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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

I-key, a Millionaire CEO from New York City is the creator of "Mscsrrr: Millionaire Secret Cash System", (home based business) which has helped thousands of ordinary people from all over the world to attain financial security and shining success during the past 2 yrs.

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TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Tue. May / 26 / 2020

Kobe Bryant's 2000 Lakers championship ring he gifted his mother sells for $206K at auction - CBS Sports
  1. Kobe Bryant's 2000 Lakers championship ring he gifted his mother sells for $206K at auction  CBS Sports
  2. Bryant concrete handprints sell for $75,000 at auction  Insidethegames.biz
  3. Kobe Bryant's 2000 NBA Championship Ring Sells at Auction for $206K USD  HYPEBEAST
  4. Kobe Bryant’s L.A. Laker’s 2000 NBA Championship ring up for auction, according to auctioneer site  FOX13 Memphis
  5. Kobe Bryant NBA Championship Ring Auctions For US$206,000  Boss Hunting
  6. View Full Coverage on Google News

Marie Antoinette's travel bag fetches nearly £40,000 at Paris auction - The Guardian
Marie Antoinette's travel bag fetches nearly £40,000 at Paris auction  The Guardian

UK auctions off vintage Rupp Arena items - WYMT News
UK auctions off vintage Rupp Arena items  WYMT News

Classic Car Auctions Upended by Coronavirus - Times of India
Classic Car Auctions Upended by Coronavirus  Times of India

Online auctions are up, up, UP - Desert Sun
Online auctions are up, up, UP  Desert Sun

Auction Houses Attract Collectors with Private Sales for Three Key Reasons - Artsy
Auction Houses Attract Collectors with Private Sales for Three Key Reasons  Artsy

Price of Hokkaido melons at season's 1st auction drops sharply - Kyodo News Plus
Price of Hokkaido melons at season's 1st auction drops sharply  Kyodo News Plus

Russian cenbank says it will continue holding long-term repo auctions as scheduled - Reuters
Russian cenbank says it will continue holding long-term repo auctions as scheduled  Reuters

The most expensive sneakers ever sold at auction - Business Insider - Business Insider
The most expensive sneakers ever sold at auction - Business Insider  Business Insider

Canadiens Hall of Famer Bob Gainey auctions off personal memorabilia - Montreal Gazette
Canadiens Hall of Famer Bob Gainey auctions off personal memorabilia  Montreal Gazette

Government delays multi-spectrum auction to late 2020 but delays 5G spectrum auction to 2021 - GlobeNewswire
Government delays multi-spectrum auction to late 2020 but delays 5G spectrum auction to 2021  GlobeNewswire

Claret Jug replica from Greg Norman's 1986 Open win up for auction - USA TODAY
Claret Jug replica from Greg Norman's 1986 Open win up for auction  USA TODAY

Notes: Bryant Finals Gamer Sells; Brothers Auction Cards for Causes,... - Sports Collectors Daily
Notes: Bryant Finals Gamer Sells; Brothers Auction Cards for Causes,...  Sports Collectors Daily

Kraft auctions off Super Bowl ring for more than $1 million - NBCSports.com
Kraft auctions off Super Bowl ring for more than $1 million  NBCSports.com

Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record - Yahoo Sports
Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record  Yahoo Sports

The Story Behind the Michael Jordan Love Letter That’s Up for Auction - The Action Network
The Story Behind the Michael Jordan Love Letter That’s Up for Auction  The Action Network

Leake Auctions Cancels June Tulsa Auction - duPont REGISTRY DAILY
Leake Auctions Cancels June Tulsa Auction  duPont REGISTRY DAILY

Auction industry readies for COVID-19 business closures - Marketplace
Auction industry readies for COVID-19 business closures  Marketplace

Bakker annual spring online auction set for May 30 - Wicked Local Wellfleet
Bakker annual spring online auction set for May 30  Wicked Local Wellfleet

Erie Zoo holds virtual animal art auction - YourErie
Erie Zoo holds virtual animal art auction  YourErie

Long-Lost John Deere Found on Auction - WHO TV Des Moines
Long-Lost John Deere Found on Auction  WHO TV Des Moines

Auction Houses Report Success in Online Shift - Barron's
Auction Houses Report Success in Online Shift  Barron's

80-acre Tree-Mendus Fruit Farm property bought at auction for $335,000 - WNDU-TV
80-acre Tree-Mendus Fruit Farm property bought at auction for $335,000  WNDU-TV

