Selling through Auction Marketplaces

Consumers are increasingly feeling more comfortable in buying products through the Internet. According to a report released recently by the Department of Commerce first-quarter retail sales rose 23.8 percent to US$ 19.8 billion in the United States from US$ 16 billion a year ago. E-commerce sales during the first quarter of 2005 rose 6.4 percent from the fourth quarter of last year. Forrester Research estimated that 2005 online retail sales will increase at a pace of 22 percent. Today, a third of all households in US make at least one purchase online within a year, a figure which will grow to almost 40 percent by 2009, predicts Forrester. As a seller, this strong growth of online sales means that you have to put considerable stress on your Internet sales endeavor if you are not doing this as yet.

According to statistics compiled for the Internet Retailer Top 400 Guide, the top retailers in 2004 garnered combined online sales of more than US$ 51 billion, which accounts for 58.3 percent of all US Internet sales. The growth in online sales is quite impressive for large retailers. J.C. Penny Co. Inc., for example, reported a 35 percent year-over-year rise of online sales in May, 2005. Can new online ventures boast same type of significant growth? Unfortunately, not!

Each day, there are thousands of new companies are setting up shops on the Internet trying to sell every conceivable type of products and services. Most of these websites do not attract enough visitors to make them profitable. Competition on the Internet is fierce! Internet marketing campaigns are becoming increasing expensive. Many small companies can't afford to spend money required to promote their sites. So, what are the options available for a small company with modest product range to thrive on the Internet? One of the best sales channels, in my opinion, on the Internet by far is auction marketplaces. Of course, no matter what, you will still need to promote your website with all the methods you can master. However, selling your products and services through established auction marketplaces has its own advantage.

eBay

With 63.8 million unique visitors hitting the auction site only in April of this year, eBay has established itself as the largest marketplace on earth. In 2004 alone US$ 34.2 billion worth of merchandize exchange hands on eBay. Presently, the site has around 135 million registered users in 32 markets worldwide.

With such a vast community of buyers and sellers, eBay should be your number one choice for selling your products or services online. On the eBay you can sell any kind of item. The varieties of stuffs people are selling through eBay are mind boggling! At any given time there are over 29 million items displayed on eBay. The number of new items added each day exceeds 3.5 million. However, still many offline sellers perceive eBay as an auction site for mainly collectible items. They can't be more wrong! The largest selling category on the eBay is, believe it or not, automobile and accessories, which comprises of almost 22 percent of all sales. I have, personally, bought three luxury cars over the course of last two years through eBay and I have nothing to complain about.

As a seller on the eBay, the biggest advantage that you gain is the possibility of becoming from a local merchant to an international player over night. If you are already selling merchandize to consumers online or offline, eBay gives you an additional sales channel without any extra cost. If you are planning to begin selling goods or services through the Internet, eBay allows you to start your business online quickly and with minimum expenses.

Yahoo

You may have difficulty in imagining the biggest portal on our planet as a marketplace, in some countries, like Japan and Canada, Yahoo auction is, actually, doing better than eBay. In the US market Yahoo has just announced its intention to eliminate fees charged for using its auction site. This is a good news for even many eBay power sellers. Some of them will definitely move to Yahoo in a bid to save on high fees charged by eBay. The good thing about Yahoo is slowly it is becoming a major hub for many small business web stores. As a matter of fact, according to Yahoo, every eighth online store is now hosted by Yahoo.

Amazon

Amazon, may be is not as popular as eBay or Yahoo as far as auction marketplace is concerned, however, many auctioneers claim that some of the products sell better on Amazon than any other auction marketplace.

Why should you consider selling through auction marketplaces?

Here are some reasons, why auction marketplaces are viable sales channel for businesses:

? The auction marketplaces are very popular and each of them has huge community of buyers and sellers.

? There is virtually no start-up cost involved.

? No extra overhead is required.

? You really don't have to set up a website to start selling.

