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Online auctions are now the new gold rush on the internet.
It seems as if everyone is talking about online auctions. And why not. There are thousands of online auctions on the internet with more popping up everyday.
People love them because they can usually find great bargains. Businesses are now also seeing the benefits of online auctions.
Below are five ways your business can benefit from online auctions.
1. Get Rid Of Excess Inventory
You could sell your excess or discontinued products at an online auction. Your unsold inventory is doing you no good sitting around, collecting dust. It's an effective way to make extra income and it won't be a total loss for your business. You could even get lucky and make a profit depending on how much people will bid for your excess inventory.
2. Test Pricing For New Products
An easy way to test new product prices is to see what people will bid for them at an online auction. First, sell your product at three different online auctions. Next, calculate the average selling bid from all three auctions and that will be your selling price for your new product.
3. Sell Your Products
You can get your product in front of a large audience by selling it at an online auction. Some of the bigger auction sites draw over millions of hits a year. The key to being successful is to sell your product at multiple online auctions at the same time. Let's say you sold one product a day from just one auction site. If you sell your product at one hundred online auction sites that would be one hundred sales a day!
4. Start Your Own Online Auction
Drive traffic to your web site by starting your own online auction. People will visit your web site to find bargains and to sell their own products. You will get plenty of repeat visitors from people re-bidding on products and adding new products to sell. You could also charge other businesses to advertise on your web site.
5. Lower Your Business Costs
You can find lower prices on business supplies and equipment at online auctions. I'm not saying all the time, but before you go pay retail for a new printer try bidding on one first. A company may be selling them at a lower price at an online auction because they have excess inventory.
May you succeed in your online auctions and make a lot of money.
I-key Benney, CEO
I-key, a Millionaire CEO from New York City is the creator of "Mscsrrr: Millionaire Secret Cash System", (home based business) which has helped thousands of ordinary people from all over the world to attain financial security and shining success during the past 2 yrs.
Mscsrrr Millionaire Cash System helps you to generate $1,500+/Week for life, from home or office, part time or full time. No large investment or hassles. Win $1000-$2000 free "cash"?
John F Kennedy's silk scarf may fetch USD 6000 at auction
Boston, Jan 21 A cream-coloured silk scarf belonging to former US President John F Kennedy is up for auction and is expected to sell USD 6,000. The scarf from A Sulka & Company was worn by Kennedy during his tenure as a congressman and into his early ...
John F Kennedy's silk scarf may fetch USD 6000 at auction
A cream-coloured silk scarf belonging to former US President John F Kennedy is up for auction and is expected to sell USD 6,000. The scarf from A Sulka & Company was worn by Kennedy during his tenure as a congressman and into his early senatorial ...
Winds of change with reverse auctions
Wind power producers were always paid at a pre-determined rate for the power they produced (feed-in tariff). But this allowed producers who could develop a site as a monopoly to pad costs and accrue returns far in excess of what a utility could expect ...
6 Indian marquee players up for grabs at IPL Auctions
With the IPL auctions around the corner, the BCCI has released the final list of players who will be available for auctions on January 27th and 28th. 16 marquee players will be up for grabs of the total 578 players at the auctions. Here is a detailed ...
Morocco probes dinosaur tail sold in Mexico auction
RABAT: Moroccan authorities have opened an inquiry into the origins of a dinosaur tail from the North African country sold at auction in Mexico, the culture ministry said. The four-metre-long (13-foot) fragment of an "Atlasaurus tail from the Jurassic ...
IPL 2018: List of Australian players and their base price for the auction
Australian players are picked every season and they make the playing XI owing to their quality in various departments of the game. They play the Big Bash League during the period from December to February and most of them are accustomed to playing the ...
Open-minded on spectrum sale timing, will await Trai report, says Department of Telecom
The Department of Telecom (DoT) has kept an open mind on the timing of the next round of spectrum auction and will await regulator Trai's report before firming its views, says a top government official. The Telecom Regulatory Authority of India (Trai ...
Open-minded on spectrum sale timing,will await TRAI report: DoT
The Department of Telecom (DoT) has kept an open mind on the timing of the next round of spectrum auction and will await regulator TRAI's report before firming its views, says a top government official. The Telecom Regulatory Authority of India (TRAI ...
Open-minded on spectrum sale timing,will await Trai report:DoT
New Delhi, Jan 21 The Department of Telecom (DoT) has kept an open mind on the timing of the next round of spectrum auction and will await regulator Trai's report before firming its views, says a top government official. The Telecom Regulatory ...
Melbourne's outer suburbs get headstart on 2018
CoreLogic state director for Victoria Geoff White said suburbs with a large amount of auctions as well as a high clearance rate were in a particularly strong position. “Those areas that have been at, or below, the Melbourne median house price have ...
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