OLM Spring Festival featuring virtual auctions, takeout dinner - West Side Index & Gustine Press-Standard
OLM Spring Festival featuring virtual auctions, takeout dinner  West Side Index & Gustine Press-Standard

Ford GT with delivery miles headed to auction - Motor Authority
Ford GT with delivery miles headed to auction  Motor Authority

Annual Spring Livestock auction raises more than $75,000 online to support student projects and education goals - KPRC Click2Houston
Annual Spring Livestock auction raises more than $75,000 online to support student projects and education goals  KPRC Click2Houston

Donald Bridell, a collector who loved auctions and garage sales, dies of COVID-19 at 89 - Minneapolis Star Tribune
Donald Bridell, a collector who loved auctions and garage sales, dies of COVID-19 at 89  Minneapolis Star Tribune

Armando Valdes Collection of South American Banknote Proofs at Heritage Auctions - CoinWeek
Armando Valdes Collection of South American Banknote Proofs at Heritage Auctions  CoinWeek

Leake Auctions cancels its Tulsa collector car sale - The ClassicCars.com Journal
Leake Auctions cancels its Tulsa collector car sale  The ClassicCars.com Journal

Elvis Presley's bedazzled jockstrap hits auction block for $35K - New York Post
Elvis Presley's bedazzled jockstrap hits auction block for $35K  New York Post

Nye County to auction 580 properties online to support essential services - News3LV
Nye County to auction 580 properties online to support essential services  News3LV

Saugerties auction shut down for violating non-essential businesses ban - Hudson Valley One
Saugerties auction shut down for violating non-essential businesses ban  Hudson Valley One

A fantasy golf auction? It’d have Jack’s putter, Tiger’s Scotty…and this epic club - Golf.com
A fantasy golf auction? It’d have Jack’s putter, Tiger’s Scotty…and this epic club  Golf.com

Stephenson's to host May 31 auction of dolls, toys, trains and banks from estates and private collections - ArtfixDaily
Stephenson's to host May 31 auction of dolls, toys, trains and banks from estates and private collections  ArtfixDaily

Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction - Barron's
Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction  Barron's

Online collector car auction sets records, aids COVID-19 relief - Auto Remarketing
Online collector car auction sets records, aids COVID-19 relief  Auto Remarketing

Auction sales volume continues to climb - Auto Remarketing
Auction sales volume continues to climb  Auto Remarketing

Online Auction to Aid Comic-Book Shops Raises Over $430,000 - The New York Times
Online Auction to Aid Comic-Book Shops Raises Over $430,000  The New York Times

Richard Childress auctions Dale Earnhardt car, $425K goes to charity - Yahoo Sports
Richard Childress auctions Dale Earnhardt car, $425K goes to charity  Yahoo Sports

Insiders Share Some Watch Auction Secrets - The New York Times
Insiders Share Some Watch Auction Secrets  The New York Times

16 Cleveland Indians items up for auction (photos) - cleveland.com
16 Cleveland Indians items up for auction (photos)  cleveland.com

Quillayute Valley Scholarship Auction online this year - Peninsula Daily News
Quillayute Valley Scholarship Auction online this year  Peninsula Daily News

Christie’s Gets Creative for 20th-Century Art Auction in July - The New York Times
Christie’s Gets Creative for 20th-Century Art Auction in July  The New York Times

Petitjean Collection with Lamborghinis going up for auction - Business Insider - Business Insider
Petitjean Collection with Lamborghinis going up for auction - Business Insider  Business Insider

Mid Ulster Auctions expands services to Britain - The Irish News - The Irish News
Mid Ulster Auctions expands services to Britain - The Irish News  The Irish News

Auctioneers adapt to virtual auctions - Odessa American
Auctioneers adapt to virtual auctions  Odessa American

Late developer Welkowitz's rare Ferraris up for auction as claims against his estate pass $150 million - LancasterOnline
Late developer Welkowitz's rare Ferraris up for auction as claims against his estate pass $150 million  LancasterOnline

Trudy's Tex-Mex could be sold at auction, report says - KVUE.com
Trudy's Tex-Mex could be sold at auction, report says  KVUE.com

BizBeat: J Street Vintage thrives through online auctions - Jefferson City News Tribune
BizBeat: J Street Vintage thrives through online auctions  Jefferson City News Tribune

Bellevue restaurant Antonios’ closes amid pandemic, auctions everything - WKRN News 2
Bellevue restaurant Antonios’ closes amid pandemic, auctions everything  WKRN News 2

Treasury yields sink after first 20-year bond auction since 1986 - MarketWatch
Treasury yields sink after first 20-year bond auction since 1986  MarketWatch

