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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.
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A politically dicey investigation into Wall Street banks allegedly rigging US Treasury auctions has stalled due to a lack of evidence, and it's unclear if the...
WOODLAND — There's a lot to admire in The Columbian's offices.
Sunday is the last day of the Barrett-Jackson auction and will feature the last round of high-powered collector cars.
What: Antiques Collectibles & Memorabilia. Where: USA Live Auctions; Auction Support Center, 4060 hacienda Ave. #100 Las vegas , NV 89118 United States.
“The Sell Sider” is a column written by the sell side of the digital media community. Today's column is written by Sara Badler, senior vice president of ...
Notre Dame School's Country Chic Gala and Auction, honoring Mark Wietstock, will be 5-9 p.m. Saturday, Feb. 2, at the Santa Barbara Woman's Club, 670 ...
The charity auction of the first 2020 Toyota Supra this past weekend shocked many when it netted US$2.1 million at Barrett-Jackson's annual event in Scottsdale ...
In recent years, buyers have flocked to private marketplaces to avoid the fraud, hidden fees and low-quality ads they saw in the open marketplace. Agencies ...
(IDEX Online) – ALROSA raised total revenue of $463 million last year at the 32 international auctions it held for special size (over 10.8 carats) rough diamonds.
The Amarillo Bulls hockey team wore special jerseys for this weekend's games. The jerseys had rainbow ribbons which represented all the ribbons for different ...
The analysts from the Hagerty Insider have “five fast facts” to share from Arizona Auction Week 2019 which concluded Sunday, where 2660 collector cars sell for ...
Peter Lynch, one of Forbes Greatest Business Minds, adds $2 million worth of furniture to the upcoming auction for his Scottsdale house.
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While no single work topped last year's $450.3 million “Salvator Mundi” painting by Leonardo da Vinci, plenty of other auction records were broken this year.
Several Arizona multimillion-dollar mansions, including one owned by Randy Johnson, could soon go to the highest bidder in a live Scottsdale auction.
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Invaluable said it sold half a million lots on its global marketplace in 2018, which is up 20% over the previous year and is up 130% over 5 years. The number of ...
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Two dozen horses in poor condition were rescued from a local auction, and almost half had to be put down.
Meanwhile, works by female and African American artists continue to gain recognition.
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The owners are selling homes in Florida, Pennsylvania, New Mexico and Colorado that were previously individually listed for a combined $46 million.
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Jeff Gordon is auctioning off a 2016 Corvette C7.R with supercharged 6.2-liter LT4 V8 engine to raise money for cancer research at Barrett-Jackson.
Don Lutes Jr. kept the 1943 copper penny he stumbled upon in his high school cafeteria seven decades ago in a safe behind a wall in his Massachusetts home.
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In 1864, the Civil War raged on, with severe consequences both on the battlefield and in commerce. The greenback could not hold its value and Confederate.
The original Surrender Agreement by Germany that ended WWII in Europe will be for sale.
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Woodmere estate in Ligonier, once listed for $7.5 million, sold for under $5.2 million at a no reserve auction held in Chicago.
Prospective bidders soon will be able to bid on six mixed-use parcels totaling 33.76 acres at the Horizon Corporate Center in Bensalem. The land is zoned to ...
Up to $1 million worth of vintage cars and automobile paraphernalia is going up for auction this weekend following the recent closure of the Dick's Classic ...
Summers Place Auctions will give collectors to own a piece of 20th century history next month, with the sale of two rare original sections of the Berlin Wall.
Debris from the Duke of Edinburgh's car accident have reportedly been put up for auction on eBay, reaching a highest bid of £65,900. The 'Prince Philip Car ...
The United States and Switzerland have made early moves to auction off 5G spectrum with many more countries set to follow. The U.S. is in the midst of ...
A weekend benefit for the families of three teenagers killed in a December car crash is on track to raise about $30000, according to organizers.
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Baseball legend Randy Johnson's 25000-square-foot Paradise Valley mansion will go to the highest bidder on Jan. 31.
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The five coolest cars up for sale at the Gooding & Company auction in Scottsdale, Arizona.
NORTHBROOK, Ill., Jan. 21, 2019 /PRNewswire/ -- Hilco Real Estate, LLC announces the date of February 28, 2019 as the online auction for the 29,302 sf ...
There are plenty of homes for sale in South Florida, but one property offers unbelievable luxury for less. It's an auction where, in theory, the buyer could pay a ...
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A legendary Ford Mustang sold for a historic price at the Mecum Auctions event in Kissimmee, Fla., on Friday night when the bidding ended at $2,200,000.
French actress Catherine Deneuve shares her YSL items in auction, including the gowns she wore to the Academy Awards in 1993 and 2000.
While the late-rapper was serving time in the mid-90's, he drew an explicit drawing for his then-girlfriend, which is now going up for auction.
Fans of the A&E series, Storage Wars, will be able to see just what it's like to be on the hit reality show right here in the Hudson Valley.
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The buyer of the 20-acre property learned about the auction only hours before it was to begin Thursday.
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A neighborhood organization and a local nonprofit recently protested at the foreclosure auction of a Jamaica Plain home to prevent bidding on the property for ...
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The Anchor Bay High School Air Force Junior ROTC is accepting donations for its annual penny auction.
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A 1994 Club Car Golf Cart sold for $58,000 at Russo and Steele Collector Automobile Auctions on Thursday, with proceeds benefiting the family of fallen Salt ...
The fourth and final sale of Allan Williams' remarkable collection of Anglo-Saxon and Norman coins will take place Jan. 29 at Spink's London rooms in ...
The red swimming trunks caused social media to go into meltdown during the last I'm a Celebrity series.
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The Keoco Sale Barn, Sigourney, Iowa, reported receipts of 1572 head selling Jan. 14, compared to 992 head a week ago, according to the USDA-Iowa ...
A one-of-a-kind car auction has rolled into Osceola Heritage Park, inundating 190 acres with thousands of vehicles.
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Long Valley Junior Women's Club is pleased to announce an art auction fundraiser being held to benefit Family Promise of Morris County on February 9 th at ...
Honor the legacy of Martin Luther King Jr., check out an art and wine festival or see what's going on the block at a high-end car auction.
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Jan 17 (Reuters) - Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved ...
Petrobras wants to exercise pre-emption rights for three areas ahead of the sixth bidding round of pre-salt offshore oil areas to be held later this year.
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Nadine Snyder, above, carries an oil painting titled “Early Spring” during the Project Gettysburg-Leon auction at Gettysburg College on Saturday. At right, the ...
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