Shop Auctions - Bypass the Crowds this Holiday and Shop Auctions

Christmas is fast approaching. And with Christmas comes that time for massive present shopping. However, I'm here to tell you that how easy it is to shop auctions and not deal with the mall crowds and traffic jams that come with the Christmas season. You can actually stay home and shop for the holidays in your pajamas!

If you shop auctions, you can buy gifts with a breeze.

Let's take a look at how it works.

Auctions allow you to search by specific category or product. It's also a great place to get great gift ideas from. Take for instance a birthday gift that you recently bought. In most auctions, you will have a search toolbar. So just type the product name or category in and see the vast selection of items available. If you get too many results, narrow your search down and sort by product name or price.

You haven't purchased on the internet before? Are you hesitant about fraudulent activity? I was too. But most reputable auctions keep a history on everyone that sells on their site. You can review their feedback and see how active they are. It really is one of the safest options on the internet. I personally have had a great experience shopping auctions.

If you plan to shop auctions for your holiday shopping this year, don't wait until the last minute. The bidding prices will be much higher during this crunch time because people start to panic, plus you will risk not getting your item by the holiday deadline.

If price is not an issue then you are in luck when a company comes out with a new video game system or hard to find toy. They're hard to find in retail stores, but when you search on auctions such as eBay there is plenty of supply to bid on. At this point you know you are going to pay premium price. It is the natural law of supply and demand at work here. Some are willing to pay top dollar for something just to make sure their kid will have it first. But it still won't be a guarantee of receiving it before Christmas. Avoid this potential problem by shopping auctions earlier than later.

The holiday season is the premium time for auctions sites because thousands of shoppers have opted for internet shopping and it's gained popularity over the years. An important tip to remember is that this is still an auction site. So make your bids carefully. Many times, people new to shopping on auctions are so anxious to win the product, they end up driving up the prices and paying higher than normal pricing. I have seen this time and time again.

No matter how anxious you are, the auction will not end early. Another thing is make sure to check all details of the auction before placing your bid. And please don't forget to also check the cost and method of shipping that's listed in the auction. Many, including me have gotten caught with huge shipping bills because I did not check the costs before winning the bid. If you get too caught up in the competition, you may end up paying way too much for the product when you factor in shipping cost.

Now if you want to avoid the auction process altogether, you can seek out the "Buy It Now" items. You can easily only view the list of "Buy it Now" items by using the search bar. You can use this purchasing option to avoid the bidding game. Just remember, the closer you get to the holiday season the more you will see the "Buy it Now" options. Auction sellers know how to appeal to us last minute shoppers.

Two other popular options include delayed payment, gift wrapping. Whatever options you choose, make sure that you enjoy the experience. And don't forget that shopping auctions allows you to avoid the mad rush at the mall.

Source: http://www.artipot.com/articles/68988/shop-auctions-bypass-the-crowds-this-holiday-and-shop-auctions.htm

Shop Discount Travel Auctions for Bargains

I have a bit of a reputation among my close friends and family members, that of being somebody that loves to vacation. In fact, if I had things my own way, I would likely be vacationing much more often than I was at home. It really does not even matter what type of vacation I am taking, regardless of whether it is visiting a neighboring town and staying in a hotel or going on a cruise for a week or longer, I am going to enjoy myself. Of course, along the way I have amassed quite a bit of knowledge about finding the perfect vacation and doing so at a price that was affordable. None of them were quite as affordable, however, as when I discovered how to use a travel auction to save money. One of the things that I really have enjoyed about using a travel auction is the fact that it was rather unique when compared to other bidding sites. I have been on the Internet for quite some time and I have used all types of penny auction websites, as well as some of the more popular types of bidding sites, such as eBay and craigslist. When I found a travel auction website, however, I was completely blown away by the number of different choices that were available. In fact, my first experience with this type of auction got me a vacation that I had never even considered taking before, and I had a wonderful time. Since I first discovered the travel auction websites, I learned how to use them effectively to save the most amount of money possible. There are some things that you should know that can help you to do the same. First of all, not all bidding sites that offer vacations are going to stack up equally, as there are some significant differences in the way that they operate. One of the ways that they are different is that some travel auction websites will take your bid, but they will not reimburse you if you do not win that bid. That can add to additional expenses that are not going to help you save money in any way, shape or form.

Another thing that I noticed about using the travel auction is the fact that you need to be ready to bid on something at a moments notice. When you see an auction appear that you want to take advantage of, begin the bidding and continue to keep up on the bidding, as that may frighten the other bidders away. Additionally, you should ensure that you are available for the end of the bidding, as that is when the majority of the penny auction action is going to take place.

Some travel auction websites will also limit you to a larger extent than others as far as the bidding options that are available. One of the top auction websites that I have found, ubidugo, did not place any unnecessary demands on their members, but rather, gave a flat 24 hours for the bidding to begin and began all of the bidding at zero dollars. This helps level the playing field and gave me the advantage, especially with my experience with online auction websites. Another significant difference is the fact that when you use ubidugo, you are not in the dark about who you are bidding against. You are not only able to see the total bid at any given time, you are able to see who you were bidding against and who is winning the race.

Another fun thing that I can say about ubidugo is the fact that when it got down to the final minute of the penny auction, each bid extended the length of time by 15 seconds. It was a lot of fun to see all the bids come flying in and know that I was only putting in a penny at any given time. All that is really necessary is for you to stay on top and to be at the top when the time runs out and you will be on your way to a fantastic, inexpensive vacation.

Source: http://goarticles.com/article/Shop-Discount-Travel-Auctions-for-Bargains/6261023/

Selling Your Car at Auction - A Beginners Guide

With many people struggling to make ends meet and TV adverts with catchy jingles tempting you to sell your car for quick cash, it can seem appealing. Your car (next to your house) is probably your most expensive piece of equity and with this in mind, it can be tempting to sell it, purchase a cheaper make or model and pocket the difference.

Car auctions, whether they be physical or on-line, can be a good way of selling your car, safe in the knowledge that an experienced auctioneer has yours, and the auction house's, best interest at heart. You may think that these things do not always necessarily go hand in hand but bear in mind that the auction house will take a percentage of the purchase price (buyers fee) as commission so it is in their interest to get you as much money as possible!

So, let's start with the basics:

What is a car auction?

Car auctions have a long history within the automotive industry with many different types of business using them to either sell excess stock or purchase new stock for resale.

They are extremely popular in the USA and Japan and are gaining popularity in the UK where they are no longer seen as dirty places. This is mainly thanks to the industry making a concerted effort to change the reputation of the sector and make it more appealing to all people, not just those 'in the trade'.

Car auctions sell cars, commercial vehicles, motorcycles, plant equipment, and some of them will also sell large goods vehicles and possibly caravans and motor homes.

Auction houses do not own the vehicles which they sell. They merely act as a shop front for many different types of seller. These can include leasing companies, fleet management companies, dealer groups, banks and financial institutions, governmental bodies, police, and of course private individuals.

