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Online Auctions: 5 Ways Your Business Can Benefit From Online Auctions


Online auctions are now the new gold rush on the internet.

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.

May you succeed in your online auctions and make a lot of money.

Warmly,

I-key Benney, CEO

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TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Wed. August / 12 / 2020

HiBid.com Auctions Topped $33.6 Million In Record-Breaking Week; Rare Coins, Jewelry, Home Goods & More Up For Sale - News-Press Now
HiBid.com Auctions Topped $33.6 Million In Record-Breaking Week; Rare Coins, Jewelry, Home Goods & More Up For Sale  News-Press Now

Brunk Auctions to Offer William N. Bank’s Historic Collection - Barron's
Brunk Auctions to Offer William N. Bank’s Historic Collection  Barron's

Halliburton Surplus Real Estate Auctions Set for Oct - PRNewswire
Halliburton Surplus Real Estate Auctions Set for Oct  PRNewswire

L.A. Rockler Fur Company begins auctions of remaining garments - Southernminn.com
L.A. Rockler Fur Company begins auctions of remaining garments  Southernminn.com

‘Willamette: The Pinot Noir Auction’ Goes Online For The First Time In 2020 - Forbes
‘Willamette: The Pinot Noir Auction’ Goes Online For The First Time In 2020  Forbes

Clemente rookie card, 1900 Wagner team photo up for auction - TribLIVE
Clemente rookie card, 1900 Wagner team photo up for auction  TribLIVE

NamesCon Auction Now Live on GoDaddy Auctions - DomainInvesting.com
NamesCon Auction Now Live on GoDaddy Auctions  DomainInvesting.com

Hospitality "Hope Survives" Luncheon, Auction Goes Virtual - Go Blue Ridge
Hospitality "Hope Survives" Luncheon, Auction Goes Virtual  Go Blue Ridge

Namibia Auctions Fishing Rights to Raise Money for Virus - Bloomberg
Namibia Auctions Fishing Rights to Raise Money for Virus  Bloomberg

PRG's Annual Equipment Auction to be Held Online - PRNewswire
PRG's Annual Equipment Auction to be Held Online  PRNewswire

Faraday Future FF 91 Pikes Peak Prototype up for Auction - Motor Trend
Faraday Future FF 91 Pikes Peak Prototype up for Auction  Motor Trend

Hinson leaves mark on auctions, county - The Stanly News & Press - Stanly News & Press
Hinson leaves mark on auctions, county - The Stanly News & Press  Stanly News & Press

A drive-thru gala? Welcome to the new world of nonprofit fundraisers - The Mercury News
A drive-thru gala? Welcome to the new world of nonprofit fundraisers  The Mercury News

With $2.7B in proceeds, CBRS auction showing 'unusual' activity - Light Reading
With $2.7B in proceeds, CBRS auction showing 'unusual' activity  Light Reading

Ballard Food Bank's 'Helpings for Hope' auction goes virtual - My Ballard
Ballard Food Bank's 'Helpings for Hope' auction goes virtual  My Ballard

Jimi Hendrix’s Early Sixties Guitar Sells for $216,000 at Auction - Rolling Stone
Jimi Hendrix’s Early Sixties Guitar Sells for $216,000 at Auction  Rolling Stone

Trump administration announces major midband spectrum auction for 5G - TechCrunch
Trump administration announces major midband spectrum auction for 5G  TechCrunch

Brazil mulls reverse auctions, subsidies to expand connectivity in the Amazon - BNamericas English
Brazil mulls reverse auctions, subsidies to expand connectivity in the Amazon  BNamericas English

'Holy Grail of All Dollars' Could Fetch $10M at Auction - Newser
'Holy Grail of All Dollars' Could Fetch $10M at Auction  Newser

PALs auction: $3 billion and counting - RCR Wireless News
PALs auction: $3 billion and counting  RCR Wireless News

White Star Auction is up for sale - Sturgis Journal
White Star Auction is up for sale  Sturgis Journal

Brooks Brothers Heads Toward Sale Auction – WWD - WWD
Brooks Brothers Heads Toward Sale Auction – WWD  WWD

Steak ‘n Shake puts 15 shuttered restaurants up for auction to fund new service model - Louisville Business First
Steak ‘n Shake puts 15 shuttered restaurants up for auction to fund new service model  Louisville Business First

Bottle Of Whiskey From Sunken Cargo Ship Is Up For Auction - NPR
Bottle Of Whiskey From Sunken Cargo Ship Is Up For Auction  NPR

Three-Year Note Auction Attracts Average Demand - Nasdaq
Three-Year Note Auction Attracts Average Demand  Nasdaq

Palettes of Keuka Art Tour is gearing up for annual auction - WETM - MyTwinTiers.com
Palettes of Keuka Art Tour is gearing up for annual auction  WETM - MyTwinTiers.com

