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Online Auctions Business


Online auction sites are a great way to find a bargain on almost anything and an excellent way of getting the best price for selling something of your own. Online auctions are different from their real-world counterparts. You are free to take your time browsing the listings and bidding takes place over a period of days rather than minutes. Online Auctions offer good opportunity for anyone wishing to start an online business for a number of reasons. If you feel you have the persistence necessary to run your own successful business, this is one opportunity you should consider.

Basic Idea

Your business is to sell playing intermediary role helping people to buy items they need. You do not need stock as you can start by placing drop shipper's items on eBay to get you started. Drop shipping is used by intermediary and mail order companies who do not wish to stock inventory of the products sold for future delivery through mail order, catalogues and internet advertising. You send single unit orders for products to manufacturers, or major stocking distributors, who in turn drop ship the merchandise direct to your customers found at online auction. Manufacturers providing drop shipping services can gain additional sales, shift advertising costs to middlemen, offer advertising material and reduce inventory requirements. You shift the risks of stocking inventory to the supply source, including storage, insurance, overhead, and personnel by spending nothing on inventory, until after the product is sold.

Advantages

Minimal capital needed to start. You loose a few dollars in eBay fees if your item doesn't sell.

Disadvantages

Lack of public information on general sales methods and techniques used. This is not passive income system. You should work all the time you want to run your business.

Common mistakes to avoid

1. Listing an item with wrong auction expiration time. It's a known fact that more buyers browse auction sites on Sunday evenings than any other time during the week.

2. Not giving your listing the attention it deserves. Lots of people place items without photos and even good description. Lots of people use all kinds of flashing animation, multicolored text and other bells and whistles in an attempt to entice bidders. Listings like these are distracting, hard to read, and will always discourage people from bidding, resulting in a lower final sales price.

3. Using a reserve price. Using a reserve price to guarantee that one will get a minimum price for an item. People will not bid on "Reserve" auctions as they don't want to get "Reserve not yet met" message.

4. Not planning your business activities. It is always better to create business plan and start implementing it. eBay business requires procedured to be done everyday so plan it thoroughly.

5. Not selecting several good drop shippers. Your business should be stable. Drop shippers can quit and also they can kill your business by not meeting your expectations. So rotate them until you get several good ones for your business.

You can find books to read first and Online Actions list at www.RichTrack.com.

Written by Helen Peshkova, RichTrack.com.

http://www.RichTrack.com is one of the first business oriented education portals. It's the leading online business information network for millionaires. The goal of RichTrack.com is to present business content in a professional, helpful and practical format that helps you getting rich.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Thu. December / 12 / 2019

Big Oil’s Wishlist: The Hottest Oil Auctions In 2020 - Yahoo Finance
Big Oil’s Wishlist: The Hottest Oil Auctions In 2020  Yahoo Finance

PODCAST: Doug Hadden of ACV Auctions - Auto Remarketing
PODCAST: Doug Hadden of ACV Auctions  Auto Remarketing

Auction calendar: December 13, 2019 - Wisconsin State Farmer
Auction calendar: December 13, 2019  Wisconsin State Farmer

The Largest Private Whisky Collection To Go Up For Auction Could Be Worth $10 Million - Forbes
The Largest Private Whisky Collection To Go Up For Auction Could Be Worth $10 Million  Forbes

Serena Williams' smashed US Open racket auctions for nearly $21G -- after ball boy sold it for $500 - Fox News
Serena Williams' smashed US Open racket auctions for nearly $21G -- after ball boy sold it for $500  Fox News

Dan Imler Joins Heritage Auctions as Vice President of Sports Division - Sports Collectors Daily
Dan Imler Joins Heritage Auctions as Vice President of Sports Division  Sports Collectors Daily

Important Ruth, Mantle Photos Top Hunt Auctions Premier Event - Sports Collectors Daily
Important Ruth, Mantle Photos Top Hunt Auctions Premier Event  Sports Collectors Daily

Belgian art collector sues over Gary Picasso auction: ‘Technically, it was sold to you.’ - Chicago Tribune
Belgian art collector sues over Gary Picasso auction: ‘Technically, it was sold to you.’  Chicago Tribune