Let's look at each of these different sellers more closely:

Leasing Companies

Leasing companies rent vehicles to companies or private drivers for a set period of time (sometimes as little as 1 year) so the vehicles put into auction are usually young models with a good mileage and because the cars are usually leased from new, they may have only had one person driving them whilst going to a meeting twice a week! When the lease or rental period ends, leasing companies will enter their old stock into auction as their customers are more interested in leasing brand new vehicles. These companies are usually owned by banks or financial institutions.

Fleet Management Companies

These are similar to Leasing companies in that they lease their stock to organisations but differ in that they will supply their customers with a whole fleet of cars and manage that fleet on behalf of their client. Again, when the rental period for the fleet ends, the companies wish to take advantage of the capital wrapped up in their stock in order to replace it with new models.

Dealer Groups

If you have ever part exchanged your old car at one of the large, glass fronted dealers or showrooms, chances are it has subsequently been put into auction and sold. Dealer groups will also enter old or unsold stock (known as overage) from their forecourts in order to keep their showrooms looking fresh with the latest that the manufacturer(s) have to offer. Of course, buying a vehicle at auction which has been entered by a dealer group can be a bit riskier than the leasing or fleet companies as if someone has part exchanged their old car, you have to ask yourself why did they do it, what sort of person where they, how well did they keep it and how many previous keepers has it had?

Banks and financial institutions

Banks and financial institutions can fall into fleet and leasing companies as many of them have these elements within their respective corporate families and follow the same trends. However, banks can also enter cars into auctions that have been repossessed from their customers after defaults on loan or mortgage repayments. Obviously a car itself is of little or no interest to a bank, they are only interested in the value and the money which can be made from it.

Governmental bodies

Government bodies will run fleets of cars for their staff and key executives and will update this fleet on a regular basis with the old stock being put into auction. Separate Government departments will also enter a wide range of vehicles at auction from ex-defence Land Rovers or staff cars, to lawn mowers and diggers used on the local playing fields or in the local cemetery! Local Government may also enter cars into auction that have been seized by bailiffs follow non payment of bills such as Council Tax (depending on the Local Authority in question, these can be quite high end models).

Police

Police forces will auction vehicles seized from convicted criminals to either compensate victims, break up an illegal estate or regain public money gained fraudulently. The police also auction a variety of other items seized for similar reasons and may do this through an auction house or by holding their own property auctions. As well as these lots, all police forces will also run a fleet of undercover or unmarked vehicles and these will need to be constantly updated, with the old stock being put into auction to raise funds for the force.

Private individuals

This is the category of seller that we are really interested in. Private sellers can enter and purchase cars from auction and if their car is not sold first time round, they can tell the auction house to keep putting it in until they receive an acceptable bid. Be warned though, auction houses will charge you for each time they enter the car so if you have sold your car after a couple of sales, you may want to check your reserve price or rethink your options.

How does it work?

Most auctions work on the same principal; your prospective buyers bid against one another, raising the amount which they offer with each new bid they make until their competitors drop out and they are left as the highest bidder. All of your bidders will be in the auction hall (although an online element is becoming increasing popular) and all bids are made in the open. This type of auction is known as an 'English Auction and its formula applies to the majority of vehicle auctions.

When your vehicle arrives at the auction centre, it will be inspected by the auctions technicians who will highlight any scratches, dents, scuffs, rust, etc and value the overall damage costs. It can be important to consider this when you think about your reserve as trade buyers will have a good idea of the vehicles value and of the damage costs and will factor this into their bidding. The damage cost will not be shown to any buyers, it is purely for the auction house's records.

Your car will then be photographed and 'lotted', the process whereby your car is entered into a sale. It will be assigned a lot number and will be placed in the auctions yard to be viewed by the buyers.

At the same time, your vehicles details will be published online for buyers to look at before they arrive at the auction. This is a good way of building interest in your car and most auction houses will send our copies of their latest catalogues to their buyers.

You should do your best to ensure that you car is entered with all of the paperwork and material which you have relating to it:

• V5c Registration Document
• Hand book
• Any other manuals (SatNav, radio, etc)
• Service book
• Historic garage receipts of details of work carried out
• Locking wheel nut key (if your car has one)
• Any other information or items that came with your car when you bought it

All of these things are important to buyers and if you were buying a car, you would expect to have everything that you could have relating to it so think of these when you enter your car.

Of course, you will also have to leave your key and any spares with the auction.

In the auction halls...

When your vehicle is lining up to be driven into the auction halls, buyers will start to look closely at the car, looking for any damage and they may open the doors to look at the interior. Buyers are not usually allowed to test drive cars or look under the bonnet so this process of final inspection is important to them.

Once your car is in place in front of the auctioneer, the cars details and any special features, such as extra interior features, alloy wheels, etc, will be read to the audience. The auctioneer will then start the bidding with an opening bid below your reserve. If there is a great deal of interest in your car, bids can rise fast with many people competing. Eventually, the auctioneer may drop the increases in size to amounts that the last couple of bidders feel more comfortable with. This could mean that you see increases of £50 for your car rather than the £500s you were seeing right at the start. The buyer with the final highest bid has now bought your car as long as their highest bid was over your reserve. At this point the buyer has entered into a legal contract.

If the final highest bid did not quite meet your reserve, the auctioneer may class this a provisional bid and the auction will then attempt to negotiate between you and the buyer. At this point, you can ask for more money or demand that your reserve be met. If you go too high and the buyer pulls out, the sale will fall through. It is a balancing act between what the buyer is prepared to offer and the minimum amount you are willing to accept.

If you reach an agreement, the sale will go through as normal.

If agreement cannot be reached, you have the option to take your car out of future auctions and keep it, or enter it again in the hope of getting a better bid. Hopefully this won't happen and you will sell your car but if you have to consider this you should remember that many auctions are used by motor traders who attend most weeks and if they see the same car go through each week, they will be less inclined to offer a high bid. Auctions will also charge you for each time you enter your car, with some also charging storage after a certain amount of time and sales, so you should consider these costs when thinking of the money you intend to make from the sale.

How much will it cost?

The fee to enter your car in an auction can range from £15-£30 depending on the size and reputation of the auction house and will be deducted from the total sale value of the car. This fee will be payable each time you enter your car in to a sale if it does not sell.

On top of this, there will also be commission deducted from the sale price. This will be on an increasing scale and will depend on the sale price of the vehicle in question. Always check with the auction house before you enter your vehicle and shop around the auction houses local to you to get the best deal.

After the sale

Assuming that a deal has been reached or that your vehicle sold straight away, the auction will not give any of the vehicles paperwork to the new buyer until full payment has been made. Once this happens, the auction will pass all material relating to the car to the buyer.

Most auction companies will also deal with the legal change in ownership on your behalf and will communicate the sale to DVLA Swansea with the vehicles V5c Registration Document on your behalf, as you do not know the buyers details. Some auctions charge for this service so check at time of entry.

