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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 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

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

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

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

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

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

Relief sales adapt to online auctions, find bidders - Mennonite World Review
Relief sales adapt to online auctions, find bidders  Mennonite World Review

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

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

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

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

BJ DRYE COLUMN: It happened at the auction - The Stanly News & Press - Stanly News & Press
BJ DRYE COLUMN: It happened at the auction - The Stanly News & Press  Stanly News & Press

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

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

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

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

SpeediShuttle to sell 49 vehicles in online auction - Pacific Business News (Honolulu)
SpeediShuttle to sell 49 vehicles in online auction  Pacific Business News (Honolulu)

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

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

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

$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

Even with Erie County Fair canceled, the animal shows and auctions go on - WGRZ.com
Even with Erie County Fair canceled, the animal shows and auctions go on  WGRZ.com

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

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

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

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

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

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

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

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

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

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

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.

Flint, Mich., to destroy illegal guns seized by police, won't auction them off to lawful bidders - Fox News
Flint, Mich., to destroy illegal guns seized by police, won't auction them off to lawful bidders  Fox News

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

20 Under 40: Peterson enjoys leadership opportunities at DPA Auctions - Fremont Tribune
20 Under 40: Peterson enjoys leadership opportunities at DPA Auctions  Fremont Tribune

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

Point Lookout estate auctions off all assets on property - By Kendra Caruso and Fran Gonzalez - Republican Journal
Point Lookout estate auctions off all assets on property - By Kendra Caruso and Fran Gonzalez  Republican Journal

US offshore energy industry releases economic impact study of offshore wind auctions - WorldOil
US offshore energy industry releases economic impact study of offshore wind auctions  WorldOil

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

Sotheby’s Reports $2.5 Billion in Sales - The New York Times
Sotheby’s Reports $2.5 Billion in Sales  The New York Times

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

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

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

Auctions get creative as the pandemic forces them online - The New York Times
Auctions get creative as the pandemic forces them online  The New York Times

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

United States Vehicle Auction Market 2020-2024 Featuring Profiles of Key Players KAR Auction Services, Copart and Manheim - Yahoo Finance
United States Vehicle Auction Market 2020-2024 Featuring Profiles of Key Players KAR Auction Services, Copart and Manheim  Yahoo Finance

Result of Riksbank reversed auctions SEK bonds Stockholm Stock Exchange:RIX - GlobeNewswire
Result of Riksbank reversed auctions SEK bonds Stockholm Stock Exchange:RIX  GlobeNewswire

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

Montgomery Co. police vehicle auctions shift back in gear - WTOP
Montgomery Co. police vehicle auctions shift back in gear  WTOP

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

In Photos: Leopold III's Bugatti goes up for auction - The Brussels Times
In Photos: Leopold III's Bugatti goes up for auction  The Brussels Times

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

Auction of Washington Wines Takes Events Online, Aug. 11-15 - wineindustryadvisor.com
Auction of Washington Wines Takes Events Online, Aug. 11-15  wineindustryadvisor.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 open on Hunterdon Art Museum’s online fundraiser auction - nj.com
Bidding open on Hunterdon Art Museum’s online fundraiser auction  nj.com

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

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

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

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

Theater at Monmouth 18th annual Silent Auction underway online - Kennebec Journal & Morning Sentinel
Theater at Monmouth 18th annual Silent Auction underway online  Kennebec Journal & Morning Sentinel

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

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

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

Certified American Tokens & Medals Offered in August Heritage Auction - CoinWeek
Certified American Tokens & Medals Offered in August Heritage Auction  CoinWeek

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