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Online Auctions Business


Online auction sites are a great way to find a bargain on almost anything and an excellent way of getting the best price for selling something of your own. Online auctions are different from their real-world counterparts. You are free to take your time browsing the listings and bidding takes place over a period of days rather than minutes. Online Auctions offer good opportunity for anyone wishing to start an online business for a number of reasons. If you feel you have the persistence necessary to run your own successful business, this is one opportunity you should consider.

Basic Idea

Your business is to sell playing intermediary role helping people to buy items they need. You do not need stock as you can start by placing drop shipper's items on eBay to get you started. Drop shipping is used by intermediary and mail order companies who do not wish to stock inventory of the products sold for future delivery through mail order, catalogues and internet advertising. You send single unit orders for products to manufacturers, or major stocking distributors, who in turn drop ship the merchandise direct to your customers found at online auction. Manufacturers providing drop shipping services can gain additional sales, shift advertising costs to middlemen, offer advertising material and reduce inventory requirements. You shift the risks of stocking inventory to the supply source, including storage, insurance, overhead, and personnel by spending nothing on inventory, until after the product is sold.

Advantages

Minimal capital needed to start. You loose a few dollars in eBay fees if your item doesn't sell.

Disadvantages

Lack of public information on general sales methods and techniques used. This is not passive income system. You should work all the time you want to run your business.

Common mistakes to avoid

1. Listing an item with wrong auction expiration time. It's a known fact that more buyers browse auction sites on Sunday evenings than any other time during the week.

2. Not giving your listing the attention it deserves. Lots of people place items without photos and even good description. Lots of people use all kinds of flashing animation, multicolored text and other bells and whistles in an attempt to entice bidders. Listings like these are distracting, hard to read, and will always discourage people from bidding, resulting in a lower final sales price.

3. Using a reserve price. Using a reserve price to guarantee that one will get a minimum price for an item. People will not bid on "Reserve" auctions as they don't want to get "Reserve not yet met" message.

4. Not planning your business activities. It is always better to create business plan and start implementing it. eBay business requires procedured to be done everyday so plan it thoroughly.

5. Not selecting several good drop shippers. Your business should be stable. Drop shippers can quit and also they can kill your business by not meeting your expectations. So rotate them until you get several good ones for your business.

You can find books to read first and Online Actions list at www.RichTrack.com.

Written by Helen Peshkova, RichTrack.com.

http://www.RichTrack.com is one of the first business oriented education portals. It's the leading online business information network for millionaires. The goal of RichTrack.com is to present business content in a professional, helpful and practical format that helps you getting rich.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Wed. September / 23 / 2020

Bonnette Auctions announces upcoming auction on Saturday - KALB
Bonnette Auctions announces upcoming auction on Saturday  KALB

A Baseball Life: Vin Scully Auctions Items From 67-Year Career - NBC Southern California
A Baseball Life: Vin Scully Auctions Items From 67-Year Career  NBC Southern California

Sotheby’s auctions AIC professor’s photos - WWLP.com
Sotheby’s auctions AIC professor’s photos  WWLP.com

A $10,000 Bill Sets $384,000 World Record at Heritage Auctions - Coin Dealer Newsletter
A $10,000 Bill Sets $384,000 World Record at Heritage Auctions  Coin Dealer Newsletter

Pumpkin auction draws crowd - WNEP Scranton/Wilkes-Barre
Pumpkin auction draws crowd  WNEP Scranton/Wilkes-Barre

Goldin Auctions Summer Tally: $11... - Sports Collectors Daily
Goldin Auctions Summer Tally: $11...  Sports Collectors Daily

10 Most Expensive Mustangs Sold At Auctions | HotCars - HotCars
10 Most Expensive Mustangs Sold At Auctions | HotCars  HotCars

Upper East Side condo conversion fetches $51M at auction - The Real Deal
Upper East Side condo conversion fetches $51M at auction  The Real Deal

Bob R. Simpson Collection Debuts at $14.6 Million at Heritage Auctions - CoinWeek
Bob R. Simpson Collection Debuts at $14.6 Million at Heritage Auctions  CoinWeek

