Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

Smart business people are leveraging the power of Internet marketing strategies to attract more qualified customers to their small business. Small Businesses that you would not expect to find on the Internet are now using online marketing to draw in customers like a magnet. Traditional small business marketing methods are expensive and the results are not measurable. Positioning yourself as the expert in your field and providing valuable information to your potential customers will magically attract qualified prospects to you. This article will provide valuable small business marketing ideas to help you develop marketing strategies for your small business.My time is limited, and I have found that using the search engines is a great way to find products and services that meet my needs. The information available on the Internet lets me compare products and services and get reviews from other customers who have purchased the products I am looking for. Last week I purchased a generator for my home through the Internet, and I needed to find a local electrician to install it.   I hate calling people from the yellow pages, so I decided to search the Internet for someone who could help me. I found three different electricians. Electrician A had very good information on their website about some simple electrical jobs and things to watch out for when picking an electrician.   Electricians B and C simply had a “yellow page” website with a phone number and address. Because Electrician A had shared valuable information with me first, I already trusted him more, but I wanted to get three bids to make sure I paid a reasonable amount of money for my job.I sent all three electricians an email asking for a bid on my job. Then I spoke with each of them on the phone to answer their questions and give them directions to my property.Electrician B bid on the job sight unseen. Electrician A and C both made time to come out to my property and look over the job before bidding.Electrician A made a couple of good suggestions that actually saved me money and helped me avoid a costly mistake. Electrician C bid almost twice what the other two electricians did. After getting all of the bids, I chose Electrician A because he took the time to come out and look over my job, and actually helped me save money, even though he did not have the cheapest overall bid. Electrician B, who bid on my job sight unseen, had the lowest bid, but would have actually cost me more money because of the issues that Electrician A had pointed out when he took the time to come out to my property to see the job before bidding on it. Electrician C looked over the same job site as electrician A, but did not give me a lot of confidence when he did not point out the same issues that Electrician A had.  The combination of a website with valuable information to help build my confidence coupled with free advice to help me save money actually won this electrician my business. This is an example of how effective marketing a small business using the Internet coupled with a consultative sales approach can help attract and win customers for your business. Because of their power to attract customers, I have implemented these Internet marketing strategies in my own small business. I have a website that has valuable information available to the prospective customers who search for my services. Because of this useful information, the customers who find me already trust what I have to say. They know something about me before we even speak with each other. This helps filter out the tire kickers and helps me leverage my time to work with only those customers who truly have an interest in my services as a small business Internet marketing coach.By reading this article you’ll learn why it is important to market your small business on the Internet. You will learn small business marketing ideas that will attract more customers to you who are already interested in what you have to offer. You will learn how to gain the trust of these customers allowing you to win more business and make more money.Why it is so important to market your small business on the InternetMore than ever, people start their search for information about products and services on the Internet. In fact, as a business medium, the Internet is growing while many other sectors of the economy are declining. Your customers are looking for you on the Internet…trust me I know this. The question is “are they going to find you when they search?” and if they do, “will they learn enough about you to trust you and contact you to do business?”  Many people no longer think of the yellow pages when they are searching for information about a product or service. The major search engines are the most accessed websites on the Internet. Google has over 91 million searches per day, and Yahoo has over 60 million searches per day, together they represent 151 million searches per day. Now the population of the United States is just over 304 million and the population of the whole world is just over 6 billion (Wikipedia – Jul 2008). One out of every two people in the United States could be searching for something or one out of every 40 people in the world could be doing the same. This is a staggering number of searches every day, which reinforces the fact that people are relying on the Internet to search for and find quality information. You can see why, more than ever before, it is important to have an Internet marketing strategy for your small business.How to attract more customers to you who are already interested in what you offerOk…so now we can agree that your business should be on the Internet, but how can you be sure that your business will be found out of all of the others out there? How can you effectively market your small business on the Internet? Probably not the way you would think. Hype-based or hard selling techniques no longer work. The way to attract customers to you is to offer valuable free information to the people who find you.   