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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 Sat. April / 10 / 2021

US Senate Scrutinizing Ad Exchanges Over Foreign Ad Auctions - CPO Magazine
US Senate Scrutinizing Ad Exchanges Over Foreign Ad Auctions  CPO Magazine

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

Bidder Pleads Guilty to Rigging Bids at Online Auctions for Surplus Government Equipment - Department of Justice
Bidder Pleads Guilty to Rigging Bids at Online Auctions for Surplus Government Equipment  Department of Justice

Christie's Brings Watch Auctions Online for Spring 2021 - Vegas Magazine
Christie's Brings Watch Auctions Online for Spring 2021  Vegas Magazine

Bike registration program aims to curb HBPD stolen bike auctions - Easy Reader
Bike registration program aims to curb HBPD stolen bike auctions  Easy Reader

Beverly Park mansion sells at auction for record $51 million - Los Angeles Times
Beverly Park mansion sells at auction for record $51 million  Los Angeles Times

Auction house sales to test collectors’ appetite for crypto-art - Financial Times
Auction house sales to test collectors’ appetite for crypto-art  Financial Times

Factbox: Global offshore wind tenders and auctions in 2021 - Reuters
Factbox: Global offshore wind tenders and auctions in 2021  Reuters

NASA collectibles up for bids in first live auction of 2021 - WKMG News 6 & ClickOrlando
NASA collectibles up for bids in first live auction of 2021  WKMG News 6 & ClickOrlando

Online Onion Seller Rises from Domain Auction - Practical Ecommerce
Online Onion Seller Rises from Domain Auction  Practical Ecommerce

Infra Week: Brazil federal government auctions off concessions for 22 airports, 5 seaports and 1 railroad - The Rio Times
Infra Week: Brazil federal government auctions off concessions for 22 airports, 5 seaports and 1 railroad  The Rio Times

Massive Disney Memorabilia Auction Ends TODAY! - Inside the Magic
Massive Disney Memorabilia Auction Ends TODAY!  Inside the Magic

David Price is going to auction off his 2020 World Series ring from the Dodgers for a good cause - Yahoo Sports
David Price is going to auction off his 2020 World Series ring from the Dodgers for a good cause  Yahoo Sports

Super Rare LeBron James, Tom Brady Cards Expected to Fetch $5M At Auction - Bleacher Report
Super Rare LeBron James, Tom Brady Cards Expected to Fetch $5M At Auction  Bleacher Report

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS - GlobeNewswire
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS  GlobeNewswire

mjunction targets 25% top line growth in FY22; conducts 27,000 e-auctions in FY21 - Moneycontrol
mjunction targets 25% top line growth in FY22; conducts 27,000 e-auctions in FY21  Moneycontrol

Babe Ruth's handwritten letter to his mistress sells for $201,851 at auction - CBS Sports
Babe Ruth's handwritten letter to his mistress sells for $201,851 at auction  CBS Sports

Money Isn't the Only Reason Auction Houses Are Jumping On NFTs - Bloomberg
Money Isn't the Only Reason Auction Houses Are Jumping On NFTs  Bloomberg

At Sotheby's, Rare Whisky Is Taking Over the Auction Block - InsideHook
At Sotheby's, Rare Whisky Is Taking Over the Auction Block  InsideHook

Sheriff's Office Moving To Online Auctions - LevittownNow.com
Sheriff's Office Moving To Online Auctions  LevittownNow.com

An Oceanfront Mediterranean Estate at the Heart of the Côte d'Azur Heads to Auction - Mansion Global
An Oceanfront Mediterranean Estate at the Heart of the Côte d'Azur Heads to Auction  Mansion Global

Possible Caravaggio Is Withdrawn From Auction; Spain Announces Export Ban - The New York Times
Possible Caravaggio Is Withdrawn From Auction; Spain Announces Export Ban  The New York Times

Forgotten Copy of Super Mario Bros. Sets Record at Auction - The New York Times
Forgotten Copy of Super Mario Bros. Sets Record at Auction  The New York Times

Historic clothing mill-turned-private loft goes up for auction in Georgia. Look inside - Tacoma News Tribune
Historic clothing mill-turned-private loft goes up for auction in Georgia. Look inside  Tacoma News Tribune

Home Experts - RARE Auction Group - 4/06/2021 | Family Health - WPSD Local 6
Home Experts - RARE Auction Group - 4/06/2021 | Family Health  WPSD Local 6

National championship rings among Pat Dye items up for auction - WSFA
National championship rings among Pat Dye items up for auction  WSFA

