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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President-elect Barack Obama gestures during a news conference at his transition office in Washington, Wednesday, Jan. 7, 2009, where he introduced Nancy Killefer, not shown, to the newly created position of chief performance officer. (AP Photo/Lawrence Jackson)AP - President-elect Barack Obama said Wednesday that reforming massive government entitlement programs — such as Social Security and Medicare — would be "a central part" of his effort to control federal spending. Obama made the pledge but provided few details as he named Nancy Killefer as his administration's chief performance officer, creating a new White House position aimed at eliminating government waste and improving efficiency.



Palestinians pray over the bodies of  people killed near a United Nations school Tuesday, during their funeral in the Jebaliya refugee camp, in the northern Gaza Strip, Wednesday, Jan. 7, 2009. Israel's military paused its Gaza offensive for three hours Wednesday to allow food and fuel to reach besieged Palestinians, and the country's leaders debated whether to accept an international cease-fire plan or expand the assault against Hamas. With criticism rising of the operation's spiraling civilian death toll and Gazans increasingly suffering the effects of nonstop airstrikes and shelling, Israel's military said it opened 'humanitarian corridors' to allow aid supplies to reach Palestinians.(AP Photo/Hatem Moussa)AP - Israel resumed its Gaza offensive Wednesday, bombing heavily around suspected smuggling tunnels near the border with Egypt after a three-hour lull to allow in humanitarian aid. Hamas responded with a rocket barrage.



Illinois U.S. Senate Appointee Roland Burris smiles as he meets with Senate Majority Leader Harry Reid of Nev. on Capitol Hill in Washington, Wednesday, Jan. 7, 2009. (AP Photo/Susan Walsh)AP - Roland Burris said Wednesday he should be able to join the Senate "very shortly," after talking to newly supportive Democratic leaders and working on lingering legal obstacles. Talking to reporters on the second day of a Washington power odyssey that would intimidate many, the 71-year-old Burris declared himself happy and said he was pleased with his meeting with Sens. Harry Reid and Dick Durbin.



President-elect Barack Obama is welcomed by President George W. Bush for a meeting at the White House in Washington, Wednesday, Jan. 7, 2009, with former presidents, from left, George H.W. Bush, Bill  Clinton, and Jimmy Carter.  (AP Photo/J. Scott Applewhite)AP - Confronting a grim economy and a Middle East on fire, Barack Obama turned Wednesday to perhaps the only people on the planet who understand what he's in for: the four living members of the U.S. presidents' club.



New Mexico Gov. Bill Richardson answers questions from the press regarding his withdrawal as the nominee for secretary of the Commerce Department Wednesday Jan. 7, 2008 in Albuquerque, N.M. (AP Photo/Craig Fritz)AP - One of Gov. Bill Richardson's close friends and advisers worked as a consultant for the California firm at the center of a federal pay-to-play probe that derailed the governor's appointment as commerce secretary.



Republican Norm Coleman along with his wife Laurie and several supporters announces he is suing to challenge the results of the U.S. Senate recount during a press conference Tuesday Jan. 6, 2009 at the State Office Building in St. Paul, Minn.  Coleman lost the recount to Democratic  candidate Al Franken by 225 votes. (AP Photo/Dawn VIllella)AP - Minnesota's grueling U.S. Senate race, already dragging on two months past Election Day, has now moved even further from the voters — and into the hands of lawyers.



This undated handout illustration provided by The Johns Hopkins University shows the massive 30-foot wingspan of the toothless pteranodon, left, was surpassed by that of Hatzegopteryx, right, at 40 feet or more. Pterosaurs, sometimes weighed more than 500 pounds, and yet they soared above the other dinosaurs. Experts couldn't figure out how  because no bird can get that big could get off the ground. A new study has figured out how they did it: By leaping into the air from all fours - unlike any other flyers in history (except the vampire bats). (AP Photo/Johns Hopkins University, Mark Witton)AP - The Jurassic version of jumbo jets — huge flying creatures weighing hundreds of pounds — is a mystery of dinosaur-era flight: How did something so big get off the ground? A Johns Hopkins University biologist thinks he has figured out the answer.



In this photo provided by the University of North Carolina at Chapel Hill School of Medicine, Shannon Eubanks, left, her new baby Kathleen Conley Eubanks, and husband Gaston Eubanks share a moment in the hospital in Chapel Hill, N.C. Tuesday Jan. 6, 2009. Eubanks waited until she reached the 39th week of her pregnancy to schedule a Caesarean section to deliver her daughter. A study in the Jan. 8 issue of the New England Journal of Medicine shows that babies have fewer health problems if planned C-sections are done during the week before the due date. (AP Photo/University of North Carolina at Chapel Hill School of Medicine, Stephanie Crayton)AP - Babies do better after a scheduled Caesarean section if they're born no sooner than seven days before their due date, a new large study of U.S. births shows. Those delivered earlier had more complications, including breathing problems, even though they were full term, the researchers reported in Thursday's New England Journal of Medicine. Even just a few days made a difference, they said.



