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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Julia Tang publishes "Smart Online Business Tips", a fresh
and informative newsletter dedicated to supporting people
like you. To find out the best online business opportunities,
to discover hundreds more proven and practical internet
marketing secrets, plus FREE internet marketing products
worth over $200, visit: http://www.best-internet-businesses.com
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In The News:

Aviation Week
Continental Airlines Applauds FAA Order to Stop Newark Slot Auction
MarketWatch - Aug 28, 2008
The FAA Chief Counsel said he acted under the authority from the FAA Acting Administrator and found Continental and other airline protesters of the auction ...
FAA delays first slot auction for Newark Forbes
FAA Suspends Auction of Flight Slot at Newark Airport (Update2) Bloomberg
FAA Puts Newark Flight Auction on Hold WNYC
Aero-News Network - NY1all 183 news articles

Blog auctions to help Mesa plane crash victim
Arizona Republic, AZ - 8 hours ago
29, 2008 10:07 AM Bloggers are holding online auctions to support a Mesa woman who was critically injured in an airplane crash last week. ...

3G spectrum auctions to be over by September 30: DoT
Business Standard, India - 11 hours ago
PTI / Mumbai August 29, 2008, 20:01 IST The auction process for the third generation (3G) spectrum service are likely to be over by September 30, ...
3G auctions to end by Dec: DoT secy Financial Express
norms not against foreign telcos Economic Times
Foreign firms' 3G quality may suffer for want of spectrum Business Standard
all 6 news articles

Deutsche Bank Auctions Richter, Baselitz Art for AIDS Charity
Bloomberg - 13 hours ago
29 (Bloomberg) -- Deutsche Bank AG, owner of the world's biggest corporate art collection, will tomorrow auction works by artists including Gerhard Richter, ...

Monsters and Critics.com
Jerry Lewis MDA Labor Day Telethon Adds Online Auctions to Lineup
Auctionbytes - 11 hours ago
By Ina Steiner The Muscular Dystrophy Association will launch its first-ever national online auction in conjunction with the 43rd Annual Jerry Lewis MDA ...
Jerry Lewis talks troubles, television and upcoming telethon Monsters and Critics.com
She Didn't Need Help Laughing Parade Magazine
all 3 news articles

Menzies' plan of auction
The Australian, Australia - 9 hours ago
How apt, then, that auction house owner Rod Menzies has chosen a Warhol work as the show stopper at his next sale. Following recent attacks from his critics ...
Slump in sales leaves art auctioneers hanging The Australian
all 2 news articles

Examiner.com
Auctions and Antiques Examiner
Examiner.com - 7 hours ago
These websites were picked by the Auctions and Antiques Examiner as useful resources. One of the busiest areas in collectibles and a mainstay has been dolls ...

HispanicBusiness.com
FACTBOX-Fed's liquidity tools
Forbes, NY - Aug 28, 2008
The $50 billion option draws will be in addition to the $200 billion that may be offered under regular TSLF auctions. Under the TSLF, the Federal Reserve ...
Fed actions to boost liquidity guardian.co.uk
Federal Reserve auctions $75B in loans to aid banks Youngstown Vindicator
Fed auctions another $75B to ease credit stresses Forbes
guardian.co.ukall 37 news articles

Best Syndication
Setting The Record Straight On Repossessed Car Auctions
Best Syndication, CA - 3 hours ago
A lot of it is aimed at pushing people to car auction membership sites. Look, I've got nothing against these sites. As a matter of fact, I'm a paid member ...

Opinion still split over privatization of court-run auctions
The Daily Yomiuri, Japan - Aug 28, 2008
The government panel for regulatory reform and real estate companies are asking the government to privatize auctions currently conducted by courts. ...
auctions - Google News


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