Bonhams returns to live auctions with sales in UK and Switzerland - The ClassicCars.com Journal
Bonhams returns to live auctions with sales in UK and Switzerland  The ClassicCars.com Journal

Save the Tennessee, Bijou theatres through online auctions - WVLT
Save the Tennessee, Bijou theatres through online auctions  WVLT

Ericsson proposes new model for LatAm 5G spe... - BNamericas English
Ericsson proposes new model for LatAm 5G spe...  BNamericas English

Remodel of 'Action Auction' brings new generation of supporters to annual fundraiser - Current
Remodel of 'Action Auction' brings new generation of supporters to annual fundraiser  Current

Frazetta Leads Heritage's $9.8M White Glove Comics & Comic Art Auction - Antiques and the Arts Online
Frazetta Leads Heritage's $9.8M White Glove Comics & Comic Art Auction  Antiques and the Arts Online

Vin Scully’s Personal Collection Of Dodgers Memorabilia Up For Auction - CBS Los Angeles
Vin Scully’s Personal Collection Of Dodgers Memorabilia Up For Auction  CBS Los Angeles

Auction planned for the Hagen History Center - YourErie
Auction planned for the Hagen History Center  YourErie

Clear Space auctions walk-on role in 'Mamma Mia!' as fundraiser - CapeGazette.com
Clear Space auctions walk-on role in 'Mamma Mia!' as fundraiser  CapeGazette.com

FCC chair predicts broadband reverse auction will help Mountain State - West Virginia MetroNews
FCC chair predicts broadband reverse auction will help Mountain State  West Virginia MetroNews

50 Texas license plates up for auction including YEE HAH, 1 SPUR, HAN SOLO - KSAT San Antonio
50 Texas license plates up for auction including YEE HAH, 1 SPUR, HAN SOLO  KSAT San Antonio

Giannis Antetokounmpo rookie card sells for nearly $2 million at auction - Fox Business
Giannis Antetokounmpo rookie card sells for nearly $2 million at auction  Fox Business

HOPEsudbury 19th Annual Telethon & Auction - Patch.com
HOPEsudbury 19th Annual Telethon & Auction  Patch.com

Auction Prices That Take Your Breath Away - The New York Times
Auction Prices That Take Your Breath Away  The New York Times

Auctions show Indian renewables still primed for growth - pv magazine India
Auctions show Indian renewables still primed for growth  pv magazine India

Christie's CEO Cerutti Says 'No Discounts' for Online Auctions - Bloomberg
Christie's CEO Cerutti Says 'No Discounts' for Online Auctions  Bloomberg

Over 650 Ounces of GOLD Offered in Stack's Bowers Sept. Precious Metals Auction - CoinWeek
Over 650 Ounces of GOLD Offered in Stack's Bowers Sept. Precious Metals Auction  CoinWeek

Safe distancing: Airport's auction of abandoned vehicles to be held online this year - Pittsburgh Post-Gazette
Safe distancing: Airport's auction of abandoned vehicles to be held online this year  Pittsburgh Post-Gazette

Bidding in first of 2 online auctions for confiscated hunting, fishing equipment open, ends Saturday - KSTP
Bidding in first of 2 online auctions for confiscated hunting, fishing equipment open, ends Saturday  KSTP

City of Biloxi held annual auction Saturday - WXXV News 25
City of Biloxi held annual auction Saturday  WXXV News 25

BUSINESS BEAT: Spieth and Satow conduct Barnhart estate auction - WTVB News
BUSINESS BEAT: Spieth and Satow conduct Barnhart estate auction  WTVB News

How auction sales volumes have started September - Auto Remarketing
How auction sales volumes have started September  Auto Remarketing

2020 Sonoma County Wine Auction Raises $1.17 Million for Sonoma County Nonprofits - wineindustryadvisor.com
2020 Sonoma County Wine Auction Raises $1.17 Million for Sonoma County Nonprofits  wineindustryadvisor.com

From donuts to furniture, businesses donate items for online fire aid auction - Mail Tribune
From donuts to furniture, businesses donate items for online fire aid auction  Mail Tribune

