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.

In The News:

Radio frequency auctions: No one’s tuning in, operators say reserve prices too high  The Financial ExpressMost of the stations on offer in Phase III have a population of less than five lakh and are located mainly in the North-Eastern states and in Jammu and Kashmir.
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Weak bond auctions flash warning on India's record debt sales  LivemintMumbai: India is struggling to sell its bonds at recent auctions, and that's even before Prime Minister Narendra Modi embarks upon a record borrowing program.
Melbourne faces first auction test of 2019 in bumper weekend  Domain NewsMelbourne's weakening property market will face a key test this Saturday as the number of auctions returns to more normal levels after the summer break.
National Auction Market Preview - 24 February The busiest suburb for auctions this week is the Melbourne  CoreLogic Property NewsThe busiest suburb for auctions this week is the Melbourne suburb of Bentleigh East, with 19 homes set to go under the hammer, followed by the Sydney ...
Upcoming auctions offer range of opportunities for investors  Independent.ieFive public property auctions are scheduled to take place in the next three weeks across the country in Dublin, Naas, Cork, Galway and Limerick.
Industrial Auctions Getting So Popular in Industry  IFP NewsMore people get interested in industrial auctions day by day. So, the industrial auctioneers are getting more specialized in time on this field.
SBI real estate e-auction on Feb 27, over 1,000 commercial, residential properties on sale; how to participate  Times NowNew Delhi: State Bank of India (SBI), India's largest bank by customers, is coming up with a real estate e-Auction on Wednesday, February 27, 2019, under ...
Wilsons Auctions to Conduct Crypto Auction for Belgian Government  Finance MagnatesThe United Kingdom-based auction company has announced that it is going to host a 24-hour online auction of Bitcoin.
Burgundy dominates iDealwine auctions 2018  decanter.comBurgundy continued to dominate the fine wine auction scene in 2018, accounting for 42 out of the 50 most expensive bottles sold by online auctioneer iDealwine ...
‘Don’t hold 5G spectrum auctions before 2020’  The HinduVodafone Idea on Wednesday said that auctions for 5G spectrum should not be held before 2020, as there was a need to first develop India-specific use cases ...
‘Once in a blue moon’ chance to snap up high-end jewellery at bargain prices  Daily TelegraphBargain hunters can snap up rare and exquisite jewellery for a fraction of the original price tag when more than 260 items worth more than 2m go under the ...
Sydney faces first auction test of 2019 in bumper weekend  Domain NewsSydney's property market faces its first test of the year in the form of a bumper weekend of auctions. There are 660 auctions scheduled across the city on ...
Volume drops at Coonoor tea auctions  BusinessLineA volume of 11.16 lakh kg has been catalogued for Sale No: 7 of the Coonoor Tea Trade Association concluding on Friday. This is as much as 1.55 lakh kg less ...
Utah tag auctions highlight Western Hunting Conservation Expo  Las Vegas Review-JournalHunters from across the west gathered last week at the Salt Palace Convention Center in Salt Lake City, Utah, for the 2019 Western Hunting Conservation Expo.
Once a hot ticket at Tsukiji, Tokyo's Toyosu market struggles to attract tourists to its tuna auctions  The Japan TimesThe Toyosu wholesale market in Tokyo's Koto Ward has been struggling to attract visitors to watch tuna auctions even though a designated viewing area was o.
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Brisbane auctions: Buyers hanging out for the houses with nothing to do  Domain NewsIn this era of time-poor professionals and busy families, finding a house that requires no work has become a high priority for many Brisbane buyers.
Commercial coal mining auctions may not take place soon: Official  Economic TimesNEW DELHI: Auctions for commercial coal mining may not take place soon as the country is entering the election mode, said a senior government official.
Wilsons Auctions Marks New Belgium Contract with Launch of First Bitcoin Auction  CointelegraphPress Releases. February 15, 2019 – WILSONS Auctions, a leading advisory *service* for worldwide law enforcement agencies, is to hold its first bitcoin auction in ...
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Regulators to scrutinise CCP default auctions  Risk.netGlobal regulators are debating options to improve the design of clearing house default auctions, amid calls from banks and other market participants for a ...
Turkish Treasury holds auctions to borrow $1.86B  Yeni Şafak EnglishTreasury and Finance Ministry holds auctions for fixed coupon and CPI-indexed government bonds.