Auction 103 concludes second round with $715M in bids - FierceWireless
Auction 103 concludes second round with $715M in bids  FierceWireless

FCC's Next 5G Spectrum Auction is Underway - Telecompetitor
FCC's Next 5G Spectrum Auction is Underway  Telecompetitor

TCA Stallion Season Auction Set for January - BloodHorse.com
TCA Stallion Season Auction Set for January  BloodHorse.com

The 9 most expensive Disneyland items sold at auction featuring 1,500 theme park collectibles - OCRegister
The 9 most expensive Disneyland items sold at auction featuring 1,500 theme park collectibles  OCRegister

Jack Nicklaus' gold Rolex watch sells for $1 million at auction - CNBC
Jack Nicklaus' gold Rolex watch sells for $1 million at auction  CNBC

Bid on unique experiences for fans of every team - MLB.com
Bid on unique experiences for fans of every team  MLB.com

Bike auction coming in La Crosse due to surplus - News8000.com - WKBT
Bike auction coming in La Crosse due to surplus  News8000.com - WKBT

For Auctions, It’s ‘No Froth,’ but ‘Steady.’ That’s the New Normal. - The New York Times
For Auctions, It’s ‘No Froth,’ but ‘Steady.’ That’s the New Normal.  The New York Times

Phillips’ New York Game Changers Auction Sets Records With Over $20 Million in Sales - Barron's
Phillips’ New York Game Changers Auction Sets Records With Over $20 Million in Sales  Barron's

Trucks, Tractors And Trailers Draw Crowd, Big Bucks At Fort Worth Auction - CBS Dallas / Fort Worth
Trucks, Tractors And Trailers Draw Crowd, Big Bucks At Fort Worth Auction  CBS Dallas / Fort Worth

Oil companies press Mexican president to resume suspended auctions - Reuters
Oil companies press Mexican president to resume suspended auctions  Reuters

History up for sale at Limpert Bros. liquidation auction set for Saturday - The Daily Journal
History up for sale at Limpert Bros. liquidation auction set for Saturday  The Daily Journal

Westminster annexing former Livestock Auction, site planned for 40 workforce housing units - Baltimore Sun
Westminster annexing former Livestock Auction, site planned for 40 workforce housing units  Baltimore Sun

Christie’s Will Launch a New Hong Kong Auction to Coincide With Art Basel, Undeterred by Ongoing Protests - artnet News
Christie’s Will Launch a New Hong Kong Auction to Coincide With Art Basel, Undeterred by Ongoing Protests  artnet News

Saudi Aramco Shares Climb 10% in Pre-Market Auction - Bloomberg
Saudi Aramco Shares Climb 10% in Pre-Market Auction  Bloomberg

Princess Diana's Famous 'John Travolta Dress' Fails to Sell at Auction - PEOPLE.com
Princess Diana's Famous 'John Travolta Dress' Fails to Sell at Auction  PEOPLE.com

Hollywood Artifacts Take Center Stage at Julien’s Auctions - Barron's
Hollywood Artifacts Take Center Stage at Julien’s Auctions  Barron's

Sicilian Homes Went Up for Auction Starting at €1. More Than 100000 People Called. - The Wall Street Journal
Sicilian Homes Went Up for Auction Starting at €1. More Than 100000 People Called.  The Wall Street Journal

Kalamazoo’s old candy cane decorations fetch thousands at auction - mlive.com
Kalamazoo’s old candy cane decorations fetch thousands at auction  mlive.com

Buyer returns Grease jacket to Olivia Newton-John after auction - BBC News
Buyer returns Grease jacket to Olivia Newton-John after auction  BBC News

"The Perfect Collection" of Whisky Is Up For Auction, and It's Going To Break a Record - InsideHook
"The Perfect Collection" of Whisky Is Up For Auction, and It's Going To Break a Record  InsideHook

Need to do some holiday shopping? CPD wants you to shop its auction - WIS10
Need to do some holiday shopping? CPD wants you to shop its auction  WIS10

Senate Commerce Committee OKs C-band auction bill - FierceWireless
Senate Commerce Committee OKs C-band auction bill  FierceWireless

