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Smart Ways Your Business Can Benefit From Online Auctions


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.

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TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Tue. June / 02 / 2020

Hong Kong Live Auctions Star Liu Ye and Sanyu - Barron's
Hong Kong Live Auctions Star Liu Ye and Sanyu  Barron's

Pressler Auction | Auctions - Kearney Hub
Pressler Auction | Auctions  Kearney Hub

Auction Service Offers 90% Savings On Brand New Inventory - Yahoo Finance
Auction Service Offers 90% Savings On Brand New Inventory  Yahoo Finance

Innovative Racehorse Auction Company Wanamaker's Launched by Young Industry Professionals - America's Best Racing
Innovative Racehorse Auction Company Wanamaker's Launched by Young Industry Professionals  America's Best Racing

Small auction house won't let the coronavirus stop the bidding - DW (English)
Small auction house won't let the coronavirus stop the bidding  DW (English)

US scraps over 10,000 acres of oil auctions amid Covid-19 uncertainty - Offshore Technology
US scraps over 10,000 acres of oil auctions amid Covid-19 uncertainty  Offshore Technology

Impact of COVID-19 on Renewable Energy Auctions - Energy Industry Review
Impact of COVID-19 on Renewable Energy Auctions  Energy Industry Review

With Remote Bid app, investors can bid on select foreclosure auction properties from any location - HousingWire
With Remote Bid app, investors can bid on select foreclosure auction properties from any location  HousingWire

The Batwoman Turkish Poster Could be Yours From Heritage Auctions! - Bleeding Cool News
The Batwoman Turkish Poster Could be Yours From Heritage Auctions!  Bleeding Cool News

Covid-19 impact: Trump admin postpones 2 auctions on oil and gas lease sale - Business Standard
Covid-19 impact: Trump admin postpones 2 auctions on oil and gas lease sale  Business Standard

New GM for Columbus Fair Auto Auction - Auto Remarketing
New GM for Columbus Fair Auto Auction  Auto Remarketing

Gail Simone auctions George Perez art for Black Lives Matter - Comics Beat
Gail Simone auctions George Perez art for Black Lives Matter  Comics Beat

Floor Brokers and D Orders Add Value to Auction Process - Traders Magazine
Floor Brokers and D Orders Add Value to Auction Process  Traders Magazine

Michael Jordan love letter to Amy Hunter sells for $25,000 at auction - Insider - INSIDER
Michael Jordan love letter to Amy Hunter sells for $25,000 at auction - Insider  INSIDER

Online Auctions, Sidewalk Concerts and Virtual Tours - The Wall Street Journal
Online Auctions, Sidewalk Concerts and Virtual Tours  The Wall Street Journal

Outdoor storage sheds, other items being sold at auction in Woodtex bankruptcy - PRNewswire
Outdoor storage sheds, other items being sold at auction in Woodtex bankruptcy  PRNewswire

Colombia enlists ports in quest to equip renewable auction winners - PV-Tech
Colombia enlists ports in quest to equip renewable auction winners  PV-Tech

HiBid.com Offers One-Stop Portal For Boat & Yacht Auctions - Yahoo Finance
HiBid.com Offers One-Stop Portal For Boat & Yacht Auctions  Yahoo Finance

Bid now: "MKE Pride Party Pack" online auction supports bartenders, servers - OnMilwaukee.com
Bid now: "MKE Pride Party Pack" online auction supports bartenders, servers  OnMilwaukee.com

Sale draws nearly 800 people to livestock auction | COVID-19 - Parsons Sun
Sale draws nearly 800 people to livestock auction | COVID-19  Parsons Sun

Months after installing a sticker sign, Idaho plans to auction it off - KTVB.com
Months after installing a sticker sign, Idaho plans to auction it off  KTVB.com

XFL moves toward an August auction - NBCSports.com
XFL moves toward an August auction  NBCSports.com

College Campuses to Be Liquidated at Public Auction - PRNewswire
College Campuses to Be Liquidated at Public Auction  PRNewswire

Online auctions are up, up, UP - Desert Sun
Online auctions are up, up, UP  Desert Sun

Luxury Daily - Luxury Daily
Luxury Daily  Luxury Daily

Manheim's Physical Auto Auctions Could Go Away - Ward's Auto
Manheim's Physical Auto Auctions Could Go Away  Ward's Auto