Car auction companies are usually pretty quick in sending you the money for your car and can be as quick as a couple of days after the sale, usually by cheque or bank transfer. The entry charges and commission taken by the auction will usually be details on a remittance advice sent to you once your money has been sent to you.

Other things to consider:

When you are thinking of putting your car into an auction, you may want to think of these things which can increase your chances of getting a sale:

• Is the interior clean?
• Having crisp packets, drinks bottles or cigarette ends n the ashtray is not appealing and you would not by a car like that so why would anyone else?
• Do you smoke in your car?
• If you smoke in your car, try to banish the smell of stale smoke as best you can. Smoking in cars can also lead to burns on seats, trim and just about anywhere else so be aware of them.
• Have you got a complete or good service history on your car?

Buyers look at the service history on your car to see how it has been kept. A good service history usually mean that the rest of the car has been looked after properly. Main dealer stamps are highly sought in service history but your local approved garage will suffice.

Is there any tax left on your car?

Selling a car with tax allows the buyer to drive away with that car on the day they bought it. If your car does not have tax, they buyer will need to insure it, then sort out the tax before they can drive it. Since auction houses will not pass any vehicle documents to the buyer before full payment is made, this can lead to a great deal of hassle for the buyer as they will have to go away, sort the insurance, come back and pay for the car, go away and sort the tax (now that they have the MOT certificate), come back and finally drive away.

Trade buyers buying many cars will not worry about the hassle factor too much as they will get their new cars delivered by transporter, it mainly matters to them for the resale value which tax can add onto their forecourts.

When does the MOT run out (or does it even have one?)

Selling your car with MOT gives your car a boost in auction as buyers will just see it as an added expense if it does not have one. Your buyer will also need to have a valid MOT before they can ensure the car!

Are there cosmetic things that could be tidied or corrected before you enter it?

Are there stains on seats or interior trim that can be removed? Is there a brake light bulb that could be replaced? Are there stickers on the windows that could be removed?

Is it worthwhile sorting out that scratch before you enter it?

Getting a small scratch or dent repaired before you enter your car can increase the chances of it selling as it will not be noted on the damage report (as long as it is a good job!)

Do you have a spare key, SatNav disk, or old garage bills in the back of a cupboard somewhere?

You should do your upmost to ensure that you give everything associated with your car to the auction along with your vehicle. Things like spare keys add to the value and old garage receipts let your buyer know exactly what has been done, added, changed or mended to their new car as well as who done it.

Obviously, if your car has built in SatNav, you should include the disk for this along with any instruction manuals.

Remember, auction houses will inspect your car and so will our buyers sonly sort out scratches or other problems if you feel you can be a good job of it otherwise it just means that someone else has to redo your attempt meaning more cost and time!

This article is only meant as a guide as all auction companies have different processes, fees, client base and ethos but I hope that this article has given you some insight into the considerations of selling your car, van, lorry, tractor (or any other vehicle) at a car auction and if you do decide to follow this route, good luck!

Article Source: http://EzineArticles.com/6454812

Car Auctions in Japan: An Overview for Car Importers

Car importers know that car auctions in Japan are a great place to find low mileage, high quality used cars at good prices. My aim in this article is to help you understand these car auctions in Japan better so that you can make a good, informed decision about whether to buy from them or not, and how the whole process works.
Why consider buying from Japanese car auctions?
This is a good place to start. After all, right now where you sit reading this article is probably many thousands of miles away from Japan. So why would you want to import cars from a country so far away?
There are two excellent reasons to consider buying cars from used car auctions in Japan.
First of all, the selection is immense and you can view all these cars remotely online. Auto auctions outside Japan may typically have a few hundred used vehicles, but only the tiniest auction in Japan would have such a pitiful selection.
In terms of individual auction locations, we are usually talking about over 1,000 cars per location, and sometimes over 10,000 cars (in the case of USS Tokyo) all in one place and being auctioned there weekly. Put all these individual car auctions together on the Internet, and over 30,000 on a single day is really not at all unusual.
So there is a huge breadth of choice. But that is not all. There is also a great depth of quality. The fact is that Japanese people just do not drive as much as people in other countries. An excellent public transport system and high levels of neighborhood walkability, in addition to the simple fact that urban driving speeds in Japan are incredibly low, all works together to keep people from using their cars very much.
Then on top of this the Japanese are fastidious in caring for their vehicles and yet it does not take long before the car they have seems old to them and they want a new one.
So, cars that are low mileage and well maintained are a dime a dozen. But the ironic thing is that the Japanese themselves are really not into secondhand items, so they don't really want these used cars for themselves.
You can see where this is going: The car auctions in Japan have a great selection of great condition, low kilometer cars, but the Japanese people are really not that interested in buying them, so prices are relatively low and there is all the more opportunity for buyers from outside Japan to compete.
Car auction groups and locations in Japan
In Japan individual auctions are rare. They are usually part of a larger auction group. Here are just some of the more prominent groups:

• USS
• TAA (Toyota)
• Honda
• JU
• JAA
• CAA

USS Tokyo is the largest single used car auction location in Japan. This car auction runs once a week on Thursdays, and at peak season can have up to 20,000 vehicles all being auctioned on one day.
One auction group that does not have multiple auction locations (called kaijo in Japanese) is Aucnet, who hold their auctions on Mondays. Their model is a little different in that they do not have a physical auction house where all the cars are gathered.
Instead, they send out inspectors to car dealers who then keep their cars on their lots until they are sold. Since these dealers are still hoping to sell to a regular consumer at retail price, their reserve price at auction is often a little high compared with what a similar car might fetch at a regular auction.
How can you access the car auctions in Japan?
So far, so good. But wait a minute: How on earth are you going to be able to get a car from some used car auction way over there in Japan? You don't know anyone there. You don't speak Japanese. Even if you could buy the car, how would you ship it?
You need a Japanese car exporter to help you with this one.
Car exporters in Japan are set up to handle the process of bidding at the Japanese car auctions, transporting the car from the auction to the port, doing the paperwork and shipping the car over to you.
There are many car exporters shipping used vehicles from Japan, so this then begs the question of how you find yourself a good one. After all, we are not talking about trivial sums of money here, so it is vital you find one who is going to do a good job for you.
Here are some things to look for:

• How many auctions can you buy from, and can you access them all from one place online?
• Can you deal with a native English speaker who is also fluent in Japanese? (Nothing is more stressful than trying to overcome language barriers.)
• Does this exporter offer professional translations of the car auction inspector's reports and help you really understand the condition of the cars in the auction?
• Does the exporter in Japan have good communication skills, keeping you in the loop about what is happening with your vehicles so you don't worry?
• Does the exporter work hard to ensure your cars get to you from the car auction in Japan as quickly as possible?

