What Is A Person To Do??

Over the past few months I have tirelessly worked my fingers to the bones inviting people to list items they have for sale on a fairly new auction site

called Insider Auctions. Do I have your sympathy yet?? Lots of people are visiting the site to which I am very grateful; however, virtually NO ONE is listing.

Hey, the listings are FREE, not only the basic listings but all the optional features as well – Hello! In these economic times what can be better than a place to try to sell our “stuff” for money where the listings don’t cost anything. I don’t understand. Is it because the site is new? Is it because the listings are Free and people don’t associate a value to something that is Free? Is it because people prefer to pay the listing fees of eBay regardless of whether or not the item sells?

My fingers are bleeding, someone Please help me out here. What does it take? Please visit the site http://www.insiderauctions.com/ and send me your comments and suggestions. I look forward to hearing from you.

Free Auction Listings

You read it right, at http://www.insiderauctions.com/ you can list as many items as you want and all the listings are FREE.

When you list your items on Insider Auctions you can take full advantage of the following great features:

• Free Auction Listings
• Free Home Page Featured Listings
• Free Category Featured Listings
• Free Hightlighted Listings
• Free Bold Type Listings
• Free Buy Out Option
• Free Reserve Price Listings
• Free Relisting
• Free Listings in Additional Category
• Free Images (up to 5)
• Free Custom Start Time Listings
• Free Want Ad Listings

In addition, the final value selling fee is a low flat rate 3% and individual stores can be easily set up for a low mothly fee. Stop paying excessive fees! Visit http://www.insiderauctions

Barbie Doll in Beautiful Hand Crocheted Gown

Up for auction at Insider Auctions is a beautiful blond haired Barbie Doll with big blue eyes.  She is dressed in a spectacular green crocheted gown that has a pearl and lace bodice.  Her blond locks are covered with a wide brimmed hat trimmed in dark green, pearls and a delicate green feather.  Barbie carries a green crocheted parasol also trimmed in pearls and lace. 

This collectible Barbie is described as being in excellent condition and the starting bid is $10.00.  Don’t miss out on this, possibly once in a lifetime opportunity, to add this gorgeous doll to your collection.

Mother’s Day Gift Idea

Mother’s Day has been designated as the second Sunday in May since 1914.  It is a day set aside for the family to lavish mom with gifts, weekends out of town, going out to dinner all in her honor.  Flowers, cards and chocolate candies are among the most popular gifts given.

Just like dads get tired of ties, don’t you think mom gets tired of the same hum drum card, flowers and candies?  Why not give mom something she will cherish for the rest of her life?  Something that will remind her of you and the day she became a mother.  I’m talking about a beautiful Byers’ Choice Caroler called “Mother’s Day with Baby”.  This item is currently up for auction on Insider Auctions and can be delivered in time for Mother’s Day.  The mother comes dressed in green, pink or blue and seller will allow you to choose the color you desire.  

Visit Insider Auctions to place your bid and make Mother’s Day a little more memorable for “mom” this year.

Please let us hear from you about your special gift ideas.  

Auction Success Tips

There is nothing more frustrating than having a great product up for auction and no one bidding on it. Experts all agree that there are some key things you can do to draw more attention to your auctions and ultimately receive more bids.

Insider Auctions has developed a list of some of the best tips for auction success to hopefully help you entice more potential buyers to your auctions. After going through the list, visit http://www.insiderauctrions.com/ to try out these tips. Insider Auctions offers Free basic listings, low optional feature fees and a low flat 2% selling fee. We hope you find this information helpful and look forward to serving you.

Item Title
One of the most important ways to attract people to you auction is to set a great Title. When choosing a Title:

• Include words people will search for.
• Make your Title enticing so potential bidders will choose your item instead of others being offered.

Example:

• If you want to sell an antique oak dining table, a Title like: old oak dining table would probably not bring in a lot of bidders. However, if you use a Title like: “Vintage Oak Dining Table – Excellent Condition – Collector’s Item” not only would you get more potential bidders to view your auction, you would be using words people would be more likely to search for. Your auction Title will appear in searches for Vintage, Oak, Dining Table and Collectors Items which will allow even more potential bidders to see your Title.

