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Selling through Auction Marketplaces
Consumers are increasingly feeling more comfortable in buying products through the Internet. With variety and availability at anytime being one of the leading factors for this change in opinion, one of the best sales channels on the Internet by far is auction marketplaces, even though advertising and promoting of your website should be done at a master level.

“The online auction business model is one in which participants bid for products and services over the Internet. The functionality of buying and selling in an auction format is made possible through auction software which regulates the various processes involved.”

Consumers are increasingly feeling more comfortable in buying products through the Internet. With variety and availability at anytime being one of the leading factors for this change in opinion, one of the best sales channels on the Internet by far is auction marketplaces, even though advertising and promoting of your website should be done at a master level.

“The online auction business model is one in which participants bid for products and services over the Internet. The functionality of buying and selling in an auction format is made possible through auction software which regulates the various processes involved.”

There are few factors as to why auction marketplaces are viable sales channels for your goods and services.

  • The auction marketplaces are very popular and each of them has huge community of buyers and sellers.
  • There is virtually no start-up cost involved.
  • No extra overhead is required.
  • You really don't have to set up a website to start selling.
  • Easy to learn.

eBay

With 63.8 million unique visitors hitting the auction site only in April of this year, eBay (http://www.ebay.com) has established itself as the largest marketplace on earth. In 2004 alone US$ 34.2 billion worth of merchandize exchange hands on eBay. Presently, the site has around 135 million registered users in 32 markets worldwide. With such a vast community of buyers and sellers, eBay should be your number one choice for selling products or services online.

On the eBay you can sell any kind of item. The varieties of stuffs people are selling through eBay are unbelievable. At any given time there are over 29 million items displayed on eBay. The number of new items added each day exceeds 3.5 million. However, still many offline sellers perceive eBay as an auction site for mainly collectible items.

The largest selling category on the eBay is, automobile and accessories, which comprises of almost 22 percent of all sales.

As a seller on the eBay, the biggest advantage that one can gain is the possibility of becoming from a local merchant to an international merchant over night. If you are already selling merchandize to consumers online or offline, eBay gives you an additional sales channel without any extra cost. If you are planning to begin selling goods or services through the Internet, eBay allows you to start your business online quickly and with minimum expenses.

Yahoo

You may have difficulty in imagining the biggest portal on our planet as a marketplace, in some countries, like Japan and Canada, Yahoo auction is, actually, doing better than eBay. In the US market Yahoo has just announced its intention to eliminate fees charged for using its auction site.

The good thing about Yahoo is slowly it is becoming a major hub for many small business web stores. As a matter of fact, according to Yahoo, every eighth online store is now hosted by Yahoo.

Amazon

Amazon might not be as popular as eBay or Yahoo as far as auction marketplace is concerned, however, many auctioneers claim that some of the products sell better on Amazon than any other auction marketplace.

Doing it right.

While determining what to sell through auction marketplaces, it’s important to choose your products very carefully. You shouldn’t try to sell products like DVD, cellular phones and similar common items since there are many people are trying to sell those products.

In addition, research should be done before jumping into online auctions. Go through the categories of your choice. See how your competitors are doing. Check out the listings of sold items. For how much the products you intend to list are getting sold for? What keywords your prospective competitors are using to market these products? On which auction site these products are selling better?

Travel, cosmetics and jewelry sales are expected to do better than other categories of e-commerce in coming years. In every category of goods and services you will find a niche, which is doing fairly well. All you have to do is find that niche by making extensive and thorough research.

Selling through auction marketplaces like any other business process requires sound judgment and careful planning.

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