Auctions

Vishal Singla asked:


 You have read about them, you have heard about them, you have probably participated in one. But what exactly are auctions? Isn’t it just the simple method of selling an object to interested people who bid until the highest bidder gets it?

That is definitely the scenario in most auctions. But auctions are actually more complex than people realize. Do you know that not all auctions have ascending price schemes? While the ascending bid is the most popular auction format, other formats exist such as the descending, simultaneous and handshake forms of bidding.

An auction, in general terms, is the method of allocating scarce goods. It is a unique selling method that is based on competition. Truly, the objectives are simple: the seller wants to obtain the most money for his item while the buyers want to purchase it at their own desired prices. Everything can be sold in auctions – from singular items like paintings to multiple units of a homogenous item such as treasury securities. Auctions are most useful when a seller is unsure of the price his item can get, or when selling a commodity with undeterminable quality.

Some unique things about auctions: the price of an item is set by the bidders and not by the seller. Also, the auctioneer doesn’t own the goods but rather acts as an agent for the real owner. Lastly, buyers often know the value of an item more than the seller.

Various classifications of auctions exist. There are open auctions and sealed-bid auctions. There are auctions wherein the price simple ascends and there are auctions where the price drops at regular intervals. Experts agree, however, that there are four major one-sided auction formats: English, Dutch, and First-Price sealed-bid and Vickrey (uniform second-price).

 

You may ask which type of auction is the best. It actually depends on the perspective of both the seller and the buyer. Some auction types lessen room for cheating while others seem to actually encourage such. Some auctions require the presence of the buyer while some do not. Before an auction is set, the seller must first analyze the auction format that would best benefit him. An aspect of auctioning that is sometimes very vital is speed. If the item you are selling perishes quickly, like flowers or fish, of course a quick auction is required.

While it has its advantages, an auction also has drawbacks, like the so-called winner’s curse. This is the phenomenon when a lucky winner pays more for an item than it is worth. These winners realize that their valuation of an object is higher than that of anyone else.

In this age of modern technology, auctions have found a place where it can thrive and reach more prospective buyers: the Internet. Online auctions are becoming more popular each day as buyers can browse through the products and bid at their own time and pace. Furthermore, the range of products people auction online is endless and intriguing - you could spend hours just browsing.

All in all, auctions are a pure marketplace at work in its finest form. So if you’re planning to sell something, you might consider auctioning it. Just look at it from this perspective: your clutter is other people’s treasure. And they’re going to compete to get it.

 



NATALIE

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Auction is the best way to get the right price of property. It could be for any moveable and unmovable things, material and rights or authority. Now a days auction is also running online, which is the most easy, valuable and reliable mode of auction.

Online auction is done on internet for any products and services. Online auction is the most easy and relevant type of auction which is easy to use and that can be operated from anywhere by anybody, this is convenient for those who want to sell or buy the items or property or anything. In the online auction people bid for products, things, and rights or authority.

Spread the words to your friend as we have more for you and your friends.

Actually online sites are not call for auctions or sell goods but only facilitate the process of listing and displaying good and bidding on items any pay for them. Auction sites play the role as a marketplace for peoples who are interested for the online auctions. In the online sites simply we can find the value of property, description of property and owners information which is useful for us.

There are many types of auction are used by the people but generally English type of auction is mostly used by the people in which the initial price starts low and is bid up by highest bidder. Auction could be for anything. Auction is generally the process to sell anything publically where everybody can sell or buy his property or assets. Auction could be done for any kind of property, goods, materials, and things and those who loved to those things they used to pay the highest cost of auction, and get the things. Normally we can say that auction is a good way to get the best price of your property.

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LEMUEL

Arvinder Jeet Singh asked:


Selling through online auctions is a great way to earn extra cash or even start a full-time business. When you find your one stop online auction shop that’s just right, it can become a very productive business. There are many auction websites, but you’ll want to find a site that best fits your selling needs. Here are some tips. Before listing your items, observe the auctions for a while. See what’s hot and what’s not. Every auction site will have its own unique audience. Some will attract more of certain types of buyers than other auction sites.

 

The auction company might publicize more to certain groups of people using banners or paid search engine listings. If you’re selling wholesale products, then you will naturally want to list with an auction shop that attracts wholesale buyers who are looking for great bargains. If selling household items, you’ll want an audience of people who buy household auction items. Also, observe how the site operates on a day-to-day basis. Do the auctions seem to end with more bids on certain days of the week or a certain time of the day? For occurrence, auctions that end on late Saturday night get more bids than those ending on a Tuesday night. Lurking at different auction sites will help you find a one-stop online auction shop that’s right for you. When searching for your one stop online auction shop, try several test auctions with some of your items.

