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Successful Selling through Internet Auctions - Page 2© Reginald Vickers
Two other factors you must consider are the amount of traffic for the site and the interest of the visitors. Let's say you have a rare hand carved sculptured statue of the great cockatiel (I only thought of that because our bird is sitting on top of my monitor, ready to pounce onto the keyboard.). Where would you advertise it? You might be better off attempting to sell it at an auction site that specializes in birds or folk art rather than at a general site. But if that specialized site only had 5 visitors a year, then you might be better off at a more general site. Take another example like if you have a collector's item that is the latest fad, like Beanie Babies. As you get ready to post it on a popular site (yes, like E-Bay), you find there are many more of the same furry "stocks and bonds" for sale. Check out the other bids and see if you are ok with the going rate. If so, then go ahead and place it there along with rest. But if not, check out some of the smaller general sites or sites that specialize in "Beanies".
A little hint: sometimes the items that are not bold stand out more than the ones that are because so many people use bold. What kind of auction are you going to use: a regular auction (I know there is another name for this but I can't think of it right now), reserve auction, private auction, or Dutch auction. On the regular auction you put a product up for bid, enter the minimum-starting bid, and pray. Reserve auction is where you set the minimum bid as low as you want but you're not obligated to sell your item until the reserve is met. Personally, I hate the hassel of buying from reserve auctions (A lot of people misuse them. They set the minimum at $1 or less and then have the reserve at $100. This way, they can get around paying a larger selling fee. Auction ethics say that the reserve should be no more than four times the minimum bid.). Private auctions are where the item that you sell is only between you and the person. Usually, there is no update of whom and the amount. The Dutch auction in its purest sense is when an item is set at a high price and then begins dropping until someone bids on it. With most auction sites, they use Dutch auctions for selling more than one object. Usually the lowest winning bid is what everyone gets that item for.
The copyright of the article Successful Selling through Internet Auctions - Page 2 in Online Shopping is owned by Maureen Fleury. Permission to republish Successful Selling through Internet Auctions - Page 2 in print or online must be granted by the author in writing.
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