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Succeeding with Auctions

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Succeeding with Auctions Powered By Docstoc
					                                              Presented by Daniel Toriola


     Selling and making money on eBay is simple. Anybody of any business or computer experience can make it
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                                 The 3 Minute Auction and Minute Auction Explained
                                                            By Renee Matt



    The 3 Minute Auction and Minute Auction Explained by Renee Matt


Am I the only person who doesn't know what a 3 minute
auction is? Looking for fresh content for my site, I
discover that "minute auction," or even a 5, 10 and 30
minute auction is a popular item. Some auction sites may
refer to a minute auction as a "Live Bid." The "minute
auction" or "3 minute auction" actually comes the closest to
duplicating the excitement (and anxiety) of a real auction.
No, it is not the same as an Ebay minute auction.


I will give the example of Bidz.com. Bidz.com uses Flash
technology to constantly update in real-time auction bids
right before your very eyes! The price goes up, up, up and
the time clicks away ... down, down, down!. Add flashing
green highlights for added new bids and red flashing for the
ominous approaching 0 minute and to say the least, it is
quite thrilling.

On the Bidz home page, there is a link that says 3-minute
auctions. This is a separate category all by itself. If
you click that link you are taken to the 3 minute auctions,
usually consisting of jewelry. (Note: See end of article
for "The 3 minute auction - too good to be true?")

A word of caution: It takes a little finesse to bid at
these fast-paced auctions - and I mean FAST! You must be
EXTREMELY CAREFUL when bidding. The highest bid I came
across on my visit was for $1500. My advice would be to

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                                                Presented by Daniel Toriola


practice on the dollar starting bids. Bids quickly escalate
to $15 and $30. In the words of BidZ:

"If you are bidding on items in the 3 Minute Auctions
category, you will not be notified if you are outbid. These
auctions move very quickly, so you have to monitor your
winning bids very carefully."

Back on the 3 minute auction page of BidZ, what do you see?
From left to right: the product picture, the item number,
title, price, bids, and time left. The "bids" and the "time
left" are where the auction action is at. But just as its
nearing 0 minutes left, it jumps up to more time left - what
gives? According to Bidz.com:

"If the bid is placed during the last minute of an auction,
the auction will be automatically extended for an additional
1 minute from the time of the latest bid. The auction will
close once all bidding has stopped for a period of 1
minute."

OK - I decide I am going to get in on this action.
Registering is free (username must be a combo of numbers and
letters). I have to click on the picture to go to the
listing to actually bid according to Bidz.com directions
below:

1) Simply use the "plus" and "minus" graphic keys to select
the amount you would like to bid. The amount of the next bid
is automatically one dollar more than the current bid.
If you only want to place a one dollar bid, you can just
click the Bid button without any adjustments.

 2) Click the bid graphic button to register your bid.
PROBLEM: I click the Bid! button and then find out I have
to register my credit card in order to bid - but they
didn't tell me that when I was registering (even though I
quite expected it).

Another problem I encounter is a sluggish modem. By the
time I reach the listing page and the picture and bid button
loads, the auction can be over (sigh...).

Its not hard to become giddy over the amazing deals of a 3
minute auction...too good to be true? 3 minute auctions
"typically offer expensive items, such as Cartier watches,
Beanie Babies, computers, and cars at prices that are low
enough to dull the scam alarm in most people."



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The Auction Hot List Newsletter and Companion Auction Site is designed to keep you informed about hot items currently selling.
                                                                                                                                 Page 2
                                               Presented by Daniel Toriola


 This was taken from an auction fraud article. The same
article reports that the Federal Trade Commission has
identified a scam email that includes "Live 3 minute
auctions" in the subject line. See the details of the 3
minute auction scam at http://www.chiff.com/a/fSCAMauc.htm

For a list of minute-auction websites, refer to: The 3
minute auction list at http://shmyl.com/dpzison

My final words: The 3 minute auction and minute auction are
the epitome of auction entertainment. So pop some popcorn,
invite some friends over, and have yourself some Friday
night auction fun!




 Renee Matt maintains AuctionTongue.com, a review site of auction tool, free auction templates,
auction software, auction sniper and image hosting services. AT focuses on auction websites outside
of Ebay. Sign up for their FREE Auction Freebies newsletter
http://www.auctiontongue.com/newsletters/newsletter.htm




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                                                                                                      Page 3
                                             Presented by Daniel Toriola


                                            How To Stop Ebay Auction Sniping.
                                                         By Kirsten Hawkins



 Every day, hapless bidders get beaten to the punch by auction snipers who jump in at the last minute.
I know how annoying it can be, as I once had it happen to me three times in a row on the same item!
The thing is that the only people who can help the poor bidders are us, the sellers.

The Problem.

Bidders will bid on an item and then wait for days until it finishes, only to have someone else outbid
them at the last minute. In a traditional auction at a real auction house, this isn’t a problem at all, as the
auction keeps going until everyone has bid as much as they want to, and the auctioneer double-checks
with the classic phrase “going, going, gone”.

The problem on eBay is caused by the fixed length of time that eBay’s auctions last, and the fact that
they aren’t extended significantly if someone places a new bid in the last few seconds of the auction.
Imagine if a real auction house worked that way, letting people shout “50 cents more!” at the last
second and win an item. It would simply be unfair, and many buyers think it’s unfair on eBay too.

The Solutions.

Until eBay decide to fix the problem (and by now it’s looking unlikely that they ever will), you’re the only
one who can do anything for your buyers.

First off, you can encourage your buyers to use eBay’s proxy bidding system the way it was intended.
The idea of the system is that they enter the maximum they’re willing to pay for an item and eBay
places bids for them automatically up to that maximum. They’re not supposed to come back and bid an
extra dollar every time they get outbid.

If your bidders are bidding high enough, then no sniper will even come along and beat them – because
they will have set the maximum snipe level in their sniping software to less than the normal bidder’s
maximum. Changing the way people use eBay is hard, though.

One alternative is to keep an eye on who’s bidding on your auction, and cancel bids from known
snipers – but this requires you to be around right at the end of the auction to cancel their bids. You
might also want to set your auction to end sometime when bidders will be around so that they can
outbid snipers themselves. This is good business sense anyway – most of the bidding always takes
place in the last few hours of an auction.

An easier way to thwart bid snipers is to offer ‘Second Chance’ sales to bidders who get outbid by a
sniper at the last minute. This is good for you, and for them – they still get to buy the item they wanted,
and you’ve just made two sales: one to the sniper and one to them.

Once you’ve sold your items, though, you might be upset to find that one of them gets returned for a
refund. Our next email will show you how to turn these returns into profits!




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The Ultimate Step-by-Step eBay Auction eBook for Moms!
                                                                                                            Page 4
                                              Presented by Daniel Toriola


Kirsten Hawkins is an Ebay and internet auction enthusiast from Nashville, TN. Visit
http://www.auctionseller411.com/ for more great tips on how to make the most from Ebay and other
online auctions.




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Related eBooks:

How To Stop Ebay Auction Sniping.
The Importance Of Ebay Auction Software
10 Things You Should Know Before You Bid On A Business Product From An Online Auction
Types Of Online Auctions
Vacant House: What’s my move?

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