 

Monitor the reply as well as the amount of traffic the listings receive during the auction’s running time. Many auction sites allow you to place a visitor counter on your auction pages so you can know how many people view your auction you can visit auction-professional.com If you sell many types of products, advertise several items from a few categories. There are many online auction shops that offer free or low-cost listing capabilities. Some auction sites only take a percentage of each sale while others may charge a fee for each listing whether you sell or not you can visit auction-words.com Those auction sites that offer free listings and/or only take a percentage of each sale are very helpful to you as a seller. You only pay when you sell items instead of paying high fees just to advertise your products, so you are taking no risk when listing your items. Though these auction sites may have smaller amounts of traffic than the larger bidding sites, you might find the savings will make it worth your while. After all, auctions are supposed to be “bargain” sites, right? Some auctions charge a fee AND take a profit of each sale.

 

These may have more traffic, but the charges add up in a hurry and every listing can become a financial risk when you’re just starting out. With so many options, you can easily find a one-stop online auction shop that fits your financial statement and listing needs. Use these tips to find that wonderful online auction shop and sell those unwanted items today!

 



ELOY

sonia sharma asked:


 If you are buying from an online auction, check the seller’s feedback and look for negative comments - although all their previous customers may have been fooled enough not to question the realism. Your choices are (a) to sell your photos yourself using software designed specifically for the task or by creating your own custom site and html code to protect your images; (b) to sell your photos on eBay or other auction sites or; (c) sell them to online stock photography sites where you get paid a part of the sale each time your photo is downloaded. What are some steps you can take to avoid being an Online auction casualty.

 In summary, when answering the question of how to sell photos online, your best bet is to go to the marketplaces in question – online stock photography sites or auction sites such as eBay and do some research. Following these basic rules will help you in the online auction world. Who would have imagined checking their bank balances online, or bidding for a camera on an online auction. Of course aromatherapy products may also be found online at various shopping and auction web sites.

Whether you have a brick-n-mortar store, online business, or eBay auction  business. This is the best option for payment after an online auction. The advertisements were limited to eBay and some other online auction websites. You can start an online auction on your website.

 Another essential detail for a successful online reverse auction is a precise reporting of the quantity that you need. EBay, for those of us who are familiar but not necessarily all knowing about it, is a giant online auction with items being posted constantly in all possible fields and topics.

Online auction services support honest business practices and try to detour scam artists; however, many are too large to police every person that sells online. You can use an online auction site like EBay or a classified ads site like  Craig’s List or Guitars for Sale Online . By involving yourself with the world’s biggest online auction you have just secured yourself an extra income.

 Com eBay is the world’s online auction place, you can auction off practically anything you own on eBay and many people do. Most online auction sites have a feedback system and it’s a great way to see if your seller has a good trading history. There are some Harley-Davidsons up for grab here but if you want quantity and wider selection, you can go to special online auction sites for Harley-Davidson. You can try to best to get what you want at other online auction sites.

 One thing to remember is that the Internet is more than just eBay and other online auction sites. Although, Knight Online isn’t a traditional RPG really, so they included a auction type of trading, so you can see other peoples items they want to see, only one person can view another persons auction at a time though. If so, carefully consider whether the pictures need to last for the next 100 years, or just until your online auction expires or your friend gets a chance to take a look at them.



CANDY

RoboBomb Auctions asked:


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The first question everyone asks:  What are the FEES?

Any fees on RoboBomb Auctions are OPTIONAL!   RoboBomb sellers can choose from a variety of listing upgrades such as Featured, BOLD, Highlighted and more.  If you wish, you don’t ever have to pay to sell on RoboBomb.com!  In fact, RoboBomb gives you a $5.00 credit to your account when you sign up.  You can use this $5.00 credit to feature your products and test the marketing value of the upgrade options for your business.  Read below for complete details on fee structure.

The second question everyone asks:  Do you get traffic?

The short answer is: YES.  RoboBomb auctions is connected to the explosive social networks such as MySpace, YouTube, and FaceBook.  RoboBomb has been online since late in 2008 yet has marked over 36,500 UNIQUE visitors as of Jan.16th 2009.