AP - An eastern Pennsylvania man may face up to 37 years in prison for tearing open a neighbor's door with a chain saw. Police say 34-year-old Robert Kane began sawing through the front door of Jamie Zaleski's apartment in Scranton while Zaleski and several friends ran out the back.

In this Nov. 30, 2008 file photo, New York Jets coach Eric Mangini looks up at the scoreboard during the fourth quarter of an NFL football game against the Denver Broncos at Giants Stadium in East Rutherford, N.J. The Cleveland Browns have agreed to hire Eric Mangini as their head coach, a person with knowledge of the negotiations told The Associated Press, Wednesday, Jan. 7, 2009. (AP Photo/Bill Kostroun, File)AP - The Cleveland Browns have agreed to hire Eric Mangini as their head coach, a person with knowledge of the negotiations told The Associated Press. Mangini, fired last week by the New York Jets, reached an agreement with the club Wednesday, said the person who spoke on condition of anonymity because Mangini's contract has not been finalized.



President Bush greets President-elect Barack Obama at the White House, November 10, 2008. (Joshua Roberts/Reuters)Reuters - The U.S. budget deficit will swell to a record $1.186 trillion in fiscal 2009, congressional forecasters said on Wednesday, the result of an economic recession that has cut tax receipts and caused massive government bailouts of banks and automakers.



An Israeli soldier jumps off an armoured personnel carrier (APC) after crossing into Israel from the northern Gaza Strip January 7, 2009. (Amir Cohen/Reuters)Reuters - Israeli aircraft and tanks pounded the Gaza Strip on Wednesday and troops battled Palestinian guerrillas on the ground as U.S. backing for a proposed truce raised expectations of an end to the 12-day-old offensive.



United Auto Workers (UAW) President Ron Gettelfinger (C) addresses the media as UAW Vice-Presidents listen at the UAW Solidarity House in Detroit, Michigan December 12, 2008. (Rebecca Cook/Reuters)Reuters - United Auto Workers bargaining teams are arriving this week in Detroit as the union gears up for negotiations with General Motors Corp and Chrysler LLC, which are mandated to cut labor costs under a $17.4 billion federal bailout.



Senate-designate Roland Burris talks with Senate Majority Leader Harry Reid in Reid's office on Capitol Hill, January 7, 2009. (Larry Downing/Reuters)Reuters - In an abrupt switch, Democratic leaders began talks on Wednesday to swear in Roland Burris, appointed by embattled Illinois Gov. Rod Blagojevich to replace President-elect Barack Obama in the U.S. Senate.



Eggs are stacked up at an egg farm in San Diego County, July 29, 2008. (Mike Blake/Reuters)Reuters - An outbreak of salmonella food poisoning has made 388 people sick across 42 states, sending 18 percent of them to the hospital, U.S. health officials said on Wednesday.



A man walks past a store advertising a sale in Virginia, November 28, 2008. (Larry Downing/Reuters)Reuters - Job losses and plans to lay off workers hammered the struggling U.S. economy in the final month of 2008, according to private reports that could foreshadow surprisingly grim labor market data from the government on Friday.



A door gunner on a U.S. Army Chinook helicopter keeps a watch on the terrain during a resupply mission in eastern Afghanistan December 25, 2008. (Bob Strong/Reuters)Reuters - Defense Secretary Robert Gates has told Congress that a planned buildup of U.S. forces in Afghanistan could add $5.5 billion to U.S. war costs in the current federal fiscal year, officials said on Wednesday.



Bernard Madoff is escorted in a vehicle from Federal Court in New York, January 5, 2009. (Lucas Jackson/Reuters)Reuters - One of the packages accused swindler Bernard Madoff sent in violation of a court order contained about 13 watches, a diamond necklace and other valuables worth more than $1 million, prosecutors said in court papers released on Wednesday.



Smoke billows following an Israel air strike in Rafah near the Gaza Strip's border with Egypt. Israel on Wednesday approved an even tougher war on Hamas, warning residents to flee southern Gaza ahead of planned bombing of cross-border tunnels, as the Palestinian death toll passed 700.(AFP/Said Khatib)AFP - Israel on Wednesday approved an even tougher war on Hamas, warning residents to flee southern Gaza ahead of planned bombing of cross-border tunnels, as the Palestinian death toll passed 700.



An employee makes a routine check at a natural gas control center of German E-On Natural Gas Storage Closed Company Limited in Hajduszoboszlo, more than 200 kms east of Budapest, Hungary. Russian President Dmitry Medvedev on Wednesday laid down terms for a resumption of Russian gas shipments via Ukraine to Europe as tens of thousands of Europeans suffered heating cuts amid freezing weather.(AFP/Attila Kisbenedek)AFP - Russian President Dmitry Medvedev on Wednesday laid down terms for a resumption of Russian gas shipments via Ukraine to Europe as tens of thousands of Europeans suffered heating cuts amid freezing weather.




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