Getting the best deals at online auctions - NBC12 - WWBT - Richmond, VA News On Your Side

Getting the best deals at online auctions

(WWBT) -

If you're not shopping our area's online auctions, you're missing out on some incredible bargains!

When style guru Sydney Lester isn't scoping out second hand stores, she's online perusing thousands of items up for auction.

"Right now, I'm looking for some rugs for our home," she says. Sydney searches several online auction websites, including Cannon's Auctions and Susan's Selections -- two of several in our area -- and clicks on the rug category

Along with shopping for her home, she's also buying for her business. She and her sisters created the Genesis Clothing Company, re-selling unique outfits and accessories they buy at a huge discount. 

"We'll buy them at a relatively low price, and sell them for about a market rate that you would find if you went to a store," Sydney explains.

One example is a vintage black beaded bag; Sydney snagged it for $6, never paying any more than she would in a thrift store.

"It's in extraordinary shape... it's perfect," she describes.

And she can resell it for 10 times what she paid for it.

Then there was a Moschino belt...

"It was in a lot with 20 other belts. I got the whole lot for $11. These belts retail between $295 and $430."

She Googles the details to find an original price, then determines what she's willing to spend. You can set a maximum bid and wait for the best, but Sydney finds the prices stay lower if she bids in the last 10 minutes.

For some auctions you can't preview the merchandise. Sydney's been burned by these in the past, so she always recommends going to look at an item first, and to make sure you know exactly when the auction ends.

Also make sure you know when you need to pick up your purchases.

"If you don't come on the day and time they specify, they will deem your property abandoned," she says.

Invoice in hand, Sydney goes to collect jade pendants which will sell well in the store... plus her home's new Persian rug that only cost her a hundred bucks.

HELPFUL LINKS:

Genesis Clothing Company -- Website, Instagram, Twitter, Facebook, Email

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