Auctionideas

  Online auction websites   function like traditional auction houses.   Sellers offer a single item at a time or in multiple lots and buyers bid on them. But here the similarity ends. Online auction websites have data collection systems that are necessary if they are to function optimally. Buyers and sellers register on the website before any transaction can be carried out. Registration is critical if items put up for bidding have to be tracked and the winning bids determined. A database of seller feedback is also included in the sites. However, separate the email address for the auction from your regular email account if you want to avoid spam from flooding your inbox. Online auction websites have a specific time after which any bid will be disallowed. The same is good for sales too as a winning bidder has to make payment within a set time. If bids are not received at or above the reserve price the auction is closed. After a successful auction is achieved, the buyer and the seller

 Holding an auction fundraiser has been one of the most effective methods of non-profit organizations to raise funds. But the Covid-19 pandemic has forced these agencies to shift to a virtual auction fundraiser to sustain themselves and keep all projects running.  If you have not held a virtual auction fundraiser before, here are some tips on how to do so.  • Select a well-established site that does not charge high fees while offering a host of benefits. These include display of items, bidders’ registration, access to payment gateways, and allowing people to bid within a scheduled time. The ideal auction period is one to three weeks.  • The key to holding a successful virtual auction fundraiser is to organize the goods for auction well. You do not pay for the items but solicit them from people who are sympathetic to your cause. Almost anything sells in virtual auctions, from vacation packages to small flea market items. Find the value of the items from the merchants before decidin