The third questions is always:  How do you expect to grow in a market with so much competition?

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LUPE

peter radford asked:


History: Continued

Popular in some parts of England in the seventeenth and eighteenth centuries, auction by candle was the preferred method for the sale of goods and leaseholds. The auction began with the lighting of a candle at which point bidding began. The process continued until the candle finally extinguished itself. The highest bid secured at this point won the auction. It was used from about 1490 to 1893 and is sometimes used even today in ceremonial events. After 1674, it was gradually replaced by the English auction. Both types of auction are ascending open auctions.

The Stockholm Auction House was established in 1674 in Sweden and is widely regarded as the world’s oldest auction house.

Shortly after the end of the French Revolution in 1799, auctions came to be held in taverns, now referred to as public houses, and coffee houses, similar to a café, with the purpose of selling art. These types of auctions were held on a daily basis, and catalogues were printed to make known the items that were available for sale. Such catalogues were normally printed and distributed before auctions of rare or collectible items, such as art, jewellery, postage stamps, and antique furniture. In some cases these catalogs were elaborate works of art themselves, since they frequently included detailed descriptions of the items, their origin, historical significance, photographs, etc.

The world’s second-largest and third oldest auction house in continuous operation is Sotheby’s. It held its first auction in 1744. In fact, the oldest auction house is Stockholm’s Auktionsverk, founded in 1674, whilst the second oldest is the Uppsala Auktionskammare, founded in 1731.

The world’s largest auction house is Christie’s, which specialises in fine art. The official company documents states that the founder, James Christie, conducted the first sale in London on 5 December 1766.

There is intense rivalry between the two eminent houses, Sotheby’s and Christie’s, for the status of the world’s most pre-eminent fine art auctioneer.

Other early auction houses of significance that are still conducting business include:

The Dorotheum, which was established in 1707, is one of the world’s oldest auction houses. Based in Vienna, it specialises in furniture, porcelain, and jewellery from various centuries.

Bonhams is a privately owned British auction house, with its first sale conducted in 1793. After Sotheby’s and Christie’s, it is the third largest auctioneer. Records show that it conducts around 700 auctions each year.

Phillips, de Pury & Company is an auction house and art dealership which specialises in the areas of Contemporary Art, Photography, 20-21st Century Design, Art and Jewellery. The company was first established as the auction house of Phillips, created in London by the young entrepreneur Harry Phillips. He opened his own auction house, in 1796, after leaving his position as senior clerk to James Christie, of Christie’s

Lyon & Turnbull is privately owned, and an auction house of international repute. Based in Scotland, it was established in 1826. As Scotland’s oldest auction house, it also holds the position as the largest independent auctioneer in the United Kingdom, outside of London. It also has the enviable status as the fastest growing auction house in the UK.

Auctions – How To Succeed

Peter Radford writes Articles with Websites on a wide range of subjects. Auction Articles cover Background, History, Types, Uses, Bidding.

Website has many more.

View his Website at: auctions-how-to-succeed.com

View his Blog at: auctions-how-to-succeed.blogspot.com

 



SAMMIE

SIZER SIAG asked:


Another technique that I have used to market a great deal of land is a public auction! A public auction can be an excellent tool for selling a lot of land very quickly and very successfully, if it is structured correctly! I’ve sold 46 lots to different individuals in one day, using an auction! For more detail go to: www.mining-auction-gold.com.

Most people think that auctions are used in distressed situations and sometimes that’s true. However, they can be used for any sale. Auctions can be conducted so that the sales prices are “absolute”, which means that any bid is accepted. Or the seller can determine the minimum bid that he would accept and inform the auctioneer, and the auction will be stopped if bids go below that figure. With an “absolute” auction, the seller is really rolling the dice but with an established minimum bid auction, there is protection. Absolute auctions are normally advertised as such but the established minimum bid auctions are not.

Since an absolute auction is an auction where there is no minimum bid established, the property is sold at any price! This is really risky and in my opinion, is not necessary. The alternative to the absolute auction is an auction where, although it may not be advertised, a minimum bid has been established. If, in the course of the bidding, the bids get too low the auctioneer stops the bidding. This way you have a minimum price set that you will accept for each lot and no lower. I’ve conducted two large auctions and they definitely are marketing techniques. They can be excellent means of selling a lot of property in a short period of time. As I have said, I sold 46 lots in one day with an auction AND we had the closings the same day!! For more help visit to www.auction-extreme-package.com.

