Online Auctions

Prospective buyers can examine auction items before hand which can help sellers to set a minimum price below which they will not sell the property. Nowadays auction is taking place for artwork, antiques, secondhand goods, and farm houses, buildings repossessed by banks or government, and stock and commodity exchanges. There are different types of auction for each category. Jewellery auction are divided into three like 1920 jewellery auction, diamond auction and classic auction. In art there may be modern art auction, renaissance auction and alternative art auction. Likewise even house property auction are divided into commercial auctions, disused home auctions, repossessions, luxury homes auction. The oldest auction was for a bride known as Herodotus, existed in 500 B.C.,
were once in a year females of marriageable age were sold to the highest bidder. But times have changed; auction takes place through e-commerce or internet, which enables individuals to interact directly with each other electronically. Globalization and market growth is likely to further enhance this prominence in the twenty-first century.

Home auction is gaining popularity. Most real estate auction houses operate in the following way. Auction houses make a list of the upcoming live auction on their website. Prospective buyers register online to participate in the auction. Prospective buyers can have a look at the house for inspection on a particular day prior to live auction. Prospective buyers can make an offer on any home prior to the auction date. If the seller accepts, the home is excluded from the live auction. To participate in live auction, prospective buyers must bring earnest money, often a certified check that ranges from $1,000 to $5000. It is advised that buyers take a home loan upto the maximum amount they wish to bid. Buyers who fail to pay the money will lose their earnest money.

Commercial auctions
Certain developers specialize in buying commercial buildings such as pubs and shops. Commercial auctions help developers to attend only those auctions in which they are interested in.

Disused home auctions
Certain prospective buyers like to buy those type of properties which are in great need of repair. Buyers who are thinking of building a dream house may buy an old, disused home of great size in a good area for a very cheap price.

Repossessions
As mortgager is not able to pay mortgage amount due to rise in interest rates over the last couple of years homeowners are struggling to pay their mortgage amount because of which they lose their home. These properties are sold at rock bottom prices at property auctions so that potential buyers could get themselves a real bargain.

Luxury homes auction
Not only repossessed or disused properties are sold at auction. There are prospective buyers who wish to buy house at auction that are very costly. These properties go for an awful lot of money.

According to an association, gross annual revenue from home auction grew nearly 47 percent from 2003 to 2007. Home auctions, are usually web based and live bidding, which takes place when the sellers were not able to find a buyer the traditional way.

I understand you can see the results of completed auctions on Ebay.
If I wanted to see how much a particular guitar has sold for in the past, how do I go about doing that on ebay?

Selling through online auctions is a great way to earn extra cash or even start a full-time business. When you find your one stop online auction shop that’s just right, it can become a very lucrative business. There are many auction websites, but you’ll want to find a site that best fits your selling needs. Here are some tips.

Be an Auction Lurker

Before listing your items, observe the auctions for a while. See what’s hot and what’s not. Every auction site will have its own unique audience. Some will attract more of certain types of buyers than other auction sites. For more details www.auction-words.com The auction company might advertise more to certain groups of people using banners or paid search
engine listings. If you’re selling wholesale products
, then you will naturally want to list with an auction shop that attracts wholesale buyers who are looking for great bargains. If selling household items, you’ll want an audience of people who buy household auction items.

Also, observe how the site operates on a day-to-day basis. Do the auctions seem to end with more bids on certain days of the week or a certain time of the day? For instance, auctions that end on late Saturday night get more bids than those ending on a Tuesday night. Lurking at different auction sites will help you find a one-stop online auction shop that’s right for you.

Test Your Auction Items

When searching for your one stop online auction shop, try several test auctions with some of your items. Monitor the response as well as the amount of traffic the listings receive during the auction’s running time. Many auction sites allow you to place a visitor counter on your auction pages so you can know how many people view your auction. If you sell many types of products, advertise several items from a few categories.

Minimize Auction Expenses

There are many online auction shops that offer free or low-cost listing capabilities. Some auction sites only take a percentage of each sale while others may charge a fee for each listing whether you sell or not. Those auction sites that offer free listings and/or only take a percentage of each sale are very beneficial to you as a seller. You only pay when you sell items instead of paying high fees just to advertise your products, so you are taking no risk when listing your items. For more details www.auction-professional.com  Though these auction sites may have smaller amounts of traffic than the larger bidding sites, you might find the savings will make it worth your while. After all, auctions are supposed to be “bargain” sites, right?

Some auctions charge a fee AND take a percentage of each sale. These may have more traffic, but the charges add up in a hurry and every listing can become a financial risk when you’re just starting out.

With so many options, you can easily find a one-stop online auction shop that fits your budget and listing needs. Use these tips to find that perfect online auction shop and sell those unwanted items today!

i am trying to sell a lot of baby clothes for only $.99. i made the page look nice and included lots of pictures and descriptions.

look at it here http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=270258175661

what do you think of the listing?
how can i improve?
are there any other sites i can post the auction at to generate more bids???

thanks to all with advice!