Who will bid for you at these car auctions in Japan?
In order to buy from a car auction in Japan, the first thing you need is to be a member of that auction.
This usually entails being a registered business in Japan as well as having property as collateral and having a guarantor. This precludes regular consumers accessing these car auctions directly, so they tend to be a place where Japanese car dealers and Japanese car exporters buy at wholesale prices.
Japanese car exporters are usually registered Japanese companies and therefore have access to the car auctions in Japan.
Japanese car auction vehicle inspections
Car auctions in Japan have a strict inspection regime. Obviously the quality of the inspection can vary a little between auction houses since they are independent companies, but in general the grading system they use is very similar and easy to understand.
The cars and other vehicles are registered for the following week's auction, after which they are inspected by inspectors who are qualified mechanics.
Now, it is important to bear in mind that these inspections are very thorough, but they do not involve any dismantling of the vehicle, nor do they involve test-driving it. They will often pick up mechanical issues very well, although problems which would only come to light if the vehicle is driven at anything more than the kind of speed you would expect in a parking lot can be missed. This is no fault of the inspectors, just a limitation of an inspection that does not involve a road test.
The inspector writes his report on an auction sheet. He gives the car an overall grading as well as a grading of the interior quality. He also writes details of issues that he has found. Some comments he writes in Japanese, and then issues like scratches and dents that relate to the car's exterior condition, he writes on the "car map" - a diagram of the exterior of the car.
Remember you should not need to just rely on the overall grading when buying from Japanese car auctions: A good car exporter should give you detailed translations and help you understand what the Japanese car auction inspector has written on his report.
How does bidding work in these car auctions in Japan?
As we have noted above, only members of these auto auctions can actually bid. They do so in two ways: Either at the auction location (kaijo) itself, or online from anywhere.
The computer bidding system is the same whether bidding at the auction house on one of their machines or remotely online.
Bidding is very fast. Generally a car will be sold in anything from 10 to 45 seconds or so. The actual process may just look like pressing a button in a video game, but there is a real art to doing it right to avoid paying too much for a car - or equally letting it get away by holding back too much.
Sometimes cars will fail to meet their reserve price and bidding is stopped. It is then possible to make offers to the seller under the auspices of the car auction. Fewer cars sell in negotiation like this than are sold in live bidding. A good Japanese car exporter will handle the process of live bidding and negotiation seamlessly to get the best deals for his customers.
What happens after the car is won at auction?
After a car is bought at a Japanese car auction, the first thing that happens is that it is moved by car transporter to the port. Once at the port, the car waits to be loaded onto a RORO ship, or waits to be loaded into a container.
While the car is in transit from the auction, the car exporter will immediately start looking for bookings on the earliest ship, as well as doing paperwork to de-register the car and pass it through Japan-side customs.
Once on a ship, the car will take anything from a few days to over a month to reach its destination. This is mainly dependent on the distance of the destination country from Japan.
The car exporter will send the end customer the Bill of Lading, invoices, the de-registration document and any other documents that the customer requires for importing the car into his or her country. These import regulations vary from country to country so it is vital to check them before buying anything.
Conclusion
Car auctions in Japan can be a great place for car dealers and car importers around the world to find really good quality used vehicles at lower prices than they would expect to be able to find locally. The huge numbers of used cars in the Japanese car auctions that can be viewed online is another great plus.
The key to doing this successfully is to find a top-notch Japanese car exporter who both can communicate well, and also steer you safely through the process of buying from the car auctions in Japan.

If you enjoyed this article and would like to learn more, I have a huge amount of in-depth articles and videos covering every aspect of buying from the car auctions in Japan, including details about Japanese car auction inspections on my company website.
About the Expert Author
Stephen Munday has 12 years experience living and working in Japan, including 5 years buying from car auctions in Japan for customers around the world. His company, Integrity Exports, was set up with the goal of making buying from Japanese car auctions a stress-free and smooth experience.

Article Source: http://EzineArticles.com/5807784

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?
Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn't keep up with their mortgage payments.
The banks weren't satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.
The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.
The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.
HOW PENNY AUCTIONS WORK!
The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.
There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don't stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.
Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.
HOW TO WIN!
Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.
The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.
The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.
The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.
HOW TO AVOID SCAM SITES!
Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn't be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.
Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.
Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.
CONCLUSION!
New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they've always wanted but couldn't afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they've incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.
There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.
It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

Article Source: http://EzineArticles.com/5291554

Auctions: Storage Units and Rentals

The reality shows currently on TV make the pursuit of treasures through bidding at storage unit auctions feel exciting. The thrill of choosing which units to bid on and the exhilaration of being the auction’s winner looks like quite an adventure. Sometimes, the storage areas contain valuable pieces that net winning bidders big profits. Other times, the winners have a lot of low-value items that have to be sold second-hand to recoup the money invested. Storage unit auctions aren’t a new phenomenon, however they have only recently gained widespread attention, thanks to the power of reality television. Whether you are interested for the adventure or the potential to make money, it is easy to get involved without putting up significant cash out-of-pocket.

How It Works

Storage units rent out their space for a month to month basis. When a renter fails to pay and falls behind on their monthly fees, the unit is then forclosed on by the business and then available to be auctioned off. When an auction takes place the manager opens the storage unit and allows potential buyers to get a look of what is inside and the money that can be made from owning what is inside.

This allows the potential buyers to take a look at what is inside, get an idea if this is something that they may or may not want to bid on. Baseline usually starts at about 10 dollars and can go up from there, how high depends on the unit and the interest involved. Storage unit auctions can go slow or fast paced depending on the number of units being auctioned that day, and the demand of a unit. Bidding wars could ensue if there is a profit forseen by bidders.

Why Are There Auctions (Storage Units and Rental)?

Before joining the storage unit auction excitement, many wonder how and why the units and rentals are available in the first place. Basically, individuals rent the space to keep items they can’t otherwise store for a variety of reasons. As with any rental, the monthly payment is expected on time each month. When the renters stop making payments, sometimes due to financial troubles, a medical situation, or something else, the companies that own the spaces have to dispose of the personal property inside, much like a foreclosure.

The company advertises the upcoming auctions in local papers, giving the owners of the items fair notice and a chance to work out the outstanding balance. Those interested in bidding on the contents of the storage units also see the notices and determine which they would like to participate in. Now, it can happen that at the very last minute, the unit’s renter will contact the storage company to pay their bill in full. That means that some attendees might be disappointed, as the company cannot proceed with an auction under these circumstances.

What Can I Expect at a Storage Unit Auction?

If you have been to an estate auction, you might be expecting a traditional auction experience at the storage units as well. However, these auctions are held much more informally, with participants submitting there bids verbally. The highest bid wins the storage unit’s contents, and payment is expected immediately.

The gamble in a storage auction is that you don’t know what you are going to get if you win. Each rental space is typically 5’ by 5’ or larger, and you only get a moment to see â€" but not touch or move â€" the contents. That means behind whatever is immediately visible, you could find something valuable, but it could be just a collection of junk. Use your brief window of opportunity to scan for items that can be sold easily, like appliances or books, and don’t bid too high unless you are confident that there are truly valuable items inside.

