An auction is basically a public sale wherein any object is sold to the highest bidder. It can be defined as a process of purchasing and selling things by offering them up for bid, taking bids and selling the things out to the highest bidder. This is what is generally the case. However, a sale to the lowest bidder may also take place, in cases where land is sold for non-payment of taxes to anyone willing to take it for the shortest term; or where a contract is offered to an individual or party willing to take it for the shortest term; or where a contract is offered to an individual or party willing to perform it at the lowest price. Such cases too seem to fairly come under the purview of the term ‘auction'.
In case of auction the seller presents the products on a public platform. The selling price of the products are determined by the bids or offers of buyers interested in buying them based on their individual estimation of value of and need of the products. The person offering the highest bid at closing of auction receives the right to purchase the products at the bid price. The winner of the bid is normally legally bound to buy the item auctioned. In recent times auctions have been conducted online.
The benefits of auction are many. Some of the significant advantages are:
a) The auctioned item fetches the highest price in the given situation. Thus, in a way there is the maximization or optimization of profit.
b) At an auction the goods are almost certainly disposed off after bidding by their sale to the highest bidder. Hence, this serves as the right podium for disposing or selling out of accumulated goods. Otherwise, business could have become stagnant due to the stocking of these goods. Certain items could also have perished (in case of perishable goods) or expired if not sold out in time.
Tip! If a lot doesn't sell, ask if the auction accepts after-sale bids (a reasonable offer that a bidder makes after the auction closes for an item that did not sell). Some auction houses allow it.
c) In case of auctioning a variety of articles may come up for sale, which may not be otherwise available in the market. The buyer can get quite surprised by looking at a treasure trove of antique articles available at an auction.
d) An auction can also be considered as a method for estimating the value of certain commodities which have hitherto undetermined or variable prices.
Author bio: Author: Kellin http://www.autocastle.com/ http://www.autocastle.com/dealers.asp
Thursday, November 29, 2007
House Refinance: 3 Financial Benefits You Can Experience with the Right House Refinance Loan
You may be presented with numerous mortgage refinance options, but have you really stopped to think about how a good mortgage refinance solution can benefit you? A good house refinance solution can provide you with money now to do home improvements. These home improvements can increase the value of your property significantly, and this can translate into you getting a higher selling price for your home should you decide to sell it in the future. A home refinance can also provide you with the option to save a great deal of money on your mortgage interest rate, which allows you to keep more of your hard earned money. Learn 3 Financial Benefits You Can Experience with the Right House Refinance Loan.
1) Receive an Extra Incentive for Making Home Improvements You Have Wanted to Complete, but Have Not Had the Money You Needed to Finish Your Projects.
If you are like many homeowners, you may have a list of home improvements you want to make, but you just haven't had the money to make the improvements.
Refinancing your mortgage can allow you to use some of the equity in your home to do Home improvements. If you make home improvements that improve the value of your property e.g. kitchen remodeling, your property will be more attractive to prospective buyers if you choose to sell your home in the future. This can mean you can sell your house for thousands more! Hopefully the additional equity you can receive will provide you with more incentive to finish your Home Improvement projects sooner than later.
2) Get a Lower Interest Rate.
If your financial situation or credit situation has changed since you purchased your original loan, you should consider a house refinance to take advantage of lower interest rates. Low rate refinance solutions can allow you to keep more of your hard earned money.
3) Save Money Refinancing Your Variable Interest Rate Mortgage Into a Fixed Interest Rate Loan.
Refinancing your variable loan into a fixed loan can save you thousands of dollars especially as interest rates continue to climb. If you plan on staying in your home for several years, it may not be beneficial in the long run for you to have a variable interest rate.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
Although many adjustable rate mortgage loan programs allow you to choose your payment option each month (e.g minimum, interest only or full P&I payments), if you only opt to make minimum loan payments for years to reduce your monthly expenses, you will find yourself paying a great deal more interest over the life of your loan than you could have ever imagined.
If you plan on staying in your home for several years, and can't handle rising interest rates, refinancing your adjustable rate mortgage to a lower fixed mortgage rate may be a great option for you. Obtaining a low rate refinance solution that fits YOUR needs can be one of the best decisions you can ever make towards your financial well being now, and in your future.
Tip! Often auction houses charge a buyer's premium. It is an additional surcharge that the auction house adds to the hammer price, taxes are calculated after these two are added.
For additional mortgage refinance resources please visit =>http://www.i-mortgagenetwork.com/Refinance_Mortgage.htm
T. Crowley provides resources that can help you find the best mortgage loan solution for YOUR needs. Visit her website =>http://www.i-mortgagenetwork.com and receive a FREE, NO OBLIGATION House Refinance quote.
1) Receive an Extra Incentive for Making Home Improvements You Have Wanted to Complete, but Have Not Had the Money You Needed to Finish Your Projects.
