Tips for Buyers: Before Placing Your Bid
Simple tips to follow before placing your bid on a LabX LabAuction ad:
- Understand how LabX works. LabX is a media service for the exchange of scientific equipment. We neither buy nor sell equipment, but rather provide a means for buyers and sellers to connect. At LabX, the bid entered into the bid box will be displayed as an actual and binding bid.
- Research the seller. Reading the available information about a seller will help you proceed with the transaction. Consider the seller’s previous ads placed on LabX, how long they have been registered with LabX, whether they are a LabX sponsor or not, etc. Also, view the ratings and comments left by other buyers who have dealt with this seller. Ratings feedback can provide insight when dealing with unknown sellers. Contact LabX if you have any questions.
- Read the ad carefully. Understand the item being sold and the terms of the sale. Is a warranty offered? Will the item work when you receive it? Are returns accepted? What are the payment methods?
- Consider the seller’s terms and conditions. Understand the conditions under which the item is being sold. Is there a specific time frame in which payment needs to be made? Does the seller ship to your location? If you are unable to complete the transaction within the specified time frame, or the seller does not ship to your area, please do not place a bid. Contact the seller for answers to your questions.
- Evaluate the payment options accepted by the seller.
Decide which method you would be most comfortable with should you become the winning bidder. If you are uncomfortable with the seller’s payment options, please do not place a bid.
Credit card: Most credit card companies provide 100% protection for purchases made online. Credit cards provide a fast and effective way to close the sale.
Checks: Sending a check is an effective means of completing a sale. Remember, sending checks via the postal system will prolong the completion of the sale.
Wire transfers: Wire transfers offer no protection and little recourse should problems arise. They are also frequently used in online scams. Trust your seller before using this method of payment.
Escrow services: These third-party services protect both buyer and seller by holding payment for the item and releasing it to the seller once the buyer has received and inspected the item. Most sellers will request that you cover the escrow fees.
Online Payment Services: Many (but not all) provide some level of protection for your transaction. Ensure you understand the level of protection offered by your online payment service and what you are covered for.
- Contact the seller with any questions. If you are unsure about the item being sold or the terms and conditions of the sale, contact the seller before placing your bid. The contact information for the seller can be found at the bottom of the ad in the “Contact the Seller” section. This section provides a phone number and email form for direct contact with the seller.