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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 Thu. April / 22 / 2021

Surplus Bank Auctions Set for Public Inspections Fri. April 23 - KPVI News 6
Surplus Bank Auctions Set for Public Inspections Fri. April 23  KPVI News 6

Love’s Bakery auctions off bread, vintage shirts - KHON2
Love’s Bakery auctions off bread, vintage shirts  KHON2

Germany expands capacity in wind, solar power auctions - Reuters
Germany expands capacity in wind, solar power auctions  Reuters

Up To $500K Expected For One As Dallas Company Auctions Prototype Of First US Dollar Coins - CBS Dallas / Fort Worth
Up To $500K Expected For One As Dallas Company Auctions Prototype Of First US Dollar Coins  CBS Dallas / Fort Worth

Auctions delayed for potential Samsung plant sites in Arizona - Austin Business Journal - Austin Business Journal
Auctions delayed for potential Samsung plant sites in Arizona - Austin Business Journal  Austin Business Journal

Faith Rodeo Club’s ‘Slave Auction’ cancelled due to social media backlash - KELOLAND.com
Faith Rodeo Club’s ‘Slave Auction’ cancelled due to social media backlash  KELOLAND.com

City of Roanoke auctions properties in bi-annual tax sale - WDBJ7
City of Roanoke auctions properties in bi-annual tax sale  WDBJ7

Yoshitomo Nara’s ‘Missing in Action’ From 2000 Heads to Auction - Barron's
Yoshitomo Nara’s ‘Missing in Action’ From 2000 Heads to Auction  Barron's

ACV Auctions co-founder Joseph Neiman talks about why he moved to Florida - Buffalo Business First - Buffalo Business First
ACV Auctions co-founder Joseph Neiman talks about why he moved to Florida - Buffalo Business First  Buffalo Business First

Faith High School Rodeo Club's 'slave auction' canceled due to controversy - Argus Leader
Faith High School Rodeo Club's 'slave auction' canceled due to controversy  Argus Leader

Auctions: Hands-On With The Ultra-Rare Patek Philippe Ref. 2523 'Eurasia Dial' Hitting The Block At Phillips - HODINKEE
Auctions: Hands-On With The Ultra-Rare Patek Philippe Ref. 2523 'Eurasia Dial' Hitting The Block At Phillips  HODINKEE

UPDATE: Faith HS Rodeo Club's 'slave auction' canceled due to controversy - Rapid City Journal
UPDATE: Faith HS Rodeo Club's 'slave auction' canceled due to controversy  Rapid City Journal

Love’s Bakery auction includes vintage aloha shirts, signs - West Hawaii Today
Love’s Bakery auction includes vintage aloha shirts, signs  West Hawaii Today

Auction Sales Top $39 Million Last Week on HiBid.com, with Rare Coins and Classic Cars Now Up for Bidding - PRNewswire
Auction Sales Top $39 Million Last Week on HiBid.com, with Rare Coins and Classic Cars Now Up for Bidding  PRNewswire

Local realtor starts auction business - The Herald
Local realtor starts auction business  The Herald

Cresting Flood of U.S. Treasury Supply May End Auction Woes - Bloomberg
Cresting Flood of U.S. Treasury Supply May End Auction Woes  Bloomberg

Chinese rarity hits auction block in May Macau auction - Coin World
Chinese rarity hits auction block in May Macau auction  Coin World

Toledo police are holding online vehicle auction - Toledo Blade
Toledo police are holding online vehicle auction  Toledo Blade

Danish carriers secure additional 5G spectrum in latest auction - RCR Wireless News
Danish carriers secure additional 5G spectrum in latest auction  RCR Wireless News

Bidding open for City of Moorhead online auction - Valley News Live
Bidding open for City of Moorhead online auction  Valley News Live

RPS hosts Relay for Life auction - PostBulletin.com
RPS hosts Relay for Life auction  PostBulletin.com

Bidder Pleads Guilty to Rigging Bids at Online Auctions for Surplus Government Equipment - Department of Justice
Bidder Pleads Guilty to Rigging Bids at Online Auctions for Surplus Government Equipment  Department of Justice

Auction to benefit Bath cat rescue - Portland Press Herald - pressherald.com
Auction to benefit Bath cat rescue - Portland Press Herald  pressherald.com

Janet Jackson puts hundreds of personal items up for auction - Daily Mail
Janet Jackson puts hundreds of personal items up for auction  Daily Mail

Cates Auction Real Estate Company Named In Late Client's Will - PRNewswire
Cates Auction Real Estate Company Named In Late Client's Will  PRNewswire

