Internet Marketing - Internet Auctions
Number of Customer Reviews for Internet Auctions: 0
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Internet auctions are online marketplaces. Customers can buy almost anything under the sun and that too from around the world from a “virtual” bazaar. Internet Auctions are popular but is not the money-spinning venture it once was. There was a time when you could easily make money on eBay, when buyers outnumbered the sellers.
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This is not to say that online auctions are not popular or lucrative. In fact, in 2004 eBay had a $3.27 billion sales turnover. It is just that the dynamics of the trade has changed and you really have to push yourself to earn that money. If you are interested in becoming a seller, you must pay heed to the following points. Start small and with inexpensive material. Choose a product you are familiar with and try get them at wholesale rates. Revolve the money generated into the business.
Many "government auction" sites have emerged. They offer to give you first-hand information of all government auctions taking place. These sites charge you to become a member. However, the information they provide is obsolete and useless. They have earned an unreliable reputation. Online auctions have their own drawbacks also. The Federal Trade Commission says that they receive the maximum number of complaints related to online auctions.
Some sites are B2C, where a site operator is physically in charge of selling and receiving payments. However, majority of sites are person-to-person where sellers interact directly with customers. There is a time limit on bidding and a "reserve price" (lowest possible price) fixed. After bidding and the sale, the seller and buyer communicate directly to finalize payment and delivery. Before trading, find out what security the site offers. Read the item description carefully, before purchasing. Compare it if possible with the market rates. Check out a seller’s credentials and save all correspondence. Ensure that you do not give your Social Security number and other important personal details, unless you are sure.
Online shopping can be a rewarding experience. However, always remember to take precautions.
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