Jun 2 | Online Auction | Meriden, CT Patch - Patch.com
Jun 2 | Online Auction | Meriden, CT Patch  Patch.com

Auction industry readies for COVID-19 business closures - Marketplace
Auction industry readies for COVID-19 business closures  Marketplace

Auto auctions take cautious, detailed approach to reopen in-person sales - Auto Remarketing
Auto auctions take cautious, detailed approach to reopen in-person sales  Auto Remarketing

Coal block auctions and the CAG effect - The New Indian Express
Coal block auctions and the CAG effect  The New Indian Express

Online auction for New Canaan restaurants surpasses goal - New Canaan Advertiser
Online auction for New Canaan restaurants surpasses goal  New Canaan Advertiser

Earlywine Auctions offers first virtual estate auction for family - Kokomo Perspective
Earlywine Auctions offers first virtual estate auction for family  Kokomo Perspective

Three Multimillion-Dollar Homes in Aspen, Colorado, Are up for Auction Online - Mansion Global
Three Multimillion-Dollar Homes in Aspen, Colorado, Are up for Auction Online  Mansion Global

Abell Auction Co. Expands June 14 Sale to Feature Important Jewelry, Fine Art and Antiques From Prominent California Estates - The Baytown Sun
Abell Auction Co. Expands June 14 Sale to Feature Important Jewelry, Fine Art and Antiques From Prominent California Estates  The Baytown Sun

JGBs fall as 10-year debt auction draws lukewarm demand - Financial Post
JGBs fall as 10-year debt auction draws lukewarm demand  Financial Post

Auction Houses Report Success in Online Shift - Barron's
Auction Houses Report Success in Online Shift  Barron's

First Printing of 'The Star-Spangled Banner' Goes To Auction At A Fraught Time - WBUR
First Printing of 'The Star-Spangled Banner' Goes To Auction At A Fraught Time  WBUR

CHESTNUT RIDGE RESORT TO BE SOLD AT AUCTION - wccsradio.com
CHESTNUT RIDGE RESORT TO BE SOLD AT AUCTION  wccsradio.com

Pristine 2020 Porsche 935 With Zero Miles up for Auction - HYPEBEAST
Pristine 2020 Porsche 935 With Zero Miles up for Auction  HYPEBEAST

Toyota donates last F1 car to COVID-19 charity auction - Motorsport.com
Toyota donates last F1 car to COVID-19 charity auction  Motorsport.com

Italy's second renewables auction secures lowest price of €0.056/kWh - pv magazine International
Italy's second renewables auction secures lowest price of €0.056/kWh  pv magazine International

Auction sales volume continues to climb - Auto Remarketing
Auction sales volume continues to climb  Auto Remarketing

Good Works: Argonaut rare whiskey auction nets $20K, Delta Dental touts $30M relief package - Denver Business Journal
Good Works: Argonaut rare whiskey auction nets $20K, Delta Dental touts $30M relief package  Denver Business Journal

Leake Auctions Cancels June Tulsa Auction - duPont REGISTRY DAILY
Leake Auctions Cancels June Tulsa Auction  duPont REGISTRY DAILY

Ocean Institute to Hold Auction for Pilgrim Artifacts - Dana Point Times
Ocean Institute to Hold Auction for Pilgrim Artifacts  Dana Point Times

Livestock auction leads to positive COVID-19 cases in Jackson County - Huntington Herald Dispatch
Livestock auction leads to positive COVID-19 cases in Jackson County  Huntington Herald Dispatch

Notes: Trout Gem Coming to Auction; Thriving Market; Shop Burglary; Blake Jamieson with MLB.com; Forum's... - Sports Collectors Daily
Notes: Trout Gem Coming to Auction; Thriving Market; Shop Burglary; Blake Jamieson with MLB.com; Forum's...  Sports Collectors Daily

Rare Books &c. at Auction This Week - Fine Books & Collections Magazine
Rare Books &c. at Auction This Week  Fine Books & Collections Magazine

Kraft auctions off Super Bowl ring for more than $1 million - NBCSports.com
Kraft auctions off Super Bowl ring for more than $1 million  NBCSports.com

