Ebay Blows Reverse Auction Rocks
Reverse auction is the business for today's online marketer.
Give me a dollar, give me a dollar, Sold to the gentlemen in the flowery undershirt. Is that the image you get when you think about an auction.
Maybe you visualize scantily clad women standing beside a rare sports car and hearing the bidding start at a few hundred thousand.
Oh, your vision of auction bliss is sitting on E-bay and trying to beat the automated sniper that always gets the product at low dollar and at the last minute.
Reverse auction has a little of all those components in them but is totally different.
The traditional auction was usually in a rented building and was conducted by a very fast talking "caller" or auctioneer. Many have found memories of scratching their nose at the wrong moment and coming home with fifteen bottles of dried up hand cleaner.
Then came some admittedly lame attempts of holding auctions online.
The older sites were horrible. Very poor tracking and no guarantees or protections for buyers or sellers. Then enters E-bay.
Back in the day E-bay was king. A great site for the buyer and the seller. That was back in the day.
Today's E-bay is a shell of it's former self. Oh I know. They are making money for themselves hand over fist. The average seller has found a few snags.
First off. The seller has no rights anymore. E-bay has decided the buyer is always right. While many buyers are honest and upstanding citizens, there are also plenty that will do all they can to scam you out of your merchandise and ruin your online reputation to boot.
They will tell you very quickly that there are hundreds waiting to take your spot and offer no apologies in their self righteous, self ordained glory.
Then they decide to change their entire business model. They think the public wants a Wal-Mart type site that accepts bids. The average Joe finds it hard to sell a slightly used item as cheaply as the big dogs can sell it new for.
This is what is so great about reverse auction.
Starting bid is set at a price higher than what you are willing to take. The bid is hid from your competition.
The first person to bid will place a bid higher than what the selling price is. Most items will receive several bids. The bidding process is what is different.
Each bid is actually lower than the bid before. You have preset an actual "taking price" and therefore will never go below what your acceptable price is.
People get excited about the bidding process.
They say curiosity killed the cat. I have never witnessed that actual event personally but I do know curiosity will get people bidding again and again on your items just to see how low you actually did go.
Some say the process should be outlawed for the fact some people find it addictive. The sad fact is sooner or later someone will press the right buttons and get the debate really going and the sites will disappear.
As of now the sites are going strong and generating profits in record numbers.
Find a good site and sign up. Let your newest online profit model be the reverse auction.
by: Joel Hambit
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