A David Bowie-owned and -signed Takamine is up for auction - Guitar World
A David Bowie-owned and -signed Takamine is up for auction  Guitar World

Analysis: Big US Treasury auctions could restart rise in yields - Reuters
Analysis: Big US Treasury auctions could restart rise in yields  Reuters

Eddie Van Halen's 1934 Ford is red hot and up for auction - Fox News
Eddie Van Halen's 1934 Ford is red hot and up for auction  Fox News

Four Rare Ferraris Hitting the Auction Block This Summer - Autoweek
Four Rare Ferraris Hitting the Auction Block This Summer  Autoweek

Maine gets more than $4M from cap and trade auctions - WABI
Maine gets more than $4M from cap and trade auctions  WABI

Brazil slashes its own take in Atapu, Sepia subsalt auction - S&P Global
Brazil slashes its own take in Atapu, Sepia subsalt auction  S&P Global

Sotheby’s Unveils First Auction Dedicated to Women Artists - Barron's
Sotheby’s Unveils First Auction Dedicated to Women Artists  Barron's

Ticket from Tiger Woods' pro debut in Milwaukee will fetch thousands at auction - Green Bay Press Gazette
Ticket from Tiger Woods' pro debut in Milwaukee will fetch thousands at auction  Green Bay Press Gazette

Q&A: George Church’s Genome Up for Auction - The Scientist
Q&A: George Church’s Genome Up for Auction  The Scientist

Local nonprofits look forward to return of auctions – Methow Valley News - Methow Valley News
Local nonprofits look forward to return of auctions – Methow Valley News  Methow Valley News

Prince William and Kate Middleton's 2013 Range Rover to sell at auction for as little as £30k - This is Money
Prince William and Kate Middleton's 2013 Range Rover to sell at auction for as little as £30k  This is Money

Youngstown Chase building gets successful bid in auction - WFMJ
Youngstown Chase building gets successful bid in auction  WFMJ

HiBid.com Auctions Surpass $50 Million Last Week; Taking Bids Now on VR Headsets, Pickup Trucks, and More - PRNewswire
HiBid.com Auctions Surpass $50 Million Last Week; Taking Bids Now on VR Headsets, Pickup Trucks, and More  PRNewswire

Iconic Classic Car Collection In Central Nebraska Up for Auction | netnebraska.org - NET Nebraska
Iconic Classic Car Collection In Central Nebraska Up for Auction | netnebraska.org  NET Nebraska

Forgotten Copy of Super Mario Bros. Sets Record at Auction - The New York Times
Forgotten Copy of Super Mario Bros. Sets Record at Auction  The New York Times

Sequim Education Foundation sets silent auction fundraiser - Peninsula Daily News
Sequim Education Foundation sets silent auction fundraiser  Peninsula Daily News

Church joins the NFT craze with plans to auction off his genome - FierceBiotech
Church joins the NFT craze with plans to auction off his genome  FierceBiotech

1991 Isdera Imperator 108i Heads to Auction Autoweek Autos - Autoweek
1991 Isdera Imperator 108i Heads to Auction Autoweek Autos  Autoweek

Northgate Mall in Durham will soon be torn down. Here’s how you can get a piece of it. - Raleigh News & Observer
Northgate Mall in Durham will soon be torn down. Here’s how you can get a piece of it.  Raleigh News & Observer

Eddie Van Halen ‘Frankenstrat’ Guitars Hit the Auction Block - Rolling Stone
Eddie Van Halen ‘Frankenstrat’ Guitars Hit the Auction Block  Rolling Stone

Parents pack Aledo ISD meeting after racist Snapchat group and slave auction flyers - WFAA.com
Parents pack Aledo ISD meeting after racist Snapchat group and slave auction flyers  WFAA.com

Sotheby's Pak Auction Yields $16.8 Million as NFT Art Boom Continues - Bloomberg
Sotheby's Pak Auction Yields $16.8 Million as NFT Art Boom Continues  Bloomberg

Ponderay Newsprint auction winner to be announced Friday - The Spokesman-Review
Ponderay Newsprint auction winner to be announced Friday  The Spokesman-Review

Def Leppard Auction Goes Inside Rick Allen's Arm Loss - Ultimate Classic Rock
Def Leppard Auction Goes Inside Rick Allen's Arm Loss  Ultimate Classic Rock

Concerts, fine arts, auction add up to busy week in Charleston - Charleston Post Courier
Concerts, fine arts, auction add up to busy week in Charleston  Charleston Post Courier