Once you win the contents of a storage unit, you typically have just two days to remove all of the items. Some individuls find it easiest to bring a large vehicle with them to the auction, so they can collect everything before they leave.

Auctions, storage units and similar, are an interesting and affordable way to spend an afternoon. Who knows â€" you might be lucky enough to win something special!

Source: http://goarticles.com/article/Auctions-Storage-Units-and-Rentals/6351971/

Understanding The Penny Auction

Penny Auctions, or pay-to-bid auctions, are becoming wildly popular as consumers continue to recognize the opportunity and possibility of amazing deals and incredible savings. Hundreds of penny auction sites already exist. Some of the more established sites include Swoopo, Quibids, BidCactus, BidRivals, Beezid, and more. New auction sites keep popping up all the time as the business model tends to favor the business owner, and of course one lucky winner of each auction.

A penny auction is not the same as or in any way similar to an ebay auction. In an ebay auction you can bid as many times as you want and will never be charged a dime unless you are the high bidder and win the auction. This is not true for a penny auction. In this type of auction you pay before you can even participate. You have to pay for the opportunity to bid on the item.

Penny auctions are just what they sound like: An auction where you can only bid one penny at a time. The price of the item starts at $0.00 and each bid increases the price of the item by one cent. Each bid also extends the time of the auction, typically by 10, 15, or 20 seconds. In this type of auction it isn't the highest bidder, but rather the last bidder who wins the item. Usually the winning bidder snags a pretty good deal, enjoying savings of between 75%-95%.

How can these sites afford to give away pricey electronics and other great items at such huge discounts? Well there is a small catch to consider. As you may recall, the first sentence of this article also refers to these auctions as pay-to-bid. Thats right. You have to purchase the bids before you can use them towards a given item. Typically bids will cost between $0.50 to $1.00 per bid depending on the site.

Lets look at an example of a $10 gift card that sells for a final price of $1. That means that 100 bids were placed during this auction. If each bid was purchased for $0.50, the website made $50 off bids alone which will easily cover the cost of the $10 gift card. This is precisely how these auction sites can afford to stay in business.

Now just because the auction site stands to make a decent amount of money doesn't necessarily mean it is bad for the consumer. Certainly the winner of the auction made out like a bandit getting a $10 gift card for only $1 (plus the cost of any bids used). This is a significant savings for the winner.

Beware though, all of the other bidders just lost some money. If another bidder placed 10 bids in that same auction but did not win, they would have spent $5 and receive nothing in return. This is why penny auction sites can be quite risky.

Some penny auction sites try to limit this risk by offering a "Buy it now" option to those bidder that did not win the auction. By employing the "Buy it now" option a losing bidder can apply the cost of the used bids towards to full purchase price of the item. That means the losing bidder in the example above could apply the $5 worth of used bids towards the full price ($10) of the gift card and purchase the gift card for only $5 additional dollars. This way the losing bidders never actually lose as long as they were willing to purchase the item at full retail price from the getgo.

Penny auction sites can be a great place to pick up some amazing deals on some of the most popular consumer items. However it is important to remember the financial risks involved in this type of auction and to fully research and prepare before you embark on your endeavor to achieve ultimate savings. By full researching a penny auction site before you decide to start bidding you will be able to determine the likelihood of your success as well as sort out which sites are reputable and which sites may be scams.

Source: http://goarticles.com/article/Understanding-The-Penny-Auction/4207480/

7 Tips On How To Select A Good Fundraising Auctioneer

Although it may sound cliche, it's true. A good Fundraising Auctioneer does not cost you money. A good Fund Raising Auctioneer will make you money. As a matter of fact, a good Auctioneer can be worth his/her weight in gold because they can raise your entire year's budget and more...in one single night.

When your group or organization is searching for a Fund Raising Auctioneer, here are seven important tips to help you select the best Auctioneer for you.

1) Auction Industry Experience: Auctioneers are not all the same. Just as Doctors and Lawyers have different levels of experience and different areas of specialty, so do Auctioneers. Some Auctioneers have considerable experience while others are fresh out of Auction School. Most Auctioneers are generalists; others are specialists. Some have excellent reputations, others do not. Some specialize in Fund Raising Auctions, others could care less about them. And if you select the wrong Auctioneer to handle your event, your decision could cost you dearly. Your objective should be to locate an Auctioneer with considerable experience, an impeccable reputation, and someone who understands the intricacies of running a highly successful Auction, from start to finish,

2) Fund Raising Auction Experience: Not all Auctioneers make good Fundraising Auctioneers. Automobile Auctioneers are often considered to be the best in the business because they talk fast, and sell fast, selling perhaps 150 cars per hour. That rapid fire approach works well with cars, and on television (can we say "Barrett-Jackson Auctions"). It does not necessarily work well with Fund Raising Auctions because most attendees at your event are not Auction-oriented. Some are uncomfortable with the Auction process because it's new to them. Many have never attended an Auction before, and your Auctioneer needs to move somewhat slower to cater to their needs. An experienced Fundraising Auctioneer will understanding how to deal with your audience, how to read your crowd, and how to generate more money for your cause.

3) Reputation and Name Recognition: Your objective is to hire the best Fundraising Auctioneer available. Which one do you hire? Often the best approach is to find out who the other non-profit groups in your area are using. If the same name keeps popping up, it's appearing for a reason. And that reason is because those groups are happy with that Auctioneer's performance and the amount of money that Auctioneer is raising for their group. Some Auctioneers have wonderful reputations and are highly regarded in the community; others are not so highly respected. Be sure you find one who will represent you well.

4) Pre-Event Ideas and Innovation: An experienced Fund Raising Auctioneer will usually have a better understanding of how to run these events than your entire committee combined. Most non-profit Fund Raising Committees have one or two paid staff members and the rest are volunteers, often having little or no Auction experience. Committee turnover usually means that experienced volunteers will be replaced with inexperienced volunteers, which further compounds the problem. A good Fund Raising Auctioneer will get you through this. They will meet with your committee prior to the event. They will help you understand what sells best, what doesn't sell well, how and where to acquire sellable merchandise, and how to run a smooth and successful event. We are aware of instances where the auction revenue more than doubled in just one year as a result of the recommendations made by the Auctioneer. This service alone is worth any fee that you pay to your Auctioneer.

5) Enthusiasm For Your Cause & Event: You can find the best Auctioneer in the world, but if they are not enthusiastic about your event, find another Auctioneer. Enthusiasm is contagious and your crowd will clearly sense if your Auctioneer believes in what you are doing, or is simply going through the motions and doesn't really want to be there. Your Auctioneer represents your organization at the podium, so be certain to hire someone who projects the best possible image for your group.