Mt. Pleasant Boosters to hold annual auction Saturday  The Morning SunThe Mt. Pleasant Oilers Athletic Boosters are hosting their annual auction to help raise money for the school district's athletic programs.
Maharashtra Auctions 1 GW of Solar Projects at Lowest Tariff of ₹2.74/kWh  Mercom IndiaShiv Solar and ACME Solar have quoted the lowest tariff of ₹2.74 (~$0.038)/kWh in the recent auction conducted by the Maharashtra State Electricity ...
JFK must-haves at auction: Presidential flag, inauguration shirt  Washington ExaminerNew must-haves for JFK collectors are heading to auction, and the winning bidder will be able to act — and look — just like the 35th president. Our friends at ...
Auction report: Betting on 'blue' at big February gathering  AgrilandMonday, February 11, saw the latest monthly Cambridge Machinery Sales auction take place at Cheffins Auctioneers' sale grounds.
Rundown Roseville home set for big auction  NEWS.com.auA deceased estate on a prime 1226sqm Roseville block is set to be one of the hotter auctions on the north shore this weekend. The $2.5 million auction guide for ...
GOOD CROWDS FLOCK TO OLD TORQUAY AUCTIONS - Surf Coast Times  TIMES NEWS GROUPVendor Naranda Watson of 3 Short Street Torquay shakes hands with successful buyer John Sanderson, with auctioneer Steve Menegazzo (left) and Tracey ...
Pieces of Mike Isabella's restaurant empire go up for auction  WTOPThe bankruptcy courts are beginning to dismantle chef Mike Isabella's D.C.-area restaurants, with auctions now scheduled for the contents of six of the eateries, ...
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Ferrari Emerges As Top Earner from 2019 Scottsdale Collectible Car Auctions  ForbesWith another round of January auctions behind us, we can now get a better look at how collector cars are selling and marvel at the prices they command.
Antique Power Club prepares for annual dinner, auction  Terre Haute Tribune StarKnowles Auction House in Marshall, Ill., will be a flurry of activity on Saturday as the Clark County Antique Power Club prepares for its annual Pork Chop Supper ...
'Huge sentiment shift': Sydney, Melbourne auction clearances pick up  The Australian Financial ReviewSydney's auction clearance rate hit a nine-month high and Melbourne's also picked up on the weekend buoyed by hopes of an interest rate cut and relief that ...
Selling Heathrow's slots at auctions 'will push up fares'  The TimesMinisters are considering auctioning take-off and landing slots at an expanded Heathrow, despite warnings that such a move would inflate costs for airlines and ...
Kenya recalls ambassador to Somalia after Mogadishu auctions oil blocks in disputed area  Capital FM KenyaNAIROBI, Kenya, Feb 16 – Kenya has recalled the ambassador to Somalia Lt. General (Rtd) Lucas Tumbo to Nairobi for 'urgent' consultations after the Somali ...
Auction Directory  thejournal-news.netSAT., MAR. 2 - 9 a.m. at Bond County Fairgrounds, Greenville, IL 62246. Consigning all types of farm machinery incl. tractors, combines, headers, planters, ...
St. Andrew's holds annual auction | | helenair.com  Helena Independent RecordThe 2019 Emerald Isle Auction for St. Andrew School will be from 4:30 to 9 p.m. Saturday, Feb. 23, on campus, 1900 Flowerree St. Lots of great auction items, ...
Auction House Wine Sales Break Records  ForbesWine sales at major auction houses across the globe hit record highs in 2018, according to Sotheby's, the international auction house with outposts around the ...
Classic cars fetch top dollar at auction  Business DayThe classic-car investment market had a strong start to the year at the Rétromobile auctions held in Paris from February 5 to 9. Official auction house Artcurial ...
Exporters hold tea to beat low auction prices  Daily NationHigh tea volumes have overwhelmed warehouses in Mombasa as low prices at the auction and high production on farms have left the stores full.
Durgin-Park memorabilia is on the auction block  The Boston GlobeAfter Durgin-Park closed on Jan. 12, one of the most common refrains uttered among locals seemed to be, “I wish I had gone.” The 192-year-old restaurant was ...
Want to own your own fire truck? Peabody surplus auction offers up retired vehicles  Boston 25 NewsIf you've dreamed of owning your own firetruck or turning a school bus into a traveling tiny home, here's your chance.