Key Auction Looms for RBI as Traders Balk at India Yields - Yahoo Finance
Key Auction Looms for RBI as Traders Balk at India Yields  Yahoo Finance

Summerville Collector's Huge Finster Angel Up For Auction Saturday - The Chattanoogan
Summerville Collector's Huge Finster Angel Up For Auction Saturday  The Chattanoogan

TREASURIES-Yields show little movement despite strong 20-year auction - Nasdaq
TREASURIES-Yields show little movement despite strong 20-year auction  Nasdaq

Google’s Secret ‘Project Bernanke’ Revealed in Texas Antitrust Case - The Wall Street Journal
Google’s Secret ‘Project Bernanke’ Revealed in Texas Antitrust Case  The Wall Street Journal

Desserts are back for the Young Life Auction - The Ely Echo
Desserts are back for the Young Life Auction  The Ely Echo

Henry Ford II’s bespoke Capri is heading up for auction - Top Gear
Henry Ford II’s bespoke Capri is heading up for auction  Top Gear

Enter the 'man cave' auction: Pinball machines, Playboys and a moa skeleton all up for sale - Stuff.co.nz
Enter the 'man cave' auction: Pinball machines, Playboys and a moa skeleton all up for sale  Stuff.co.nz

ACV Auctions Rises 25% in Debut After $414 Million IPO - Bloomberg
ACV Auctions Rises 25% in Debut After $414 Million IPO  Bloomberg

Bat Used by Lou Gehrig in 1938 Sells at Auction for $715,120 - The New York Times
Bat Used by Lou Gehrig in 1938 Sells at Auction for $715,120  The New York Times

This Pile of Twisted Metal at a Salvage Auction Used to Be a 2005 Ford GT - The Drive
This Pile of Twisted Metal at a Salvage Auction Used to Be a 2005 Ford GT  The Drive

JPD evidence vault items, seized vehicles up for auction - WAPT Jackson
JPD evidence vault items, seized vehicles up for auction  WAPT Jackson

HPU’s Baptist Student Ministry to host art auction fundraiser for Go Now Missions - Brownwood Bulletin
HPU’s Baptist Student Ministry to host art auction fundraiser for Go Now Missions  Brownwood Bulletin

Hopkinsville Rotary Auction Continuing Strong Pace - wkdzradio.com
Hopkinsville Rotary Auction Continuing Strong Pace  wkdzradio.com

San Diego County has 279 properties up for auction. Here's the list - CBS News 8
San Diego County has 279 properties up for auction. Here's the list  CBS News 8

Marin's largest remaining undeveloped waterfront residential property headed to auction - SFGate
Marin's largest remaining undeveloped waterfront residential property headed to auction  SFGate

Used car dealers sue over alleged 'shill bidding' in ACV's auctions - Buffalo News
Used car dealers sue over alleged 'shill bidding' in ACV's auctions  Buffalo News

Prototype of first US dollar coin may sell for $500,000 at auction - WGMD Radio
Prototype of first US dollar coin may sell for $500,000 at auction  WGMD Radio

Wichita Mountains Wildlife Refuge holding 78th annual Longhorn Cattle Auction - KSWO
Wichita Mountains Wildlife Refuge holding 78th annual Longhorn Cattle Auction  KSWO

Baseball Cards Go Crypto as Auction Houses Warm to New Currency - Bloomberg
Baseball Cards Go Crypto as Auction Houses Warm to New Currency  Bloomberg

Bid On The Bluegrass: Online auction to benefit Thoroughbred Charities of America - EQUUS Magazine
Bid On The Bluegrass: Online auction to benefit Thoroughbred Charities of America  EQUUS Magazine

Ritchie Bros. keeps rolling with US$55+ million regional auction in Northeast US - PRNewswire
Ritchie Bros. keeps rolling with US$55+ million regional auction in Northeast US  PRNewswire

Want to Own the Ocean? Now You Can: Moen Launches NFT Auction to Help Combat Ocean Plastic Pollution - News-Herald.com
Want to Own the Ocean? Now You Can: Moen Launches NFT Auction to Help Combat Ocean Plastic Pollution  News-Herald.com

Online Onion Seller Rises from Domain Auction - Practical Ecommerce
Online Onion Seller Rises from Domain Auction  Practical Ecommerce

Florida to hold online auction to sell unclaimed property - Wink News - Wink News
Florida to hold online auction to sell unclaimed property - Wink News  Wink News

Elida schools to auction elementary school equipment - LimaOhio.com
Elida schools to auction elementary school equipment  LimaOhio.com

