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Smart Ways Your Business Can Benefit From Online Auctions
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 rebidding 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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Pinehurst Resort auctions off 'once-in-a-lifetime' experiences to raise money for Employee Assistance Fund Golf Digest
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As Health Concerns Put a Stop to Public Gatherings, New York Auction Houses Face a Reckoning—But Plan to Continue With Major Sales - artnet News
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Penguins Foundation Donating Money Raised Through Jersey Auction To Groups Helping People Impacted By Coronavirus Outbreak - CBS Pittsburgh
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Hungary allocates 131.4 MW of PV in renewables auction pv magazine International
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Bonhams Moves Auctions ‘Behind Closed Doors’ After L.A. Employees Complain About Working Conditions - ARTnews
Bonhams Moves Auctions ‘Behind Closed Doors’ After L.A. Employees Complain About Working Conditions ARTnews
Ritchie Bros. registers record numbers of bidders for auctions in USA & France this week - Yahoo Finance
Ritchie Bros. registers record numbers of bidders for auctions in USA & France this week Yahoo Finance
Citing coronavirus, New York auction houses reschedule Asia Week sales from March to June - Art Newspaper
Citing coronavirus, New York auction houses reschedule Asia Week sales from March to June Art Newspaper
Real estate auctions shift to online — and spur brisk bargain sales Baltimore Business Journal
Saunders Auctions Multi-Parcel Real Estate Sale Set for Aurantia Road Trail Head in Mims March 14 | - SpaceCoastDaily.com
Saunders Auctions Multi-Parcel Real Estate Sale Set for Aurantia Road Trail Head in Mims March 14 | SpaceCoastDaily.com
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Peter Wyngarde memorabilia snapped up at auction The Guardian
Michael Broadbent, oenophile who brought wine auctions back to Christie’s and became a leading figure in the industry – obituary - Telegraph.co.uk
Michael Broadbent, oenophile who brought wine auctions back to Christie’s and became a leading figure in the industry – obituary Telegraph.co.uk
This gorgeous Beverly Hills mansion in celebrity-packed neighborhood heads for auction - Sacramento Bee
This gorgeous Beverly Hills mansion in celebrity-packed neighborhood heads for auction Sacramento Bee
Houston online auction house selling marked-up protective gear responds to criticism - KPRC Click2Houston
Houston online auction house selling marked-up protective gear responds to criticism KPRC Click2Houston
2020 Powercat Auction Rescheduled for August 29 K-StateSports.com
MarkNet Alliance Announces Online Bidding Platform Offering to All Auction Companies - Yahoo Finance
Christie’s Becomes First Major Auction House to Close Most Locations in Response to Coronavirus Pandemic - ARTnews
Christie’s Becomes First Major Auction House to Close Most Locations in Response to Coronavirus Pandemic ARTnews
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BTr sets T-bills, bonds auctions for April INQUIRER.net
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Rodeo officials, volunteers host inaugural online auction and raise $8 million in 33 hours - Houston Chronicle
Rodeo officials, volunteers host inaugural online auction and raise $8 million in 33 hours Houston Chronicle
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'Flash Gordon' Comic Strip Auction to Test Collectors Interest During Coronavirus Crisis - Hollywood Reporter
'Flash Gordon' Comic Strip Auction to Test Collectors Interest During Coronavirus Crisis Hollywood Reporter
Jackie O sells Vaucluse house before online auctions ramp up Daily Telegraph
Being the successful bidder at auction is only the first step in obtaining property with a tax lien - Washington Post
Being the successful bidder at auction is only the first step in obtaining property with a tax lien Washington Post
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