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Selling through Auction Marketplaces


Consumers are increasingly feeling more comfortable in buying products through the Internet. According to a report released recently by the Department of Commerce first-quarter retail sales rose 23.8 percent to US$ 19.8 billion in the United States from US$ 16 billion a year ago. E-commerce sales during the first quarter of 2005 rose 6.4 percent from the fourth quarter of last year. Forrester Research estimated that 2005 online retail sales will increase at a pace of 22 percent. Today, a third of all households in US make at least one purchase online within a year, a figure which will grow to almost 40 percent by 2009, predicts Forrester. As a seller, this strong growth of online sales means that you have to put considerable stress on your Internet sales endeavor if you are not doing this as yet.

According to statistics compiled for the Internet Retailer Top 400 Guide, the top retailers in 2004 garnered combined online sales of more than US$ 51 billion, which accounts for 58.3 percent of all US Internet sales. The growth in online sales is quite impressive for large retailers. J.C. Penny Co. Inc., for example, reported a 35 percent year-over-year rise of online sales in May, 2005. Can new online ventures boast same type of significant growth? Unfortunately, not!

Each day, there are thousands of new companies are setting up shops on the Internet trying to sell every conceivable type of products and services. Most of these websites do not attract enough visitors to make them profitable. Competition on the Internet is fierce! Internet marketing campaigns are becoming increasing expensive. Many small companies can't afford to spend money required to promote their sites. So, what are the options available for a small company with modest product range to thrive on the Internet? One of the best sales channels, in my opinion, on the Internet by far is auction marketplaces. Of course, no matter what, you will still need to promote your website with all the methods you can master. However, selling your products and services through established auction marketplaces has its own advantage.

eBay

With 63.8 million unique visitors hitting the auction site only in April of this year, eBay has established itself as the largest marketplace on earth. In 2004 alone US$ 34.2 billion worth of merchandize exchange hands on eBay. Presently, the site has around 135 million registered users in 32 markets worldwide.

With such a vast community of buyers and sellers, eBay should be your number one choice for selling your products or services online. On the eBay you can sell any kind of item. The varieties of stuffs people are selling through eBay are mind boggling! At any given time there are over 29 million items displayed on eBay. The number of new items added each day exceeds 3.5 million. However, still many offline sellers perceive eBay as an auction site for mainly collectible items. They can't be more wrong! The largest selling category on the eBay is, believe it or not, automobile and accessories, which comprises of almost 22 percent of all sales. I have, personally, bought three luxury cars over the course of last two years through eBay and I have nothing to complain about.

As a seller on the eBay, the biggest advantage that you gain is the possibility of becoming from a local merchant to an international player over night. If you are already selling merchandize to consumers online or offline, eBay gives you an additional sales channel without any extra cost. If you are planning to begin selling goods or services through the Internet, eBay allows you to start your business online quickly and with minimum expenses.

Yahoo

You may have difficulty in imagining the biggest portal on our planet as a marketplace, in some countries, like Japan and Canada, Yahoo auction is, actually, doing better than eBay. In the US market Yahoo has just announced its intention to eliminate fees charged for using its auction site. This is a good news for even many eBay power sellers. Some of them will definitely move to Yahoo in a bid to save on high fees charged by eBay. The good thing about Yahoo is slowly it is becoming a major hub for many small business web stores. As a matter of fact, according to Yahoo, every eighth online store is now hosted by Yahoo.

Amazon

Amazon, may be is not as popular as eBay or Yahoo as far as auction marketplace is concerned, however, many auctioneers claim that some of the products sell better on Amazon than any other auction marketplace.

Why should you consider selling through auction marketplaces?

Here are some reasons, why auction marketplaces are viable sales channel for businesses:

? The auction marketplaces are very popular and each of them has huge community of buyers and sellers.

? There is virtually no start-up cost involved.

? No extra overhead is required.

? You really don't have to set up a website to start selling.

? Easy to learn.

