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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 Fri. May / 29 / 2020

Sotheby’s to Hold ‘Live’ Auctions in June, Remotely - The New York Times
  1. Sotheby’s to Hold ‘Live’ Auctions in June, Remotely  The New York Times
  2. Sotheby's Will Hold Major Live Auctions Remotely  Barron's
  3. Sotheby's Modern and Impressionist, Contemporary art sales to held via livestream  Crain's New York Business
  4. Sotheby’s Will Launch First Livestreamed Auction With $60 Million Francis Bacon Triptych  Observer
  5. Sotheby’s to Sell $60 Million Bacon Painting in Virtual Auction  Bloomberg
  6. View Full Coverage on Google News

Christie’s to Host 22 Luxury Auctions In June and July - Barron's
Christie’s to Host 22 Luxury Auctions In June and July  Barron's

Revolutionary War tomahawk sold for world-record price by Lancaster County auction house - pennlive.com
Revolutionary War tomahawk sold for world-record price by Lancaster County auction house  pennlive.com

HiBid.com Offers One-Stop Portal For Boat & Yacht Auctions - Yahoo Finance
HiBid.com Offers One-Stop Portal For Boat & Yacht Auctions  Yahoo Finance

Selected Western livestock auctions | Livestock Auctions - Capital Press
Selected Western livestock auctions | Livestock Auctions  Capital Press

Ticket from Michael Jordan’s Bulls debut auctions for nearly $25,000 - ClutchPoints
Ticket from Michael Jordan’s Bulls debut auctions for nearly $25,000  ClutchPoints

STORAGE AUCTIONS - Columbia Star
STORAGE AUCTIONS  Columbia Star

Online Auctions, Sidewalk Concerts and Virtual Tours - The Wall Street Journal
Online Auctions, Sidewalk Concerts and Virtual Tours  The Wall Street Journal

Classic Car Auctions Upended by Coronavirus - The New York Times
Classic Car Auctions Upended by Coronavirus  The New York Times

Uzbekistan auctions off landmark Soviet-era hotel - Yahoo News
Uzbekistan auctions off landmark Soviet-era hotel  Yahoo News

Earlywine Auctions offers first virtual estate auction for family - Kokomo Perspective
Earlywine Auctions offers first virtual estate auction for family  Kokomo Perspective

Auction Service Offers 90% Savings On Brand New Inventory - Yahoo Finance
Auction Service Offers 90% Savings On Brand New Inventory  Yahoo Finance

WB Liquors Auctions Rare Pappy Van Winkle Bourbon to Benefit San Antonio and Bryan Food Banks - San Antonio Current
WB Liquors Auctions Rare Pappy Van Winkle Bourbon to Benefit San Antonio and Bryan Food Banks  San Antonio Current

Auto auctions take cautious, detailed approach to reopen in-person sales - Auto Remarketing
Auto auctions take cautious, detailed approach to reopen in-person sales  Auto Remarketing

Keeneland to host June auction via new 'Digital Sales Ring' - Horse Racing Nation
Keeneland to host June auction via new 'Digital Sales Ring'  Horse Racing Nation

Stack's Bowers June 18 to 19 auction offers Seated Liberty treasures - Coin World
Stack's Bowers June 18 to 19 auction offers Seated Liberty treasures  Coin World

Manheim's Physical Auto Auctions Could Go Away - Ward's Auto
Manheim's Physical Auto Auctions Could Go Away  Ward's Auto

Worldwide Auctions to Offer Trifecta of Stainless Steel Fords in Auburn - duPont REGISTRY DAILY
Worldwide Auctions to Offer Trifecta of Stainless Steel Fords in Auburn  duPont REGISTRY DAILY

Albert Pujols Dinner, Angels Diamond Club Box Seats Auction for $50K - Bleacher Report
Albert Pujols Dinner, Angels Diamond Club Box Seats Auction for $50K  Bleacher Report

Dalmac Energy hits the auction block - Modern Bulk Transporter
Dalmac Energy hits the auction block  Modern Bulk Transporter

Planned Parenthood Takes Spring Into Action Benefit Auction Online - WWD
Planned Parenthood Takes Spring Into Action Benefit Auction Online  WWD

'Exceedingly rare' cognac from 1762 fetches $146,000 at auction - CNN
'Exceedingly rare' cognac from 1762 fetches $146,000 at auction  CNN

Carefully Curated Long-Time Collection Coming to Hunt... - Sports Collectors Daily
Carefully Curated Long-Time Collection Coming to Hunt...  Sports Collectors Daily

Princeton Community Auction raises $40K for local businesses - Community News Service
Princeton Community Auction raises $40K for local businesses  Community News Service