Digital Exclusive: Chuck’s Auction Service has success with online bidding - PAHomePage.com
Digital Exclusive: Chuck’s Auction Service has success with online bidding  PAHomePage.com

Albuquerque’s only water park auctioned for $54,000 - KRQE News 13
Albuquerque’s only water park auctioned for $54,000  KRQE News 13

Former Fells Point cafe headed to auction with Auction Brokers - Baltimore Business Journal
Former Fells Point cafe headed to auction with Auction Brokers  Baltimore Business Journal

Treasury ramps up auctions as borrowing, virus surges - Finance and Commerce
Treasury ramps up auctions as borrowing, virus surges  Finance and Commerce

Virtual Auction for the Animals set for Aug. 29 - Pagosa Springs Sun
Virtual Auction for the Animals set for Aug. 29  Pagosa Springs Sun

Auction Firm MaestroSoft Acquired By Arreva - The NonProfit Times
Auction Firm MaestroSoft Acquired By Arreva  The NonProfit Times

Annual Yates County Chamber Auction goes online - Penn Yan Chronicle-Express
Annual Yates County Chamber Auction goes online  Penn Yan Chronicle-Express

25th Annual Anne S. Thacik Auction Web site Launches - GANT News
25th Annual Anne S. Thacik Auction Web site Launches  GANT News

$10M 'Flowing Hair' 1794 US dollar set for auction in Las Vegas - FOX5 Las Vegas
$10M 'Flowing Hair' 1794 US dollar set for auction in Las Vegas  FOX5 Las Vegas

Auction Report: Bonhams Announces An All-Seiko Online-Only Auction - HODINKEE
Auction Report: Bonhams Announces An All-Seiko Online-Only Auction  HODINKEE

Buffalo Sabres to auction game-worn 50th season jerseys - Niagara Frontier Publications
Buffalo Sabres to auction game-worn 50th season jerseys  Niagara Frontier Publications

Clark County hosting government surplus vehicle, airport lost and found online auctions this week - KLAS - 8 News Now
Clark County hosting government surplus vehicle, airport lost and found online auctions this week  KLAS - 8 News Now

Brandon Lee 'Crow' Costume Sells For $25K at Auction - Hollywood Reporter
Brandon Lee 'Crow' Costume Sells For $25K at Auction  Hollywood Reporter

Michael Jordan Bulls jersey up for auction - Chicago Sun-Times
Michael Jordan Bulls jersey up for auction  Chicago Sun-Times

El Paso County foreclosure auction still happening in person, dozens gather - KFOX El Paso
El Paso County foreclosure auction still happening in person, dozens gather  KFOX El Paso

Auction House Repatriates Sacred Indigenous Items, Possibly a Human Scalp - VICE
Auction House Repatriates Sacred Indigenous Items, Possibly a Human Scalp  VICE

Rare 1969 Adams Brothers M-505 Probe 16, like in 'A Clockwork Orange,' up for auction - Autoblog
Rare 1969 Adams Brothers M-505 Probe 16, like in 'A Clockwork Orange,' up for auction  Autoblog

Auction for former North Dakota missile site falls short - KX NEWS
Auction for former North Dakota missile site falls short  KX NEWS

Prop Store Announces Auction Featuring Rare 'Star Wars' Items! - Nerds and Beyond
Prop Store Announces Auction Featuring Rare 'Star Wars' Items!  Nerds and Beyond

Auction move here raises virus concerns | City News - scottsdale.org
Auction move here raises virus concerns | City News  scottsdale.org

Spectacles Belonging to Gandhi Were Mailed to an Auction House–With Owner Having No Idea of Their Value - Good News Network
Spectacles Belonging to Gandhi Were Mailed to an Auction House–With Owner Having No Idea of Their Value  Good News Network

Breaking News: Bonhams' Seiko-Only Auction Disappears In The Wake Of Collector Scrutiny - HODINKEE
Breaking News: Bonhams' Seiko-Only Auction Disappears In The Wake Of Collector Scrutiny  HODINKEE

'Leash' proof sells at auction | Local News | rutlandherald.com - Rutland Herald
'Leash' proof sells at auction | Local News | rutlandherald.com  Rutland Herald

BMW R26 German Police Bike Goes To Auction - RideApart
BMW R26 German Police Bike Goes To Auction  RideApart

Friendship Heights Mall Heading To Foreclosure Auction - Bisnow
Friendship Heights Mall Heading To Foreclosure Auction  Bisnow

MusiCares Foundation announces charity auction items - The Music Universe.
MusiCares Foundation announces charity auction items  The Music Universe.