While determining what to sell through auction marketplaces, choose your products very carefully. Don't try to sell products like DVD, cellular phones and similar common items. There are way too many people are trying to sell those products. Do your research before jumping into online auctions. Go through the categories of your choice. See how your competitors are doing. Check out the listings of sold items. For how much the products you intend to list are getting sold for? What keywords your prospective competitors are using to market these products? On which auction site these products are selling better?

Go with the trend! Travel, cosmetics and jewelry sales are expected to do better than other categories of e-commerce in coming years. In every category of goods and services you will find a niche, which is doing fairly well. All you have to do is find that niche by making extensive and thorough research!

Selling through auction marketplaces like any other business process requires sound judgment and careful planning. Be sure to use them before starting your online sales.

Nowshade Kabir, is the founder, primary developer and present CEO of Rusbiz.com - a Global B2B Exchange with solutions to create e-catalog, Web store, business process management and other features to run a business online. You can read various articles written by Nowshade Kabir at http://ezine.rusbiz.com.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Wed. January / 29 / 2020

‘You’re holding half-a-million bucks!’ NFL auctions bring legendary memorabilia onto Big Game Bound - WSYR
‘You’re holding half-a-million bucks!’ NFL auctions bring legendary memorabilia onto Big Game Bound  WSYR

Shrewsbury auctions foreclosed properties, including historic colonial, totaling nearly $1 million - Community Advocate
Shrewsbury auctions foreclosed properties, including historic colonial, totaling nearly $1 million  Community Advocate

Mario Buatta Auction Shatters Estimates for Chintz - The New York Times
Mario Buatta Auction Shatters Estimates for Chintz  The New York Times

Pottawatomie County Auctions Off Classic Mustangs - news9.com KWTV
Pottawatomie County Auctions Off Classic Mustangs  news9.com KWTV

America's Top 13 Charity Wine Auctions Raised $44.1 Million in 2019 - Wine Spectator
America's Top 13 Charity Wine Auctions Raised $44.1 Million in 2019  Wine Spectator

Auction Nation Auctioning Off Thousands of Holiday Gift Returns for Pennies on the Dollar - PRNewswire
Auction Nation Auctioning Off Thousands of Holiday Gift Returns for Pennies on the Dollar  PRNewswire

You can own a piece of Southern Season as the iconic store auctions off its kitchen - Raleigh News & Observer
You can own a piece of Southern Season as the iconic store auctions off its kitchen  Raleigh News & Observer

Heavy equipment auction includes excavator, cars ... and a bounce house - Hawaii News Now
Heavy equipment auction includes excavator, cars ... and a bounce house  Hawaii News Now

Authenticated Trump signature on copy of articles of impeachment could fetch $20K in auction - USA TODAY
Authenticated Trump signature on copy of articles of impeachment could fetch $20K in auction  USA TODAY

Frank Sinatra’s gold-seated, Italian marble toilets fetch thousands at auction - WSFA
Frank Sinatra’s gold-seated, Italian marble toilets fetch thousands at auction  WSFA

Poland auctions 5.3 mln carbon permits at 24.04 euros each - EEX - Reuters Africa
Poland auctions 5.3 mln carbon permits at 24.04 euros each - EEX  Reuters Africa

More than 100 vehicles available at state surplus auction - ABC6OnYourSide.com
More than 100 vehicles available at state surplus auction  ABC6OnYourSide.com

Last minute purchase of Belfast brewery avoids public auction - WABI
Last minute purchase of Belfast brewery avoids public auction  WABI

State surplus auction, now online, starts Jan. 30 - AL.com
State surplus auction, now online, starts Jan. 30  AL.com

AuctionTime.com & Auction Flex to Host Auctioneer Forum February 5th in Alberta - Hastings Tribune
AuctionTime.com & Auction Flex to Host Auctioneer Forum February 5th in Alberta  Hastings Tribune

Mario Buatta auction nets $7.6 million, shattering estimates - Business of Home
Mario Buatta auction nets $7.6 million, shattering estimates  Business of Home

Senate C-Band Auction Bill ‘Final’ Version Introduced - Multichannel News
Senate C-Band Auction Bill ‘Final’ Version Introduced  Multichannel News

