How to Generate Ideas and Get Started on Your Home Based Business

You’ve sat at home all day, you have the motivation and the desire to work and succeed, yet you are probably wondering just what is it you can do to achieve this, right?The answer of course, is to set yourself up with a home based business. However, this isn’t always such an easy thing to do. There are so many ideas out there that it can be difficult to select the best one for your skills and experience. Not only that, but then there are also other things to consider. You might be wondering if a certain idea is profitable or not, how much time you will need to spend doing it each day, and even if the business is going to be legitimate or not!Another thing to remember is that there is a very fine line between what is a home based business, where you are the boss, and what is a home based job, where you are still an employer. Indeed, with most home based businesses, especially when you first start out, you will probably find that you are filling both roles at once.While it might seem difficult to decide where to begin, the best way to start is to consider your skills and experience, together with your own interests. You should also consider what is profitable, so it may pay to carry out a little research about what services people require that you can deliver. Remember to keep an open mind too, and be prepared to do things that are closely related. The most important thing is that you never pass up the opportunity to use your talents and skills to create income!When you come to decide upon your new home based business, one thing you mustn’t do is make your decision based only on the potential earnings you can make. You’ll need to make sure that whatever you are doing is something you will enjoy doing, something that holds your interest, because you will be spending an awful lot of time working on it. Of course, income is a big consideration but just be aware that it’s not the only one.And now for some ideas. There are hundreds of types of home based businesses that people operate successfully, amongst them many common ones that are operated by hundreds of people and all carry a big demand. You might want to consider accounting, buying and selling on eBay, pet grooming, answering calls, cake decorating and design, cleaning, child care, desktop publishing, family history tracing, freelance photography, online marketing, business consulting, freelance writing, researching, proofreading and editing, recruiting, resume writing, web design or secretarial services. All of these are very common and profitable home based business ideas, and there are many more out there as well.So consider what it is you are able to do, bearing in mind that not only do you need to do it well, but you need to do it quickly as well. With most home based businesses, time is money. One last thing you might want to consider if you’re still unsure is to check out One24 a ground floor, unique company offering a no risk, no upfront cost home based business opportunity with the potential to retire in 2 years.

Make Money Online With Home Based Business – Become Your Own Boss

There are several factors that can compel you to give up your full time outdoor job, and family commitments are the most important of all. But, does this put an end to your ability to contribute to the family cash box? No. The internet offers an opportunity to make money online with home based business. So even if you cannot leave home, you can start earning in the comfort of your home.This income model is one that is operated from your home, and can earn a big cash sum if planned and executed appropriately. Such business model can be a service or product based. Do you want to know some ideas about it?Core ideas to make money online with home based business:- Selling Goods: A person can buy goods at wholesale rates and resell them at higher rates to make a substantial profit. You can sell clothing, jewelry, perfumes, books and many other items. Individuals can also sell goods like artwork, music, gift baskets and crafts that are made by them.- Providing Services: Many companies outsource non-core jobs to third party service providers. As a service provider you can offer services such as computerized accounting and bookkeeping, consultancy services, medical billing, transcription, HR services, web designing and development, home staging and cleaning services and working as a virtual assistant. You can also get paid to write for other sites.- Work as a franchise: A franchise functions as a representative of a bigger company selling products and providing services on their behalf. They work on commission basis. However, it requires that you buy the rights from the company to use their name.- Affiliate Marketing: You can advertise someone else’s digital and/or physical products using links and content blogging on your site in exchange for a commission.Do you have to pay anything to Start it?Whether you will have to pay in order to make money online with home based business depends upon the business you intend to start. Some of these businesses entail a start up cost which includes the charges for purchasing hardware, software, equipment, office supplies and advertising. Selected highly skilled professionals such as resume writing and consultancy services can start with little or no investment.What you need to make money online with home based business at starting point?- Identify your hobbies, talents or skills to create a successful business option.- Determine the scope of the home based business you have in mind by researching the market.- Weigh the pros and cons on different grounds.- Determine the area of operation- Do you wish to operate locally or expand your services elsewhere?- Consider the zoning laws and regulation before starting a home business. In some regions, such businesses are banned while others require a special license.- It is advisable to involve a lawyer and insurance agent in the process.

Small Business Still Running Out to Retail Stores

Small Businesses in Canada are continuously running out to their local retail office store to purchase their computer supplies and accessories for their business. This practice is great for those businesses that need an ink cartridge or some DVD’s to backup their data, however, it is not the best practice for them to run out to purchase their next notebook computer or computer system.Today’s small businesses are often purchasing the wrong computer system for their business. Many times when meeting with small businesses during my travels and inspecting their existing infrastructure, we are still finding many Windows XP Home or Media Centre computers that they have purchased for their business at the local retail office supply store. The sales people at these locations may lack the business technology training to properly understand what a small business needs and how business affects technology investments. The small business world is definitely different from the home or SOHO marketplace.The business decision maker is often upset when the IT professional has to pass along the bad news that their existing systems need to be upgraded or the operating system replaced when they hit that critical point in their business that the need for a server in their business is identified. Computer Professionals that focus on small business often struggle with this daily, the need to inform the business owner that their existing systems will not be able operate effectively in a Windows domain with a home based operating system adds additional stress to their daily job.The original reason why they went to purchase their latest computer at the retail store was perhaps the immediate gratification of getting a computer system that they can use today or out of urgency that they need something immediately. Small Business today, needs to start planning their technology investments wisely instead of spontaneously purchasing or impulse buying. This is where the Microsoft Small Business Specialist can assist them to ensure that they are investing in the right computer systems to allow their business to thrive with the right technology solution.Where can small business turn? Business owners must find a trusted technology provider to assist them before they run out to the local office supply store. Microsoft has a great website for business owners to find that trusted resource at http://www.microsoft.ca/smallbusiness. An experienced small business specialist understands what a small business requires and will recommend the correct solution, even if they do not have a server today, a small business specialist has the skills to plan for the future. The Microsoft Windows XP Professional and Vista Business Editions are what a small business needs to ensure that are ready for grow, so when the day comes that they need to invest in their first server, they can purchase the server and it can easily fit into their existing investments.What prevents the home or media versions from working in business? These versions of Windows were developed with scaled down functionality to work in the home market or to work with your entertainment systems, sure they will run all the software that you purchase for your business, however, they lack critical business functionality like logging into a Windows domain network, file synchronization and they lack the additional security features found in the Professional and other business editions of Windows XP and Vista.The Small Business Specialist community needs to continue its effort in educating today’s small business marketplace to ensure that they are investing in the right technology solutions for their business needs. Small Business consultants can leverage the Business Assessment Toolkit to paint the picture for the small business on their exact needs and ensure that they are investing their dollars wisely in technology.