Classic John Byrne Spider-Man Original Artwork Pages Up for Auction - Bleeding Cool News
Classic John Byrne Spider-Man Original Artwork Pages Up for Auction  Bleeding Cool News

Going once! ABQ-based auction company launches - Albuquerque Journal
Going once! ABQ-based auction company launches  Albuquerque Journal

Bat Used by Lou Gehrig in 1938 Sells at Auction for $715,120 - The New York Times
Bat Used by Lou Gehrig in 1938 Sells at Auction for $715,120  The New York Times

HiBid.com Auctions Generated Over $41 Million in Last Week's Sales; Bidding Now Open on Fine Art, Vehicles, and More - PRNewswire
HiBid.com Auctions Generated Over $41 Million in Last Week's Sales; Bidding Now Open on Fine Art, Vehicles, and More  PRNewswire

RESULT OF RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS - GlobeNewswire
RESULT OF RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS  GlobeNewswire

Old theater in Wichita could get new life after nonprofit lands building in auction - Wichita Eagle
Old theater in Wichita could get new life after nonprofit lands building in auction  Wichita Eagle

British auction house Christie's Plans to Sell 9 Rare Cryptopunk NFTs Next Month – Featured Bitcoin News - Bitcoin News
British auction house Christie's Plans to Sell 9 Rare Cryptopunk NFTs Next Month – Featured Bitcoin News  Bitcoin News

Phoebe Bridgers' Smashed ‘SNL’ Guitar Is up For Auction - Billboard
Phoebe Bridgers' Smashed ‘SNL’ Guitar Is up For Auction  Billboard

BigIron Auctions to Host Classic Car and Motorcycle Auction Featuring Chevyland USA Inventory - GlobeNewswire
BigIron Auctions to Host Classic Car and Motorcycle Auction Featuring Chevyland USA Inventory  GlobeNewswire

Steve Ditko's 1945 School Yearbook Up For Auction - Bleeding Cool News
Steve Ditko's 1945 School Yearbook Up For Auction  Bleeding Cool News

Tiger Group Online Auction on April 15 Features Embroidery and Garment-Printing Equipment from Full-Service Contract Decorator Gate NY - PRNewswire
Tiger Group Online Auction on April 15 Features Embroidery and Garment-Printing Equipment from Full-Service Contract Decorator Gate NY  PRNewswire

Marijuana-themed license plates are up for auction in Colorado - The Denver Post
Marijuana-themed license plates are up for auction in Colorado  The Denver Post

‘Team not legible’: The story of a mysterious signed baseball plucked from The Fours’ auction - Boston.com
‘Team not legible’: The story of a mysterious signed baseball plucked from The Fours’ auction  Boston.com

Mecum Classic And Collector Car Auction Added To Chattanooga Motorcar Festival - Chattanooga Pulse
Mecum Classic And Collector Car Auction Added To Chattanooga Motorcar Festival  Chattanooga Pulse

Local owners put Nomar Theater up for auction - KSN-TV
Local owners put Nomar Theater up for auction  KSN-TV

GM Financial Announces 2020 Auction of the Year Winners - Business Wire
GM Financial Announces 2020 Auction of the Year Winners  Business Wire

eBay auction of Japanese internment art pulled after protest - NBC News
eBay auction of Japanese internment art pulled after protest  NBC News

Used car dealers sue over alleged 'shill bidding' in ACV's auctions - Buffalo News
Used car dealers sue over alleged 'shill bidding' in ACV's auctions  Buffalo News

Capitals and MSE Foundation Auction Featuring Pride Sticks Now Open - Washington Captials Web Site
Capitals and MSE Foundation Auction Featuring Pride Sticks Now Open  Washington Captials Web Site

Auction of Japanese internment art pulled after groups protest - Antelope Valley Press
Auction of Japanese internment art pulled after groups protest  Antelope Valley Press

Auctions of Cars, Watches and Furniture Heat Up - The New York Times
Auctions of Cars, Watches and Furniture Heat Up  The New York Times

Ghost of Horrific Treasury Auction Haunts Bond Market on Brink - Bloomberg
Ghost of Horrific Treasury Auction Haunts Bond Market on Brink  Bloomberg

City Of Tulsa's Surplus Auction Goes Virtual With Anything From Fire Trucks To Segways For Sale - News On 6
City Of Tulsa's Surplus Auction Goes Virtual With Anything From Fire Trucks To Segways For Sale  News On 6

Northampton Rehabilitation and Nursing Center property finds buyer at auction - MassLive.com
Northampton Rehabilitation and Nursing Center property finds buyer at auction  MassLive.com