Item Description
Another key element is the way you compose the Item Description:

• Start with a very powerful paragraph to get the potential buyer interested enough to read the rest of the item description.
• Use wording to excite helping the bidder to visualize kicking the tires, taking a test drive and increasing the desire to own the product. This will almost certainly guarantee more determined bidders.
• Keep in mind Item Descriptions need to give enough information for bidders to determine if they want to bid, but too much rambling of information will discourage bids.
• Be careful of misspelled words and typing errors
• Describe your item in clean and accurate terms
• Use lists to make your item’s attributes easier to see. Don’t make a list of boring features but rather a list of the benefits. A benefit is what a feature does for some one. Finding the right Benefits for an item can Really Sell.
• Try to make your item well worth the price you’re offering.
• To get more people to bid, write a motivating short paragraph at the end telling the bidder why they should buy. Don’t just describe the item and end; motivate to buy

Example of a Watch up for auction:

• Be the talk of the town with this prestigious 24ct gold watch.
• Don’t worry if it accidently gets wet because it is water resistant
• Be confident you will always be on time because Rolex is extremely accurate

Item Condition
Tell the bidder the condition of the item.

• Is it new and in original packaging?
• Is it slightly used but in “like new” condition?
• Does it have imperfections the bidder needs to know about before bidding?

This is all information the potential bidder will want to know prior to placing a bid.

Terms
Don’t take for granted a bidder will automatically accept your Terms.

• Be very clear and concise in spelling out the Terms of your sell.
• To increase sells it is always a good idea to either include insurance in the cost of shipping or to offer the buyer the opportunity to purchase insurance.
• It has a negative affect on buyers when sellers use such statements as “Not Responsible for Item Once Shipped” or “Item Sold As Is”.
• It is a good idea to have some sort of guarantee on the merchandise you sell; this gives the bidder a sense of security when placing a bid.

Shipping
Shipping falls in the same category as Terms. Don’t take anything for granted.

• Be specific and spell out what shipping charges will be.
• Don’t try to rip off buyers by inflating the shipping price to increase your profit. People have a fair idea of what shipping costs should be and if they feel you are trying to cheat them on shipping they may not bid on any of the items you have listed.

Testimonials
Some people like to use testimonials from people who have previously owned the item they have up for auction. This could be a past customer or someone who has owned a similar product. Testimonials are technically other people selling your item for you. They can be very powerful and create belief in the quality of what you are offering.

Images
People want to see what they are bidding on:

• It is very important that you use at least one image on your auction page.
• More than one image is really better since it gives bidders a clearer understanding of what they are bidding on. All you need is an inexpensive digital camera and you are ready to go.
• Show the item’s details or any imperfections it may have with clear pictures that are well lit.
• One other consideration is the size of the picture; be sure to keep the image at a reasonable pixel size so the page doesn’t take too long to load. Potential bidders will leave after a few seconds if the page has not loaded.

Customer Support
Quickly respond to all emails regarding your auctions. Let potential bidders know their questions are important to you and you want them to understand exactly what they are bidding on. If you don’t, bidders may look to someone else for the product.

Reserve Price
While some people believe there is a time and place for putting a Reserve Price on an auction

• You may actually get more bids using no reserve at all.
• Do research on the price of the item to help you make your decision.
• If you do decide to use a Reserve Price, keep it real.

Auction Start and End Times
Always plan your auction start and ending times around the bidders you want to attract to your auctions. It is usually toward the end of an auction when the bidding gets hot and heavy; therefore, if you want your item to sell for a good price, it makes sense to end the auction at a time when someone is going to be around to bid on it. Create a profile on your product and what group of the population you are selling to.

Selling to Business Consumers
If you are selling business equipment and have mostly business customers:

• Schedule your ending auction time between 9am and 5pm on weekdays.
• It is a good idea to try and avoid mornings, especially Mondays.

Selling to Home Consumers
If you believe most of your sales are going to private customers having it shipped to their own homes:

• You want your auctions to end when these kinds of buyers will be around.
• Unfortunately, you will find these times are the opposite of what they are for the business customers.
• The ideal time to catch a home customer is between 8pm and 11pm after the children are in bed, and Sunday evenings.