I bought an auction template for my eBay Store Items….i have uploaded a picture to where it tells me to put the DIRECT LINK CODE ….BUT…..I want to add another picture too but what do i put? What HTML Code do you put to add a second picture?

Thank you, Thank you, Thank you sooo much

ok so my friend just bought 6 Twilight eBooks thinking they were the actual books. so now he’s out $20 and he has no clue how to redeem them and wants a refund because he messed up. so how are eBooks redeemed after being won on eBay?. because I have a Kindle so if he can’t get I’m willing to buy them from him

Auction Bids To Zero

How about online auction sites where the item gets cheaper with every bid that comes in. How interesting is that? This particular auction house category is titled….’Bid to Zero’.

Imagine if you were bidding on a car or any top brand product….and your bid….did get to zero! Forget it….it won’t happen. Someone will zap it up before that possibility!

With these auctions….the item starts off at the normal sale price….and then goes down with each bid.So if it reaches a price that someone is happy to pay….that’s it….sold. Really….won…would be more accurate.

Reverse Auctions

To continue the same scenario as above, while an item price is being bid down….there could be twenty people biding. Out of those 20 bidders….5 bidders may be looking at paying….say….$500 for the item. All five bidders claim the bid at $500. In this case the online auction sites use a special formula to decide the bid winner.

Another auction bid type is the unique reverse auction. As the name suggests the above scenario does not happen.The bid has to be ‘unique’. To add to that….there are two variations.

1. Highest unique bid….unmatched at the close of the auction….wins the biding.With these the maximum bid is set at a below normal sale price.

2. Lowest unique bid….has to be unmatched at the close of the auction. Another couple of bidders could of each bid…an identical lower price, but their bid would not be unique. With this type of auction the starting price would be at the normal sale price.

You can see that internet technology is the catalyst for these auctions. Offline….the purpose of an auction is to attain the highest possible bid price. The Collins Dictionary defines an auction as ‘a public sale where articles are sold to the highest bidder’. The emphasis with reverse auctions…seems to be more on its competiveness…as opposed to the actual price.

The Next Generation: Social Competive Interaction

It should never be forgotten that the primary purposes of the online auction sites are to sell products. Because the items are sold at a fraction of their normal price…is neither here nor their. It is great for the successful bidders, but every auction bid is paid for. I’ll explain that further.

To participate…you register online,select a username and get some ‘bid credits’. When you go to the site and login with your username….you’ll see your available ‘bid credits’ displayed. As you bid…the number of available bids reduces. If you’re biding on the ‘Bid to Zero’ auction house….the bids are 50cents to 66cents each. That bid puts the item price down 20 cents. The residue….the difference in the bid cost and the item price reduction….goes to:

1.The cost of the purchase of the item

2.The cost of the freight and handling to the winning bidder

3.To administration costs of the online auction sites and their profit

All the costs are taken care of…by the participants purchase of ‘bid credits’. So the emphasis….as I alluded to earlier…is towards the competive nature of the participants. Social competive interaction online….expressed in a style of auction entertainment….WOW! Whenever I was biding at an (offline) auction….I never saw it as entertainment….except when the Guy chasing flies…had an item knocked down to him. That gave everyone else a laugh!

Internet technology has made this form of social competiveness possible. Not the same as the ’survivor series’ on TV….but maybe more rewarding.

New International Internet Auction Site

A United States company is the latest developer of one of these online auction sites. In building this new system they have gone with quality top brand products to offer. It would be fair to say they have picked the eyes out of the best methods…currently used in similar European auction sites. Eventually they will have as many as eight auction houses…all with various auction styles.

They are making the auctions available on an international basis. Something the other auction sites have been slow to do. I have been advised that they will probably have special delivery arrangements for large items won by bidders living outside of the US…..makes sense!

You Can Become a Business Associate

Also different about this new auction entertainment website is that a business opportunity has been incorporated. Business associates will be able to market the opportunity for the specific purpose of encouraging people to buy bid credits.

What seems sure…is that this social competive interaction as they call it…is highly likely to be very popular. Therefore the business opportunity will very likely….be lucrative!

My Summary

Are these real auctions? You can look at it this way:

Those auction houses where the bid causes the price to rise….even if the rise is fixed at only a penny or a nickel for each bid…do qualify under the definition of an auction.

The auctions where each bid causes the item price to fail….surely are not auctions….but ‘reverse auctions’. As in ‘done’ and ‘undone’.

These online auction sites are a new marketing outlet for the product manufacturers and merchants.They are good business for the auction sites, who make their money on shifting quality products. The bidders could pick-up a new car or TV or computer or a million dollar life insurance policy….for example. Also they could do that for an outlay of $20 worth of bid credits and a whole heap of fun! That seems to make online auction sites….a win-win-win situation….for all participants!

Learning about auctions on and offline can be fun and informative. In this article you’ll discover the differences between various types of auctions.

English auction: This is what most people think of as an auction. Participants bid openly against one another, with each bid being higher than the previous bid. The auction ends when no participant is willing to bid further, or when a pre-determined “buy-out” price is reached, at which point the highest bidder pays the price. The seller may set a ‘reserve’ price and if the auctioneer fails to raise a bid higher than this reserve the sale may not go ahead.