Airplane auction coming to Fort Worth Spinks Airport - Fort Worth Star-Telegram
Airplane auction coming to Fort Worth Spinks Airport  Fort Worth Star-Telegram

Autographed Ayrton Senna helmet brings $102,000 at auction - The ClassicCars.com Journal
Autographed Ayrton Senna helmet brings $102,000 at auction  The ClassicCars.com Journal

Tiegs prevails over Simplot in auction for NORPAC facility - Capital Press
Tiegs prevails over Simplot in auction for NORPAC facility  Capital Press

US wine buyers turn to auctions to dodge Trump tariffs - Financial Times
US wine buyers turn to auctions to dodge Trump tariffs  Financial Times

Bulletin board auction is just heating up | News, Sports, Jobs - The Daily Times
Bulletin board auction is just heating up | News, Sports, Jobs  The Daily Times

Sanibel Island's 'Spider in the Sand' to go up for auction - Wink News
Sanibel Island's 'Spider in the Sand' to go up for auction  Wink News

Matsu Sushi closes, auction canceled - Westport News
Matsu Sushi closes, auction canceled  Westport News

Mecum auto auction sells $9M in KC — here's a look at the 10 highest-priced vehicle sales - Kansas City Business Journal
Mecum auto auction sells $9M in KC — here's a look at the 10 highest-priced vehicle sales  Kansas City Business Journal

Office building on 280 corridor set for auction - Birmingham Business Journal
Office building on 280 corridor set for auction  Birmingham Business Journal

From cancelled fairs to street art's auction room takeover: the art market's fruitiest stories of 2019 - Art Newspaper
From cancelled fairs to street art's auction room takeover: the art market's fruitiest stories of 2019  Art Newspaper

Fall Art Auctions See Significant Declines - The New York Times
Fall Art Auctions See Significant Declines  The New York Times

Rocky start for inaugural hemp auction, but more events are planned Hemp biomass auction off to a rocky start with more events soon - Hemp Industry Daily
Rocky start for inaugural hemp auction, but more events are planned Hemp biomass auction off to a rocky start with more events soon  Hemp Industry Daily

Auction raises funds for local scholarships - KYMA
Auction raises funds for local scholarships  KYMA

Sea Save Foundation's Annual Auction Ends December 19th - PRNewswire
Sea Save Foundation's Annual Auction Ends December 19th  PRNewswire

Jack Nicklaus' Rolex Sells for $1.22 Million at Auction - InsideHook
Jack Nicklaus' Rolex Sells for $1.22 Million at Auction  InsideHook

Massive Scotch whisky collection could fetch $10.5 million at auction - ABC News
Massive Scotch whisky collection could fetch $10.5 million at auction  ABC News

DNR to auction public land in 'prime locations' throughout Michigan - MLive.com
DNR to auction public land in 'prime locations' throughout Michigan  MLive.com

NORPAC auction ‘significantly’ bids up price - KOIN.com
NORPAC auction ‘significantly’ bids up price  KOIN.com

Motleys expands its business by buying a big warehouse and Chesterfield auction company - Richmond.com
Motleys expands its business by buying a big warehouse and Chesterfield auction company  Richmond.com

This Season’s Auctions? The “Old Normal” Says Head of Citi Art Advisory - Forbes
This Season’s Auctions? The “Old Normal” Says Head of Citi Art Advisory  Forbes

Mecum Auction sells more than 400 collector cars for $9 million at Bartle Hall - WDAF FOX4 Kansas City
Mecum Auction sells more than 400 collector cars for $9 million at Bartle Hall  WDAF FOX4 Kansas City

Auction calendar: December 6, 2019 - Wisconsin State Farmer
Auction calendar: December 6, 2019  Wisconsin State Farmer

FCC's Latest 5G Spectrum Auction Gets Underway - Multichannel News
FCC's Latest 5G Spectrum Auction Gets Underway  Multichannel News

Pristine Copy Of First Marvel Comics Issue Auctions For $1.26 Million - DOGOnews
Pristine Copy Of First Marvel Comics Issue Auctions For $1.26 Million  DOGOnews

