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Step 1
The first step to saving money at any time is simple. Ask yourself "Do I really want to spend my money on this item?". In other words......THINK !
Once you decide you really want, or perhaps need, this item....look on-line or in the newspaper to get a basic idea of the items regular cost. Only then can you tell when you find a "deal". -
Step 2
Unless the item is a food item, or some other perishable good, consider purchasing a used version. Used does not equal "worn out, junk, someone else's problems" or any other cliche'. Keep in mind that the minute you purchase ANY item, it becomes used. You are in control of just how much use has been extracted from the item. If you feel it is, in fact, worn out....avoid it.
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Step 3
Now......where do you find these used items?
Newspapers, local shoppers newspapers
Used merchandise stores such as Goodwill
By far the best avenue is at a reputable
Auction Facility.
At these facilities, a vast array of items are normally available. And you only pay what is the true fair market value. Compare this value to what the items sells for new (remember the first step?). Keep in mind the items are usually AS-IS with no warranty. This isn't bad....you just need to ask to see the item operate before you bid on it. Make sure it performs what you need it to do. Most auction companies provide a time to look at the items before the auction begins. This is referred to as the "preview time". -
Step 4
Most Auction companies will collect a buyers premium fee. This is a charge (usually a percentage) per item for using the auction service to purchase the item. You will also pay sales tax just as if you went to a retail store and bought the item. You will, however, save money on the tax as well, since it is based on the lower selling price of a used item. Remember to add the buyers premium fee to the highest bid amount for a true final cost to compare to the price of new.
Watch out for "bid wars". This is normally when 2 bidders, who may have a grudge with each other, bid beyond the true value of the item, just to prevent the other bidder from buying it. I know this sounds a little bizarre, but as a professional auctioneer for 20 years....I have this happen countless times. -
Step 5
By keeping your bids to what you predetermine the value of the item to be, you will be just fine.
I have numerous clients who buy and sell items through our auctions on a normal basis. Some have become so savvy, they have replaced their "regular job" with the auction activities they participate in.
Always consider the auctions in your area for used items.
You can easily save HUNDRED$ of dollars each year.
