| An online auction can be a great way to market your | | | | found in retail stores when the consumer exercised |
| business, but it can also be a place where you can | | | | enough patience. |
| deliver hard to find items at a substantial profit. | | | | This is one of the practical benefits of an auction. |
| Take for instance the Nintendo DS Lite. In the | | | | Many people think of auctions as a means of finding a |
| Christmas season of 2006 and 2007 the hand held | | | | bargain, but it can also be a place where individuals go |
| game systems were in high demand. Store shelves | | | | to find the rare and desired. |
| emptied just as quickly as units became available. | | | | Think of an art auction. Collectors from all points on the |
| Customers heard, "Sorry we're all out," more often | | | | globe arrive and bid on one of a kind artwork or |
| than any of them wanted to. | | | | memorabilia. They will typically pay a very high price |
| For the online business owner it was possible to take a | | | | and with that price comes the knowledge that they |
| unit or two from their stock and sell it via auction. | | | | have something no one else has and perhaps many |
| Generally speaking the interest was incredibly strong | | | | want. |
| with willing buyers paying three to four times the retail | | | | The growth of online auctions is proof that both types |
| price of the units just to ensure they had it by | | | | of auctions are accepted among online shoppers. |
| Christmas. | | | | If you sell a product that is highly desired you may |
| When January came around the market for online | | | | consider the possibility of taking at least one of the |
| auctions that continued to offer units at auction | | | | highly prized items and making it available exclusively |
| continued to be strong. Those who had Christmas | | | | at auction. The reason I suggest this is you can |
| cash were willing to spend it on this gaming device | | | | promote the fact that while you may be out of the |
| even if the auction price seemed absurd to others. | | | | product you are offering one at auction. This allows |
| As business owners these entrepreneurs were | | | | regular customers one last opportunity to get |
| providing a service that ultimately brought them a | | | | something they may have waited too long to |
| sizable profit. When the law of supply and demand | | | | purchase. Additionally for those who have almost |
| was added to the scenario it was seen by consumers | | | | exhausted avenues of purchasing the item they can |
| as the only practical method to gain a coveted unit. | | | | use your auction link to find out more about you and |
| In most cases it was the consumers who actually | | | | what you offer on a regular basis. |
| pushed the price to extreme highs. In many cases the | | | | You can further promote goodwill in the above |
| bid threshold was not set beyond retail price. The | | | | scenario by offering all proceeds to a predetermined |
| consumers created a bid war on available units in an | | | | charity. In either event you can use the online auction |
| effort to make sure the gift arrived before Christmas. | | | | to market your business anytime of year. |
| For those who could wait the units were eventually | | | | |