Public auction of The Bull, Wisconsin's only Jack Nicklaus Signature golf course, canceled 20 minutes before sale was set to start - Sheboygan Press
Public auction of The Bull, Wisconsin's only Jack Nicklaus Signature golf course, canceled 20 minutes before sale was set to start  Sheboygan Press

'House of Prayer' property in Micanopy is up for auction - WCJB
'House of Prayer' property in Micanopy is up for auction  WCJB

Gold-seated toilet among Frank Sinatra items up for auction - ABC News
Gold-seated toilet among Frank Sinatra items up for auction  ABC News

BTS’ Tour Microphones Sell for $83,000 at MusiCares Auction - Rolling Stone
BTS’ Tour Microphones Sell for $83,000 at MusiCares Auction  Rolling Stone

Andy Warhol’s Portrait of Muhammad Ali Could Net £5 Million at Auction - Barron's
Andy Warhol’s Portrait of Muhammad Ali Could Net £5 Million at Auction  Barron's

Leake Auctions sells $17M of vehicles in Scottsdale - AZ Big Media
Leake Auctions sells $17M of vehicles in Scottsdale  AZ Big Media

Sale prices soar past estimates at auction of decorator Mario Buatta's estate at Sotheby's - Art Newspaper
Sale prices soar past estimates at auction of decorator Mario Buatta's estate at Sotheby's  Art Newspaper

Wyatt Earp’s ‘Vendetta Ride’ Shotgun to Sell at Heritage Auctions in Dallas - NBC 5 Dallas-Fort Worth
Wyatt Earp’s ‘Vendetta Ride’ Shotgun to Sell at Heritage Auctions in Dallas  NBC 5 Dallas-Fort Worth

Online state surplus property auction set for this week - WKRG News 5
Online state surplus property auction set for this week  WKRG News 5

Online Wine Auctions: A Beginner’s Guide - Wall Street Journal
Online Wine Auctions: A Beginner’s Guide  Wall Street Journal

Three Incredible Supercars from the 2020 RM Sotheby’s Scottsdale Auctions - Forbes
Three Incredible Supercars from the 2020 RM Sotheby’s Scottsdale Auctions  Forbes

Kansas land up for auction was site of 1870s serial slayings Posted Jan 26, 2020 - hays Post
Kansas land up for auction was site of 1870s serial slayings Posted Jan 26, 2020  hays Post

Mario Buatta’s treasures bring in $7.6 million as Sotheby’s auction soars past sales estimates - The Washington Post
Mario Buatta’s treasures bring in $7.6 million as Sotheby’s auction soars past sales estimates  The Washington Post

Seven-Year Note Auction Attracts Modestly Below Average Demand - Nasdaq
Seven-Year Note Auction Attracts Modestly Below Average Demand  Nasdaq

Stolen Marc Chagall painting sells for $130,000 at auction in Israel - The Jerusalem Post
Stolen Marc Chagall painting sells for $130,000 at auction in Israel  The Jerusalem Post

To Attract Young Collectors, Auction Houses Tap Rock Stars, Sneakerheads, and a Spice Girl - Artsy
To Attract Young Collectors, Auction Houses Tap Rock Stars, Sneakerheads, and a Spice Girl  Artsy

2020 Las Vegas Motorcycle Auction Week Review - New Atlas
2020 Las Vegas Motorcycle Auction Week Review  New Atlas

K-pop band BTS's microphones fetch $83,200 at auction - Reuters
K-pop band BTS's microphones fetch $83,200 at auction  Reuters

Christie’s New ‘Accessible’ Auction Sells Big Names Starting at $100 - Observer
Christie’s New ‘Accessible’ Auction Sells Big Names Starting at $100  Observer

Audi 80 Cabriolet Once Owned by Diana, Princess of Wales, Headed to Auction - Car and Driver
Audi 80 Cabriolet Once Owned by Diana, Princess of Wales, Headed to Auction  Car and Driver