Scheduled Start Time
Of course you can’t always be around when you need to start an auction so it will end at a specific time. Not to worry, there is a place to specify the time you want the auction to start.

• Many tools are available through the Insider Auctions site and it is a good idea to make use of them.
• Scheduling a starting time has a nominal fee, but well worth the little extra expense to get your item in front of your targeted bidders at the targeted time.

Listing Duration
At the time you list an item for auction, you can select the duration to run the auction.

• To end on a specific day, you can simply change the duration depending on the day listed.

Example:

• If you mostly sell to home consumers and the day the auction is listed is Thursday, your auction needs to run either 3 or 10 days to hit a Sunday.
• If you sell more to businesses and the day listed is Friday, any listing duration would be good except for a 1 day auction since most people are off on Saturday resulting in a smaller bidder pool.
• Draw up a timetable of when you should and shouldn’t be listing depending on the days of the week.
• Highlight days of the week using red, amber and green, traffic light style and
• Hang the list close to the computer for easy at-a-glance access.
• Experiment to find what day is the best day to end an auction
• Use a variety of web-based research tools to determine what day and what auction durations are best for your products.
• Listing durations can also be used to generate a sense of urgency, especially for much sought after items. This can appeal to impulse buyers and prompt them to bid now rather than wait. The 1 or 3 day auctions work best for this scenario.

Feedback
After the buy and sell has been finalized, it is imperative that you leave feedback about your experiences with each other.

• This information can then be used by others to determine what kind of transactions other buyers and sellers have had with a specific buyer or seller.
• It is very important to keep your feedback rating positive so others will want to deal with you.

Now, hopefully you are equipped with everything you need to have successful auctions. Try out your new found skills at http://www.insiderauctions.com/ for Free. All basic listings are Free, the optional feature fees are minimal and the selling fee is a flat rate 2%. Give us a try!

 

Posted by Linda at 8:08 PM 0 comments Links to this post

Tuesday, April 15, 2008

Dutch Auctions

Many people are confused as to what a Dutch Auction really is so I am going to try to explain.

In a live Dutch Auction, a seller offers an item up for bid at a very high price. The price is much higher than the value of the item and no seller expects to get the initial price. However, the auctioneer begins with the high price and lowers the price incrementally until a bidder is willing to accept the price or the seller’s reserve price is met. This type of auction is popular when it is important to sell an item quickly, since one bid is all that is required.

Dutch Auctions are useful for selling multiples of the same item. For example, if a business has three computers for sell, the first bidder may purchase one computer for $1200, however, the auction will continue since only one computer has been sold. The price will continue to go down until the next bidder chooses to accept the price, say $1000 for example. Since the auction began with three computers to be sold, the auction continues. The price continues to go down and the bidders become anxious since only one computer is left. When the auction reaches $800, the price the seller has set as the reserve price, no other bidders have indicated a williness to pay the price and the auction ends with only two winners. One paying $1200 and one paying $1000.

At first glance, it appears the sellers could be losing money in a Dutch Auction; however, in reality the sellers generally make more than they would with the traditional auction. In a traditional auction, bidders do raise the price but they rarely raise the price above the item’s actual value. They have no reason to act fast because they know exactly when the auction will end and in some auctions they can sneak in a last minute bid that is slightly higher and almost instantly become the winner. In a live Dutch Auction the bidders have to act fast because they have no idea when the auction may end. Therefore, even though the price is being lowered, bidders will end up paying at or even above the item’s value. Remember the starting price was much higher than the items real value.

Dutch Auctions are also used in online auctions where several identical items are sold at the same time to an equal number of high bidders. Online auctions work a little differently to the one above. At the time the seller initiates a listing, the seller indicates how many items are available for the Dutch Auction. Bidders place bids on the items until the auction ends. At the end of the auction, the top number of bidders equal to the number of items up for auction will be the winners, unless a reserve price has been indicated. An example would be a seller has four identical computers for sale and the reserve price is set at $800. At the end of the auction period, bids are placed for $1500, $1200, $800 and $600. Since the reserve price is $800, there are only three winners who pay $1500, $1200 and $800 respectively.