BigIron Auctions to Host Classic Car and Motorcycle Auction Featuring Chevyland USA Inventory - GlobeNewswire
BigIron Auctions to Host Classic Car and Motorcycle Auction Featuring Chevyland USA Inventory  GlobeNewswire

Beverly Park mansion sells at auction for record $51 million - Los Angeles Times
Beverly Park mansion sells at auction for record $51 million  Los Angeles Times

Arts for All Amazing April Auction Raises Money for Scholarship Program and Studio Classes - 9 & 10 News - 9&10 News
Arts for All Amazing April Auction Raises Money for Scholarship Program and Studio Classes - 9 & 10 News  9&10 News

Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest - PRNewswire
Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest  PRNewswire

St. Albert Auction offers myriad of merchandise - The Daily Nonpareil
St. Albert Auction offers myriad of merchandise  The Daily Nonpareil

Mount St. Charles auction fundraiser begins May 8 - Valley Breeze
Mount St. Charles auction fundraiser begins May 8  Valley Breeze

Matthew Tkachuk of Calgary Flames is first NHL player to release NFT, will auction it off for charity - ESPN
Matthew Tkachuk of Calgary Flames is first NHL player to release NFT, will auction it off for charity  ESPN

Minor League Baseball Team To Auction Off Naming Rights To Its Stadium For Individual Games - Forbes
Minor League Baseball Team To Auction Off Naming Rights To Its Stadium For Individual Games  Forbes

Get your garden going with Williamsburg Garden Club’s annual plant auction - The Clermont Sun
Get your garden going with Williamsburg Garden Club’s annual plant auction  The Clermont Sun

Lionel train collection chugs into EJ's Auction & Appraisal - Glendale Star
Lionel train collection chugs into EJ's Auction & Appraisal  Glendale Star

Auctions with authenticity | Morrison County Record - ECM Publishers
Auctions with authenticity | Morrison County Record  ECM Publishers

Parents of Aledo ISD boys in 'slave auction' Snapchat speak out at school board meeting - FOX 4 Dallas
Parents of Aledo ISD boys in 'slave auction' Snapchat speak out at school board meeting  FOX 4 Dallas

Auction for rare Honus Wagner baseball card already hits $110000 - TribLIVE
Auction for rare Honus Wagner baseball card already hits $110000  TribLIVE

Timberwolves, Lynx host online auction for Daunte Wright's family - KSTP
Timberwolves, Lynx host online auction for Daunte Wright's family  KSTP

Possible Caravaggio Is Withdrawn From Auction; Spain Announces Export Ban - The New York Times
Possible Caravaggio Is Withdrawn From Auction; Spain Announces Export Ban  The New York Times

EXCLUSIVE PHOTO & VIDEO TOUR: Heritage Auctions' "Art of the Disney Theme Park" Lets Bidders Take Home a Piece of Walt Disney World History - wdwnt.com
EXCLUSIVE PHOTO & VIDEO TOUR: Heritage Auctions' "Art of the Disney Theme Park" Lets Bidders Take Home a Piece of Walt Disney World History  wdwnt.com

ACTION AUCTIONS GREENSBORO, NC APRIL 10, 2021 | Auction Sales - Greensboro News & Record
ACTION AUCTIONS GREENSBORO, NC APRIL 10, 2021 | Auction Sales  Greensboro News & Record

1972 Chevy Vega Wagon With Just 32 Original Miles Headed To Auction - GM Authority
1972 Chevy Vega Wagon With Just 32 Original Miles Headed To Auction  GM Authority

You Can Bid on Art by Top Interior Designers in This Virtual Auction - HouseBeautiful.com
You Can Bid on Art by Top Interior Designers in This Virtual Auction  HouseBeautiful.com

Edward Snowden's NFT sold for $5.5 million at auction for charity - Engadget
Edward Snowden's NFT sold for $5.5 million at auction for charity  Engadget

Former McKinley, Worthington elementary buildings headed to auction - WTAP-TV
Former McKinley, Worthington elementary buildings headed to auction  WTAP-TV

Auction brings Hall of Famer Ted Williams to NFT market - The Associated Press
Auction brings Hall of Famer Ted Williams to NFT market  The Associated Press

Paterson moves to auction off 2-acre Leader Dye factory site - Paterson Times
Paterson moves to auction off 2-acre Leader Dye factory site  Paterson Times

Norman woman organizing sale, auction, walk in memory of son - Seymour Tribune
Norman woman organizing sale, auction, walk in memory of son  Seymour Tribune

Local owners put Nomar Theater up for auction - KSN-TV
Local owners put Nomar Theater up for auction  KSN-TV

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