Women's Resource Center of Northern Michigan Holding Online Auction - 9 & 10 News - 9&10 News
Women's Resource Center of Northern Michigan Holding Online Auction - 9 & 10 News  9&10 News

U.S. Treasury auctions to test demand after volatile trading - Reuters
U.S. Treasury auctions to test demand after volatile trading  Reuters

First-ever digital artwork from legendary late Austin artist up for auction - KVUE.com
First-ever digital artwork from legendary late Austin artist up for auction  KVUE.com

Supporting Solid Waste Science through the EREF Auction - waste360
Supporting Solid Waste Science through the EREF Auction  waste360

Picasso, Sanyu Works Expected to Fetch $26 M. in Sotheby’s Hong Kong Auction - ARTnews
Picasso, Sanyu Works Expected to Fetch $26 M. in Sotheby’s Hong Kong Auction  ARTnews

Jaguar XJ220 | A 1990s Jaguar supercar heads to auction - Autoweek
Jaguar XJ220 | A 1990s Jaguar supercar heads to auction  Autoweek

Sylvester to auction off trucks, equipment and more - WALB
Sylvester to auction off trucks, equipment and more  WALB

University students create new wine for auction | WSU Insider | Washington State University - WSU News
University students create new wine for auction | WSU Insider | Washington State University  WSU News

ACTION AUCTIONS GREENSBORO, NC APRIL 10, 2021 | Auction Sales - Greensboro News & Record
ACTION AUCTIONS GREENSBORO, NC APRIL 10, 2021 | Auction Sales  Greensboro News & Record

Ritchie Bros. keeps rolling with US$55+ million regional auction in Northeast US - PRNewswire
Ritchie Bros. keeps rolling with US$55+ million regional auction in Northeast US  PRNewswire

ACV Auctions' strong debut on Nasdaq fuels hope for local startups - Buffalo News
ACV Auctions' strong debut on Nasdaq fuels hope for local startups  Buffalo News

Auction underway for artwork created through East End Arts' MLK Portrait Project - Riverhead News Review - Riverhead News Review
Auction underway for artwork created through East End Arts' MLK Portrait Project - Riverhead News Review  Riverhead News Review

Auction | Legal Announcements | dothaneagle.com - Dothan Eagle
Auction | Legal Announcements | dothaneagle.com  Dothan Eagle

Charity Wine Auctions Refocus Efforts for 2021 - Wine Spectator
Charity Wine Auctions Refocus Efforts for 2021  Wine Spectator

Auctions with authenticity | Morrison County Record - ECM Publishers
Auctions with authenticity | Morrison County Record  ECM Publishers

Matthew Tkachuk of Calgary Flames is first NHL player to release NFT, will auction it off for charity - ESPN
Matthew Tkachuk of Calgary Flames is first NHL player to release NFT, will auction it off for charity  ESPN

Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest - PRNewswire
Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest  PRNewswire

Baseball Cards Go Crypto as Auction Houses Warm to New Currency - Bloomberg
Baseball Cards Go Crypto as Auction Houses Warm to New Currency  Bloomberg

Once Asking $165 Million, Beverly Hills Estate Sold at Auction for Close to $60 Million - The Wall Street Journal
Once Asking $165 Million, Beverly Hills Estate Sold at Auction for Close to $60 Million  The Wall Street Journal

Rare Bond 'Thunderball' poster heads for auction - Reuters
Rare Bond 'Thunderball' poster heads for auction  Reuters

McDowell Speaks About Relationship with Crew Chief Drew Blickensderfer and Fr8 Auctions - SpeedywayMedia.com
McDowell Speaks About Relationship with Crew Chief Drew Blickensderfer and Fr8 Auctions  SpeedywayMedia.com

City RDA to auction three properties next week - timesobserver.com
City RDA to auction three properties next week  timesobserver.com

Liverpool Banksy rat mural moved to Netherlands auction - BBC News
Liverpool Banksy rat mural moved to Netherlands auction  BBC News

Brazilian biodiesel at record price triggers auction suspension: sources - S&P Global
Brazilian biodiesel at record price triggers auction suspension: sources  S&P Global

This 1,884 Mile AMC Pacer Is Going Up For Auction And Could Be Worth Nearly $30,000 - CarScoops
This 1,884 Mile AMC Pacer Is Going Up For Auction And Could Be Worth Nearly $30,000  CarScoops

Friends of Livingston Library Launches Silent Auction Benefitting Community Programs - TAPinto.net
Friends of Livingston Library Launches Silent Auction Benefitting Community Programs  TAPinto.net

