Online Auctions: 5 Ways Your Business Can Benefit From Online Auctions

Online auctions are now the new gold rush on the internet.

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 re-bidding 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.

May you succeed in your online auctions and make a lot of money.

Warmly,

I-key Benney, CEO

I-key, a Millionaire CEO from New York City is the creator of "Mscsrrr: Millionaire Secret Cash System", (home based business) which has helped thousands of ordinary people from all over the world to attain financial security and shining success during the past 2 yrs.

Mscsrrr Millionaire Cash System helps you to generate $1,500+/Week for life, from home or office, part time or full time. No large investment or hassles. Win $1000-$2000 free "cash"?

---

8 Collectible Dolls That Sell Well on eBay

From the beginning, eBay's primary growth came from the collectibles... Read More

The 3 Minute Auction and Minute Auction Explained

Am I the only person who doesn't know what a... Read More

Is Selling On eBay Just A Hobby Or A Real Business?

Q: I made extra money selling things on eBay last... Read More

Attract eBay Buyers Like Crazy!

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

Profitable Paper Piecing on eBay -- Part 2

Basic Paper Piecing TipsHere are some tips that will help... Read More

Can You Really Make Money Selling New Release CDs & DVDs On eBay?

Being an active eBayer, I am often being asked about... Read More

eBay - Tapping Into The Japanese Collector Market

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

To eBay or NOT to eBay

FACT: eBay's Gross Merchandise Sales (GMS) 2003 - GMS, the... Read More

The Top Ten Tips For Auction Success!

If you were to look through eBay, or any other... Read More

eBay Auction Bidding Strategies--Overcoming the most Frustrating Situation on eBay

The Problem...It's happened to the best of us.You've been watching... Read More

Profit through Other Peoples eBay Errors

There are many issues that influence how an eBay auction... Read More

An Emerging Market in eBay Consignments: The eBay Trading Post (Part II In A Series)

In 2002, the eBay consignments business was born, referred to... Read More

EBay Feedback, 5 Key Things All EBayers Should Know

eBay's user feedback system is one of the site's most... Read More

Losing Sales By Overcharging For Shipping And Handling

As a serious seller on eBay you're familiar with their... Read More

Finding Antiques And Collectibles To Sell On eBay

Many people who decide to make a living selling collectibles... Read More

How To Cut Your eBay Fees By More Than 90%

Now, are you ready for the REAL TRUTH about selling... Read More

How to Win on eBay

I've bought over 100 items on eBay over three years... Read More

Auction Image Hosting for Ebay Auctions: Free Single Most Recommended Tip

It is a well known fact that the more pictures... Read More

Taxing eBay Part Deux

When my column on paying income tax on eBay profits... Read More

So What Are YOU Going To Do About eBays Fee Increases?

Unless you have been hiding under a rock, I am... Read More

Boosting Your EBay Auction Profits: Just Add Audio

According to a recent report, adding audio to your eBay... Read More

How To Profit Using eBays Saved Search Feature

Did you know that eBay will help you locate products... Read More

Your Junk is Another Persons Gold

Saving money can be quite hard to do if you... Read More

Making Your Auction Business Stand Out From The Crowd

When my sons were growing up they started playing hockey... Read More

Get Yourself A Piece of The eBay Pie

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

Image Hosting For Online Auctions

Use eBay picture service or host your own photos?If you... Read More

eBay Gold

Internet auctions are relatively new having been around since the... Read More

How To List Your Items On eBay

Listing your items on eBay can be very confusing if... Read More

The Powerful eBay Bidding Strategy That Claims A 99% Success Rate

Don't you just love it?You've found that special item on... Read More

The Down Side Of Using Dropshippers In The Ebay Auction Arena!

Ok, let me just say right up front that I... Read More

How To Save Franchise Fees and Set Up Your Own Ebay Drop Off Store

There has been a flood of publicity generated regarding the... Read More

Doing It eBay: An eBay Business Means Fun and Profits in a Global Marketplace

In 1995, when Pierre Omidyar introduced an online business venue... Read More

E-bay Auctions: Sell Better, Spend Less Tip #1

Just about everyone alive today has heard of E Bay.com,... Read More