Victory Nite online auction raising funds for OLV Charities through Sunday - WGRZ.com
Victory Nite online auction raising funds for OLV Charities through Sunday  WGRZ.com

Künker Summer Auction Sales 337-338 Now Online - CoinWeek
Künker Summer Auction Sales 337-338 Now Online  CoinWeek

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

Central Bank of Iran: First Bond Auction June 2 - Financial Tribune
Central Bank of Iran: First Bond Auction June 2  Financial Tribune

First-ever online District 840 Foundation Cash for Kids auction nets $20000 - St. James Plaindealer
First-ever online District 840 Foundation Cash for Kids auction nets $20000  St. James Plaindealer

Wind continues to dominate Italian renewable auctions - Argus Media
Wind continues to dominate Italian renewable auctions  Argus Media

UPDATE 1-Germany auctions 2.363 mln spot carbon permits at 21.7 eur/t - Reuters Africa
UPDATE 1-Germany auctions 2.363 mln spot carbon permits at 21.7 eur/t  Reuters Africa

AAP - Food Samaritans to hold online auction to benefit Coachella Valley clients - Desert Sun
AAP - Food Samaritans to hold online auction to benefit Coachella Valley clients  Desert Sun

Let the bidding begin! Check out this virtual auction - FOX21News.com
Let the bidding begin! Check out this virtual auction  FOX21News.com

Bourbon Co. Chamber invites public to online auction of local vendors - WKYT
Bourbon Co. Chamber invites public to online auction of local vendors  WKYT

German auction house sells historic Medal of Honor despite US opposition - Military Times
German auction house sells historic Medal of Honor despite US opposition  Military Times

Lykill fjármögnun hf.: Bond and bill auction on June 4th - GlobeNewswire
Lykill fjármögnun hf.: Bond and bill auction on June 4th  GlobeNewswire

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

62-acre former Citibank complex heads to auction - Baltimore Business Journal - Baltimore Business Journal
62-acre former Citibank complex heads to auction - Baltimore Business Journal  Baltimore Business Journal

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

QuickDraw art auction kicks off June 7 | Education - The Mountaineer
QuickDraw art auction kicks off June 7 | Education  The Mountaineer

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

1934 Alvis tops H&H Classics online auction - The ClassicCars.com Journal
1934 Alvis tops H&H Classics online auction  The ClassicCars.com Journal

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

Putnam County Fair canceled; plans to move livestock auction online - WOWK 13 News
Putnam County Fair canceled; plans to move livestock auction online  WOWK 13 News

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

Shilo Inn headed to public foreclosure auction - Post Register
Shilo Inn headed to public foreclosure auction  Post Register

A 2020 Porsche 935 is already up for auction, and it has zero miles - Autoblog
A 2020 Porsche 935 is already up for auction, and it has zero miles  Autoblog

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

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

Phil Lesh's Stage-Played Modulus Bass Up For Auction - jambands.com
Phil Lesh's Stage-Played Modulus Bass Up For Auction  jambands.com

Auction House Says $400,000 Worth of Wine Was 'Cooked' During Shipment - Food & Wine
Auction House Says $400,000 Worth of Wine Was 'Cooked' During Shipment  Food & Wine

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

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

Vintage Rupp Arena items on the auction block - WKYT
Vintage Rupp Arena items on the auction block  WKYT

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

County Tax Forfeit Land Auction Is Online Only - KDAL News
County Tax Forfeit Land Auction Is Online Only  KDAL News

Mansion Global Daily: London's Pre-Pandemic Price Boom, Sydney’s Weekly Auctions Are Picking Up and More - Mansion Global
Mansion Global Daily: London's Pre-Pandemic Price Boom, Sydney’s Weekly Auctions Are Picking Up and More  Mansion Global

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

St. Helena High School Ag students stage virtual auction that ends Monday - Napa Valley Register
St. Helena High School Ag students stage virtual auction that ends Monday  Napa Valley Register

US Medal of Honor sells for more than $15000 at German auction house - Stars and Stripes
US Medal of Honor sells for more than $15000 at German auction house  Stars and Stripes

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

St. Lawrence Valley Produce Auction online data gives tips for wholesale selling for North Country farmers - North Country Now
St. Lawrence Valley Produce Auction online data gives tips for wholesale selling for North Country farmers  North Country Now

Mantle Contract, Gehrig Check, 2nd Ranked 1956 Topps Set Headline RR Auction... - Sports Collectors Daily
Mantle Contract, Gehrig Check, 2nd Ranked 1956 Topps Set Headline RR Auction...  Sports Collectors Daily

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

RM Sotheby's Offers Marcel Petitjean's Stunning Car Collection for Auction - HYPEBEAST
RM Sotheby's Offers Marcel Petitjean's Stunning Car Collection for Auction  HYPEBEAST