? Easy to learn.

While determining what to sell through auction marketplaces, choose your products very carefully. Don't try to sell products like DVD, cellular phones and similar common items. There are way too many people are trying to sell those products. Do your research before jumping into online auctions. Go through the categories of your choice. See how your competitors are doing. Check out the listings of sold items. For how much the products you intend to list are getting sold for? What keywords your prospective competitors are using to market these products? On which auction site these products are selling better?

Go with the trend! Travel, cosmetics and jewelry sales are expected to do better than other categories of e-commerce in coming years. In every category of goods and services you will find a niche, which is doing fairly well. All you have to do is find that niche by making extensive and thorough research!

Selling through auction marketplaces like any other business process requires sound judgment and careful planning. Be sure to use them before starting your online sales.

Nowshade Kabir, is the founder, primary developer and present CEO of Rusbiz.com ? a Global B2B Exchange with solutions to create e-catalog, Web store, business process management and other features to run a business online. You can read various articles written by Nowshade Kabir at http://ezine.rusbiz.com.

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

WHEC

Storage company accidentally auctions off wrong unit
WHEC
"Life Storage's auction guidelines are very precise and in accordance with all applicable laws," Piegza wrote in a statement. "Unfortunately, in this instance, the unit was auctioned in error. We promptly contacted the buyer of the sold unit who ...


Wall Street Journal

Once-Worthless Radio Waves Get New Life in Spectrum Auction
Wall Street Journal
The Federal Communications Commission will begin the first of two auctions for extremely high-frequency spectrum licenses on Wednesday, raising cash from a type of radio wave once considered useless for wireless service. Recent technological advances ...
FCC launches first U.S. high-band 5G spectrum auction | ReutersReuters
FCC 28 GHz Band Auction Launching WednesdayMultichannel News
Federal Auction of 5G Airwaves Gets Off to a Slow Start. Here's Why (Updated)Fortune
FierceWireless -KELO AM-FM
all 56 news articles »

Forbes

Rare Stan Lee Collectibles Go Up For Auction Days After His Death
Forbes
A rare collection of works by comic book legend Stan Lee are going up for auction just days after his death. The items are part of the highly anticipated Icons & Idols: Hollywood event coordinated by Julien's Auctions, the world-record breaking auction ...

and more »

CNBC

Bidding is on for the most expensive home ever to hit the auction block
CNBC
Real estate auctions, once used for foreclosures and distressed sellers, is moving upmarket. The number of multimillion-dollar homes being sold at auction has nearly doubled in the past year, according to real estate analysts and auction companies.


Siouxland News

Hometown Farmer - Wakonda farm toy auctions
Siouxland News
"A little over $8,000 for a John Deere hay loader," said Ken Girard, of Girard Auction & Land Brokers, Inc. That's a lot money, for a little implement. "We sold this one this last weekend for $5,100, but it had been repaired, so that's what held this ...


WWD

Sotheby's Geneva Auctions Marie-Antoinette's Jewels
WWD
The Bourbon-Parma family who are descendants of Louis XIV, the Holy Roman Emperors and Pope Paul III, will be putting up 10 of the Queen of France's jewels up for sale, at a Sotheby's auction taking place in Geneva on Nov. 14. These include Marie ...
Marie Antoinette pearl auctioned for record $36m - BBC NewsBBC News
Marie Antoinette's pearl pendant has sold for $50 million at auctionVogue Australia
Marie Antoinette's jewels go up for auctionSky News
Celeb's Net -Egypttoday -Sotheby's
all 668 news articles »

Robb Report

Academy of Art University Auctions 45 of Its Cars
Robb Report
Stephens' daughter, Elisa (the school's current president), is selling a small portion of the collection during Mecum Auctions' Las Vegas sale, to be held November 15 through 17. Proceeds from the auction of these cars—which carry estimates ranging ...


