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It?s common fact that hundreds of thousands if not millions of people from across the world visit, buy and sell both products and services across a variety of online auction sites. One well known site has a market share of around 70% and reports approximately 45 million users and has grown over 100% year on year over the past few years.
Online auctions appeal to a vide variety of people for many different reasons. One of the most common reasons people find themselves attracted to online auctions is the possibility of being able to pick up a bargain. Another reason is that you will often be able to find items which will be hard to find anywhere else. This is especially true with any kind of collectable items, compared to traditional brick and mortar auctions you are not limited to a small number of buyers.
It all boils down to the point that if you have what the buyer is looking for and your listing is found you will get bids and sales as a result. The real test for the seller is figuring out what any buyer is looking for. At one extreme you have extremely rare items for which there will be a small number of buyers, and at the other end of the spectrum you have popular items that a lot of people are searching for, but then the problem becomes getting exposure for your listing and making your listing stand out from the crowd.
As we have mentioned buyers flock to auction sites for a large variety of reasons, therefore the issue of how to attract the buyers is already solved. Different buyers often arrive at a particular site with different perceptions and a different frame of mind, this also means that two people may perceive the value of the same item differently.
Most of the serious auction sellers will often have a website of their own, although it is definitely not necessary to own a website or have to generate traffic externally, etc. You can join one of the larger reputed auction sites by registering with them, which is fast, free and easy. And for immediate returns and to generate income with no initial outlay, as most of the buyers and sellers participating in the auctions will be domestic users instead of business users, this a much better suited approach to e-commerce, which removes a lot of the hassle but still retains many of the key benefits.
Source: http://millionaire-business-articles.com/about-online-auctions/
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