Dinner And Auction Planned To Benefit St. Pat's School  KIWARadio.comSheldon, Iowa — A fundraising supper and auction is coming up to raise funds for a local school, and you are invited to help out. St. Patrick's School in Sheldon ...
Concord International Elementary PTA Auction  West Seattle BlogJoin us for a tropical-themed evening complete with live music, dinner, drinks and silent and live auctions benefiting Concord International Elementary!
Rarest, most valuable US paper bills in existence set for multimillion dollar auction  Fox NewsThree exceedingly rare 19th century U.S. currency notes are expected to sell for a combined $7 million when they are auctioned off next week.
DoT likely to host next round of spectrum auction post August  Gadgets NowThe Department of Telecommunications (DoT) is likely to hold the next round of spectrum auction only after August this year, and may use the new pricing ...
H. Wayne Huizenga's $27 million mansion headed for auction  Sun SentinelAfter would-be buyers looked but took a pass on the waterfront mansion that was home to the late billionaire H. Wayne Huizenga in Fort Lauderdale, the ...
APTEL stays Tamil Nadu wind auction temporarily  Economic TimesTamil Nadu Electricity Regulatory Authority set a feed in tariff for wind power of Rs 2.80 per unit.
The FCC Just Wrapped Its First 5G Airwave Auction, and It Didn't Even Crack $1 Billion  FortuneThe first 5G airwave license auction ended with the Federal Communications Commission receiving total winning bids of $702 million.
Online auction of seized Belgian bitcoin begins next week  The Irish TimesWilsons Auctions secures contract to sell 315 coins of cryptocurrency.
Auctioneer facing more theft allegations at National Book Auctions  ithaca.comLocal auctioneer David Hall, who ran two local consignment companies, has been hit with another lawsuit regarding the operation of his National Book Auctions ...
U.S. TIPS breakeven rates rise further after auction  ReutersThe U.S. bond market's barometers of investors' inflation expectations increased more on Thursday following record indirect purchases at a $8 billion auction of ...
Gerhard Richter's Painting Secures Top Lot at Phillips' Upcoming Auction | Artinfo  BLOUIN ARTINFOGerhard Richter's painting, “Dϋsenjager,” gets the highest estimate at Phillips' upcoming auction “20th Century And Contemporary Art Evening Sale,” which will ...
Nkom accepts registrations for offshore 700 MHz and 900 MHz auction until 04 April  TelecompaperNorwegian communications regulator Nkom has finalised the rules for the auction of offshore frequencies in the 700 MHz and 900 MHz bands out for ...
Fort Lauderdale mansion of late billionaire Huizenga set for auction (photos)  South Florida Business JournalThe home build by the owner of the Miami Dolphins is along the New River.
9 Online Auction Sites to Rival eBay  G2 CrowdOnline auctions are a great way to snag unique items, so we've compiled a list of 9 online auction sites that work similarly to eBay but offer a unique way for you ...
UPC Solar Quotes Lowest Tariff of ₹2.55/kWh in Gujarat's 500 MW Solar Auction  Mercom IndiaParyapt Solar, a special purpose vehicle by UPC Solar, has emerged as the lowest bidder by quoting a tariff of ₹2.55 (~$0.035)/kWh to develop 50 MW in the ...
Ritchie Bros. giant equipment auction gets even bigger  Fleet OwnerMore than 13400 pieces of trucking and construction equipment, spread out on 255 acres in Orlando, are up for auction this week.
FGEHF gets Rs706.35m from auction of plots  The News InternationalIslamabad: The Federal Government Employees Housing Foundation (FGEHF) fetched Rs706.35 million from auction of commercial plots located in sectors ...
Germany Awards 476 Megawatts In Latest Undersubscribed Onshore Wind Auction  CleanTechnicaFebruary 20th, 2019 by Joshua S Hill. Germany's latest onshore wind tender was again undersubscribed with only 476 megawatts (MW) of capacity being ...
Real estate agents report seeing 'more zing' from buyers at weekend auctions  Domain NewsReal estate agents reported stepped-up buyer enthusiasm for inner-suburban properties at the weekend.
SoftBank-Bharti-Foxconn JV shines in India's solar auctions  QuartzJapan's SoftBank is popular in India mostly for its massive investments in the country's fledgling tech startups. But the group, headed by billionaire Masayoshi ...