Greece says landmark 15-year bond auction successful - WTOP
Greece says landmark 15-year bond auction successful  WTOP

Humane Society Dinner & Auction set March 21 - News - Canton Daily Ledger
Humane Society Dinner & Auction set March 21 - News  Canton Daily Ledger

Japan's fifth solar auction delivers final lowest price of $0.10/kWh - pv magazine International
Japan's fifth solar auction delivers final lowest price of $0.10/kWh  pv magazine International

More than 100 vehicles up for bid at Ohio surplus auction - 13abc Action News
More than 100 vehicles up for bid at Ohio surplus auction  13abc Action News

Finnish auction house takes over Wisconsin mink trading hub - Wisconsin State Farmer
Finnish auction house takes over Wisconsin mink trading hub  Wisconsin State Farmer

Take your pick from these 25 dream machines up for auction in Paris - msnNOW
Take your pick from these 25 dream machines up for auction in Paris  msnNOW

JFK documents tied to ex-California governor sold at auction - Santa Rosa Press Democrat
JFK documents tied to ex-California governor sold at auction  Santa Rosa Press Democrat

Arizona Car Week 2020: 4 car auctions to see in the Valley this week - ABC15 Arizona
Arizona Car Week 2020: 4 car auctions to see in the Valley this week  ABC15 Arizona

Objects Returned to Benin by French Collectors Had Been Removed From a Contested Auction - Hyperallergic
Objects Returned to Benin by French Collectors Had Been Removed From a Contested Auction  Hyperallergic

Mecum Auctions kicks off annual motorcycle auction - KLAS - 8 News Now
Mecum Auctions kicks off annual motorcycle auction  KLAS - 8 News Now

Student built motorcycle to go on auction block - Black Hills Pioneer
Student built motorcycle to go on auction block  Black Hills Pioneer

New Owner of Md. Home Sold at Auction Finds Body of Previous Resident - NBC4 Washington
New Owner of Md. Home Sold at Auction Finds Body of Previous Resident  NBC4 Washington

Habitat for Humanity Birdhouse Auction Soon - ValdostaToday.com
Habitat for Humanity Birdhouse Auction Soon  ValdostaToday.com

Missouri Auto Auction names new 2nd-generation owners - Auto Remarketing
Missouri Auto Auction names new 2nd-generation owners  Auto Remarketing

Late actor Paul Walker's vehicles garner $2.33 million at Arizona auction - Reuters
Late actor Paul Walker's vehicles garner $2.33 million at Arizona auction  Reuters

Treasury borrows over $670 mln through auction - Hurriyet Daily News
Treasury borrows over $670 mln through auction  Hurriyet Daily News

Jerry Brown concerned by Sotheby's auction of his dad's rare JFK papers - POLITICO
Jerry Brown concerned by Sotheby's auction of his dad's rare JFK papers  POLITICO

Frank Sinatra auction: Gold-seated toilet, piano, clock among items from Chairman Suite at the former Golden Nugget Casino - CBS News
Frank Sinatra auction: Gold-seated toilet, piano, clock among items from Chairman Suite at the former Golden Nugget Casino  CBS News

Bipartisan Bill Would Ban Reverse Auctions for Federal Construction Contracts - GovExec.com
Bipartisan Bill Would Ban Reverse Auctions for Federal Construction Contracts  GovExec.com

Most Watched Kobe Bryant Rookie Card Auctions on eBay and Values - Sports Collectors Daily
Most Watched Kobe Bryant Rookie Card Auctions on eBay and Values  Sports Collectors Daily

Lee Harvey Oswald's Final Uncashed Paycheck, Up for Auction - TMZ
Lee Harvey Oswald's Final Uncashed Paycheck, Up for Auction  TMZ

Waseca residents partner up to host auctions for Officer Arik Matson; date set for March 14 - KEYC
Waseca residents partner up to host auctions for Officer Arik Matson; date set for March 14  KEYC

Online auctions as a means for selling seized property assets, Nikos Roussanoglou | Kathimerini - www.ekathimerini.com
Online auctions as a means for selling seized property assets, Nikos Roussanoglou | Kathimerini  www.ekathimerini.com