Prince’s Long-Lost, Ultra-Rare Blue Angel Cloud Guitar Heads to Auction - Rolling Stone
Prince’s Long-Lost, Ultra-Rare Blue Angel Cloud Guitar Heads to Auction  Rolling Stone

Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge - ESPN
Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge  ESPN

A New Era for Auctions? - MutualArt.com
A New Era for Auctions?  MutualArt.com

One Thousand Museum unit heads to the auction block - The Real Deal
One Thousand Museum unit heads to the auction block  The Real Deal

Phil Lesh Gear Up For Auction Including Stage Played Modulus Bass - JamBase
Phil Lesh Gear Up For Auction Including Stage Played Modulus Bass  JamBase

Incredibly Rare Stainless Steel Ford Collection Heads To Auction This Fall - Ford Authority
Incredibly Rare Stainless Steel Ford Collection Heads To Auction This Fall  Ford Authority

Ericson feeder cattle auction results | Livestock Markets | hpj.com - High Plains Journal
Ericson feeder cattle auction results | Livestock Markets | hpj.com  High Plains Journal

Michael Jordan 1986 Fleer Card Sells for Record $99.6K at Auction - Bleacher Report
Michael Jordan 1986 Fleer Card Sells for Record $99.6K at Auction  Bleacher Report

Polished and pricey: These three stainless-steel Fords are up for auction - Driving
Polished and pricey: These three stainless-steel Fords are up for auction  Driving

Andhra Pradesh minister lashes out at state Opposition on TTD land auctions, BJP stir tomorrow - The New Indian Express
Andhra Pradesh minister lashes out at state Opposition on TTD land auctions, BJP stir tomorrow  The New Indian Express

Live streamed auction date for Bond Wolfe Auctions - expressandstar.com
Live streamed auction date for Bond Wolfe Auctions  expressandstar.com

ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions - Thoroughbred Daily News
ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions  Thoroughbred Daily News

Hobby Lobby sues Christie's auction house over sale of illegally imported Gilgamesh Dream Tablet - Fox Business
Hobby Lobby sues Christie's auction house over sale of illegally imported Gilgamesh Dream Tablet  Fox Business

Advocate seeks probe into auction of PEC furniture - The Tribune India
Advocate seeks probe into auction of PEC furniture  The Tribune India

Sotheby's is losing millions because online auctions just aren't that exciting - The Hustle
Sotheby's is losing millions because online auctions just aren't that exciting  The Hustle

Auction sales volumes still sluggish, but improving each week - Auto Remarketing
Auction sales volumes still sluggish, but improving each week  Auto Remarketing

Editor’s Choice: Al Phillips Collection at Mecum Indy 2020 Auction - UltimateMotorcycling.com
Editor’s Choice: Al Phillips Collection at Mecum Indy 2020 Auction  UltimateMotorcycling.com

City moves annual spring auction online due to COVID-19 restrictions - Prince Albert Daily Herald
City moves annual spring auction online due to COVID-19 restrictions  Prince Albert Daily Herald

Michael Jordan sneakers sell for $560,000 at Sotheby's auction - NBC News
Michael Jordan sneakers sell for $560,000 at Sotheby's auction  NBC News

Auction calendar: May 1, 2020 - Wisconsin State Farmer
Auction calendar: May 1, 2020  Wisconsin State Farmer

This Historic Colt 1911 Pistol Carried at Iwo Jima Is About to Go Up for Auction - Military.com
This Historic Colt 1911 Pistol Carried at Iwo Jima Is About to Go Up for Auction  Military.com

On the auction block with LaDon and Allen Henslin - Pipestone County Star
On the auction block with LaDon and Allen Henslin  Pipestone County Star

Riverside County sheriff's online auction offers cars, jewelry and more - Desert Sun
Riverside County sheriff's online auction offers cars, jewelry and more  Desert Sun

Coronavirus in NYC: USHG Auctions Weekend with HGTV’s Chop and Joanna Gaines - Eater NY
Coronavirus in NYC: USHG Auctions Weekend with HGTV’s Chop and Joanna Gaines  Eater NY

Stainless steel Ford Model 38, Thunderbird and Lincoln Continental headed to auction - Autoblog
Stainless steel Ford Model 38, Thunderbird and Lincoln Continental headed to auction  Autoblog

Sotheby’s Auctions Michael Jordan Game-Worn Sneakers From 1985 - Yahoo News Australia
Sotheby’s Auctions Michael Jordan Game-Worn Sneakers From 1985  Yahoo News Australia