Nuclear plant reactor control panel up for auction - WTSP.com
Nuclear plant reactor control panel up for auction  WTSP.com

KOVELS; Vintage sports collectibles are often very affordable at auctions - Maryville Daily Times
KOVELS; Vintage sports collectibles are often very affordable at auctions  Maryville Daily Times

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

Breakdown Of Key XFL Auction Dates, As XFL Looks For New Owners - XFL News Hub
Breakdown Of Key XFL Auction Dates, As XFL Looks For New Owners  XFL News Hub

Online art auction benefits equine therapy - Mount Desert Islander
Online art auction benefits equine therapy  Mount Desert Islander

RESULT OF RIKSBANK REVERSED AUCTION SEK BONDS MAY 29, 2020 - GlobeNewswire
RESULT OF RIKSBANK REVERSED AUCTION SEK BONDS MAY 29, 2020  GlobeNewswire

28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction - Forbes
28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction  Forbes

Freeman’s To Offer 29-Carat Yellow Diamond At Online Auction - Forbes
Freeman’s To Offer 29-Carat Yellow Diamond At Online Auction  Forbes

Get Your Hands on a Rolex at Crown & Caliber’s Latest Charity Watch Auction - Robb Report
Get Your Hands on a Rolex at Crown & Caliber’s Latest Charity Watch Auction  Robb Report

Just Sold: Copart pays $3.3 million for 45-acre auction site in Elk River - Finance and Commerce
Just Sold: Copart pays $3.3 million for 45-acre auction site in Elk River  Finance and Commerce

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

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

Jeff Koons, Chloe Wise and More Works Included in Auction for Coalition for the Homeless - HYPEBEAST
Jeff Koons, Chloe Wise and More Works Included in Auction for Coalition for the Homeless  HYPEBEAST

Dust tea prices drop at Kochi auctions - BusinessLine
Dust tea prices drop at Kochi auctions  BusinessLine

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

Want to know the secrets of Miami chefs? Bid at this auction for a personal Zoom session - Miami Herald
Want to know the secrets of Miami chefs? Bid at this auction for a personal Zoom session  Miami Herald

Facebook fundraiser auctions for HALO explode with support - Medicine Hat News
Facebook fundraiser auctions for HALO explode with support  Medicine Hat News

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

Phillips To Hold Cross-Category Online Auction Of Watches, Jewels And Art - Forbes
Phillips To Hold Cross-Category Online Auction Of Watches, Jewels And Art  Forbes

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

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

Jun 4 | Collector's 2-Day Auction Event | Philadelphia, PA Patch - Patch.com
Jun 4 | Collector's 2-Day Auction Event | Philadelphia, PA Patch  Patch.com

Senator Calls on Pompeo to Save Soldier's Medal of Honor from Auction - Military.com
Senator Calls on Pompeo to Save Soldier's Medal of Honor from Auction  Military.com

Clark Tower sold at auction - Memphis Business Journal
Clark Tower sold at auction  Memphis Business Journal

Auctions may have changed forever - EYE hears from firms embracing the virtual saleroom - Property Industry Eye
Auctions may have changed forever - EYE hears from firms embracing the virtual saleroom  Property Industry Eye

Japan mulls 177GW for first power capacity auction - Argus Media
Japan mulls 177GW for first power capacity auction  Argus Media

Nevium Appointed to Sell Art Auction House Paddle8 Intellectual Property as Part of Bankruptcy Proceedings - Benzinga
Nevium Appointed to Sell Art Auction House Paddle8 Intellectual Property as Part of Bankruptcy Proceedings  Benzinga

ComicConnect's Event Auction Results Show Strong Prices in Old Books - Bleeding Cool News
ComicConnect's Event Auction Results Show Strong Prices in Old Books  Bleeding Cool News

August auction slated for State Trust land south of Apache Junction - Your Valley
August auction slated for State Trust land south of Apache Junction  Your Valley

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

Chico State puts centennial pipe organ on the auction block to find permanent home - KRCRTV.COM
Chico State puts centennial pipe organ on the auction block to find permanent home  KRCRTV.COM

Donations needed for Tri-Cities Rotary auction - The Tri-City News
Donations needed for Tri-Cities Rotary auction  The Tri-City News

1000 Pounds of Asparagus Sold at Produce Auction - 9 & 10 News - 9&10 News
1000 Pounds of Asparagus Sold at Produce Auction - 9 & 10 News  9&10 News

Price of Hokkaido melons at season's first auction lower than last year - FreshPlaza.com
Price of Hokkaido melons at season's first auction lower than last year  FreshPlaza.com

Steel Partners' Assets Go to Public Auction - Yahoo Finance
Steel Partners' Assets Go to Public Auction  Yahoo Finance

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