Horace Mann Students ready to bid at live auction - KELOLAND.com
Horace Mann Students ready to bid at live auction  KELOLAND.com

Former Nike Employee Of Over 30 Years Lists A Major Haul Of Rare Samples on eBay - Sneaker News
Former Nike Employee Of Over 30 Years Lists A Major Haul Of Rare Samples on eBay  Sneaker News

Legend Rare Coin Regency Auction 35 - CoinWeek
Legend Rare Coin Regency Auction 35  CoinWeek

Royal Treasures from Queen Elizabeth's Aunt and Uncle Head to the Auction Block - TownandCountrymag.com
Royal Treasures from Queen Elizabeth's Aunt and Uncle Head to the Auction Block  TownandCountrymag.com

Do I hear $1,000? Auction of Hahnemann University Hospital equipment begins - Philadelphia Business Journal
Do I hear $1,000? Auction of Hahnemann University Hospital equipment begins  Philadelphia Business Journal

Gavel will drop one last time at Suess Auctions - PostBulletin.com
Gavel will drop one last time at Suess Auctions  PostBulletin.com

Tupac Shakur's Prison Polaroids With Wife Keisha Morris Going Up For Auction - HotNewHipHop
Tupac Shakur's Prison Polaroids With Wife Keisha Morris Going Up For Auction  HotNewHipHop

AuctionTime & WMS Auctions to Host Open House in Upper Sandusky, Ohio, for Farmers & Equipment Dealers - PRNewswire
AuctionTime & WMS Auctions to Host Open House in Upper Sandusky, Ohio, for Farmers & Equipment Dealers  PRNewswire

Looking For Property? DNR Public Land Auction Starts Tuesday - WWJ Newsradio 950
Looking For Property? DNR Public Land Auction Starts Tuesday  WWJ Newsradio 950

Oil companies swap stakes in Mexico as government holds off on auctions - Reuters
Oil companies swap stakes in Mexico as government holds off on auctions  Reuters

Auction Report: Watches With Ritz And Hemingway Provenance At Christie's New York - HODINKEE
Auction Report: Watches With Ritz And Hemingway Provenance At Christie's New York  HODINKEE

Rotary auction brings in funds to help spread Christmas cheer - The Recorder
Rotary auction brings in funds to help spread Christmas cheer  The Recorder

Rare art, collectibles up for auction in Detroit - Crain's Detroit Business
Rare art, collectibles up for auction in Detroit  Crain's Detroit Business

Bard on the auction block: Mills College selling rare Shakespeare collection that could fetch millions - East Bay Times
Bard on the auction block: Mills College selling rare Shakespeare collection that could fetch millions  East Bay Times

NOAA: Rafaels misreported fish disappeared at Whaling City auction - SouthCoastToday.com
NOAA: Rafaels misreported fish disappeared at Whaling City auction  SouthCoastToday.com

Treasury yields rise slightly as investors monitor US-China trade - CNBC
Treasury yields rise slightly as investors monitor US-China trade  CNBC

Bennett's Premiere Auctions Group Brings the Inaugural Auction of the David L Root Ancient Indian Artifact Collection to Global Bidders via Proxibid - Business Wire
Bennett's Premiere Auctions Group Brings the Inaugural Auction of the David L Root Ancient Indian Artifact Collection to Global Bidders via Proxibid  Business Wire

Jack Johnson is an all star....At stocking the Penguins’ holiday auction basket - PensBurgh
Jack Johnson is an all star....At stocking the Penguins’ holiday auction basket  PensBurgh

'Art Over Easy' to feature live music, VIP reception, and auctions - SIU News
'Art Over Easy' to feature live music, VIP reception, and auctions  SIU News

Gold Coin Rarities Lead Heritage Dallas Auction to $9.5 Million Realized - CoinWeek
Gold Coin Rarities Lead Heritage Dallas Auction to $9.5 Million Realized  CoinWeek

Michigan DNR to auction off 147 parcels of public land - Detroit Free Press
Michigan DNR to auction off 147 parcels of public land  Detroit Free Press

DNR public land auction to begin Tuesday 12/10 - WILX-TV
DNR public land auction to begin Tuesday 12/10  WILX-TV