PAWS holding virtual auction to raise needed funds for 'baby season' - My Edmonds News
PAWS holding virtual auction to raise needed funds for 'baby season'  My Edmonds News

Terms for Nykredit's and Totalkredit's auctions - Nykredit Realkredit A/S - GlobeNewswire
Terms for Nykredit's and Totalkredit's auctions - Nykredit Realkredit A/S  GlobeNewswire

Wet Paint: Leonardo DiCaprio Flips a Work That Was Dedicated to Him, Hans-Ulrich Obrist Interviews Animals on TikTok, & More Juicy Art-World Gossip - artnet News
Wet Paint: Leonardo DiCaprio Flips a Work That Was Dedicated to Him, Hans-Ulrich Obrist Interviews Animals on TikTok, & More Juicy Art-World Gossip  artnet News

Amarillo cattle auction results | Livestock Markets | hpj.com - High Plains Journal
Amarillo cattle auction results | Livestock Markets | hpj.com  High Plains Journal

Instagram Influencer Auctions Her Virginity Online to Raise Funds for Covid-19 Relief, Apologises After Outra - India.com
Instagram Influencer Auctions Her Virginity Online to Raise Funds for Covid-19 Relief, Apologises After Outra  India.com

Virtual auction nets a buyer for detained ship in Charleston Harbor - Charleston Post Courier
Virtual auction nets a buyer for detained ship in Charleston Harbor  Charleston Post Courier

Entire Clinton Antique Shop Up For Auction - Clinton, CT Patch
Entire Clinton Antique Shop Up For Auction  Clinton, CT Patch

Mediterranean-Style Mansion on Florida’s Merritt Island Heads to Auction - Mansion Global
Mediterranean-Style Mansion on Florida’s Merritt Island Heads to Auction  Mansion Global

Antebellum Mansion in Louisiana With a Full Ballroom Heads to Auction - Mansion Global
Antebellum Mansion in Louisiana With a Full Ballroom Heads to Auction  Mansion Global

First Barrett-Jackson'Online Only auction tops $3.79 million - The ClassicCars.com Journal
First Barrett-Jackson'Online Only auction tops $3.79 million  The ClassicCars.com Journal

Treasury to Increase Auction Sizes of Longer-Dated Securities - The Wall Street Journal
Treasury to Increase Auction Sizes of Longer-Dated Securities  The Wall Street Journal

REvil to Auction Stolen Madonna Data - Infosecurity Magazine
REvil to Auction Stolen Madonna Data  Infosecurity Magazine

SCHOOLS: Gatewood Elementary's virtual auction – and dinner! - West Seattle Blog
SCHOOLS: Gatewood Elementary's virtual auction – and dinner!  West Seattle Blog

WCTE Great TV auction goes online - Cookeville Herald Citizen
WCTE Great TV auction goes online  Cookeville Herald Citizen

Barrett-Jackson cancels live Northeast auction, prepares for online event - New York Business Journal
Barrett-Jackson cancels live Northeast auction, prepares for online event  New York Business Journal

Prince, Kurt Cobain, Bill Wyman, Brian Jones guitars head to auction - New Atlas
Prince, Kurt Cobain, Bill Wyman, Brian Jones guitars head to auction  New Atlas

A Motor Yacht That Can Accommodate 19 People Heads to Auction - Barron's
A Motor Yacht That Can Accommodate 19 People Heads to Auction  Barron's

Teas worth ₹3.64 cr unsold at Coonoor auctions - BusinessLine
Teas worth ₹3.64 cr unsold at Coonoor auctions  BusinessLine

Victoria dealer sells Batmobile replica at Arizona auction - vancouverislandfreedaily.com
Victoria dealer sells Batmobile replica at Arizona auction  vancouverislandfreedaily.com

Auction.com buyers purchasing occupied REO homes pledge to postpone eviction proceedings - HousingWire
Auction.com buyers purchasing occupied REO homes pledge to postpone eviction proceedings  HousingWire

Auction will be live online | News and Star - News & Star
Auction will be live online | News and Star  News & Star

Secret WW2 spy gadgets sell for £17k at Bristol auction - BBC News
Secret WW2 spy gadgets sell for £17k at Bristol auction  BBC News

Michael Jordan Golf Bag, Shoes, Putter, Signed Driver Auction for Combined $48K - Bleacher Report
Michael Jordan Golf Bag, Shoes, Putter, Signed Driver Auction for Combined $48K  Bleacher Report

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