Rare Michael Jordan shoe goes from Milwaukee mall demolition site to high-priced auction  Milwaukee Journal Sentinel"My Very Best." It's a simple enough message, scrawled on an old athletic shoe that wound up in an abandoned storage room as Capitol Court Mall was being ...
Local News Clark County to hold first surplus auction of the year Amy Abdelsayed 9:55  KTNV Las VegasLAS VEGAS (KTNV) — Clark County's first government surplus auction of 2019 is just around the corner and the preview and pre-registration begin next week.
Details: Over 100 John Deere 6R/M Series tractors to go to auction  AgrilandOn Wednesday (February 13), we brought you news that Euro Auctions has been appointed to “dispose of” the assets of the UK-based Hawk Plant equipment ...
Two clarifications that point to where Essar Steel auction is headed  Moneycontrol.comA couple of clarifications perhaps point to the direction where the Essar Steel auction is headed. Anil Agarwal's Vedanta on February 19 categorically confirmed ...
Industry Stunned as Mexico Cancels Clean Power Auction  Greentech Media NewsMexico's renewables sector is reeling from the cancellation of an upcoming clean energy auction and the likely handing of power back to state entities.
Catherine's Cause looks to make Regina better with online auction  620 CKRM.comA 10-year-old Fort Qu'Appelle girl is looking to raise money to help the community. Catherine Okolita, founder of Catherine's Cause, is holding an online auction ...
Auction Preview: Jewelry at Kissing Auction, Delhi, March 2 | Artinfo  BLOUIN ARTINFOWhat: Jewelry. Where: Kissing Auction; SD-99 Tower Apartments, Pitam Pura, Delhi, 110034, India. When: March 2; 04.00 AM GMT. Top lots of the sale:.
Government to auction PPAs to revive 10,000 MW of stressed power plants  Economic TimesNew Delhi: The government expects to put 10,000 MW of stressed power assets on track through auctions, starting with 5,000 MW of power purchase contracts ...
Chandler Speedway up for auction  TriStateHomepage.comThe auction will take place on Wednesday, March 20.
Nielsen Forms Addressable TV Ad Group After Buying Sorenson Media’s Assets for $11.25 Million  VarietyAfter acquiring tech vendor Sorenson Media, Nielsen formed an addressable advertising unit aimed at serving targeted ads on smart TVs.
Doubts over authenticity of 'Hitler' paintings sold at Shropshire auction house  shropshirestar.comAn art critic has questioned whether paintings believed to have been created by Adolf Hitler and sold by a county auction house were actually painted by the ...
Dalhart livestock auction report | Markets  High Plains JournalThe Cattleman's Livestock Auction, Dalhart, Texas, reported receipts of 1687 head selling Feb. 14, compared to 1872 head a week ago and 2625 head last year, ...
Gujarat solar auction: UPC Energy Group, Adani Green Energy, ReNew Power winners  Economic TimesOrange Renewable and ReNew Power won 120 MW and 105 MW at Rs 2.67 and Rs 2.68 in the auction.
Last day for Herald's annual online auction  Lethbridge HeraldLethbridge Herald Only hours remain to take advantage of local deals through the Lethbridge Herald. The second annual LethbridgeAuctions.com is open for.
NIGO Teams up With Sotheby’s to Auction off Personal Art Collection  HighsnobietyBAPE creator NIGO has teamed up with Sotheby's for a third auction of his personal collection, called NIGOLDENEYE Vol. 1. See the rare items for sale here.
North Carroll: Annual auction for Boy Scout Troop 380 set for March 2  Carroll County TimesBoy Scout Troop 380 is holding its annual auction to raise money toward supporting the troop and its events. The auction will be run from 9 a.m. until 5 p.m. ...
Monty Mason '89 yearbook pages depict Pi Lambda Phi 'slave auctions'  The Flat HatWhen Virginia Senator Monty Mason '89 (D-Williamsburg) was an undergraduate at the College of William and Mary, his fraternity — Pi Lambda Phi ...
KAR Auction Services (KAR) James Hallett on Q4 2018 Results - Earnings Call Transcript  Seeking AlphaKAR Auction Services (NYSE:KAR) Q4 2018 Results Earnings Conference Call February 20, 2019, 11:00 AM ET Company Participants Mike Eliason - Treasurer ...