Auction for 'world's fastest UPS truck' canceled after UPS shows title - Business Insider
Auction for 'world's fastest UPS truck' canceled after UPS shows title  Business Insider

Estate in Preston Hollow goes to auction with no reserve - The Dallas Morning News
Estate in Preston Hollow goes to auction with no reserve  The Dallas Morning News

From startup to $1.5B: ACV Auctions becomes Buffalo's first 'unicorn' - Buffalo News
From startup to $1.5B: ACV Auctions becomes Buffalo's first 'unicorn'  Buffalo News

GE in Salem auctions off equipment in wake of production shutdown - Roanoke Times
GE in Salem auctions off equipment in wake of production shutdown  Roanoke Times

C-Band Auction Bill OK’d by Senate Commerce Committee - TV Technology
C-Band Auction Bill OK’d by Senate Commerce Committee  TV Technology

Drug Task Force auction canceled for Black Friday, according to DA's office - York Daily Record
Drug Task Force auction canceled for Black Friday, according to DA's office  York Daily Record

Many 1904 World's Fair items featured in auction Saturday - STLtoday.com
Many 1904 World's Fair items featured in auction Saturday  STLtoday.com

Child Safe to host inaugural dessert auction | Free - Sedalia Democrat
Child Safe to host inaugural dessert auction | Free  Sedalia Democrat

DFW company to auction off $28M worth of aircraft in rare event - Dallas Business Journal
DFW company to auction off $28M worth of aircraft in rare event  Dallas Business Journal

Farmland Auctions: A Wild Day in Southeast South Dakota - Successful Farming
Farmland Auctions: A Wild Day in Southeast South Dakota  Successful Farming

Expiry Auctions: To Write or Not Write? - DomainInvesting.com
Expiry Auctions: To Write or Not Write?  DomainInvesting.com

SEVEN Concours, Powered by Silverstone Auctions, Brings the Riyadh Car Show Auction 2019 to Global Bidders via Proxibid - Associated Press
SEVEN Concours, Powered by Silverstone Auctions, Brings the Riyadh Car Show Auction 2019 to Global Bidders via Proxibid  Associated Press

10 most expensive Disneyland items in an auction featuring 1,500 theme park collectibles - The Mercury News
10 most expensive Disneyland items in an auction featuring 1,500 theme park collectibles  The Mercury News

3 Auctions Rule Digital Advertising. Here's A Guide To Navigating Them - AdExchanger
3 Auctions Rule Digital Advertising. Here's A Guide To Navigating Them  AdExchanger

Dismal year for collector car auctions or just a return of sanity? - The ClassicCars.com Journal
Dismal year for collector car auctions or just a return of sanity?  The ClassicCars.com Journal

Silent auction held to benefit United Way | News, Sports, Jobs - Marquette Mining Journal
Silent auction held to benefit United Way | News, Sports, Jobs  Marquette Mining Journal

Bilbo Baggins' pipe up for auction by Julien's Auctions - TheOneRing.net
Bilbo Baggins' pipe up for auction by Julien's Auctions  TheOneRing.net

Cardamom auctions at Bodi receives good arrivals - BusinessLine
Cardamom auctions at Bodi receives good arrivals  BusinessLine

A lost Chagall and other rare paintings up for auction - ISRAEL21c
A lost Chagall and other rare paintings up for auction  ISRAEL21c

BRIEF-Weng Fine Art Sees H2 Sales Increase In Co's Auction Trading Business - Reuters
BRIEF-Weng Fine Art Sees H2 Sales Increase In Co's Auction Trading Business  Reuters

Duchess Meghan Markle’s Deal or No Deal Briefcase Up for Auction - Screen Rant
Duchess Meghan Markle’s Deal or No Deal Briefcase Up for Auction  Screen Rant

Glinda's 'Wizard of Oz' Test Wand, Mitzi Gaynor’s Costumes Up for Auction - Hollywood Reporter
Glinda's 'Wizard of Oz' Test Wand, Mitzi Gaynor’s Costumes Up for Auction  Hollywood Reporter

Michigan to auction 150 parcels of public land - The Detroit News
Michigan to auction 150 parcels of public land  The Detroit News

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