CSC Generation, Marquee Brands Top Fortress in Sur La Table Bankruptcy Auction - The Wall Street Journal
CSC Generation, Marquee Brands Top Fortress in Sur La Table Bankruptcy Auction  The Wall Street Journal

HiBid.com Auctions Topped $35 Million Last Week; Sports Cars, Gold Bullion, Farm Equipment, & More Up For Sale - PRNewswire
HiBid.com Auctions Topped $35 Million Last Week; Sports Cars, Gold Bullion, Farm Equipment, & More Up For Sale  PRNewswire

Pheasant Run auction bringing back flood of memories - Kane County Chronicle
Pheasant Run auction bringing back flood of memories  Kane County Chronicle

Spots remain open in Triple B Invitational; new auction items available - nsudemons.com
Spots remain open in Triple B Invitational; new auction items available  nsudemons.com

Houghton County Fair canceled; livestock shows, auctions, and drive-through food concessions to take place - WLUC
Houghton County Fair canceled; livestock shows, auctions, and drive-through food concessions to take place  WLUC

Auction of Washington Wines Virtual Pt 1 - AG INFORMATION NETWORK OF THE WEST - AGInfo Ag Information Network Of The West
Auction of Washington Wines Virtual Pt 1 - AG INFORMATION NETWORK OF THE WEST  AGInfo Ag Information Network Of The West

Rotary auction slated - Hillsboro Times Gazette
Rotary auction slated  Hillsboro Times Gazette

Chamber Hostesses move 'Raising Red Barns' auction online - North Platte Telegraph
Chamber Hostesses move 'Raising Red Barns' auction online  North Platte Telegraph

Government Surplus Auctions to be hosted virtually Aug. 3-11 on TNT auction website - KLAS - 8 News Now
Government Surplus Auctions to be hosted virtually Aug. 3-11 on TNT auction website  KLAS - 8 News Now

Preston Evans has a colossal four-day auction event planned for Sept. 4-7 in Byron, Georgia - ArtfixDaily
Preston Evans has a colossal four-day auction event planned for Sept. 4-7 in Byron, Georgia  ArtfixDaily

Lightning Foundation to host online auctions, 50/50 raffles in playoffs - Official site of the Tampa Bay Lightning
Lightning Foundation to host online auctions, 50/50 raffles in playoffs  Official site of the Tampa Bay Lightning

NY state completes investigation into mock slave auction in Watertown 4th grade class - syracuse.com
NY state completes investigation into mock slave auction in Watertown 4th grade class  syracuse.com

St. Cloud Rox to Auction Off Jerseys for Freedom Flight - KNSI Radio
St. Cloud Rox to Auction Off Jerseys for Freedom Flight  KNSI Radio

SARC raising funds with “maskerade” contest and auction - KBTX
SARC raising funds with “maskerade” contest and auction  KBTX

HiBid's Toys.HiBid.com Portal Showcases Auctions Featuring Toys, Games & Collectibles for All Ages - PRNewswire
HiBid's Toys.HiBid.com Portal Showcases Auctions Featuring Toys, Games & Collectibles for All Ages  PRNewswire

Babylon chamber is holding its popular Chinese auction online - GreaterBabylon
Babylon chamber is holding its popular Chinese auction online  GreaterBabylon

Founders of YouTube and Restoration Hardware to auction historic Adirondack camp - newyorkupstate.com
Founders of YouTube and Restoration Hardware to auction historic Adirondack camp  newyorkupstate.com

Wine Online: How the Multimillion-Dollar Wine Auction Circuit Is Going Virtual - Robb Report
Wine Online: How the Multimillion-Dollar Wine Auction Circuit Is Going Virtual  Robb Report

Photos: Auction Offers Chance To Own A Piece Of Threadgill's Memorabilia - KUT
Photos: Auction Offers Chance To Own A Piece Of Threadgill's Memorabilia  KUT

Bidding Ends Today For China Fashion Gala Auction To Benefit China Institute - Forbes
Bidding Ends Today For China Fashion Gala Auction To Benefit China Institute  Forbes

MicroStrategy Announces Commencement of Modified Dutch Auction Tender Offer to Purchase Up to $250 Million of Its Class A Common Stock - Business Wire
MicroStrategy Announces Commencement of Modified Dutch Auction Tender Offer to Purchase Up to $250 Million of Its Class A Common Stock  Business Wire

Isiah Thomas calls out auction house to return stolen All-Star Game MVP trophy - ClutchPoints
Isiah Thomas calls out auction house to return stolen All-Star Game MVP trophy  ClutchPoints

GNC, China's Harbin Pharmaceutical agree on sale price before auction - New Hope Network
GNC, China's Harbin Pharmaceutical agree on sale price before auction  New Hope Network

Barrett-Jackson moves Las Vegas and Palm Beach, Florida car auction to Scottsdale instead this fall - AZCentral
Barrett-Jackson moves Las Vegas and Palm Beach, Florida car auction to Scottsdale instead this fall  AZCentral

