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CQout - Frequently Asked Questions - How does a 'wanted' auction work?


'Wanted' auctions can be useful in the following situations:

 1)-You are looking for a rare or hard to find item

  • Describe the item you are looking for as closely as you can, so there is no mistake in peoples' mind as to what you are looking for and to ensure that the item, when it arrives, matches your expectations.
  • Set the starting price as the most you are prepared to pay for the item. If there is more than one supplier you may get a pleasant surprise by getting it much lower than you had hoped as the vendors bid successively lower prices for your custom.
  • 2)-You want to get the best price for a common item

  • You want a common item (say a new CD ROM for your PC) and want to buy it at the lowest price possible without shopping around for days
  • Specify your item very closely, giving model numbers or technical spec.'s where possible.
  • Set your starting price at the best price you can get it in the shops or elsewhere.
  • Sit back and watch while the vendors bid successively lower prices to win your business!
  • In Wanted Auctions, carriage is always included in the price, and the price is in your home currency, so the final bid price is the price you pay, no matter how far away the item has to travel to reach you.

    Points to remember about Wanted auctions:

    • A wanted auction is not a "Wanted Ad" where you can put a very loose and general description of what you want. Then having seen what rolls in, decide if any of them take your fancy or not !!!
    • Your starting price should include a sufficient allowance for P&P.
    • The Starting Price should be a realistic high figure, not a nominal 1 !!!
    • Describe the item you want fully and accurately, If you get a bid you will be expected to buy the item. Your only ground for rejection of bid would be if it does not match your description.
    • A "Wanted" auction is just like a "normal" auction but running in reverse, so many of the same considerations and rules apply as if you were selling an item.

    How do I bid to supply a "Wanted" item?

    This is "Action" toolbar from a wanted auction

    Place a Bid
    Make an Offer
    View Description
    Ask A Question

    If you are a seller who has the exact or similar  item being sought, then you can proceed in one of two ways:

    1)- If you have exactly what he buyer wants at the price he wants it, then just place a bid to supply:
     
     
     2)-if you have the item but at a different price or a slightly different item that the buyer may want to consider, use "Make an Offer" link, you will be given the facility to describe your item and how much you want for it, effectively you will set up a Instant Buy auction for this buyer and the buyer is automatically notified by CQout of your offer. 
     

    Click here to set up a wanted auction.



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