SPIETH & SATOW AUCTIONS, INC. | Ads | thenewsherald.com - Southgate News Herald
SPIETH & SATOW AUCTIONS, INC. | Ads | thenewsherald.com  Southgate News Herald

10 buildings near Lexington Market downtown hit the auction block - Baltimore Business Journal
10 buildings near Lexington Market downtown hit the auction block  Baltimore Business Journal

Stalled UES Condo Conversion Project Sells for $51M via Bankruptcy Auction - Commercial Observer
Stalled UES Condo Conversion Project Sells for $51M via Bankruptcy Auction  Commercial Observer

Rare NASA, Space, and Aviation Collectibles Up For Auction - Everett Post
Rare NASA, Space, and Aviation Collectibles Up For Auction  Everett Post

Is ProDrive worth its extra cost at auction? - Successful Farming
Is ProDrive worth its extra cost at auction?  Successful Farming

Historic Brunswick hotel sold at auction - Portland Press Herald - Press Herald
Historic Brunswick hotel sold at auction - Portland Press Herald  Press Herald

Vin Scully's Personal Collection Is On The Auction Block - Yahoo News
Vin Scully's Personal Collection Is On The Auction Block  Yahoo News

Tag: Hard Asset Equipment Online Auction statistics 2020 - The Daily Chronicle
Tag: Hard Asset Equipment Online Auction statistics 2020  The Daily Chronicle

Teddy Bear Cancer Foundation Benefit Features More Than 100 Silent Auction Items - Noozhawk
Teddy Bear Cancer Foundation Benefit Features More Than 100 Silent Auction Items  Noozhawk

Becky's Place Online Auction Set For Sept. 28 – Oct. 12 – WBIW - WBIW.com
Becky's Place Online Auction Set For Sept. 28 – Oct. 12 – WBIW  WBIW.com

Cleaned basement and garage. Lots of stuff. 1709 4th Ave. - International Falls Journal
Cleaned basement and garage. Lots of stuff. 1709 4th Ave.  International Falls Journal

Online art auction to benefit local CHAIRity - Entertainment - Utica Observer Dispatch
Online art auction to benefit local CHAIRity - Entertainment  Utica Observer Dispatch

City of Biloxi putting on an auction - WXXV News 25
City of Biloxi putting on an auction  WXXV News 25

Smith's 'Auction Extravaganza' Brings Out Summer's Best Finds - Antiques and the Arts Online
Smith's 'Auction Extravaganza' Brings Out Summer's Best Finds  Antiques and the Arts Online

Simpson Public Library previews online auction fundraiser - ABC27
Simpson Public Library previews online auction fundraiser  ABC27

Feed The Kids hosts online auction - WWLP.com
Feed The Kids hosts online auction  WWLP.com

BCA launches virtual auction to benefit artists and Community Members - Vermont Biz
BCA launches virtual auction to benefit artists and Community Members  Vermont Biz

DOD wants help figuring out spectrum sharing ahead of commercial 5G auction - FedScoop
DOD wants help figuring out spectrum sharing ahead of commercial 5G auction  FedScoop

One of largest known T. rex skeletons up for auction at Christie’s - NBC News
One of largest known T. rex skeletons up for auction at Christie’s  NBC News

Auction Report: A Gumby Watch Gifted By Andy Warhol To Keith Haring To Cross The Block At Sotheby's - HODINKEE
Auction Report: A Gumby Watch Gifted By Andy Warhol To Keith Haring To Cross The Block At Sotheby's  HODINKEE

Pakistan looks to auction unutilized LNG capacity: industry body - S&P Global
Pakistan looks to auction unutilized LNG capacity: industry body  S&P Global

Annual Anne Fund Sports Memorabilia Auction to occur virtually in October - LebTown
Annual Anne Fund Sports Memorabilia Auction to occur virtually in October  LebTown

Amoako Boafo on Slowing Down and Staying Focused While His Auction Prices Skyrocket - Observer
Amoako Boafo on Slowing Down and Staying Focused While His Auction Prices Skyrocket  Observer