Donald Marron’s $450 M. Collection May Head to Auction: Report - ARTnews
Donald Marron’s $450 M. Collection May Head to Auction: Report  ARTnews

Rare '48 Tucker is just one of the million-dollar-plus cars up for auction this weekend - Yahoo Finance
Rare '48 Tucker is just one of the million-dollar-plus cars up for auction this weekend  Yahoo Finance

Lake County supervisors discuss tax defaulted land auctions - Lake County Record-Bee
Lake County supervisors discuss tax defaulted land auctions  Lake County Record-Bee

Preview: The 2020 Las Vegas Motorcycle Auctions - New Atlas
Preview: The 2020 Las Vegas Motorcycle Auctions  New Atlas

mmWave auction poised to resume, on path to $6B - FierceWireless
mmWave auction poised to resume, on path to $6B  FierceWireless

‘Mona Lisa of Mustangs,’ Raced in ‘Bullitt,’ Sets Auction Record - The New York Times
‘Mona Lisa of Mustangs,’ Raced in ‘Bullitt,’ Sets Auction Record  The New York Times

Centennial couple says the owner of a shuttered auction gallery still owes them money - The Denver Channel
Centennial couple says the owner of a shuttered auction gallery still owes them money  The Denver Channel

GI Area Habitat For Humanity Dinner/Auction KSNB - Video - KSNB Local 4
GI Area Habitat For Humanity Dinner/Auction KSNB - Video  KSNB Local 4

Squid Lips Property Goes Up for Auction - Sebastian Daily
Squid Lips Property Goes Up for Auction  Sebastian Daily

Design royalty is all atwitter about the Prince of Chintz auction - The Washington Post
Design royalty is all atwitter about the Prince of Chintz auction  The Washington Post

Solar secures just 5 MW in Italy's first 500 MW renewables auction - pv magazine International
Solar secures just 5 MW in Italy's first 500 MW renewables auction  pv magazine International

Greece starts 15-year bond auction as market rates favorable - WKMG News 6 & ClickOrlando
Greece starts 15-year bond auction as market rates favorable  WKMG News 6 & ClickOrlando

WISD to Host Auction for High Point School Items - thesuntimesnews.com
WISD to Host Auction for High Point School Items  thesuntimesnews.com

Annual art auction to go BAAC the last 30 years and into the future - Country 103.9 WRBI
Annual art auction to go BAAC the last 30 years and into the future  Country 103.9 WRBI

Thai officials accidentally auction off car loaded with amphetamine - BBC News
Thai officials accidentally auction off car loaded with amphetamine  BBC News

Basketball HOF to Auction Enshrinement Plaques of Michael Jordan, Shaq, More - Bleacher Report
Basketball HOF to Auction Enshrinement Plaques of Michael Jordan, Shaq, More  Bleacher Report

Mississippi man accused of stealing cattle from Tangipahoa auction market - The Advocate
Mississippi man accused of stealing cattle from Tangipahoa auction market  The Advocate

St. Jude Auction weekend kicks off in Minden - KTBS
St. Jude Auction weekend kicks off in Minden  KTBS

104 Vehicles Available at State Surplus Auction Saturday – WKTN- A division of Home Town Media - WKTN Radio
104 Vehicles Available at State Surplus Auction Saturday – WKTN- A division of Home Town Media  WKTN Radio

Alexander City Kiwanis Club to host annual dinner and auction - The Alexander City Outlook
Alexander City Kiwanis Club to host annual dinner and auction  The Alexander City Outlook

Prairie Warrior Auction set for March 21 | News, Sports, Jobs - Minot Daily News
Prairie Warrior Auction set for March 21 | News, Sports, Jobs  Minot Daily News

Online Auction To Benefit Lakeshore Public Schools | News/Talk 94.9 WSJM - News/Talk 94.9 WSJM
Online Auction To Benefit Lakeshore Public Schools | News/Talk 94.9 WSJM  News/Talk 94.9 WSJM