China stirs the PV world – by preparing to shift to auction mechanism  pv magazine InternationalProjects not encompassed by the new, central-subsidy-free, 'grid-parity' regime will be eligible to bid for a government subsidy. But, at a reported $446 million, ...
Audemars Piguet Is Auctioning off One-Of-One Royal Oak for Clean Water  HYPEBEASTAudemars Piguet's latest Royal Oak watch is being auctioned off for a good cause. Made in partnership with Cirque du Soleil founder Guy Laliberté's One Drop ...
This 1989 Mercedes-Benz 560 "Pre-Merger" AMG Is Now up for Auction  HYPEBEASTIf blacked-out Mercedes-Benz vehicles are your thing, the latest auction from RM Sotheby's is going to be of interest to you. Made in 1989, the Mercedes-Benz ...
Spectre International faces auction over Sh7.7 million debt  Daily NationBetric Ltd says its operations have been affected due to delay in settling the debt.
Where's Larry? Nampa Christian Schools, Country Fair and Auction  KTVB.comHundreds of items have donated and will be auctioned off to help fund the Nampa Christian Schools. It's all part of the annual Country Fair and Auction on Friday ...
Visit The Kung Fu Nuns Of Nepal And Other Auction Items At The Hollywood For Science Gala  ForbesBuddhist nuns practice Kung Fu at the Amitabha Drukpa Nunnery on the outskirts of KathmanduGetty. Our world is dramatically changing through global ...
HELPING HAND AUCTION | Local News  Paris Post IntelligencerThe Helping Hand radio auction raised $6014 on Monday and $7367 on Tuesday for a year-to-date total of $272185.
Buy Your Sweetheart A $500K Heart-Shaped Meteorite That Could Have Destroyed Siberia This Valentine's Day  FortuneChristie's is auctioning off a heart-shaped meteorite that crashed into Siberia's Sikhote-Alin mountains on Valentine's Day.
Manager Auctions Manager Of The Month Award In Aid Of Fishermen's Mission  Official Grimsby Town WebsiteManager, Michael Jolley is auctioning his Sky Bet League Two Manager of the Month award in aid of Fishermen's Mission.
William & Mary yearbooks show 'slave auctions' for Greek Life  Williamsburg Yorktown DailyAs politicians are poring over old yearbooks for any old indecencies, the College of William & Mary has started to do the same. College spokeswoman…
UMass Lowell To Auction Off 34-Acre Chelmsford Campus In April  Chelmsford, MA PatchUMass Lowell To Auction Off Chelmsford Campus - Chelmsford, MA - The land is about a mile and a half from the main campus and zoned for residential ...
Mexico cancels fourth energy auction  pv magazine InternationalAfter being “temporarily suspended” in early December, Mexico's fourth long-term energy auction has been cancelled. The government said the action was ...
Torrington sells downtown property at tax auction; no bids on 2nd site  Torrington Register CitizenTORRINGTON — A sparse crowd attended the city's delinquent tax auction Tuesday, where one of the two properties for sale was purchased. The former ...
Bogey Grille to host 7th annual MS Silent Auction March 11  Ponte Vedra RecorderNational Multiple Sclerosis (MS) Awareness Week will be launched locally on Monday, March 11, at Bogey Grille in Ponte Vedra Beach, with the seventh annual ...
Long Chim adds Thai spice to Auction House Market  NOLA.comLong Chim began with a craving. After moving to New Orleans, May Mananya couldn't find the food she used to eat in her native Bangkok. So she started ...
Auction Preview: Fine & Decorative Arts - Day 2 at Kingham & Orme, Evesham, Mar 1  BLOUIN ARTINFOWhat: Fine & Decorative Arts - Day 2. Where: Kingham & Orme, Davies House, Evesham, WR11 1YZ, United Kingdom. When: Mar 1, 10:00 AM GMT.
Three Lotus Carltons are up for sale… at the same auction  Top GearRace Retro sale includes three examples of the iconic super-saloon. Greg Potts. 20 Feb 2019. Facebook · Twitter · Google+ · WhatsApp · Mailto · Copy link.
Tata Teleservices offers to surrender spectrum allocated without auction  Economic TimesNEW DELHI: Tata Teleservices has offered to surrender spectrum allocated to it without auction in around 15 circles before its merger with Bharti Airtel is ...

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