6) Salesmanship. The Ability to Work a Room: This is what separates the professional Auctioneer from the inexperienced volunteer. All too many groups have the mistaken belief that if they secure the services of an unpaid volunteer to call the Auction, they will be saving themselves money. But the truth is that this decision costs them money. A "Volunteer Auctioneer" is usually someone known to the group, e.g. a board member, a parent, a local politician or a local celebrity. That individual may feel comfortable in front of a group, but they don't know how to squeeze money out of the room. A good Auctioneer can work the room, they can sense when the bidding is done, they will move the Auction along quickly, and will always solicit more bids from the room than any volunteer Auctioneer.

7) Special Pledge Appeals: A Special Pledge Appeal can often double or triple the amount of money raised at a Fund Raising Auction...in only a matter of minutes. But far too few groups take advantage of this Fund Raising tool. If you find an Auctioneer who satisfies Tips #1 - #6, and who is also effective at implementing a Special Pledge Appeal...look no further. That Auctioneer is an experienced Fund Raising Auctioneer, they understand the true power of Fund Raising Auctions, and will be able to raise considerable amounts of money for your group...year after year.

In summary, don't judge the Auctioneer by the fee that they charge. Rather, consider all of the pre-event support, innovative fund raising ideas, auction-day bid calling, the increased revenue stream they bring, and the overall success of your event. When all is considered, if you selected the right Auctioneer, at the end of the night your crowd will be saying "Thank You for letting us spend our money with you. We will be back next year...with our friends". That is the ultimate sign of a successful Fund Raising Auction.

Source: http://ezinearticles.com/?7-Tips-On-How-To-Select-A-Good-Fundraising-Auctioneer&id=5140044

Differences Between Online Auctions and In-Person Auctions

If you are new to auctions you may well be wondering what the differences between online auctions and in-person auctions are. Of course the most obvious difference is one is on the internet and one is live near you. There are a number of other factors that make them different as well.  First, for an in-person auction, you must find a location near you that hosts such an event. In-person auctions can be hard to find and oftentimes, you must be willing to drive some distance to attend. Online auctions are at your finger tips on the nearest computer or even your personal mobile device. Yes, many auctions can even be seen on your mobile phone wherever you are, making them very convenient. In-person auctions are also only open at set times, whereas online auctions are often going 24 hours a day.

Another major difference is the amount of available items at the auctions. Pickings may be slim if you are after the newest Samsung product or Android phone at an in-person auction. For most in-person auctions, however, you can arrive early and look over the lots that are to be auctioned off that day. This allows you to really see what you will be bidding on, and to give it a thorough inspection. Online auctions are usually endless when it comes to the amount of items you can find, you will often find multiples of items so you can compare and find the one you want to bid on. Online, you cannot physically inspect the item, but you are often provided with multiple photographs of all angles of the item. Most sellers will also often allow returns if an item is not as described in the listing.

The return policy can be another big difference between online and in-person auctions. Most in person auctions are "as is", meaning if you bid and win, there are no returns. Online auctions vary with this rule, sometimes based on seller and sometimes based on which online auctions sites you are using. Returns up to 30 days after the item is received is a common practice.

At live auctions you will also have an auctioneer who will ask for bids, see a person signal and will continue until there are no further interested parties. This is typically a very fast process. Online there is usually no auctioneer, just a timer that slowly counts down. At penny auctions, for instance, as the timer gets close to the end people will place a bid at the last second, and often this will extend the time for another minute or less allowing others to place a final bid.

These are some of the big difference between the two options. The best way to see which is right for you is to try them out for yourself.

Source: http://www.artipot.com/articles/1444479/differences-between-online-auctions-and-in-person-auctions.htm

Advantages of online fundraising auctions

Fundraisers are increasingly turning to the Internet for new ways of raising money. Online auctions are one of the most cost-effective methods for charities to raise funds on the Web. Auctions have long been a staple of fundraising in the offline world, but are often time-consuming and laborious to organise and can be disappointing in results. Online auctions, however, are relatively quick and easy to organise and tend to be significantly more successful in raising funds.

There are many benefits and advantages to online fundraising auctions. One of the most wonderful advantages of online auctions as a method of fundraising is their enjoyableness for the public. Auctions are exciting and fun. When people take part in an fundraising auction they tend not to feel they are "giving away" their money to charity. Rather, participants often feel they are getting a bargain for an item they really desire. This makes bidders feel both good about themselves for helping the charity and pleased and excited to be getting something in return. Auction participants may even be drawn into making donations or giving their long-term support to the charity.

It is also helpful that, although most people remain unfamiliar with real-life auctions, the vast majority of people nowadays have some experience of online auctions and how they work (thanks to popular sites like eBay).

Online auctions' potential to reach a vast and diverse audience is a colossal advantage; Internet auctions can be accessed by huge numbers of people from all corners of the globe. This is in stark contrast to offline fundraising events, whose attendance is very limited by geography. The larger the number of participants in an auction, the higher the prices that items are likely to sell for.

As well as attracting a larger number of bidders, online auctions can also attract a large number (and better quality of) donations. Donors from all over the world can donate items for the auction. Lack of good-quality items to auction can be a troublesome problem with offline fundraising auctions, but this is less of a problem with online auctions.

Visitors to the organisation's main website can be attracted to the auction, and email campaigns and social networking can help spread interest in an auction in a way offline methods would not. The relative lack of social interaction in online auctions can be a disadvantage, but it can be an advantage. With no social distractions bidders are likely to focus more on competing to win the items they want.

There is a wealth of data to be mined on online auction sites about the behaviour of bidders and visitors to the site. This information can be used to great success in targeting marketing and your site layout according to people's habits. For example, if the data indicates that site visitors tend to be most interested in a certain type of item you have up for auction, then you could feature these items on the site homepage to attract even more interest.

The lack of time constraints of online auctions is a great asset to fundraisers. Online auctions are open 24 hours a day, 7 days a week. They can go on for weeks (or even months), as opposed to just a few hours like most offline fundraising events. This all means that bidding can carry on for longer and thus lots are likely to sell at a higher price.

Finally, the biggest benefit of the easiness and lack of stress of setting up an online auction!

Source: http://www.artipot.com/articles/1242646/advantages-of-online-fundraising-auctions.htm

