The e-commerce and online auction space is a $934.2 billion industry in the U.S. alone. Online auctions are a great place to find deals, sell your stuff, buy business equipment, or even secure your next family vacation. Other auction items include real estate, vehicles, aircraft, jewels, electronics, clothing, and even NASA Shuttle/Hubble equipment. We reviewed 28 different online auction websites to determine the best options available. The site should have a good reputation and have reasonable fees for both the buyer and seller. To determine a company’s reputation, we looked at real customer reviews. Here are our top picks. Best Online Auction Websites Best Online Auction Websites Bottom Line Compare Providers Frequently Asked Questions How Do Auction Sites Make Money? What Are the Most Popular Sites? How Can You Tell If a Site Is Legit? How Are Users Protected? Methodology eBay is the best overall online auction website because it’s free for buyers, both seller and buyer have protections from fraud, and you’re not restricted to just the United States. You can buy and sell on eBay from most countries. Pros Buyers and sellers from all over the world It’s free for buyers Offers both seller's and buyer's protection Cons Seller's fees aren’t uniform across categories Final value fees can be as high as $750, depending on your category Displays third-party advertisem*nts and listings from other sellers on any eBay page—including your listing Launched in 1995, eBay is one of the oldest and largest online auction platforms, with 142 million active buyers worldwide. It’s the best overall online auction website because buyers don’t pay anything to use it unless it’s an international buyer who may have a currency conversion fee. Plus, both seller and buyer have protections in the event of fraud. Categories on eBay include: Anyone can sell on eBay, although there are restricted and prohibited categories. For example, you can’t sell lockpicking or locksmithing devices. eBay also doesn’t sell any of its own items, which means you have no competition from them as a seller. When selling on eBay, you can use photos and video to showcase your items. Seller's fees depend on your category, listing price, and final sale price. Fees include: We chose Auction.com as the best real estate online auction website because users can buy bank-owned and foreclosed homes at auction prices. Some listings have bids starting at just $1, and some properties aren’t for sale yet but are likely to head to auction. Pros Many deals close within five weeks Offers a mobile app Access photos and local market data for each property listed Cons Properties sold as-is Most listings are cash-only Some listings require the buyer to pay a buyer’s premium of 5% or $2,500, whichever is higher With 6.3 million registered buyers and $52 billion in sales to date, Auction.com is a leader in the online real estate space. It operates in all 50 states and helps buyers purchase foreclosed, short-sale, and bank-owned residential properties quickly—many deals close in a little over a month—making it the best for real estate auctions. Most vacant properties have photos of both the outside and the inside. Occupied properties don’t usually show inside photos, and instead share outside and aerial views. Each listing is sold as-is, so a buyer should perform due diligence before bidding on a property. They should also secure financing before bidding because closing can happen quickly, often in under five weeks. Earnest money must be deposited within one day of auction close, which is 5% of the sale or $2,500, whichever is higher. This isn’t an extra charge as it goes toward closing costs. This differs from the buyer’s premium, which is a fee that goes to Auction.com. Not all properties have a buyer’s premium, but there is always an earnest money deposit. You can filter the listings to avoid a property with a buyer’s premium. The best online auction website for autos is Copart because you can buy vehicles for parts or in drivable condition 100% online and have the vehicle shipped to you. Many of its listings don’t require you to have a dealer's license to purchase, which means ordinary buyers can bid on a vehicle. Pros If a listing requires you to have a business license, brokers or authorized representatives can bid for you Individuals, businesses, and dealers can buy and sell vehicles Offers both clean and salvage titles Cons Must have a membership to bid on a vehicle Fees can be high It takes effort and consistency watching auctions to know what’s a good buy There are more than 175,000 vehicles on Copart, which is an online auto auction site operating in 11 countries. It gets the nod for the best site for auto auctions because individuals, businesses, and dealers can buy and sell used, wholesale, and salvage cars, exotics, trucks, boats, ATVs, and SUVs. You can even buy and sell freightliners. Both clean and salvage titles are available on the site. Each listing provides detailed descriptions, photos, and conditions of each vehicle. There also is a calculator to determine shipping costs to your location. It’s not clear where Copart will ship, but there is a fair chance you’ll have to secure third-party shipping or pickup. Your deposit amount must be 10% of the desired bid amount if you are a Basic