As you can see the biggest difference between live Dutch Auctions and online Dutch Auctions is the fact that sellers do not have the opportunity online to set a high starting price and drop the price incrementally. The seller has to accept the top bids, regardless of price, up to the number available or the reserve price is met.

Of course you should keep in mind different online sites handle Dutch Auctions in different ways. Some take an average of all the bids placed and charge all of the winning bidders the same price. Some charge the winning bidders the lowest price bid.

The above is intended to give you the general concept of Dutch Auctions and is not intended to be the only way Dutch Auctions can be handled. The key is multiple identical items are sold through one auction.

Tea Set Identification

I recently ran across this lovely tea pot with  4 matching tea cups.  I went ahead and purchased it although I knew nothing about it.  On the bottom it has “Made in China” and symbols that look like something wrtten in Chinese.  Now my curiosity is peaked and I wonder if there is anyone out there that can give me more information about it.  If you know anything about it, please add a comment.  Thanks.

 

Coast Guard Auctions Off Lighthouses

In this day and time people auction off almost anything. Today I read an article in the USA Today about a man who had won an online auction for the Thimble Shoal Lighthouse near Fort Monroe, VA. It sold for $65,000.

It seems that the modern vessels have more advanced technology and have made the lighthouses obsolete. I know at one time lots of people were avid collectors of Harbour Lights and tried desperately to not only buy all the lighthouses but to visit all of them as well. I have been to several and have really loved seeing this piece of history but I never thought about buying one.

According to the article an amendment to the National Historic Preservation Act in 2000 made it possible for the Coast Guard to auction off the lighthouses if they could not find a state, city or non-profit organization willing to take over ownership and upkeep. Since that time the Coast Guard has been able to giveaway and auction 41 lighthouses and has plans for disposing of a dozen or so more this year.

As part of the amendment, lighthouses have to made available first to state and local governments or non-profit organizations for free. If no one is interested or willing to take them over for free, then the Coast Guard is free to auction them. One man in the article was quoted saying “It’s kind of an interesting real estate dynamic, We can’t give it away, so we sell it.”

Whether you are in the market for a “real” lighthouse or a replica such as the ones made by Harbour Lights, it appears auctions are the place to look. If you are not in the market for the “real thing”, we have replicas listed at http://www.insiderauctions.com/.

This is a picture of the Harbour Lights Middle Bay, Alabama lighthouse. It is a limited edition and is a beautiful replica of the real lighthouse.

I don’t know about you, but I can’t figure out why there is a bull on the deck or how it got there. If you know the answer will you please enlighten me.

The Harbour Lights Middle Bay Lighthouse is currently listed on Insider Auctions (http://www.insiderauctions.com/). To place a bid click on the following link. http://www.insiderauctions.com/auction_details.php?name=Middle-Bay-Alabama-Lighthouse&auction_id=2576

Clean Up and Earn Money

Spring is in the air and it is that time of year when our thoughts turn to spring cleaning. As we look around we see clutter in the kitchen cabinets, the bathroom cabinets, the closets, the basement and the garage. Where oh where did all this “stuff” come from?? I’m sure someone broke into our house while we were asleep and cluttered it up; we could never have done this. (That’s my story and I’m sticking to it)

I cleaned out my kitchen cabinets a few days ago and was amazed that I packed up 7 boxes full of items I had not used in years. Some items were brand new – take the pasta machine that I used one time. Remember the day when everyone had to have a pasta machine to create more nutritious meals ~ they make it look so easy on television. My husband was helping me carry the boxes to the basement (to deal with later) when he commented he was amazed the cabinets even stayed on the walls. As much as I wanted to get mad, I have to admit I was pretty impressed myself…who would ever imagine nails and glue could be that strong!

After you gather all the clutter into one spot, then you are faced with what to do with it. With gas prices and groceries sky rocketing most of us are looking for ways to bring in a little extra income. We’ve tried several approaches that ultimately led us to develop an auction web site. We tried having yard sales, and I don’t think I have ever worked so hard for so little money in my life!! We tried eBay but by the time we paid the listing fees and the final value fees, which we never understood, we made almost as much as we did having yard sales. I’m sure we are not the only ones who have had these experiences. Since I have been involved in web design for many years, we decided to try our hand at an online auction site where basic listings would be FREE. The site is called Insider Auctions and you can list everything for FREE. Optional features are available but the fees are very low. When the item sells, you pay a low flat rate final value fee of 2%. If the item doesn’t sell, simply relist it, again for FREE.