Auction Brokers Represent You, Not the Auctioneer

Auctioneers are not all the same. Just as Doctors and Lawyers have different levels of experience and different areas of specialty, so do Auctioneers. Some Auctioneers have considerable experience, while others are fresh out of Auction School. Most Auctioneers are generalists; others are experts or specialists in a particular area. Some Auctioneers have an excellent reputation and a strong following of loyal customers, others are struggling to stay in business. Most Auctioneers are honest, some are not.
And if you select the wrong Auctioneer to handle your consignment, your decision could cost you dearly.
That's where an "Auction Broker" comes in. The difference between an "Insurance Agent" and an "Insurance Broker" is that the Insurance "Agent" represents one and only one company, whereas the Insurance "Broker" represents several companies, and is able to shop your business around with several companies in order to locate the best company, and to obtain the best rate, for your particular needs.
The same is true of an "Auction Broker". Whereas an "Auctioneer" represents one and only one Auction Company (their own), an "Auction Broker" represents several different Auction Companies and can steer your consignment to the Auction Company best suited to handle what you have to sell. This is extremely important because the key to getting the most amount of money for what you are selling at Auction is to locate the best Auctioneer for what you have. And the Auction Broker is often the best person to help you accomplish that.
Most Auction transactions involve signing a contract with the Auctioneer. That contract will specify important points such as the commission and fees involved, when you will get paid, standard terms and conditions of sale, etc.
All Auctioneers are going to charge you a "Commission". That commission will normally be a percentage of what they sell for you. For example, if your consignment sells for $10,000, and your flat rate commission is 20%, you will receive $8,000, while the Auctioneer keeps $2,000 to cover his/her staffing, advertising, administrative, and other expenses...and hopefully their profit.
If you are unable to deliver your merchandise to the Auctioneer, most will charge you to pack it and transport it to Auction. And occasionally other fees such as photography fees, listing fees, Internet fees, and other charges may apply.
In exchange for these fees you are, in effect, "renting" the following from the Auctioneer:
• The Auctioneer's Name and Reputation.
• The Auctioneer's Place of Business.
• The Auctioneer's Years of Experience.
• The Auctioneer's Expertise in the commodities you are selling.
• The Auctioneer's Marketing and Promotional Ability.
• The Auctioneer's Mailing List and Contacts.
• The Auctioneer's Knowledge of Potential Buyers for what you are selling.
So the key to getting the most amount of money when selling at Auction is to locate the best Auctioneer for what you have to sell. As an extreme example, you wouldn't want to sell your Tools through a Doll Auctioneer, because there would be few, if any, Tool buyers attending a Doll Auction. And you wouldn't want to sell your Doll Collection at a Tool Auction for the same reason.
But what if you have little knowledge of the Auction business in general? Or the specialties and reputations of local, regional, or national Auctioneers? What should you do with your consignment? That's where the "Auction Broker" comes in.
Just as the Insurance Broker can place your business with the best Insurance Company for you, so too can the Auction Broker help you to locate the best Auctioneer for what you are selling. A qualified "Auction Broker" will perform several vital services that will help you to obtain the most amount of money for what you are selling:
• They will explain the Auction process to you.
• They will explain the difference between National, Regional, and Local Auctioneers, and which Auction level is best suited for what you have.
• They will walk you though the legalese on an Auction Contract.
• They know which Auctioneers specialize in specific commodities, and which Auctioneers have upcoming Auctions in your particular category.
• They will locate the best Auctioneer for what you have to sell.
• They will help you to understand the best time of the year to sell.
• They will help you understand when to send it all to one Auctioneer, and when it's best to split your consignment between two or more Auctioneers.
• They will negotiate the fairest commission possible for what you have to sell. (Are you aware that in some instances Auctioneers will work for "Zero Commission?").
• Depending upon the merchandise, sometimes (but not always) they can negotiate a reasonable "Reserve" for you. (A "Reserve" is a minimum price below which the item will not sell, and usually has to be negotiated with the Auction Company).
• They will help to ensure that you are not cheated in the process
Here are just a few examples of how Auction Brokers have helped clients receive the most money for what they have to sell.
• Client had several pieces of better art, some better Tiffany and Cartier sterling silver pieces, along with some more average, middle market merchandise. Arrangements were made to have the better items saved for a much better "Catalog" Auction with a prestigious Auction House several months later. These items were pictured in a 4-color, printed catalog and sold on the Internet as well as before a live Auction audience, in order to attract a national and international bidding audience. Those items not worth storing were sold more quickly and turned into needed cash faster.
• Client had mostly middle market items, along with a few better pieces of jewelry. Arrangements were made to sell the jewelry through a company that specialized in jewelry sales, while selling the lower end items through a less experienced Auctioneer who was eager to sell such items, and who sold most of the items individually rather than as "Box Lots" (i.e., selling them by the box), thereby netting the client more money.
• Client wanted to dispose of a Stamp and Coin Collection. Arrangements were made for the Stamps to be sold in a Stamp Specialty Auction, while the Coins were sold in a separate Coin Specialty Auction, resulting in significantly higher prices than if they were sold through a non-specialty Auctioneer.
How are Auction Brokers paid? They are generally compensated in one of three ways.
• Flat Consultation Fee: Here the Auction Broker will charge the client a flat consultation fee to review the items, sort them into specific categories, and make recommendations where they will sell best. If the Auction Broker is expected to pack and transport the sellable items, those fees will be additional. This usually works better with smaller consignments.
• Percentage of Final Selling Price: Some Auction Brokers will work on a percentage basis. In this compensation format, they receive a percentage of the final gross selling price of all items. This concept encourages the Auction Broker to sell for as much as possible because the higher the final selling fee, the more money both the client and Auction Broker will receive. This format works better with higher value consignments, and not as well with low-value consignments. The more work that is expected of the Auction Broker (i.e., packing, transport to the Auction House, etc.), the higher the commission rate.
• Referral Fee from Auction Company: Sometimes the Auction Broker will receive a "Referral Fee" from an Auction Company, just as the Insurance Broker is paid for writing business with a particular Insurance Company. Often this represents a percentage of the final commission the Auctioneer makes on the consignment.
The "Broker" concept is well-established in the Insurance industry, but is fairly new in the Auction business. If you regularly attend Auctions and understand the Auction process, you probably don't need the services of an Auction Broker. But if you are relatively inexperienced in the Auction field, and if you are considering selling things of value at Auction, then an Auction Broker can probably help you from making a very major and expensive mistake.

Article Source: http://EzineArticles.com/4798400

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I'm an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I'm also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I've run everything from business overstock auctions to charity & special event auctions. I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience. Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I've seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don't say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here's the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can't make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell "as is". They simply don't have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It's difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.

Attend an auction this week, it's one of the only market places where you can set the price.

Thanks for reading and have fun.

Source: http://ezinearticles.com/?How-to-Find-Great-Live-Auctions-for-Resale-Items&id=801441

Liquidation Auction: What Businesses Need to Know

A liquidation auction, also known as a surplus auction, allows businesses to get rid of excess inventory. It’s also a way for companies to sell-off inventory before going out of business. In this event, the company needs to raise money to satisfy its creditors.

Given the two examples above, the term liquidation auctions implies “everything must go.” Clearing inventory doesn’t necessarily mean the business is closing. Typically, an auction helps companies maximize the amount of money they get for the products they remove from inventory.

Businesses will usually hire a professional auction company to handle the liquidation sale. The auction house provides a wide variety of services including taking a complete inventory of assets, advertising for the auction and managing the event from start to finish. To find the best auction service for your liquidation auction, you should focus on experience, reputation, services, pricing, schedules and references. Thorough evaluation in these areas will help determine the right auction service provider for your business.

Closing a Business

Conducting a liquidation auction may be voluntary or forced by the courts. In many cases, it’s a step that must be taken before a business closes. In this scenario, the funds generated from the sale of goods typically go to the creditors first. Next, the shareholders of the business benefit from any remaining funds.

