If you are a recycler or have a use for small or large lots of various metals or items containing various metals then an online metal auction site is a good option for you to use. These sites are not as numerous as other online auctions but, with the increasing global interest in electronics recycling, they are becoming easier to find.
Bidding on a metal auction site takes specific strategy and understanding both of the fair market price of the lot you are bidding on as well as understanding the system that the website is using. Most systems will use a proxy bid where you set your maximum bid and the site will automatically place bids until your limit is reached. At that time it may notify you that you have been outbid and, provided you respond and increase your bid prior to the close of the auction, you have the opportunity to keep bidding.
Register in Advance
Typically registration, especially if you have to subscribe to actually place a bid, takes time and may take additional time for verification. If you are interested in what a metal auction site has to offer register with the site and pay all fees required in advance so you don’t end up missing the opportunity to bid on something that you really want or need.
Learn About the Seller
While the seller’s specific name or company may not be visible on the auction site, you can check to see if the seller is offering more than one lot. Typically companies or individuals that are offering multiple lots have experience with online selling and have a good reputation and willingness to work with the buyers.
Some metal auction site listing may provide ratings or a short review of the seller’s history with the auction site that can also be helpful to a buyer.
With proxy bidding options there is no need to try to get in last minute bids on a metal auction site as you can set your maximum bid with your first bid amount. However, it is still important to check the listing end time as well as when the seller will ship to ensure that you get the lot you bid on when you need it.
