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Is the Postal Auction worth it? What to Buy?

 

Is the Postal Auction worth it? What to Buy?

Postal auctions are sales that the company makes of scrap, which are items that were not delivered to the original recipients and were not returned to the senders. There’s a lot in these orders, from worthless items to electronics to high-value jewelry.

Auctions sell all of these items at below market value, usually. By digging through and researching well, you can find excellent options to resell or buy for yourself.

There are also Post Office vehicle auctions, which can also give you the opportunity to buy a motorcycle, car, or even a van, at a more affordable price.

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Well, anyway, is the Postal Auction really worth it?

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Is the Postal Auction worth it?

It sounds very basic, but buying things at auction has a lot of details to take into account. Participating in an auction without knowledge will lead to repetitive errors, the loss of the item sought, or the payment of a much higher amount than the item is actually worth.

There are already people who are experts at participating in auctions, and others who already know exactly what they want and need. Others already know the real values ​​of the items being sold, so they arrive at the auction with a great idea of ​​the maximum amount to pay.

All the smartest ones register in the auctions and visit the items in person to check their status. You should go with a checklist, knowing exactly which batches are the items that really interest you. And leaving the Post Office unit knowing exactly how the items you want to buy are doing.

But is that all you need to make the Post Office auction worthwhile?

Not.

The tips below will help you avoid the main pitfalls that auctions can put you in.

Be careful when bidding at the Post Office auction

I know an auction is all about winning, but at what cost? One of the most common mistakes that someone bidding at an auction makes is bidding higher than the actual value of the product.

For example, you are bidding on a lot that has items that you think cost $1000. But due to the frenzy of the last few minutes of the auction, someone outbids his bid, leaving the price of the lot at R$1300.

So, as the feeling of winning is stronger than your rationality at that precise moment, you end up bidding R$1400. The auction has come to an end and you have won the product. But you spent R$400 more than you expected. This is a bittersweet victory and what theory calls a “victor’s curse”.

The trick here is knowing what the maximum amount of money you want to pay for the auctioned lot is. You do this in two ways:

1. Bid the fair price for the item

2. Bid by doing research

The first option is quite simple; You just need to follow your instincts. However, I’m not going to recommend this path because you might fall into the winner’s curse. Doing the research takes time, but you will get better results.

Let’s say you’re bidding on a scrap lot that has a few cameras. So, you could easily go to price comparison sites to find out the values ​​of a used item and a new one. This way you can get an idea of ​​your maximum bid. Who knows, you might also notice that it might be a lot smaller than you expected.

More precisely, you will understand the total value of the lot, knowing where you will have losses and where you will have gains.

Bid to win, but do it wisely. You will not like to win your beloved product at a higher cost and then regret it later.

Seek help from an auction expert

Especially if you are a company that aims to profit a lot from one or more lots of scrap for sale, a professional auction specialist can help you find the best opportunities. It will also be able to identify when a lot has damaged products, when items in a lot have worthwhile bids, when to start and when to stop bidding.

He will usually charge a commission or a percentage of the sales results. Whatever the way of work, put it to the tip of the pencil and have more than one lot in mind for when you go to the auction.

Choose the perfect time to bid at the Post Office auction

As an auctioneer, you will prefer days and times when you have the most exposure for the product you are selling. As a bidder, you would look for days and times when there is not much competition . You can apply this analogy to your strategy.

When possible, try to keep track of auctions that have the least interest. Wait until the last moment to place your bid. That way, you can take better advantage of the situation and still discourage other buyers. This strategy may or may not work, however.

This strategy has the following benefits:

High win rate: As you have to bid at the last moment, this will not give other bidders time to react and outperform you. However, you have to pay attention not to exceed your maximum acceptable bid and fall into the winner’s curse.

Precise Item Value: Waiting until the last minute allows you to analyze the “True” value of the auctioned item. If you are a newbie, you can get more accurate information about the item’s value .

Avoid the bidding war: As we know, the last few minutes of an auction can be very dynamic. That is, everyone is passionately trying to own that product. For this reason, you can avoid this bidding war by waiting until the last minute and viewing price behavior. So in this way you can make a more accurate maximum bid.

Do not participate in the auction of more than one identical product

This has happened to me twice in online auctions, and it can happen to you in the Post Office auction.

I wanted to buy a video game. I tried auctions several times but I was getting tired of not winning. That’s why I started bidding on different auctions for the same video game and guess what? I ended up with 3 of them.

Unless you are a reseller or need to buy in bulk, just be patient and wait until the auction ends. If you’ve done your homework, chances are the item will be yours.

And what items to buy at the Post Office auctions?

We recommend to purchase:

Computer parts: memories, video cards, motherboards, etc.

monitors and televisions

computer cases

Games, consoles, and video game accessories

Motorcycles, cars, and vans (when there are these auctions)

Top of the line cell phones

Sneakers and shoes.

We do not recommend buying jewelry through the Correios auction unless you are an expert in the field.

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