may convince you to visit your local auction houses or take a look at online auctions. Just keep in mind to do some extensive research for the cars on your list.