member. If you have a Premier membership, your deposit is just $350. Basic members have $2,000 in buying power, whereas Premier members have the buying power of up to $100,000 per day. Buyers' and sellers' fees depend on the final purchase price and cannot be viewed unless you are a member. Our research shows they start at $1 and go up to 12%. Heavy vehicle fees can be as high as 20%. There are three memberships available, and you must have a Basic or Premier package to bid: Buy and sell industrial, commercial, plant, and machinery equipment through BidSpotter, which is an online auction site dedicated solely to business equipment. Sellers are professional auctioneers, and usually have companies available to ship you your items after winning. Pros It’s free to create an account, and you only pay for your winning item Most auctioneers have rigging/removal/delivery companies they work with to get you your assets after you’ve won Some auctions allow pre-bidding so you can participate even if you’re not available live Cons To sell, you must be a qualified and licensed auctioneer or consign your items to one of their auctioneers Some auctioneers require a deposit and buyer’s premium You must register for most auctions ahead of time to view and participate BidSpotter is owned by Auction Technology Group, which had 2,300 auction houses using its technology and listed 6 million lots in fiscal year 2021. Six billion dollars worth of items sold per year makes it one of the largest online auction websites in the world. It’s the best online auction website for business equipment because it doesn’t cost anything to bid—you only pay for your winning item. The auctioneers can even set you up with a company to ship the equipment to you. Creating an account is completely free, although to sell you must have professional credentials like an auctioneer’s license. However, you can consign your items with one of BidSpotter’s Premier Auctioneers if you’re just a regular consumer. Auction types available include live webcast auctions, live online-only auctions, and timed-only auctions. At bidding close, winners will receive an invoice to pay the auctioneer directly, rather than BidSpotter. It’s free to bid, although an auctioneer may require a buyer’s premium or a deposit in addition to sales tax. Categories of equipment available include: Sotheby’s is one of the oldest and largest auction houses for luxury and collector items. In addition to having high-quality standards, it offers in-house financing with its financial services division. Pros Every item must meet quality standards and have a minimum consignment value Offers financing If your item is ineligible for listing with Sotheby’s, they’ll refer you to one of their trusted partners Cons While quality standards are required, Sotheby’s makes no representation, warranty, or guarantee about an item’s authenticity, origin, age, or condition Every item sold as-is You may pay a resale royalty right (Droit de Suite) in addition to the buyer’s premium and sale price Established in 1744, Sotheby’s has specialists in 40 countries and hosts 600 auctions per year. It earns the spot for best auction website for luxury and collector items because you can buy and sell in over 44 different categories such as antiquities, jewelry, wine, contemporary art, and old master paintings. In addition to its auction site, there are thousands of products available to purchase at a list price. Sotheby’s also offers financing, should you need it. Anyone can sell with Sotheby’s, but they are selective in what items they’ll take. You have to submit photos, dimensions, history, and any item documentation with your estimate request. Within seven business days, you should have an estimate back. This estimate includes commission, damage and liability insurance fees, and marketing costs to promote the item. Sotheby’s doesn’t list its fees to sell your items publicly. However, estimates are free, so you can see what listing an item will cost before committing to it. Buyers can also expect to pay some fees. Every listing includes professional photos and a detailed description of the item in English, in addition to the language where the item is located. For example, if the Paris division is handling an auction, you’ll see a description in both English and French. When buying government surplus items, you want a legitimate website, and not one simply pretending to have affiliation with the U.S. government. GSA Auctions is a government website where you can buy Federal property like boats, helicopters, luxury vehicles, medical equipment, and even NASA Shuttle/Hubble items. Pros It’s an actual government website Use proxy bidding to indicate your maximum bid Payments made to the U.S. Department of Treasury at Pay.gov Cons Must verify your information with Experian to register an account If the auction doesn’t meet the minimum reserve, you don’t win the auction even if you’re the highest bidder Reserve price is never listed GSA Auctions is the best online auction website for government surplus items because it’s an official government website run by the General Services Administration. You’re not paying a markup to a website pretending to be affiliated with the government. Every listing has a minimum reserve price, which means even if you’re