How I Bid: One Collector's Approach To Buying At Watch Auctions - Reprise - Quill & Pad
How I Bid: One Collector's Approach To Buying At Watch Auctions - Reprise  Quill & Pad

Salt Lake City fleet to participate in timed online TNT Auctions throughout May & June - KUTV 2News
Salt Lake City fleet to participate in timed online TNT Auctions throughout May & June  KUTV 2News

German auction house sells historic Medal of Honor despite US opposition - Military Times
German auction house sells historic Medal of Honor despite US opposition  Military Times

Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record - Yahoo Sports
Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record  Yahoo Sports

Michael Jordan Custom Game-Worn Air Jordans Hit Auction, Could Fetch $500k - TMZ
Michael Jordan Custom Game-Worn Air Jordans Hit Auction, Could Fetch $500k  TMZ

South African rugby legend Montgomery auctions off World Cup jersey - Insidethegames.biz
South African rugby legend Montgomery auctions off World Cup jersey  Insidethegames.biz

NZD traders - heads up for the GDT dairy auction coming up Tuesday - ForexLive
NZD traders - heads up for the GDT dairy auction coming up Tuesday  ForexLive

Ted Cruz slams sale of Irishman's medal of honor at German auction house - IrishCentral
Ted Cruz slams sale of Irishman's medal of honor at German auction house  IrishCentral

Pier 1 to wind down biz ahead of July asset auction - Home Textiles Today
Pier 1 to wind down biz ahead of July asset auction  Home Textiles Today

BizBeat: J Street Vintage thrives through online auctions - Jefferson City News Tribune
BizBeat: J Street Vintage thrives through online auctions  Jefferson City News Tribune

'Exceedingly rare' cognac from 1762 fetches $146,000 at auction - CNN International
'Exceedingly rare' cognac from 1762 fetches $146,000 at auction  CNN International

Auction reaches Assam’s ‘tea capital’ Jorhat after almost two centuries - The Hindu
Auction reaches Assam’s ‘tea capital’ Jorhat after almost two centuries  The Hindu

Grafton's Apple Tree Arts launches “Conversation with An Artist” Auction - Community Advocate
Grafton's Apple Tree Arts launches “Conversation with An Artist” Auction  Community Advocate

Christie’s Gets Creative for 20th-Century Art Auction in July - The New York Times
Christie’s Gets Creative for 20th-Century Art Auction in July  The New York Times

Auction of Alamo battle relics and Republic of Texas documents takes place June 6 - Benzinga
Auction of Alamo battle relics and Republic of Texas documents takes place June 6  Benzinga

28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction - Forbes
28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction  Forbes

Brazil launches 2 mining auction notices - BNamericas English
Brazil launches 2 mining auction notices  BNamericas English

James Halliday to auction 250 bottles of DRC from private cellar - The Drinks Business
James Halliday to auction 250 bottles of DRC from private cellar  The Drinks Business

NOTICE OF AUCTION IN ACCORDANCE | Legal Announcements - Maryville Daily Times
NOTICE OF AUCTION IN ACCORDANCE | Legal Announcements  Maryville Daily Times

Buying Real Estate at Auction - Think Realty
Buying Real Estate at Auction  Think Realty

Rotary Club cancels annual auction - Boothbay Register
Rotary Club cancels annual auction  Boothbay Register

BMW Charity Pro-Am holding auction to benefit area charities even though golf tournament canceled - FOX Carolina
BMW Charity Pro-Am holding auction to benefit area charities even though golf tournament canceled  FOX Carolina

Phillips To Hold Cross-Category Online Auction Of Watches, Jewels And Art - Forbes
Phillips To Hold Cross-Category Online Auction Of Watches, Jewels And Art  Forbes

Mike, Tracy Murchison Launch Online Auction To Benefit Meals On Wheels, Education Foundation - Gazette Newspapers
Mike, Tracy Murchison Launch Online Auction To Benefit Meals On Wheels, Education Foundation  Gazette Newspapers

Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge - ESPN
Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge  ESPN

Mark Bautista auctions paintings to raise funds for mass testing amid COVID-19 - INQUIRER.net
Mark Bautista auctions paintings to raise funds for mass testing amid COVID-19  INQUIRER.net

