| Are you stuck with some products that are not selling | | | | set a specific date, time and location for the sale of |
| the traditional way? Do you want to dispose of some | | | | the property. The terms and conditions of the sale are |
| property but are not sure what's a fair price? This | | | | under your control.o Auction marketing is expedient as |
| piece introduces you to a unique marketing | | | | it forces buyers to act immediately. It also creates an |
| mechanism, namely Auction Marketing. | | | | excitement that drives each buyer to outbid the other.o |
| Auction marketing is an aggressive and focused | | | | Since it is completed within a set time frame, it saves |
| campaign that brings all the potential buyers and sellers | | | | high carrying and holding costs. |
| to the same place (physical or virtual) at the same | | | | There are many companies or websites that can set |
| time. It creates a sense of urgency, a "buy it now" | | | | up an auction for you. Hence, consider the following |
| proposition. The buyer knows that if the item is not | | | | when choosing one to market your products.o Select |
| bought then, the opportunity to purchase it is lost. This | | | | a company that is professional and trustworthy.o Ask |
| sense of urgency drives the bidding and increases the | | | | the company for references to reconfirm their track |
| price of the product. | | | | record.o Check with the company to see if they |
| In a conventional setting, you as the seller, set a price | | | | belong to the National and State Auctioneer's |
| which is usually negotiated downwards at the time of | | | | Association. This makes sure that the company is |
| sale. But at an auction, the price is adjusted upwards | | | | committed to a professional code of ethics and |
| until the highest bid is received. | | | | standards for conducting business.o Ensure that the |
| What can you sell using the auction marketing | | | | company creates the right kind of publicity to market |
| technique? Pretty much anything, but live auctions | | | | the auction to the right buyer segment.o Find out if |
| most commonly deal in high value items such aso Real | | | | they have the necessary infrastructure to conduct the |
| estateo Business assetso Factory inventoryo Works | | | | auction.o Make sure the company offers it's services |
| of art | | | | until the auction process is complete and the final bid |
| However, the advent of online auctions has changed | | | | price is obtained. |
| the landscape completely, and can cater to trivial, low | | | | Traditionally, auctions were live affairs held in a physical |
| value items as well as premium products. Which | | | | location, most likely at the behest of a single seller. |
| means anyone can sell via auction marketing. Here are | | | | Today, the concept of auction marketing has changed |
| several reasons why you should include auction | | | | beyond recognition, with online auctions becoming |
| marketing in your sales strategy:o You don't have to | | | | hugely popular. This has created an explosion of sorts |
| worry about selling your products too cheap to the | | | | in the range of products that can be put up for sale, |
| first buyer that comes along, without a chance to | | | | and the number of bidders who can participate. The |
| assess market value.o Your property is exposed to a | | | | auctioneer is replaced by the website, for example or |
| large number of potential buyers, mostly genuine. If you | | | | morgan-auction.co.uk. This platform has become so |
| insist on a non-refundable deposit of 10-20% of the bid | | | | successful that there are even a number of books |
| price, it usually keeps dummy bidders away.o You can | | | | dedicated to doing business through online auctions. |