the highest bidder, you may not win the auction. Because GSA Auctions wants to maximize the money earned, you will never know what the reserve price is. GSA Auctions returns proceeds to federal agencies and the Treasury. There are no buyer fees, although some items may require a deposit to bid. You cannot sell items on this site because it’s only for government property. Auction categories include: Online auction websites allow you to sell and bid on items from the comfort of your home or office. Purchase or sell things like real estate, jewels, business equipment, vehicles, and electronics. Most online auction websites offer protection for both buyers and sellers. We recommend eBay as the best online auction website because it’s free for buyers, fees are reasonable for sellers, and its platform is incredibly user-friendly. It also offers protection for buyers and sellers from fraudulent and misrepresented listings. Online auction sites make money through listing fees, advertising fees, and buyer’s premiums. Think of buyer’s premiums as a commission—it’s a price above the winning auction price. You’ll usually find buyer’s premiums with online auction sites that use auctioneers. Other websites like eBay charge insertion fees, final value fees, and fees to upgrade listings. The most popular online auction sites include eBay, eBid, Sotheby’s, Copart, Auction.com, and GSA Auctions. Most of these sites offer free buyer registration and allow winning auctions to be paid for with credit, debit, money orders, and cashier’s checks. Some even provide in-house financing options. Before buying and selling on an online auction site, look at its reputation. You can usually find real reviews on social media sites like Reddit or Facebook. Legitimate auction sites offer privacy, security, and dispute resolution. It’s important to understand that while an online auction site might be legit, there are unscrupulous buyers and sellers on most platforms. Check seller reviews before bidding on an item, and if you’re a seller on a platform that allows buyer reviews, like on eBay, look at their reviews, too. Most auction sites offer dispute resolution for buyers and sellers and limit what methods of payment are available. For example, most auction sites don’t allow wire transfers but allow payment by debit card, credit card, or PayPal. The Fair Credit Billing Act helps protect buyers when using their credit cards. Use the auction site’s in-house communication system if available. This way, should a dispute arise, the site can see the exchange between buyer and seller. Never take communication or payment offline to avoid fees because that limits your protection. We looked at 28 online auction websites available and narrowed it down to the best options based on several features and considerations. We considered fees for both the buyer and seller, the site’s online reputation, real customer reviews, and available categories. Some sites are free for buyers, and others require a membership to bid on items. Those membership fees should be reasonable. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. IBISWorld. "E-commerce & Online Auctions in the US." Ebay. "eBay's Q1 2022 Business Results - The eBay Community." Ebay. "Our History - eBay Inc.." Ebay. "Selling Fees - eBay." Auction.com. "About Us - Auction.com." Auction.com. "Frequently Asked Questions," Expand "When Do I Need to Pay?" Copart. "About Copart." Copart. "Be a Premier Member." Copart. "Add a Deposit or Upgrade to Premier - Copart." Auction Technology Group. "Unlocking the Value of the Curated Secondary Goods Market." Sotherby's. "About Us." GSA Auctions. "About GSA Auctions." Federal Trade Commission. "Disputing Credit Card Charges."The Best Online Auction Websites for 2024
Best Overall : eBay
Best for Real Estate : Auction.com
Best for Auto : Copart
Guest Basic $59 per year Premier $249 per year + one-time $400 refundable deposit Browse online inventory Everything in Guest Everything in Basic Create a vehicle watchlist $2,000 in buying power $100,000 buying power per day Create saved searches Bid on multiple vehicles at a time Avoid needing multiple deposits Best for Business Equipment : BidSpotter
Best for Luxury/Collector Items : Sotheby’s
Best for Government Surplus Items : GSA Auctions
Bottom Line
Compare Providers
Online Auction Website Why We Picked It Key Benefit eBay Best Overall It’s free for buyers and most fees are reasonable for sellers Auction.com Best for Real Estate Buy bank-owned and foreclosed homes Copart Best for Auto You can buy clean and salvage titles whether you’re an individual, business, or dealer BidSpotter Best for Business Equipment Caters exclusively to business equipment with professional auctioneers all over the world Sotheby’s Best for Luxury/Collector Items One of the oldest and largest auction houses for luxury and collector items GSA Auctions Best for Government Surplus Items This is an actual government website for excess items Frequently Asked Questions
How Do Online Auction Sites Make Money?
What Are the Most Popular Online Auction Sites?
How Can You Tell If an Online Auction Site Is Legit?
What Measures Do Auction Sites Take to Protect Buyers and Sellers?
How We Chose the Best Online Auction Websites
See Also
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