Differences in the Types of Auctions That Take Place Around the World

Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

Easy Home Based Business – Home Based Business Checklist Revealed

There are some important aspects that you need to consider when starting a home based business with a network marketing company or a multi level marketing company because the home based business industry can be very over whelming and if you want to be successful then you are going to need to run an easy home based business.

Why?

Because there is a new person joining this industry looking to start a home based business for themselves every 17 seconds so it is very important that you can offer an easy home based business for even a newbie to run and become successful with.

What are the things to look out for in a company that can provide this easy home based business?

You want to join a company that has a great business overview webinar that you can send your prospects to so you don’t have to do any selling because the best way to sell someone on something is to let someone sell themselves.

You want to be in a position so you can just focus on your prospect, find out why are they looking for a business and what they are looking for in a business.

If you join a company that has a great business overview webinar then you can follow this four step system to create an easy home based business for yourself.

1 – Generate a lead

2 – Have a conversation with your prospect, qualify them to attend the business overview webinar.

3 – Send them to the business overview webinar

4 – Call back and collect their decision

Your entire business model should revolve around this four step system, these are the action steps that will make you money in your easy home based business if you’re not closing sales and bringing people into your business you aren’t making money.

OK so let’s face it without a constant supply of leads this four step system just doesn’t work so when it comes to choosing a company to join you absolutely must have a training centre that teaches you how to market using the internet.

You want an internet marketing university that you can plug your new business partners into so they to can learn the very latest internet marketing strategies for generating targeted leads for their business, leads are the life blood of your business! Without leads you don’t have a business.

If you are putting in the hard work you want to be getting paid the big bucks for your efforts so when you are searching for the right company to join you want a compensation plan that is going to pay big dollars, you don’t want to have to bring 100 people into your business just to make $1000, you want a compensation plan were you can make $1000 – $14000 from bringing just one person into your business this is called a top tier compensation plan.

The compensation plan is a very important part to your home based business because this is your pay structure and you want to maximise your efforts by getting paid big dollars, this makes it all worth while also allowing you to transition from your current employment to working full time on your home based business.

One of the most important aspects to think of when partnering with a company to start a home based business is that you must have a passion for the product or opportunity that you are selling, you want to partner with a company that is closed to your heart and passions because at the end of the day this is a business and if you don’t enjoy working on your business then it just becomes another job.

Partner with a company that has all of the points that I have mentioned and treat it like a business not a hobby, follow the four step system and you can’t go wrong.

Developing Your Small Business Marketing Plan

Along with your business plan, your small business marketing plans is only of the most important long-term plans you’ll make for your small business. Some small business owners choose to ignore that advice, instead preferring to fly by the seat of their pants, so to speak, to “wing it.” While some of those small business owners are successful, they’re not nearly as successful as they could be had they laid out a well-defined small business marketing plan.Small business marketing strategy step 1: Know your marketThe first step in developing a successful small business marketing strategy is to make sure that you have a really solid handle on your target market. Ask yourself: Who are my customers? Once you’ve identified who they are, ask yourself: What are my customers’ problems? What are their dreams and aspirations? The surest way to answer those questions, of course, is to ask your customers themselves. Even if you can’t afford to hire a small business marketing firm that will conduct focus group tests for you, you can do your own simple survey by hitting the streets and talking to those people you plan to sell to (and make contacts at the same time!). You’d be surprised how powerful that simple task is yet how few businesses do it.Small business marketing strategy step 2: Know yourselfThe second step in developing your small business marketing strategy is to get to know yourself (your business), once you’ve gotten to know your customers. Ask yourself: What does my business do? How is my business different than my competitors’? How does my business help solve my customers’ problems or help them achieve their dreams? Answering these questions will help you to define your unique selling proposition – those aspects that set you apart from your competitors.That unique selling proposition should become your brand – your business’s identity. Your brand is what will pervade all of your marketing materials and what your customers will use to identify you. The importance of diligently developing your brand as part of a successful small business marketing strategy can’t be overstated.Small business marketing strategy step 3: Analyze your competitors’ small business marketing strategiesOnce you’ve developed your brand – that unique identity that tells your customers who you are and how you’re different – you can begin thinking about how you’re going to actually market your business. First, look at your competitors’ small business marketing strategies. Are there obvious gaps that you could fill (and thereby stand out among the competition)? For example, if you see that none of your competitors have websites, you could stand out with a small business marketing strategy online.Wherever you market your business, it must be where your customers are. For example, small business marketing online will be a waste if none of your potential customers use the Internet. Likewise, you may think that writing a monthly column in your local newspaper would be a great way to advertise your services and establish yourself as an expert; but if none of your potential customers read that paper, that small business marketing strategy will fail.At this point, your small business marketing strategy will not only be defined by where your customers are and what your competitors are doing, but it will also depend on your small business marketing budget. A full-page spread in a national magazine may be the best way to reach your target audience, but if you can’t afford to shell out tens of thousands of dollars, it’s not the small business marketing strategy for you.Wherever your small business marketing plan takes you, the careful development of your small business marketing strategy – by knowing your market, knowing your business, and analyzing your competitors’ strategies – will be a critical determinant of your long-term business success.