Are Live Online Auctions Really Safe? You Bet They Are!

Are live online auctions safe places to place bids? It's a valid question given that many online auction houses such as eBay have gotten a bad rap with so many fake items being sold through them. However, we can tell you right now that online auctions which are run at a legitimate auction house are indeed 100% safe and are certainly significantly safer than bidding at eBay and other places of their ilk. Here's why:

Licensed, Professional Auctioneers

Unlike eBay and other more traditional online auction sites, live online auctions work in exactly the same way that a real auction house works. That means that the auctioneer must legally state exactly what he or she has up for bidding and any known provenance or other issues involving the item in question.
If, for example, it turns out after the sale that an item that was sold as a Louis XIV piece of furniture was actually an imitation, then you would be able to receive a full refund since the auction house is required to make full disclosure (of course, experts can be fooled as well so that your auctioneer most likely genuinely believed that the item up for sale was the real thing).

Bonded and Insured

Unlike the small time guy who sells things out of his basement on eBay, most online auction houses which offer live auctions will also carry the same kind of insurance and bonding that a traditional auction house offers. This isn't just a matter of altruism on their part, but rather a matter of state law.

Whichever state the live online auctions are actually being conducted from, will have their own set of rules to determine whether or not someone may operate an auction house in the state. And those rules generally require minimal amounts of insurance bonding in order for an auction house to operate legally.

Pre-Inspection Often Allowed

Just like when you work with a regular auction house, an online auction will often (though not always, depending on their particular situation of having visitor space available) allow people who are interested in particular pieces to come down and inspect the items for sale at an auction before the sale.
With many eBay auctions, not only will the person refuse to allow you to do this, it also isn't practical since they often just have one or two items for sale and it's simply not worth it to drive down to their home to see the items up close and in person.

Due Diligence Still Required

While it is true that most live online auctions are conducted by reputable auction houses, as with anything else in life, you need to do your due diligence before plunking down your money. Take the time to find out about the online auction house that you want to do business with. Find out how long they have been operating, double check whether their auctioneers are actually licensed and of course, check out their reputation to make sure they are known as an honest firm that has quality items for sale and not fakes.

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About the Author:
Bid live online in upcoming live auctions at http://www.icollector.com/about.aspx .
William J. Walberg is a freelance writer who writes articles in the auction and technology industries.