Which I will explain later. Should you decide to use an auction there are a couple of things you need to consider. First of all, don’t let the auction company talk you into putting all your lots up for “absolute” auction. They may try to get you to do this because they say “it will bring more people out to the auction!” Don’t trust them and don’t put all your lots up for absolute auction!

Let’s suppose that you have 33 lots ready to market. You could advertised 10 lots at “absolute auction”, and then have a minimum bid established for the remaining 23 lots. Or you could simply advertise 33 lots for sale at auction. People have a real curiosity about auctions and will come out; you just have to have it set up properly. As I mentioned, the auction company may try to get you to list all your lots at absolute auction. This way they know that everything will sell and they will make more commission.



ADELINE

hello asked:


If you have searched through all of the used car lots in your area and still haven found the right car, attending an online auction event might be the solution to your automotive needs.

Capital Auto Auction holds auctions every week that are open to the public.

For more details go to: www.auction-o-matics.com there are thousands of cars to choose from at prices for every budget. Though we have auctions located in PA, MD, NH and Washington D.C., if you not close to any of our auction locations, attending an online auction even in real time is the option for you.

You can check our auction calendar and see that every month we hold at least one online auction event. From the comfort of your home and your computer, you can search our listing of available vehicles to find just what you are looking for. Information available for online auction vehicles include several pictures, the year, make and model of each vehicle, the color and current mileage and a condition report from Capital Auto Auction personnel. The location information for each online auction vehicle will be listed with the vehicle as well. The most current bid on each vehicle is listed above a box that you may enter your desired bid for the vehicle.

The online auction event makes it convenient for you to find and buy the right vehicle that fits your budget without having to travel far from home. Simply click on the featured car and you will see the live start time of the auction, its status and it most current bid. Participating in an online auction event through as easy as registering at the site. Registering at the site is fast and free. Follow the link to a short registration form. Once you have completed the form, click the submit button. A Capital Auto Auction representative will contact you shortly after and will be able to answer any questions about our online auction events that you may have. However, you may call, fax or email Capital Auto Auction with any questions you have at any time.                                               For help visit: www.auction-professional.com Capital Auto Auction will bid on your behalf up to your maximum bid as you indicate in the box provided for your bid Helloalongside the vehicle you are interested in. We always recommend that online auction bidders put in the absolutely highest bid that they are willing to pay for a vehicle in order to have the best possible chance of having their bid chosen. Bids for vehicles offered through the Capital Auto Auction online auction event are accepted in increments of one hundred dollars.

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Because Capital Auto Auction works with several charity organizations across the country, many of the vehicles available through the online auction event are noted as charity donations. Not only will you be finding the vehicle you desire at a price that fits your budget, but your vehicle purchase often will be benefiting one of the nine nationwide charities that are affiliated with Capital Auto Auction.



REUBEN

sharmamunish asked:


Auctions are a good fundraising technique that enables the communities and the non-profit agencies to raise funds for the charity. This technique is not new but has been used successfully for many years. Auctions for charity enable people to extend help to the desperate while also purchasing an item they want. Such sales offer all types of items like toys, for more details visit to www.auction-words.com cars, furniture, and more and anyone can hold this event, from huge corporations to an auctioneer out of their home.

Among the different types of auctions held some are live, some are silent while others are online auctions. Often live auctions are the center of attention for a special event. It involves an auctioneer to verbally call and sell each auction item. Live auctions work best when there are items of a special interest or are expensive. Live auctions are based on theme, which relates to the mission of the charity. Unlike live auctions, silent auctions on the other hand involve displaying the items for the auction during a special event followed with biding by the participant bid at their leisure. The silent auction is so designed that the bidders write their signature with the bid on specially prepared bid sheets near the item. Another option to keep the bid anonymous is to assign bid numbers in advance. The person with the highest bid when the silent auction officially closes is declared as the winner of the item. Online Auctions enables the charitable organizations can use the power of Internet auctions to raise funds without the need for an in person event. There are many user-friendly auction software providers that cater specifically to non-profit organizations at a reasonable cost.

Online auctions are at present considered as the best way to help the charitable organizations because they are convenient for both the seller and buyer. The great thing about Internet charity auctions is that they provide major auction websites to conduct auctions for charity from home. The only thing the auctioneer has to do is to select the charity they want to contribute to and inform their bidders that it is for that particular charity.