"Who's Your Caddy?" Virtual Auction - 98.5 The Sports Hub
"Who's Your Caddy?" Virtual Auction  98.5 The Sports Hub

Abraham Lincoln's lock of hair sells for more than $81,000 at auction - CNN
Abraham Lincoln's lock of hair sells for more than $81,000 at auction  CNN

Rare Books &c. at Auction This Week - Fine Books & Collections Magazine
Rare Books &c. at Auction This Week  Fine Books & Collections Magazine

Bones to pick, for $8M: Stan the T-rex goes up for auction - KTRK-TV
Bones to pick, for $8M: Stan the T-rex goes up for auction  KTRK-TV

Dodgers Announcer Vin Scully Auctions Items From Career - Spectrum News 1
Dodgers Announcer Vin Scully Auctions Items From Career  Spectrum News 1

Minty One-Owner Lexus LFA Heads to Auction - Super Street Network
Minty One-Owner Lexus LFA Heads to Auction  Super Street Network

Nashville: An Auction for ACM Lifting Lives Covid 19 Response Fund | Charity Auction - Christie's
Nashville: An Auction for ACM Lifting Lives Covid 19 Response Fund | Charity Auction  Christie's

PUBLIC AUCTION • SUNDAY, SEPTEMBER 27, 1:30 PM | Auctions - West Plains Daily Quill
PUBLIC AUCTION • SUNDAY, SEPTEMBER 27, 1:30 PM | Auctions  West Plains Daily Quill

Over 800 items avaliable at Biloxi auction behind Fire Station #7 - WLOX
Over 800 items avaliable at Biloxi auction behind Fire Station #7  WLOX

Unicorn Auctions Offers An Online Whiskey Auction Model To American Consumers - The Whiskey Wash
Unicorn Auctions Offers An Online Whiskey Auction Model To American Consumers  The Whiskey Wash

Digital auto auctions are effective and safer - Automotive News
Digital auto auctions are effective and safer  Automotive News

'Aladdin' T-shirt from 1992 nets $6000 in virtual auction - WBBM NewsRadio
'Aladdin' T-shirt from 1992 nets $6000 in virtual auction  WBBM NewsRadio

Dauer Collection of encased postage set for fall auction - Coin World
Dauer Collection of encased postage set for fall auction  Coin World

Showpiece 50-Plus Acre Philadelphia Area Estate By Designer Rafael Viñoly to Auction Online via Concierge - EIN News
Showpiece 50-Plus Acre Philadelphia Area Estate By Designer Rafael Viñoly to Auction Online via Concierge  EIN News

Culliver Reading Center closes, online auction in progress - Mansfield News Journal
Culliver Reading Center closes, online auction in progress  Mansfield News Journal

Design Week in Highwood to feature a dog house auction fundraiser to benefit Everts Park - Chicago Tribune
Design Week in Highwood to feature a dog house auction fundraiser to benefit Everts Park  Chicago Tribune

What to Know About the Vin Scully Collection Auction - NBC Southern California
What to Know About the Vin Scully Collection Auction  NBC Southern California

Better Auctions, Better Service, Just Plain Better. | Sponsored Content | lancasteronline.com - LancasterOnline
Better Auctions, Better Service, Just Plain Better. | Sponsored Content | lancasteronline.com  LancasterOnline

For some local artists, local auction is a 43-year tradition | Vashon-Maury Island Beachcomber - Vashon-Maury Island Beachcomber
For some local artists, local auction is a 43-year tradition | Vashon-Maury Island Beachcomber  Vashon-Maury Island Beachcomber

Gala at the Gardens virtual auction happening this week - WGRZ.com
Gala at the Gardens virtual auction happening this week  WGRZ.com

El Paso County still holding auctions in person, looking for options to make them safer - KFOX El Paso
El Paso County still holding auctions in person, looking for options to make them safer  KFOX El Paso

Honolulu Police Department auctions evidence online - KHON2
Honolulu Police Department auctions evidence online  KHON2

Relics from Michael Jordan's Bulls Tenure Up For Auction - Talk Radio 1210 WPHT
Relics from Michael Jordan's Bulls Tenure Up For Auction  Talk Radio 1210 WPHT