They will find you because you will use the same words that people are searching for when describing your products or services. This is called search engine optimization (SEO) and all it means is that when you write the content for your website or blog, you use the words that people are typing into the search engines so that they can find you when they search. If you are using a replicated website, it is very likely that it has not been optimized to be found by the search engines. Search engines hate replicated websites.Your small business marketing strategy should include writing articles about topics that are interesting to your customers. To do this, you have to figure out who your target customer is, and what they are interested in. This is probably the hardest part of your small business marketing strategy. This is the essence of attraction marketing and is how you will build an audience for your information, which in turn will draw customers to you like magic. Then it is just a matter of placing your content all over the Internet so that it is found when your customers search. If you are a local business, there are ways to localize your content, so that customers in your geographic area can find you first before you competitors when they search.How the value you provide helps you gain the trust of your customersOnce your customer types in the search words at the search engine and your content comes up, you have started building trust and credibility in their minds. The more valuable the content you offer for free, the more trust you will build. The more frequently your content comes up, the more credibility you will gain. Securing the trust of your customers is the hardest step in making the sale. Using these small business Internet marketing strategies does this hard step for you, so that when your customers come to you, they are ready to learn what you have to offer. If the valuable free content that you offer is perceived to be more valuable than that of your competitors, you will differentiate yourself in the eyes of your prospective customer. If your content comes up first on the search engines, you are guaranteed that your customer will see what you have to offer. If what you offer is of value, you have just won a customer.You too can leverage these ideas for marketing your small business on the Internet There are many tools that you can leverage today for your small business marketing strategies. Some of these include websites, blogs, articles, images, Google maps, videos, etc.  In addition to these, there are many social media options to help build your reputation with your customers. These include such things as Face book, MySpace, Squidoo, and Twitter.For example, my small business has a website which I use as the hub of my business activities. I have written articles, such as the one you are reading, which are found by the search engines when my target customers type in certain search words. My articles then link back to my website for my customers to find more information about my services. In addition to my articles, I have Squidoo lenses, and a Face book page which also link back to my website. My offline marketing also has the link to my website. Again, the target of all of my marketing is to drive prospective customers to my website where they can prequalify themselves by learning more about my business and requesting more information if they are interested. Notice, I am not chasing customers, nor am I wasting my money on the yellow pages. Instead, I am attracting customers to me through the valuable information that I provide. You can easily implement these same marketing strategies for your small business also.If winning more business and making more money is important to you…If all of this information is a bit overwhelming to you, or you just don’t know how to get started, I suggest that you find someone who can guide you through developing and implementing the Internet marketing strategies for your small business. Find someone who can show you the ropes and teach you what you need to know to be self-sufficient.Don’t just sign up with anyone who claims to build or host websites, though. Not everyone knows the secret of attraction marketing like I have described for you here. Find someone who understands these concepts and has demonstrated their ability to apply them the way that I have demonstrated it to you when you found this article. When you do find someone, the more they know the more costly their time will be.  Look for someone who knows just a little more than you but who isn’t so good at it they charge you a fortune. They can show you how to set up your small business marketing strategies on the Internet, or if you don’t have the time to do it, they can do it for you. Now you know how to easily win more business and make more money. Leveraging an Internet marketing strategy will help you with the hardest part of establishing any business relationship. It will help you gain the trust of your potential customers before you have even spoken with them yet. You will be able to attract more customers to you, and the ones you attract are already interested in what you have to offer. After that, all you have to do is offer great service and close the sale. These great small business marketing ideas can give you a leg up on your competitors, and help you grow your small business.   Now you know why it is so important for you develop an Internet marketing strategy for your small business. As a customer, I have found that small businesses who provide valuable information to me when I am searching for products or services are much more likely to get my initial inquiry about their products or services.  Businesses who are not on the Internet or who have a replicated brochure website are usually not in the running at all. In fact, I usually forget to even look in the yellow pages. My first stop to search is now the search engines like Google or yahoo. I have implemented these small business marketing strategies in my own consulting business. Now I have customers calling me, instead of me trying to chase them or spending thousands of dollars on ads that don’t bring in anyone. Give me a call or shoot me an email and I’d be happy to spend 20 minutes on a free consultation with you to get you started on the right track.

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.