The Attributes You Need to Have a Successful Home Based Business

Even though it seems as if almost everyone dreams of running a home based business, not everyone has what it takes to succeed with a home based business. There are certain attributes that you should have if you want to have a higher opportunity for success with a home based business.

There is no doubt about the fact that you need to be a hard worker if you are going to succeed with your work from home business. A lot of people see a work from home business as a way to get out of the 9 to 5 job work frame. The truth is you will have times when you are up very early and working very late to make your business a success. You will find that there are times when you need to work on weekends and perhaps even on holidays. You cannot be intimidated by hard work if you want to run a home based business.

It is important to be a highly motivated individual if you are going to run a home based business. You need to keep yourself on task no matter what line of work you select for your business. There will no longer be a boss telling you what to do and what to do it. You will need to be able to keep yourself motivated to succeed as well as anyone you might have working for you.

Determination and optimism are important if you want to work from home. Many businesses will fail and those that don’t will have times when business is not good at all. You need to use determination and optimism to ride through the bad patches so that your business can excel. Do not give up hope the first time things do not go your way with the new business. If you believe in yourself and your business, you have more opportunity for success.

People skills are important if you are going to operate a home based business. Anyone who is going to run a home based business must be able to have the best possible communication skills. If you have people working for you, you want to be able to motivate and inspire them. It will also be necessary to communicate well with your clients. As a business owner, you will want to have the people skills you need to keep customers satisfied even when things go wrong.

Although not all home based business owners are organized, it is beneficial if you are. Being organized will make it less likely to make billing errors and other errors in your business paperwork. You are less likely to miss deadlines or to misplace items you need to provide clients with the intended products or services. If you are organized you will be able to stay on task and to make plants for the future of your business.

Creativity is also an important attribute if you have a home based business. You want to have the creativity necessary to offer products and services that stand out from products and services offered by your competitors. You want to find creative ways to attract customers.

The attributes listed above are very helpful if you want to have a successful home based business. If you have some or all of these attributes, you could be well on your way to success.

Reaching Out the Advertising Market From Home

Online marketing has become one of the essential media tools in promoting new or existing products and services, and at the same time, reaching out consumers from any corner of the world. Online advertising has become the centre of attraction to business owners. The reasons behind this are that online advertising is cheaper compared to billboard or usual advertising, all of this for the fact that large target audience can be covered at no time. This leads to more chances of interacting with people who are actually interested in an advertised business.

Various types of online marketing

Even for experts, it is very difficult to identify which is the best online advertising method. You can choose any of the following methods according to your preferences and goals. The only thing you need to understand that whichever method you will use, it should reach your targeted audience. Your method of advertising and content of the advertisement should be such that it not only generates attention but also convinces customers to purchase your product. Here are some various methods of online advertising:

Article marketing: this type of method is commonly used when you want to run your advertisements for a longer period of time.
Search engine optimisation (SEO): this comes on the top of the list when you need quick and fast results. It is one of the best methods for online advertising and helps your business get entry in the global market easily.
Pay per click advertising: this is relatively a favourable method to do advertisements online.
Forums
Link exchange
Banner advertising
Affiliate advertising
Email advertising
Online classifieds advertising
Others: also there are other methods of free advertising i.e. giving advertisements on social media sites, like Facebook and Twitter.
Whichever method of online advertising you choose, it will definitely bring good results in the promotion of your products.

Various rules of online advertising:

1. Set objective of the advertisement: in your advertisement, your objective should be clearly defined. Your message should be precise and clear in your advertisement. You can easily reap maximum benefits of your online advertisement campaigns if you know how and what to advertise to reach out to your audience.

2. Decide “where” to put your ad: you should be clever enough to acknowledge the best site where you can put your advertisement. You have to do a little research to find the best site for the promotion of your product. You can consider online yellow pages, search engines, Service Provider directories and other large web sites.

3. Be creative: tailor and mould your message according to your target audience. Use the language that appeals them the most. It is equally important to present your idea according to the mindset of your targeted audience. This step needs creativity and will make your advertisement outstand in the market.

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.

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.

Hiring An Auction Company

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.

Five Tips for Selling at Live Auctions

Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.

People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!

Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.

Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.

Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.

After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.

Tip 2: Be sure you clearly understand the terms and policies of the auction house.

Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.

Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.

Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.

Tip 3: Make sure the auctioneer knows what you’re selling.

It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.

Tip 4: Present your items neatly.

No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.

There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.

While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.

Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.

The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.

Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.

If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.

Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!

The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.

Real Estate Auctions – The New Land Rush

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.