Going Once Going Twice How Online Sellers Can Benefit From Estate Auctions
Below is a MRR and PLR article in category Internet Business -> subcategory Web Hosting.
Going Once, Going Twice: How Online Sellers Can Benefit From Estate Auctions
Attending estate sales and auctions can significantly boost your online business. These events offer exceptional deals and allow you to expand your inventory, providing an opportunity to acquire rare items at a fraction of their retail value. Discovering auctions near you is simple, thanks to resources like the National Auctioneers Association.
Be Prepared
Many auction companies provide previews the day before the event, allowing you to inspect items and assess their condition. Utilize this chance to ask staff for insights and conduct online research on items of interest. Knowing the condition and potential resale value helps you craft a profitable bidding strategy. Remember to set a bidding limit beforehand to avoid overspending.
Understanding the Process
Auctions typically take place in a gallery setting, featuring items from multiple estates. There may be several auctions happening simultaneously in different rings. Previewing items in advance helps you decide which auction ring to focus on. If you’re interested in multiple rings, check if the auction house offers a schedule or time guide to help plan your participation.
Registering to bid links your name with a paddle number, which the auction house uses to track your purchases. At the end of the auction, all your wins are consolidated onto one invoice. According to Barry Gordon, president of Gordon's Estate Services, attending the entire auction can yield the best deals. As Gordon notes, “The folks with the staying power are the ones who get the best deals, especially as the crowd thins out in the later stages.”
What You Can Find
Estate auctions often feature items from the 1920s to the 1950s, including sterling silver, fine china, signed crystal, collectibles, furniture, paintings, tools, and even low-mileage cars. These unique finds attract customers to your online store, where you can showcase other high-margin products. Gordon explains, “Estate sales are excellent for new eCommerce sellers and a valuable resource for seasoned e-tailers to diversify product offerings.”
In summary, estate auctions are a treasure trove for online sellers. They provide a variety of unique items and the chance to grow your inventory creatively and cost-effectively. Whether you’re a novice or a veteran seller, these auctions can spice up your product sourcing and enhance your online store’s appeal.
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