As you do your spring cleaning, make a digital picture of items you want to list on http://www.insiderauctions.com/. At the end of a hard working productive day, go to Insider Auctions and register to buy and sell. Once registered, click on Sell and the listing process is very user friendly and easy to use. If you have a lot of items you are interested in selling, open a store. Send me an email to let me know you read our blog and I’ll waive the cost of the store for the first month and it will be FREE. My email address is linda@insiderauctions.com.

Remove the clutter and make a profit! What have you got to lose??

Online Auction Bidding Tips

Online auctions are getting more and more popular and it is now possible to find almost anything online.  Most auction transactions go smoothly, but following are a few suggestions to hopefully help you have a good auction experience.

1. Research the Auction Site – When visiting an auction site for the first time, make sure you read their terms of service, visit the help feature to make sure you understand how the buying and selling process works.  Lastly be sure to check out the site’s privacy policy and user agreement.
2. Research the Item – Make sure you fully understand all characteristics including the condition of the item you are considering bidding on.  Compare prices and determine how much additional will be charged for shipping and insurance.  Find out if the seller offers any kind of return policy.  Ask all questions prior to bidding.
3. Research the Seller – Most good auction sites offer some type of feedback system where you can read comments left by buyers who have had transactions with the seller; however, there will be times when someone is new and doesn’t have feedback.  You may want to ask a question about the product to see how quick of a response you get.  
4. Determine when shipment will be made – Most auction sites only allow a certain number of days for the transaction to take place including shipping.  Ask the seller when you can expect shipment and if he/she will be using a tracking service.
5. Never be lured from the web site for a better deal – It is against most auctions terms and conditions for you to make trades or purchases found through the auction site in outside deals to avoid payment of selling fees.  When someone contacts you directly there is also a possibility of fraud and you will buy an inferior product or never receive a product you pay for, with no recourse.
6. Never pay with Cash and be leary of people who want to be paid in foreign currencies. 
7. Never respond to unsolicited requests to update account information – especially those that say Dear Client, Dear Customer, etc.  Most legitimate auction sites will contact you by name.  This is a method used to steal your account information.  When a message is received contact the company directly to see if it was sent by them – DO NOT use the link in the email received, go to the site directly. 

These are just a few things to be taken into consideration, but I hope these get you thinking and make your auction experience more enjoyable.

Auction Selling Strategies

Many people have come up with their own strategies that “seem to work” for them but may or may not work for others.  Following are a few that we are aware of and you can decide for yourself whether or not they work:

1. List mid week after 10:00 PM so the auction will end after 10:00 PM when more people will be on the internet looking around.
2. Never end an auction on Saturday especially in the summer.  Most people are off work and enjoying time out of the house so your auction is less likely to get those last minute bids.
3. Use eyecatching templates to draw more attention to your auction.  This is often considered the difference between a hot auction and a mediocre one.
4. Use a digital camera to take good pictures of the product.  This will make your listing appear more professional and can drive an emotional response for all bidders who really want to own the item.
5. Product titles are limited in the number of characters that can be used, select your product title carefully.  Choose keywords that people are likely to search for to draw more people to your auction.
6. Put excitement in your product description, not some hum-drum language about what it is.  Make it appealing, point out all of its finer qualities, additional uses, condition of item.  Don’t misrepresent the item, but make it so desirable that everyone will want it.
7. Be sure to spell out all terms of the sell, such as additional shipping, whether or not insurance is included, your return policies, etc.  Don’t assume everyone knows how such things will be handled.
8. When you have multiple auctions, offer to combine shipping when a bidder wins more than one auction. 
9. Always send a hand written thank you note when the item is shipped.  The buyer will remember you and leave better feedback.
10. In the event a problem does arise, take care of it immediately.  Most of the time parties can work things out if both act rationally instead of accusing the other right away of misrepresentation.

I’m sure there are many others, so add the ones you can think of in the comments section.