Last Updated on December 30, 2020 by HodgePodgeDays
Auctions, especially online, have been around for years. Thanks to eBay, going online and bidding for an item is straightforward and accessible. Better yet, it’s cheap and affordable. So, a reverse auction might seem like a bad idea. There’s no point in trying to fix something that isn’t already broken. But, the process can transform a house into a home for lots of property owners. How does it help homeowners revolutionise their house? To find out more, take a look at the following. Here’s what you need to know.
Money
Services on reverse auctions sites are always almost cheaper. The reason for this is competition. At Shiply the couriers bid to transport people’s goods from one place to the next. Because of the setup, the companies involved can outbid their rivals by lowering their prices to secure a sale. And, because the transportation costs are already low, there is no need to impact the firm’s bottom line. Couriers are already going in the same direction and need to fill up space in the van. It’s no wonder the site reckons costs can be 75% cheaper than a normal delivery service. With more money, you can buy the items which fit the house perfectly.
Transparency
Haters like to point out that a reverse auction format can be risky. What if the company doesn’t fulfil their end of the bargain? There are incidents where this has happened, but it’s an anomaly. The reason for this is two-fold. Firstly, the buyers need to maintain their reputation for promoting the brand to customers. Businesses that take the money and run won’t last long on an auction site. Secondly, the majority of companies have feedback which lets people check the reputation of buyers and sellers.
Time
No one wants to waste valuable minutes researching and shopping around. Unfortunately, you have to if you’re going to keep the cost low and make sure the purchase is just right. Well, that is true if you don’t use a reverse auction website. With a backward lot, there is no reason to spend a night on the laptop searching for household items. Simply log-in to the site, input the search details and let the algorithm do the rest. A comparison website such as uSwitch is a prime example as it collates data from across the Web for your benefit.
Expertise
Purchasing Auctions says that they shouldn’t be used for every purchase. Don’t view this as a bad thing because it’s positive. Take a heavy item such as furniture as an example. Not only is it expensive, but it’s hard to transport to the house and can take ages. Reverse auctions cut the cost, so there’s no reason to worry about the budget. Plus, the buyers are people who are experts in their field. As a result, they not only reduce the delivery time but also get it to the address in one piece. There’s nothing worse than waiting months for a sofa for it to have a flaw.
The answer no: a reverse auction doesn’t mean you are going backwards.