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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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Get a steal of a deal from home with Windsor police auctions online
Yahoo News Canada (blog)
The service is moving its auctions online, through a partnership with Police Auctions Canada and GovDeals.com. "We make every effort possible to return these lost or stolen items that we've recovered in investigations," explained Const. Andy Drouillard ...
Steve Jobs pre-Apple job application auctions for $174000
LOS ANGELES: A one-page job application filled out by Steve Jobs more than four decades ago that reflected the Apple founder's technology aspirations sold for $174,000 at a US auction, more than three times its presale estimate. An Internet ...
Depreciating trend continues at Australian wool auctions
Additionally, it seems having the major buyer of wool globally basically out of action for a week whilst wool auctions forged ahead regardless probably didn't help either, AWI said. Access to finance is an issue that all would understand. Put simply ...
Latecomer snaps up Mt Waverley home as more properties pass in
THE once-hot Mt Waverley market is seeing more buyers hold back at auctions and allowing properties to pass in. Local agents said more properties are being sold in post-auction negotiations. Ming Haw Lim. Herald SunMarch 17, 20185:30pm. 5 Norray Ave ...
Auction Preview – Analytical Insights – Sotheby's New York : Modern & Contemporary South Asian Art – March 19, 2018
The Modern & Contemporary South Asian Art auction on March 19 in New York will feature masterworks from the 19th, 20th and 21st centuries. Some of the most important and avant-garde artists from India and the subcontinent will be represented, including ...
Hotelier Louis Fitzgerald pays €37k for portraits of 13 taoisigh
One of the busiest weeks ever in Irish salerooms saw a flurry of auctions at locations throughout the country with over 8,000 lots going under the hammer. While there were no record prices, there was strong demand and over 6,000 lots were sold. The top ...
Auctions & Fairs: Autographed Ledwidge manuscript for auction in London
Auction Results. Wednesday (March 14th) Sotheby's, London. The Political Cartoon Collection of Jeffrey Archer. Among lots of Irish interest were: Lot 9, a pencil-drawn cartoon by the illustrator Sir John Tenniel that appeared in Punch magazine ...
Brisbane auctions: Couple sell family home to the same people twice, 10 years apart
There's no 'this is the old and this is the new'. The styles meld together brilliantly,” she said. “People really like a bit of character in their homes rather than something that's more contemporary.” Family home: 37 Kapunda Street, Toowong sold under ...
Millions of Australians have gone to auctions finance free
“You could do it on the Saturday morning of the auction if you wanted to,” he said. “The service allows customers going to our website to find a house they like, see if they can afford to buy it and apply for a home loan there and then.” “It allows you ...
Jamestown Post Journal
Library Board Accepts Post-Auction Art Bid
Jamestown Post Journal
During the February auction, the painting by Perrault was the only one of 15 that didn't sell. It was estimated last month that the painting would sell for $30,000 to $50,000. Including the sale of the painting the board approved Thursday, 28 of the 33 ...
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