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
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
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.
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.