The Reveal Firefighter Auction is back this Saturday - KLAS - 8 News Now
The Reveal Firefighter Auction is back this Saturday  KLAS - 8 News Now

CALENDAR: Green auction is under way, live event is Saturday - Charleston Currents
CALENDAR: Green auction is under way, live event is Saturday  Charleston Currents

Grant Zahajko Auctions will conduct a sale dedicated to NASA, space, & aviation collectibles - NBC Right Now
Grant Zahajko Auctions will conduct a sale dedicated to NASA, space, & aviation collectibles  NBC Right Now

Remington auction progresses; sale hearing postponed - WKTV
Remington auction progresses; sale hearing postponed  WKTV

At least one analyst thinks the CBRS auction failed in its goal - FierceWireless
At least one analyst thinks the CBRS auction failed in its goal  FierceWireless

Hundreds of items sold at Biloxi auction - WLOX
Hundreds of items sold at Biloxi auction  WLOX

BBB Start with Trust Online Auction begins Wednesday - whnt.com
BBB Start with Trust Online Auction begins Wednesday  whnt.com

Annual Auction Of Vehicles Abandoned At Pittsburgh International Airport Goes Virtual - CBS Pittsburgh
Annual Auction Of Vehicles Abandoned At Pittsburgh International Airport Goes Virtual  CBS Pittsburgh

RM Sotheby's Auburn Auction celebrates 50 years of a Labor Day tradition - wpta21.com
RM Sotheby's Auburn Auction celebrates 50 years of a Labor Day tradition  wpta21.com

Driveable F1 car raced by Takuma Sato up for auction - Motor Authority
Driveable F1 car raced by Takuma Sato up for auction  Motor Authority

This Online Auction Platform Is Offering You The Chance to Own Luxury Collectibles - HarpersBazaarArabia
This Online Auction Platform Is Offering You The Chance to Own Luxury Collectibles  HarpersBazaarArabia

Rotary Auction total exceeds chairman's expectations | News - Hopkinsville Kentucky New Era
Rotary Auction total exceeds chairman's expectations | News  Hopkinsville Kentucky New Era

PRE ANNOUNCEMENT OF CERTIFICATE AUCTION TENDER - Yahoo Finance
PRE ANNOUNCEMENT OF CERTIFICATE AUCTION TENDER  Yahoo Finance

Manheim adds more auctions to in-lane bidding pilot - Auto Remarketing
Manheim adds more auctions to in-lane bidding pilot  Auto Remarketing

HiBid.com Auctions Soared Past $45.3 Million Last Week; Farm Equipment, Coins, Classic Cars & More for Sale Now - PRNewswire
HiBid.com Auctions Soared Past $45.3 Million Last Week; Farm Equipment, Coins, Classic Cars & More for Sale Now  PRNewswire

Kyrgyzstan spectrum auction called off - Developing Telecoms
Kyrgyzstan spectrum auction called off  Developing Telecoms

UWPD Cancels Annual Auction | News - University of Wyoming News
UWPD Cancels Annual Auction | News  University of Wyoming News

Travis Barker's 1964 Cadillac Coupe DeVille Hits Auction Block - TMZ
Travis Barker's 1964 Cadillac Coupe DeVille Hits Auction Block  TMZ

The Presidential Convertible JFK Rode in the Morning He Died Is Up for Auction - Robb Report
The Presidential Convertible JFK Rode in the Morning He Died Is Up for Auction  Robb Report

China to auction 20000 tonnes of frozen pork from state reserves on Sept 18 - notice - Successful Farming
China to auction 20000 tonnes of frozen pork from state reserves on Sept 18 - notice  Successful Farming

Rare 1991 Mercedes-Benz 500e Brabus 6.0 Is a $55k USD Slice of Sheer Power and Presence - HYPEBEAST
Rare 1991 Mercedes-Benz 500e Brabus 6.0 Is a $55k USD Slice of Sheer Power and Presence  HYPEBEAST

Auction.com enables remote bidding on live foreclosure properties - HousingWire
Auction.com enables remote bidding on live foreclosure properties  HousingWire

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