Dutch auction: In the traditional Dutch auction the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer’s price, or a predetermined minimum price is reached. That participant pays the last announced price. This type of auction is convenient when it is important to auction goods quickly, since a sale never requires more than one bid.

The Dutch auction is named for its best known example, the Dutch tulip auctions; in the Netherlands this type of auction is actually known as a “Chinese auction”. “Dutch auction” is also sometimes used to describe online auctions where several identical goods are sold simultaneously to an equal number of high bidders. Economists call the latter auction a multi-unit English ascending auction.

Sealed High-Bid Auction: In this type of auction all bidders simultaneously submit bids so that no bidder knows the bid of any other participant. The highest bidder pays the price they submitted.

Vickrey auction: Also known as the sealed second-price auction. This is identical to the sealed high-bid auction, except the winning bidder pays the second highest bid rather than their own.

Silent auction: This is a sealed variant often used in charity events, but involving the simultaneous sale of multiple items. Participants submit bids normally on paper, near the item. They may or may not know how many other people are bidding or what their bids are. The highest bidder pays the price they submitted.

Procurement auction: This kind of auction reverses the roles of seller and buyer. The buyer puts out an RFQ for a given commodity and providers offer progressively lower prices in hopes of getting the business. At the end of the auction, the lowest bid wins.

Digital art auction: In this indefinitely long auction, designed for unreleased works that are trivially reproducible at zero cost (recordings, software, drug formulae), bidders openly submit their maximum bids. The seller may review the bids and close with a price of their choosing at any time. The successful bidders that pay this price are those whose bid meets or exceeds it.

Open outcry auction: This type of auction can refer to any auction where the auction is conducted orally for people to hear typically used in stock exchanges and commodity exchanges, where trading occurs on a trading floor and traders may enter verbal bids and offers simultaneously. This type of auction is being replaced by electronic trading platforms.

Unique bid auction: In this type of auction users post blind bids and are given a range of prices they can place a bid in, often a capped limit. The highest, or lowest, unique bid wins. For instance an auction is given a maximum bid of 10. If the top five bids are 10, 10, 9, 8, 8 then 9 would be the winner being the highest unique bid. This is a popular online type of auction.

Buy-out auction: This auction has a predetermined buy-out price in which the bidder can end the auction by accepting the buy-out price. The buy-out price is set by the seller. The bidder can choose to bid or use the buy-out option. If no bidder chooses to utilize the buy-out option, the auction ends with the highest bidder winning the auction. You can often find this type of auction on eBay.

Be sure you understand the type of auction you are participating in before it starts. Sometimes mistakes made at an auction can smart and be costly if you don’t know what you are doing.

Permission is granted to reprint this article as long as no changes are made, and the entire resource box is included.

Selling through online auctions is a great way to earn extra cash or even start a full-time business. When you find your one stop online auction shop that’s just right, it can become a very lucrative business. There are many auction websites, but you’ll want to find a site that best fits your selling needs. Here are some tips. Be an Auction Lurker Before listing your items; observe the auctions for a while. See what’s hot and what’s not. Every auction site will have its own unique audience. Some will attract more of certain types of buyers than other auction sites. The auction company might advertise more to certain groups of people using banners or paid search engine listings.

If you’re selling wholesale products, then you will naturally want to list with an auction shop that attracts wholesale buyers who are looking for great bargains. If selling household items, you’ll want an audience of people who buy household auction items. Also, observe how the site operates on a day-to-day basis. Do the auctions seem to end with more bids on certain days of the week or a certain time of the day?

For instance, auctions that end on late Saturday night get more bids than those ending on a Tuesday night. Lurking at different auction sites will help you find a one-stop online auction shop that’s right for you. Test Your Auction Items when searching for your one stop online auction shop; try several test auctions with some of your items. Monitor the response as well as the amount of traffic the listings receive during the auction’s running time. Many auction sites allow you to place a visitor counter on your auction pages so you can know how many people view your auction. If you sell many types of products, advertise several items from a few categories.

Minimize Auction Expenses there are many online auction shops that offer free or low-cost listing capabilities. Some auction sites only take a percentage of each sale while others may charge a fee for each listing whether you sell or not. Those auction sites that offer free listings and/or only take a percentage of each sale are very beneficial to you as a seller. You only pay when you sell items instead of paying high fees just to advertise your products, so you are taking no risk when listing your items. Though these auction sites may have smaller amounts of traffic than the larger bidding sites, you might find the savings will make it worth your while. After all, auctions are supposed to be “bargain” sites, right? Some auctions charge a fee AND take a percentage of each sale. These may have more traffic, but the charges add up in a hurry and every listing can become a financial risk when you’re just starting out. With so many options, you can easily find a one-stop online auction shop that fits your budget and listing needs. Use these tips to find that perfect online auction shop and sell those unwanted items today.

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I want to do the auction things and sell some books. But I’m just wondering what is another good auction site to do that with. I’m looking for something other than Ebay. Any ideas anyone. I welcome the ideas.