Auctions – Big Business On The Internet


September 19, 2017 Facebook Twitter LinkedIn Google+ Online Auction


Internet auctions have become a source of extra income for some and even the main income source for others. There is no limit as to who can sell and what can be sold, millions of buyers can be reached. Membership is easy and can be more convenient than traditional shopping, especially for those hard-to-find items. One key thing to remember is to establish yourself in a particular niche and prove yourself as capable and competent before expanding into other areas. Build customer trust at the on-set and there will be no limit to your success.

Keeping your stock replenished is another key element to your success. There are numerous sources available you can use. Garage Sales, Liquidation Sales, Estate Sales, Clearance Sales, and Bargain Store Sales are great resources. And don’t forget to check into repossessed and seized vehicle auctions if your niche happens to be auto bargains.

With garage sales you can potentially pick up items for pennies but do not rely on them as your sole provider of products. Liquidation sales offer name brand items at enormous discounts but make sure you check for damaged, used or returned items as this may bring down your profit margin. Again, not a reliable replenishment source. If you are specializing in selling jewelry, vintage clothing, rare books, even antique furnishings, Estate Sales are a goldmine. Have a budget in mind beforehand and try to stay within your particular business scope. Greater profit can usually be gained from estate sales offered by family members compared to ones through estate agencies. Most major stores have sales at certain times of the year to reduce stock. These include Clearance Sales and Inventory Reduction Sales and you can sometimes get merchandise at 50% or more below regular selling prices. This is a great opportunity to replenish your stock. Hobby Shops can be another source for clearance sales items, especially those unique items. Your most reliable and consistent source of stock is Wholesalers. These can be found through a directory which ensures legitimacy and reliability for mainstay product sourcing.

In today’s economy, more and more people are facing uncertainty when it comes to making home and car payments. Many have been forced to default and their vehicles are seized by the finance company. But lenders are not in the business of storing vehicles so they are anxious to unload them and one of the best ways is through auto auctions. Everyone has seen the TV commercials offering government seized, repossessed or even fleet overstocked vehicles at ridiculously low prices, some as much as 90% off retail cost. Using alternative means is one of the best ways to get auto bargains since most vehicles are fairly new and are still covered by the manufacturer’s warranty. Repossessed vehicles also come with service and registrant history and a clean title, making this one of the fastest growing niches in online business.

No matter which area you decide to go into, whether as a part-time hobby or as a full-time career, online auctions have become one of the fastest growing businesses today.

Keith Johnson writes on marketing and business related issues. You can learn more by visiting http://keiths-auction-info.blogspot.com.

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