Above the Law

Dispossessed After Death: The Disposition Of Tangible Personal Property, Auctions, And Estate Sales
Above the Law
In addition to the disposition of real estate, financial accounts, and royalties, a last will and testament also disposes of one's tangible personal property, or plainly said, one's things. These items are as large as cars and boats, as valuable as art ...


LA Daily News

From LA Rams jersey auctions to simply socks, donors are stepping up for Woolsey fire victims
LA Daily News
Shervin Natan gives back to the Los Angeles community by donating socks from his sock company, Ivory+Mason Socks, to the homeless almost every day. “I see how happy they are to receive the socks. It's getting colder now. It's something they need.


Reuters

German officials sound China alarm as 5G auctions loom
Reuters
BERLIN (Reuters) - Senior German officials are planning a last-ditch drive to convince the government to consider excluding Chinese firms such as Huawei from building the country's 5G infrastructure amid concerns this could compromise national security.
Germans raise China alarm ahead of 5G auctionsThe Straits Times
Espionage fears dog China's biggest smartphone makers - News.com.auNews.com.au
Trump to copy Australia's 5G ban on Chinese telcosThe Australian

all 91 news articles »
Google News

Bananas - Your Source of eBay Packing Materials!

This is the most boring stage of the process and... Read More

Just The Ticket - How To Make Hundreds Per Day As A Ticket Broker On eBay!

It should be simple - your favourite team/band/theatre play is... Read More

The Drop Shipping Business

You have suddenly found the perfect business and you are... Read More

eBay - Tapping Into The Japanese Collector Market

If you owned a skateboard shop in your local mall... Read More

The Top Ten Antique Categories On eBay!

Knowledge is Power! And this statement could not be more... Read More

Tips on How to Profit from eBay Buy It Now Auction Listings

eBay is an online auction site so it stands to... Read More

Used Cars For Sale On EBay

There are thousands of used cars for sale on eBay... Read More

Taxing Your eBay Profits

As a small business person-slash-advice columnist I dread the first... Read More

Increase your eBay Profits the Easy Way

Sometimes the simplest things can boost the number of visitors... Read More

Before You Sell On Ebay, Take The Most Important Step

If you want to earn a full-time income selling on... Read More

Selling through Auction Marketplaces

Consumers are increasingly feeling more comfortable in buying products through... Read More

Get Yourself A Piece of The eBay Pie

Ebay is without a doubt the greatest internet marketing phenomenon... Read More

A Picture Paints a Thousand Words and Creates Auction Euphoria on eBay

Ever since I sold my first item on ebay I... Read More

Selling on Ebay-Get Started in 7 Easy Steps

Ebay auctions are definitely the easiest and fastest way to... Read More

How To Sell Santa?s Slip-Ups

Shoppers spent more than $15.5 billion this Christmas on gifts... Read More

Using Paypal for eBay Purchases

Paypal is the preferred payment choice for many buyers because... Read More

Making Money On EBay Can Be So Simple, Just Let Somebody Else Do All The Hard Work For You

OK, so you've been bitten by the eBay bug!You've ransacked... Read More

Attract eBay Buyers Like Crazy!

As an ebay(TM) seller it happens very often (too often)... Read More

How Drop Shipping Works

One of the most frequently asked questions on the Net... Read More

Five Tested Ways To Find The Perfect Drop Shipper

You've heard about it many times in recent months. Being... Read More

Make Money Online: Learn To Sell On Ebay

The online auction site eBay is an excellent tool for... Read More

Do You Sell Tires By Mail? Maybe You Should eBay

I just received an interesting email from eBay and it... Read More

From Ebay Zero to Power-Selling Hero: Don?t Be That Random Ebay Guy

If I could convey only one concept to someone who... Read More

Save on EBay Fees with Free Image Hosting

Experienced sellers at online auction sites such as EBay will... Read More

Online Auction Sellers - Seize Control Of Your Business!

As the online auction model of business continues to evolve... Read More