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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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like you. To find out the best online business opportunities,
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marketing secrets, plus FREE internet marketing products
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TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Thu. January / 18 / 2018

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Nykredit's and Totalkredit's auctions for 1 April 2018 refinancing - GlobeNewswire (press release)

Nykredit's and Totalkredit's auctions for 1 April 2018 refinancing
GlobeNewswire (press release)
The Nykredit Group conducts auctions in the period from Monday 5 February to Friday 9 February 2018. The auctions will comprise refinancing of adjustable-rate mortgages (”Tilpasningslån”) in DKK and EUR. The Nykredit Group currently expects to sell ...

and more »

Nykredit's and Totalkredit's auctions for 1 April 2018 refinancing - GlobeNewswire (press release)

Nykredit's and Totalkredit's auctions for 1 April 2018 refinancing
GlobeNewswire (press release)
The Nykredit Group conducts auctions in the period from Monday 5 February to Friday 9 February 2018. The auctions will comprise refinancing of adjustable-rate mortgages (”Tilpasningslån”) in DKK and EUR. The Nykredit Group currently expects to sell ...

and more »

KAR Auction Services (NYSE:KAR) Rating Lowered to Hold at Zacks Investment Research - Dispatch Tribunal

KAR Auction Services (NYSE:KAR) Rating Lowered to Hold at Zacks Investment Research
Dispatch Tribunal
According to Zacks, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car ...

and more »

What Bob wants at Russo and Steele's Scottsdale auction - The ClassicCars.com Journal (blog)

The ClassicCars.com Journal (blog)

What Bob wants at Russo and Steele's Scottsdale auction
The ClassicCars.com Journal (blog)
By far the most-dramatic and action-packed collector car sale of Arizona Auction Week, Russo and Steele has grown into its new-and-improved location at Salt River Fields in Scottsdale (technically, the big sports complex is part of the Salt River Pima ...


Auctioneering firm launches bidding service for househunters on the web - Connacht Tribune Group

Auctioneering firm launches bidding service for househunters on the web
Connacht Tribune Group
O'Donnellan & Joyce are adding an online bidding system for their 'Wild Atlantic Way' property auctions. Their first property auction of the year will launch on February 1, with the auction itself taking place on Thursday, March 1. It will coincide ...


IPL Auction 2018: Andre Russell, Yuzvendra Chahal and others who hit the roof at bargain prices - Firstpost

Firstpost

IPL Auction 2018: Andre Russell, Yuzvendra Chahal and others who hit the roof at bargain prices
Firstpost
The Rajasthan Royals bought him for just Rs 50 lakh in the auction of the inaugural edition in 2008. He was adjudged the 'Player of the Series' for his all-round contributions to the Royals' title-winning campaign. He scored 472 runs with the bat and ...

and more »

Auctions a fear for nearly 1 in 5 buyers - Smart Property Investment

Smart Property Investment

Auctions a fear for nearly 1 in 5 buyers
Smart Property Investment
Almost one in five Australians are afraid of buying or selling properties via auctions, according to a new study. A survey of 2,017 Australians conducted by finder.com.au found that while 60 per cent of respondents had “no opinion” on home auctions ...


Bill picks six European beauties from Gooding's Scottsdale auction - The ClassicCars.com Journal (blog)

The ClassicCars.com Journal (blog)

Bill picks six European beauties from Gooding's Scottsdale auction
The ClassicCars.com Journal (blog)
Among the diverse landscape of auction companies vying for buyers this week in Arizona, Gooding and Company's annual auction held January 19-20 at Scottsdale Fashion Square combines the traits of a distinguished European auction house with California ...


Eureka flag seller owed $20,000 after auction house Mossgreen ... - The Age

The Age

Eureka flag seller owed $20,000 after auction house Mossgreen ...
The Age
The former owner of a remnant of the Eureka Flag has been left unpaid after the financial collapse of the auction house handling its sale. Adrian Millane inherited the piece of the flag from his grandmother Gertrude Hanlon. It was reportedly given to ...

and more »

Cboe approval shakes up stock market's closing auction - Financial Times

Financial Times

Cboe approval shakes up stock market's closing auction
Financial Times
Regulators have given Cboe Global Markets approval to create an alternative to closing auctions for the US stock market, in a victory for the exchange that could shake up one of the most important moments in the trading day. The decision by the ...

and more »

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