Whatever be the type of auctions the profit from the items auctioned goes toward some non-profit organization, small or large. Decide what type of items to auction off and the type of auction so that it perfectly fits into your organization’s overall fundraising strategy, for more details visit to www.auctions-profits.com your existing special events and the interests of your audience. Make sure before purchasing at any auctions for charity, that the auction is legit and that the auctions put their causes first in front of media attention and corporate promotion.

www.auction-words.com

www.auctions-profits.com



RICO

Mike Hall asked:


Every so often we stumble upon a website which grabs our attention. One such site is Split Second Auctions. This site (at first glance) appears to be just a venue for Live Auctions, however, once I began reviewing their Knowledge Base it quickly became clear that this company is poised to become a major contender within the Live Auction arena. Web address http://www.SplitSecondAuctions.com

Split Second Auctions is something of a hybrid, in that while it acts as a venue to drive traffic into its client based catalogs, it also offers Live Auction seller’s tools and technology to enhance the overall Live Auction experience. It would also appear as though this company is offering Live Auction sellers more “autonomy” over their event, as opposed to other competitive third party providers.

In reviewing other Live Auction platforms, we found distinct differences between the Split Second Auctions platform and other providers. On the user side, the Bidder Console is a breeze to download and install. In fact, once the console is downloaded and installed (within a few seconds) an icon, with the Split Second Auction logo (and co-branded auction seller) appears on the users desktop. One click on the desktop icon opens the Bidder Console. Once the user logs in with their username and password, they enter the auction within a split second (hence the name of the site).

The enhancements go beyond other “run of the mill” Live Auction platforms in that the Split Second Auction platform “forces” Internet bids to be accepted. In other words, an Internet user’s bids are given priority. We found that on other Live Auction platforms, Internet bids are not “forced” and many bidders find themselves clicking on their mouse (repeatedly), however, their bids are not accepted in the order in which they are received.

In some cases, we found that bids placed through other Live Auction platforms may not register at all. In other cases, it would appear that the user is clicking dozens of times to place their bids, only to find that their accepted winning bid was much higher than they had wished to bid. The “forced” acceptance of Internet bids ensures that the bids are accepted and recorded in “real time”.

A distinct advantage of the Split Second Auction platform is the option to view and hear the auction in progress. In comparing other Live Auction providers, we found that those providers can charge upwards to $1,000.00 per event for sub-second streaming audio/video feeds. We have been informed by Split Second Auctions that they do not impose additional fees (per event) for audio/video feeds. In fact, we learned that the auction seller does not even require expensive audio/video equipment – an inexpensive webcam will suffice.

Auction houses, which seek to take advantage of the global market-place, have the option to upload 2,500 lots “on the fly” and operate their auction using an extended auction window of twenty-four hours. Those houses opting for the twenty-four window may run their auction for eight hours (or as determined by the house), announce a floor intermission and then continue their auction. No doubt, auction sellers will find the extended auction window beneficial as they can cross international time zones and maximize their exposure and revenues.

The founders of Split Second Auctions have utilized various Live Auction platforms (as I came to learn in my interview with Paul Fischer – CFO of The Windsor Group). I was told that Windsor has elected to open its venue for all Live Auction sellers who seek to take advantage of the extended auction window, co-branded Bidder Console and free sub-second audio/video streaming technology. “We will aggressively market to all Live Auction sellers who operate both traditional and virtual auctions” stated Mr. Fischer.

Indeed, those operating virtual Live Auctions will have the option to participate, as long they adhere to specific rules imposed by Split Second Auctions. The site owners will require that virtual Live Auction sellers be completely transparent in the operation of their auction events and in their dealings with online users. As Fischer stated “there are many virtual auction houses, which seek an outlet in which to offer their goods to a global audience. The advantage of Split Second Auctions to such sellers is the option to broadcast through sub-second audio/video feeds coupled with real time bidding. Virtual houses will be broadcasting their feeds, accepting bids from a worldwide audience and basically operating something akin to that of a Broadcast Television Auction event.”

The idea of “if you build it, will they come” has been answered by the dozens of Live Auction sellers who are presently in negotiations with Split Second Auctions to brand their own Bidder Consoles. I spoke with seven such auction sellers in preparing this article and their consensus of the site, as a venue, in conjunction with the tools and advanced technology, could give the current leaders in Live Auction industry - a run for their money!



DEBORA