Saugerties auction shut down for violating non-essential businesses ban - Hudson Valley One
Saugerties auction shut down for violating non-essential businesses ban  Hudson Valley One

Barstool's Dave Portnoy rips Roger Goodell, NFL for blocking auction win: 'He's a coward' - Fox Business
Barstool's Dave Portnoy rips Roger Goodell, NFL for blocking auction win: 'He's a coward'  Fox Business

Enrollment numbers up, scholarship auction successful - Leavenworth Times
Enrollment numbers up, scholarship auction successful  Leavenworth Times

World War II surrender documents head to auction - Outlook India
World War II surrender documents head to auction  Outlook India

High-octane: Petroliana auction does $1.2 million in sales - The ClassicCars.com Journal
High-octane: Petroliana auction does $1.2 million in sales  The ClassicCars.com Journal

Leake Auctions cancels its Tulsa collector car sale - The ClassicCars.com Journal
Leake Auctions cancels its Tulsa collector car sale  The ClassicCars.com Journal

Price of Hokkaido melons at season's 1st auction drops sharply - Kyodo News Plus
Price of Hokkaido melons at season's 1st auction drops sharply  Kyodo News Plus

First designated Idaho sticker sign up for auction - KMVT
First designated Idaho sticker sign up for auction  KMVT

Auction Houses Attract Collectors with Private Sales for Three Key Reasons - Artsy
Auction Houses Attract Collectors with Private Sales for Three Key Reasons  Artsy

Two Significant Joan Mitchell Paintings Hit the Auction Block This Summer - Observer
Two Significant Joan Mitchell Paintings Hit the Auction Block This Summer  Observer

ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions - Thoroughbred Daily News
ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions  Thoroughbred Daily News

1934 Alvis tops H&H Classics online auction - The ClassicCars.com Journal
1934 Alvis tops H&H Classics online auction  The ClassicCars.com Journal

James Halliday to auction 250 bottles of DRC wines from his private cellar - decanter.com
James Halliday to auction 250 bottles of DRC wines from his private cellar  decanter.com

Artists Who Share auction to benefit Lake Street Business Assoc - Patch.com
Artists Who Share auction to benefit Lake Street Business Assoc  Patch.com

Mansion Global Daily: London's Pre-Pandemic Price Boom, Sydney’s Weekly Auctions Are Picking Up and More - Mansion Global
Mansion Global Daily: London's Pre-Pandemic Price Boom, Sydney’s Weekly Auctions Are Picking Up and More  Mansion Global

Iowa Weekly Cattle Auction Summary | Livestock Markets | hpj.com - High Plains Journal
Iowa Weekly Cattle Auction Summary | Livestock Markets | hpj.com  High Plains Journal

Barrett-Jackson brings in a big haul with online-only auto auction - New York Business Journal
Barrett-Jackson brings in a big haul with online-only auto auction  New York Business Journal

Sotheby’s Auctions Michael Jordan Game-Worn Sneakers From 1985 - Yahoo News Australia
Sotheby’s Auctions Michael Jordan Game-Worn Sneakers From 1985  Yahoo News Australia

Power Exchanges start real-time electricity market with 48 auctions a day - Business Standard
Power Exchanges start real-time electricity market with 48 auctions a day  Business Standard

Indonesia raises 24.35 trillion rupiah from debt auction, above target - Marketscreener.com
Indonesia raises 24.35 trillion rupiah from debt auction, above target  Marketscreener.com

Coronavirus in NYC: USHG Auctions Weekend with HGTV’s Chop and Joanna Gaines - Eater NY
Coronavirus in NYC: USHG Auctions Weekend with HGTV’s Chop and Joanna Gaines  Eater NY

A 2020 Porsche 935 is already up for auction, and it has zero miles - Autoblog
A 2020 Porsche 935 is already up for auction, and it has zero miles  Autoblog

On the auction block with LaDon and Allen Henslin - Pipestone County Star
On the auction block with LaDon and Allen Henslin  Pipestone County Star

One Thousand Museum Unit in Miami Heads to Auction With No Minimum - GlobeSt.com
One Thousand Museum Unit in Miami Heads to Auction With No Minimum  GlobeSt.com

Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction - Barron's
Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction  Barron's

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