A liquidation auction for a closing business not only includes the stock of the company, but every other asset used by the company. For example, if the company produces a product or sells products, these items are auctioned. In addition, other items the company owns, like office equipment, computers, supplies, furniture, artwork and anything of value will be auctioned to the highest bidder.

An Alternative to Bankruptcy

Sometimes financial difficulties are short-term events for businesses. If your company is experiencing some cash-flow issues or other financial problems that you think are short-term, you may consider a liquidation auction instead of filing for bankruptcy. By liquidating some assets, you may be able to bridge the gap in negative cash flow situations.

This is an especially good strategy if you have inventory you can’t resell. For example, customer returns, damaged goods and surpluses may be prime asset candidates to bring in some extra needed cash. Because of the recent economic challenges many businesses have faced, reputable and experienced auction houses are specializing in liquidation auctions to help businesses get the most money from their inventory.

Improving the Bottom Line by Selling Unneeded Assets

Liquidation auctions are a great way for your business to earn extra profit. Targeting inventory you can’t sell as indicated above, or just have too much of, can help you pad your finances. You can also auction other assets used in your business that you no longer need. Old office equipment and furniture are prime examples.

Whatever your reason for conducting an auction, make sure you understand how to achieve the best results. Finding the right auction service is an important step. But, you also have to look at your particular situation and evaluate your financial statements. You have to know what you paid for these items so you can make sure they don’t sell for less at auction. In most cases, it wouldn’t make sense to lose money.

Liquidation auctions are great opportunities for both sellers and buyers. Businesses can earn extra cash, stay out of bankruptcy or satisfy creditors before a closure. Buyers can often get a wide variety of merchandise at below retail prices. And, there’s nothing better than a win-win situation!

Source: http://goarticles.com/article/Liquidation-Auction-What-Businesses-Need-to-Know/6436236/

How Business Owners Can Benefit From Liquidation Auctions

Whether you're exiting your business, need extra cash for creditors or just ended up with a bunch of additional inventory to unload, liquidation auctions offer an excellent opportunity for selling your assets. The term "liquidation" usually implies "everything-must-go." In many cases, owners hold these auctions when they're closing up shop.

You need to make some tough decisions when it comes to exiting a business. Your alternatives involve selling it, merging it, passing it on to someone else or liquidating it. A lot of owners assume they'll sell the business or have their kids take it over. But, these options can be elusive.

Not only have recent economic conditions been challenging for many businesses, but the current climate has made it difficult to find qualified buyers willing or able to pay you the true value of your business. And, your kids may not have the interest or capability to run your company. If you find yourself in this situation, you may have no choice but to sell the pieces of your business that have value - the equipment, supplies, tools, inventory and other remaining assets.

But that doesn't imply selling your assets is a less than favorable last resort. Quite the contrary. Conducting your sales through a liquidation auction offers a sound strategy and may be just the ticket to accomplishing your goals.

Plan Your Exit

When it comes time to exit the business, you need to consider all your options, as well as develop a well thought out exit strategy. Creating a plan will help remove some of the emotional attachment you may have with your business. A sound exit strategy helps you make decisions objectively that provide you with the best benefit.

So, it's a good idea to discuss your strategy with some professionals, such as an attorney and accountant before finalizing your plan. You want to be sure you cover all your bases, especially on all legal and financial ramifications.

And, liquidating your assets undoubtedly creates a lot of stress. That's why many business owners prefer to use an auction company to manage the process. The bulk of the responsibility shifts to the auction service so you don't have to worry about much.

Liquidation Sale vs. Liquidation Auction

Before discussing why liquidating assets is a viable strategy, it's important to differentiate between a liquidation sale and an auction. Understanding the distinction ensures you make the best decisions for your situation.

Contrary to a liquidation auction that takes place quickly from start to finish, liquidation sales are conducted over longer periods of time, such as weeks, months or even years. The hope is the longer selling time will help the business owner get higher prices. In some cases, owners can review multiple offers and then select the best one. This scenario works best when you're selling specialized or unique equipment.

However, you have to store your assets during a liquidation sale. This means paying for mortgage or rent on the facilities, utilities, security services, taxes and more. Although you're holding out for the highest prices on your assets, the costs of conducting the sale over a longer time frame can add up.

Why Go the Liquidation Auction Route

Liquidation auctions offer numerous benefits for selling your business assets, including:

* Convenience - As mentioned earlier, you're probably dealing with a stressful situation if you're closing your business. The last thing you want to do is pile on more stress at this time. You'll probably have to do some sorting of items, but the auction professionals will take over so you aren't taxed with selling each item individually.

* Marketing Services - Professional auction houses are expert marketers. They'll help you reach a much broader audience than you could do on your own. In fact, professional auction companies can have hundreds or thousands of prospects in their databases that they market to repeatedly.

Because full-service auctioneers have a regular following, you have greater assurance your assets will be sold at the highest price possible. In addition, experienced auctioneers use online technologies so they can literally attract buyers from all over the world. And they're very adept at targeting other businesses that could use your assets.

* Fast Turnaround - Liquidation auctions are quick. The whole process can be over and done with - from start to finish - in about 90 days. Sorting the assets, writing item descriptions, marketing the auction, conducting the auction, cleaning up, etc. is all managed within a short window. If time is of the essence, liquidation auctions can deliver like no other option.

* Higher Prices - Auctions always create an environment for higher prices to be paid on your assets. The nature of auctions involves competitive bidding that can drive prices up. Although the auction company takes a small cut from every sale, the bottom line result can be much greater than paying for all the associated costs involved in going solo. Remember, you have to pay for storing facilities, utilities, security, taxes, marketing and other costs when you sell assets yourself.

* A Bankruptcy Alternative - Because it still comes with a stigma, many people want to use bankruptcy when they have no other options available. Instead, liquidation auctions offer an attractive option, especially if you're experiencing a shorter-term cash flow issue. Liquidating some assets lets you bridge the gap until your financial situation recovers.

* Improving the Bottom Line - Liquidation auctions make perfect sense if you have inventory you can't resell in your business. Examples include customer returns, damaged goods or surpluses. Since you can't resell these items in your business, you can generate additional cash by selling them at an auction. If you have assets you no longer need in your business, have too much of, or can't resell for the reasons noted, a liquidation auction can help pad your bottom line.

Recent economic turmoil has prompted many businesses to shut their doors or unload assets for much needed extra cash. Whatever your reasons for needing to sell assets, liquidation auctions deserve serious consideration. A reputable auction company specializing in liquidation auctions will help you get the most bang for your buck.

Liquidation auctions are great opportunities for everyone involved. Buyers have access to good deals. And, you can get an attractive return on your assets that help you remain solvent, satisfy your creditors or put a nice chunk of change in your pocket.

Source: http://goarticles.com/article/How-Business-Owners-Can-Benefit-From-Liquidation-Auctions/8142892/