Bidding open on Hunterdon Art Museum’s online fundraiser auction - nj.com
Bidding open on Hunterdon Art Museum’s online fundraiser auction  nj.com

Jimi Hendrix’s ‘60s Japanese sunburst guitar sells at auction for over $180,000 - Guitar.com
Jimi Hendrix’s ‘60s Japanese sunburst guitar sells at auction for over $180,000  Guitar.com

Gooding sets online auction record with $3.08M sale of Ferrari 275 GTB - The ClassicCars.com Journal
Gooding sets online auction record with $3.08M sale of Ferrari 275 GTB  The ClassicCars.com Journal

"Disneyland: The First 65 Years" – A Two-Day Auction Starting August 15, 2020 - The DIS
"Disneyland: The First 65 Years" – A Two-Day Auction Starting August 15, 2020  The DIS

US Vehicle Auction Market Outlook 2020-2024: Due to COVID-19, Online/Digital Auctions Have Become the New Norm - GlobeNewswire
US Vehicle Auction Market Outlook 2020-2024: Due to COVID-19, Online/Digital Auctions Have Become the New Norm  GlobeNewswire

Pheasant Run memorabilia will be available in online auction - Chicago Daily Herald
Pheasant Run memorabilia will be available in online auction  Chicago Daily Herald

Kishman Farm near Minerva sold at auction - Canton Repository
Kishman Farm near Minerva sold at auction  Canton Repository

Box of Stained Glass Bought at Auction Solves 80-year Mystery of Church Windows Gone Missing During WWII - Good News Network
Box of Stained Glass Bought at Auction Solves 80-year Mystery of Church Windows Gone Missing During WWII  Good News Network

ADESA auto auction says Flint layoffs will be more than expected - MLive.com
ADESA auto auction says Flint layoffs will be more than expected  MLive.com

Muncie Exide plant sold at bankruptcy auction - The Star Press
Muncie Exide plant sold at bankruptcy auction  The Star Press

Despite an online boost, auction houses saw a 49 percent drop in sales in the first half of 2020. - Artsy
Despite an online boost, auction houses saw a 49 percent drop in sales in the first half of 2020.  Artsy

The Strategist’s First-Ever Celebrity Auction - New York Magazine
The Strategist’s First-Ever Celebrity Auction  New York Magazine

Global Auction Sales Declined 49% in the First Half of 2020 - Barron's
Global Auction Sales Declined 49% in the First Half of 2020  Barron's

Fyre Festival Merch Seized by U.S. Marshals Hits the Auction Block - Rolling Stone
Fyre Festival Merch Seized by U.S. Marshals Hits the Auction Block  Rolling Stone

Steak n Shake to auction 15 locations, 3 in Michigan - MLive.com
Steak n Shake to auction 15 locations, 3 in Michigan  MLive.com

$10M ‘Flowing Hair’ 1794 US dollar set for auction in Vegas - Las Vegas Review-Journal
$10M ‘Flowing Hair’ 1794 US dollar set for auction in Vegas  Las Vegas Review-Journal

Antique vampire-slaying kit up for auction. Bible, crucifix and pistol included. - Livescience.com
Antique vampire-slaying kit up for auction. Bible, crucifix and pistol included.  Livescience.com

Manheim adds 13 auctions to return of in-lane bidding - Auto Remarketing
Manheim adds 13 auctions to return of in-lane bidding  Auto Remarketing

Auction calendar shifts as COVID-19 cancels ANA show - Coin World
Auction calendar shifts as COVID-19 cancels ANA show  Coin World

A Rare 1793 Strawberry-Leaf Cent Hits Auction for the Fourth Time in 130 Years - Barron's
A Rare 1793 Strawberry-Leaf Cent Hits Auction for the Fourth Time in 130 Years  Barron's

Neue Auctions' online-only Summer Art & Antiques Auction is coming up this Saturday, July 25th - ArtfixDaily
Neue Auctions' online-only Summer Art & Antiques Auction is coming up this Saturday, July 25th  ArtfixDaily

Over $28.2M in Assets Sold Through HiBid.com Last Week; Rare Coins, Artwork, Trucks, Tractors and More for Sale in Upcoming Auctions - PRNewswire
Over $28.2M in Assets Sold Through HiBid.com Last Week; Rare Coins, Artwork, Trucks, Tractors and More for Sale in Upcoming Auctions  PRNewswire

Chemung County hosts online auction for tax-foreclosed properties - WETM - MyTwinTiers.com
Chemung County hosts online auction for tax-foreclosed properties  WETM - MyTwinTiers.com

City Hall's annual vehicle auction moves online due to COVID-19 pandemic - Argus Leader
City Hall's annual vehicle auction moves online due to COVID-19 pandemic  Argus Leader

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