Chicago developer Hilco’s $240 million bid wins auction for bankrupt Philadelphia refinery - The Philadelphia Inquirer
Chicago developer Hilco’s $240 million bid wins auction for bankrupt Philadelphia refinery  The Philadelphia Inquirer

Phoebe Waller-Bridge Auctions Golden Globes Tuxedo on Ebay to Aid Australia Fires - Hollywood Reporter
Phoebe Waller-Bridge Auctions Golden Globes Tuxedo on Ebay to Aid Australia Fires  Hollywood Reporter

Shrewsbury auction firm schedules foreclosure auction for Framinghams Aegean Restaurant - MetroWest Daily News
Shrewsbury auction firm schedules foreclosure auction for Framinghams Aegean Restaurant  MetroWest Daily News

Muskie Booster Club Plays to Win with 30th Cake Auction - Discover Muscatine
Muskie Booster Club Plays to Win with 30th Cake Auction  Discover Muscatine

Mustang From Famed ‘Bullitt’ Car Chase Heads to Auction - The New York Times
Mustang From Famed ‘Bullitt’ Car Chase Heads to Auction  The New York Times

Japanese-Imported 1989 Mercedes-Benz 560 SEL AMG Hits RM Sotheby's Youngtimer Auction - HYPEBEAST
Japanese-Imported 1989 Mercedes-Benz 560 SEL AMG Hits RM Sotheby's Youngtimer Auction  HYPEBEAST

Hidalgo County hosting surplus auction on vehicles, equipment this weekend - KGBT-TV
Hidalgo County hosting surplus auction on vehicles, equipment this weekend  KGBT-TV

The Christie's 100 Is Its Most Accessible Auction to Date - Highsnobiety
The Christie's 100 Is Its Most Accessible Auction to Date  Highsnobiety

Mexico's president doubles down on nationalist line: no oil auctions - Reuters
Mexico's president doubles down on nationalist line: no oil auctions  Reuters

Shrewbury auction firm schedules foreclosure auction for Framinghams Aegean Restaurant - MetroWest Daily News
Shrewbury auction firm schedules foreclosure auction for Framinghams Aegean Restaurant  MetroWest Daily News

Christie’s Has Cancelled Plans for a Middle Eastern Art Auction in Dubai, Citing a Lack of Top-Quality Works - artnet News
Christie’s Has Cancelled Plans for a Middle Eastern Art Auction in Dubai, Citing a Lack of Top-Quality Works  artnet News

Sotheby's Auctions Impressionist Paintings Recovered From Nazi Looting; Watercolors by JFK Also Go to Auction - Hyperallergic
Sotheby's Auctions Impressionist Paintings Recovered From Nazi Looting; Watercolors by JFK Also Go to Auction  Hyperallergic

NBA's Sacramento Kings partner with ConsenSys to launch sports gear auctions on Ethereum - The Block Crypto
NBA's Sacramento Kings partner with ConsenSys to launch sports gear auctions on Ethereum  The Block Crypto

Lionel Train Auction Draws Bidders from Across US - businessjournaldaily.com
Lionel Train Auction Draws Bidders from Across US  businessjournaldaily.com

Heritage Charity Auction Settles with EEOC in Employment Discrimination Suit - The National Law Review
Heritage Charity Auction Settles with EEOC in Employment Discrimination Suit  The National Law Review

Hidalgo County to hold surplus auction in Mission - KGBT-TV
Hidalgo County to hold surplus auction in Mission  KGBT-TV

Vintage Ford Bronco sells for $650,000 at auction for Alzheimer’s Association - KTVI Fox 2 St. Louis
Vintage Ford Bronco sells for $650,000 at auction for Alzheimer’s Association  KTVI Fox 2 St. Louis

From an Iconic Italian Racing Bike to a Revolutionary Harley: 4 Standout Motorcycles Star at the Mecum Auctions - Robb Report
From an Iconic Italian Racing Bike to a Revolutionary Harley: 4 Standout Motorcycles Star at the Mecum Auctions  Robb Report

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