How to Buy Engagement Rings at Online Auctions?

engagement-rings-pic

By DenisNata (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.

Shopping for an engagement ring is easy when you know what you are looking for. But do you know where to find it? Online auctions give you a wonderful opportunity to look for discounted jewelry that makes both your fiancé as well as your bank balance smile.

The jewelry being sold online does not include the overhead cost of sales force and premises and is therefore lower in comparison to the usual brick and mortar stores. Online auctions jewelry is less priced than even e-stores because the price here is not fixed by the seller but it is the buyer who decides the bidding price of the product.

Advantages of buying jewelry from auctions online

  • You can choose from a variety and styles of rings available on different portals.
  • It saves a lot of time in comparison to visiting brick and mortar stores.
  • All the information related to the product is available. Review the feedback ratings to check the credibility of the auctions.

How to bid for jewelry at online auctions?

  • Choose the website – Search the web for the online auction jewelry website you want to opt for.  Different websites have different bidding mechanism and policies. Go through them carefully before you decide which site is best to bid for the engagement ring you wish to buy.
  • Get familiar with the auctions
  1. Dutch auctions  – The websites fix a high price of the product and then decrease it subsequently depending on whether the bidder is willing to pay the pre-determined price or not.
  2. Reserve price auctions – A reserve price or English auction is one where the price is fixed for the goods and the customers goes for higher and higher bid in order to win the product. This is the most common type of auction in the US.  An item might not be sold if the last bid does not please the seller.
  3. No reserve auctions – The bidding value at no reserve auctions starts with as low as $1. The bidding time period is limited and the item will definitely be sold even if the final bid may not be high enough to satisfy the seller.
  4. All pay auctions – When it comes to all pay auctions every bidder has to pay the bidding price irrespective of the fact whether he has won the auction or not.
  • Different types of bidding
  1. Unique bidding – The buyer has to choose a unique bidding value for the product he chooses to buy.  No other bidder can place the bid for the same amount otherwise both bids are considered non-unique. One who places the most unique bid gets the product.
  2. Dynamic or auto-bidding – The maximum amount a buyer is willing to pay for the product is fixed.  If some other buyer places a higher bid in comparison, the bid value is raised to a higher amount pre-fixed automatically. The higher bid value will be reflected to the bidder. The bidding will stop if the defined highest amount is reached.  

While picking the engagement ring…

  • Check whether the jewelry you are buying is certified or not. The specifications like cut, carat, weight and metal are listed in product detailing. Make sure you go through them before placing your bid.
  • Go through the return policies thoroughly.  Though most online purchases come with easy return policies, the case with online auctions might be different.
  • Make sure there are no hidden shipping and handling charges.  The web portal might have a minimum order amount or number of items it ships for free. Calculate all the costs before you start the bidding for the ring.

Online Shopping Factors

By Liquidation Channel (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.

Always remember

  • Don’t get carried away with the thrill of bidding at online auctions. Remember that you are here to save money and not to pay more for the engagement ring.
  • Match the specifications and details with the product displayed carefully. It may be possible that some details do not match the product description.
  • Beware of the scams. There might be incidents wherein the item does not get delivered.
Beware from Online Auctions Sites Scams

By Liquidation Channel (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.

  • Check the website social media accounts for customer reviews and feedbacks.
  • Some website might use unfair means and actions to increase the value of the bid. It will be a good idea to keep an eye on how the bidding of products is conducted before you get involved in the process yourself.

Keeping in mind these few simple rules, you can bag affordable jewelry from auctions online to turn your life events more special and memorable!


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