1949 Chevy 3100 Five Window Pickup Is An Auction Bargain - GM Authority
1949 Chevy 3100 Five Window Pickup Is An Auction Bargain  GM Authority

SNL Auctions NFT Parody Skit as an NFT - Decrypt
SNL Auctions NFT Parody Skit as an NFT  Decrypt

WWE Undertaker NFT Auction Hits HUGE Numbers - Ringside News
WWE Undertaker NFT Auction Hits HUGE Numbers  Ringside News

Friends of Peninsula Community Library Hosting Online Auction Fundraiser - Old Mission Gazette
Friends of Peninsula Community Library Hosting Online Auction Fundraiser  Old Mission Gazette

Former Northampton nursing home gets high bid of $1.94M at auction - GazetteNET
Former Northampton nursing home gets high bid of $1.94M at auction  GazetteNET

eBay auction of art drawn at Japanese internment camp in California pulled amid outcry - KTLA
eBay auction of art drawn at Japanese internment camp in California pulled amid outcry  KTLA

Bucks County Sheriff To Auction Off 200 Properties This Week - Patch.com
Bucks County Sheriff To Auction Off 200 Properties This Week  Patch.com

$55 M. Picasso to Auction, Major Collector’s Works Donated to College, and More: Morning Links from April 6, 2021 - ARTnews
$55 M. Picasso to Auction, Major Collector’s Works Donated to College, and More: Morning Links from April 6, 2021  ARTnews

Vegas Golden Knights To Auction "My Favorite Things" Baskets nhl.com - NHL.com
Vegas Golden Knights To Auction "My Favorite Things" Baskets nhl.com  NHL.com

Wholesale car auction platform ACV Auctions sets terms for $314 million IPO - Nasdaq
Wholesale car auction platform ACV Auctions sets terms for $314 million IPO  Nasdaq

Sold! Ford family station wagon gets record price at auction while 1966 Shelby Cobra doesn't - Detroit Free Press
Sold! Ford family station wagon gets record price at auction while 1966 Shelby Cobra doesn't  Detroit Free Press

A Trio of Rare Classic BMWs Is Up for Auction - RoadandTrack.com
A Trio of Rare Classic BMWs Is Up for Auction  RoadandTrack.com

Signs for 12 Minnesota 'ghost towns' are up for auction this weekend - Bring Me The News
Signs for 12 Minnesota 'ghost towns' are up for auction this weekend  Bring Me The News

Matchbox Twenty's NFT auction raises nearly $75000 for charity | X101 Always Classic - X101 Always Classic Local News
Matchbox Twenty's NFT auction raises nearly $75000 for charity | X101 Always Classic  X101 Always Classic Local News

Online auctions give these Lancaster collectors more treasures to hunt - LNP | LancasterOnline
Online auctions give these Lancaster collectors more treasures to hunt  LNP | LancasterOnline

Serbia's firefighters auction Ronaldo's armband to help sick boy - Reuters
Serbia's firefighters auction Ronaldo's armband to help sick boy  Reuters

Car auctions in Phoenix: What to expect at the 2021 Barrett-Jackson and Mecum auto sales - The Arizona Republic
Car auctions in Phoenix: What to expect at the 2021 Barrett-Jackson and Mecum auto sales  The Arizona Republic

Time running out for bidding on auction of Jack Lambert's false teeth container - TribLIVE
Time running out for bidding on auction of Jack Lambert's false teeth container  TribLIVE

Snapshot: Saratoga County building listed in online auction - Troy Record
Snapshot: Saratoga County building listed in online auction  Troy Record

Why Auction House Christie's Jumped Into the Wild NFT Market - Barron's
Why Auction House Christie's Jumped Into the Wild NFT Market  Barron's

Brazil raises $620 mn in huge concession auction - FRANCE 24
Brazil raises $620 mn in huge concession auction  FRANCE 24

Jerry Seinfeld’s Prized Porsche 911 GT3 RS Could Fetch $330,000 at Auction - Robb Report
Jerry Seinfeld’s Prized Porsche 911 GT3 RS Could Fetch $330,000 at Auction  Robb Report

Mecum's 2021 Glendale auction wraps up — see the top sellers - Phoenix Business Journal
Mecum's 2021 Glendale auction wraps up — see the top sellers  Phoenix Business Journal

New Auction Records For Joy Labinjo, Jammie Holmes and Aboudia at Christie's London, Self Portrait by Amoako Boafo Also Exceeds Expectations - Culture Type
New Auction Records For Joy Labinjo, Jammie Holmes and Aboudia at Christie's London, Self Portrait by Amoako Boafo Also Exceeds Expectations  Culture Type

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