Auction liquidation marketplaces, such as Ancient and Modern Liquidation, allow buyers to bid on items that they want to purchase. Then, the person who places the highest bid within the bidding period will win the items. Typically, multiple items are available to bid on at one time, and there is typically a relatively long bidding period—such as a day or more—rather than a faster auction in which items are bid on one at a time. If you're thinking about shopping at an auction liquidation marketplace but want to be well-informed when doing so, these are some of the things you'll want to know.
They're Both Online and Offline
First of all, when you picture yourself bidding on items at an auction, you might think about doing it in person. There are auction liquidation marketplaces that you can visit in person. However, there are also online auction liquidation marketplaces. You might like going with the latter option if there aren't any in-person auction marketplaces in your area or if you're short on time and looking for the most convenient option.
You May Not Be Able to Inspect Items
In some cases, like at an in-person auction, you might be able to look over the items that are for sale before you bid on them. This is not always the case, though. If you're shopping at an online auction, then you won't have this option. If you're buying items by the pallet, then the pallets might be wrapped, so you might not be able to actually look at anything. However, typically, there is a description given so that you'll know what you're bidding on.
You Can Find Both New and Used Items
Depending on the auction liquidation marketplace that you use, you might have the option to choose between both new and used items. Some auctions are designed to sell used items from people's estates, for example; this can be a good way to find vintage jewelry, antique furniture, and all sorts of other used items. Many auctions are designed to sell new items, such as items that might have damaged packaging or that might not have sold well in a store.
You May Have to Buy Items By the Pallet
Depending on the type of auction that you're shopping at and the types of items that you're looking at, you might be required to bid on items by the pallet. This can be a good thing if you're interested in purchasing items to sell, whether online or in a brick-and-mortar store that you might own or that you might be thinking about opening.