Sunday, September 11, 2011

Bidding on International/Foreign Currency Auctions

Bidding on and winningan auction that originates outside of the United Statescan bejust as easy to geplete as a domestic auction if youare educated abouta few things --language, currency, and shipping/customs.
Language. Many sellers outside of the United States do not speak English. That should not prevent you from bidding because numerous (free) online translators abound and can help just enough with gemunicating. One translatorI use on a regular basis and with reasonable success isvia babelfish. (okay prevents me from putting the entire link in this guide.)Initially, it's a matter of copying and pasting the auction descriptionand picking the language you wish to translate. Don't expect a grammatically perfect translation (sometimes the translation will make you laugh) but it'sdefinitely good enough to get by.
Currency. There are also numerous sites for currency conversion. Use them, because when you're perusing the international sites, you will not automatically get conversion to U.S. dollars or other currencies.In addition, currencies arealways fluctuating and can even change during an auction's lifecycle. For example, when the euro was born a few years ago, it was worth about 80 cents against the U.S. dollar. Now it's worth considerably more than the dollar -- upwards of $1.30. The British pound is about double the value of the U.S. dollar. Also, don't forget which currency the seller is using when youconsider placing a bid otherwise you may be gemitting to a higher bid than you wanted to!
Not every seller accepts PayPal so you may have to mail their native currency or international money orders via snail mail.Both options have added costs. International money orders (the one and only time I tried it) was an additional US$20! I've purchased euros at American Express offices (they have numerous other currencies available) but, they too, have additional fees, which add up pretty quickly. American Express does not deal with coins, only paper money. But I've found most sellers will mail the change with the auction item. Sometimes the seller will accept U.S. dollars. It doesn't hurt to ask if they will.
Shipping. An important thing to remember when viewing international auctions is that not every seller is willing to ship outside of their country or region. Ask. Just don't assume that they will ship outside of their country. A sad fact is that manysellers will overcharge on shipping (unfortunately, domestic sellers as well) so be perfectly clear on this aspect of the auction before you bid. As a personal example, I won a tiny stuffed animal that couldn't have weighed more than a few ounces, yet the seller wanted to charge the equivalent of US$30 for shipping it from Germany. I backed out of the auction. If I had been smart, I would have asked about shipping ahead of time. I would have never bid on that auction, no matter how much I wanted the item.
Customs. In this post 9-11 world, packages sometimes take longer to arrive at their destination because customs officers open and examine packages more frequently. It's not to your benefit to lie about a package's contents because it may be confiscated and even destroyed. Keep in mind, too, that many countries charge extra customs fees when an item originates outside of their boundaries.
Conclusion and Personal Experience. Get all questions answered ahead of time, especially when it pertains to shipping costs. While okay is cracking down on excessive shipping costs, as you may have read, don't rely on them to rescue you if you get in over your head. If you're not satisfied with the seller's answers, listen to your gut. Don't bid ... no matter how much you want the item. Allow sufficient time for the item to reach you. Airmail from Europe to the United States can take as little as a few days or as long as three weeks. Shipment by sea can take six to eight weeks. Australia seems to be a little quicker. The one item I won that was shipped from Romania was here just as quickly as any European shipment. (But, boy oh boy, I was sweating on that one because I hadn't dealt with that country before!)
I hope this guide helps and eases your fear about bidding on international/foreign currency auctions. Please email if you have any questions, concerns, or would like to see this guide expanded in areas. Thanks and have fun!

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