If you are like many homeowners, you may have a list of home improvements you want to make, but you just haven't had the money to make the improvements.
Refinancing your mortgage can allow you to use some of the equity in your home to do Home improvements. If you make home improvements that improve the value of your property e.g. kitchen remodeling, your property will be more attractive to prospective buyers if you choose to sell your home in the future. This can mean you can sell your house for thousands more! Hopefully the additional equity you can receive will provide you with more incentive to finish your Home Improvement projects sooner than later.
2) Get a Lower Interest Rate.
If your financial situation or credit situation has changed since you purchased your original loan, you should consider a house refinance to take advantage of lower interest rates. Low rate refinance solutions can allow you to keep more of your hard earned money.
3) Save Money Refinancing Your Variable Interest Rate Mortgage Into a Fixed Interest Rate Loan.
Refinancing your variable loan into a fixed loan can save you thousands of dollars especially as interest rates continue to climb. If you plan on staying in your home for several years, it may not be beneficial in the long run for you to have a variable interest rate.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
Although many adjustable rate mortgage loan programs allow you to choose your payment option each month (e.g minimum, interest only or full P&I payments), if you only opt to make minimum loan payments for years to reduce your monthly expenses, you will find yourself paying a great deal more interest over the life of your loan than you could have ever imagined.
If you plan on staying in your home for several years, and can't handle rising interest rates, refinancing your adjustable rate mortgage to a lower fixed mortgage rate may be a great option for you. Obtaining a low rate refinance solution that fits YOUR needs can be one of the best decisions you can ever make towards your financial well being now, and in your future.
Tip! Often auction houses charge a buyer's premium. It is an additional surcharge that the auction house adds to the hammer price, taxes are calculated after these two are added.
For additional mortgage refinance resources please visit =>http://www.i-mortgagenetwork.com/Refinance_Mortgage.htm
T. Crowley provides resources that can help you find the best mortgage loan solution for YOUR needs. Visit her website =>http://www.i-mortgagenetwork.com and receive a FREE, NO OBLIGATION House Refinance quote.
Real Estate Open House - Stage an Open House with Borrowed Furniture?
Recently I showed a house in an middle-class area. I had the pleasure of meeting the owner of a new business - Staging Open Houses. What a good business. This idea is not new but the lovely lady I met added her own twist to this.
Mary's primary business is Home Decorating. She has a great affinity for homes, their furnishings and decorations. She explained to me some of her strategies for finding clients for both of her affiliated businesses. She visits open houses and meets the Real Estate Agents. After explaining her business and handing out cards, she offers to go thru the house and give the Agent some free tips to help make the atmosphere more pleasurable for the visitor.
After having experienced this tour, I decided to check out other ways to accomplish this task without having to hire an independent consultant. I found that you can rent furniture from Rental companies and, it may be possible, to make an arrangement with a local furniture store to borrow some furniture. This arrangement can help both the Agent who is now showing a less than empty house and the Store, for free advertising. This is a good way to help your sales efforts and, at the same time, help you to become known in the business community.
Tip! As auctions tend to cater for property professionals, rather than the general public, advertising and awareness of auction houses is limited.
Real Estate Sales takes time, connections and serious dedication. An active Agent should look for ways to improve their sales while working on other things. I call this NET time. I attempt to use NET (No Extra Time) whenever I can to accomplish more than one task for both Real Estate Sales and being a good neighbor.
Nancy Woodward is an Accountant and Real Estate Professional. Visit her online RealEstateLady.
Mary's primary business is Home Decorating. She has a great affinity for homes, their furnishings and decorations. She explained to me some of her strategies for finding clients for both of her affiliated businesses. She visits open houses and meets the Real Estate Agents. After explaining her business and handing out cards, she offers to go thru the house and give the Agent some free tips to help make the atmosphere more pleasurable for the visitor.
After having experienced this tour, I decided to check out other ways to accomplish this task without having to hire an independent consultant. I found that you can rent furniture from Rental companies and, it may be possible, to make an arrangement with a local furniture store to borrow some furniture. This arrangement can help both the Agent who is now showing a less than empty house and the Store, for free advertising. This is a good way to help your sales efforts and, at the same time, help you to become known in the business community.
Tip! As auctions tend to cater for property professionals, rather than the general public, advertising and awareness of auction houses is limited.
Real Estate Sales takes time, connections and serious dedication. An active Agent should look for ways to improve their sales while working on other things. I call this NET time. I attempt to use NET (No Extra Time) whenever I can to accomplish more than one task for both Real Estate Sales and being a good neighbor.
Nancy Woodward is an Accountant and Real Estate Professional. Visit her online RealEstateLady.
Advantages of a Branded House or a House of Brands
If you want to win by growing your market share — there is a better way, a smarter way, than the traditional advertising and marketing strategy and tactics. However, it requires looking at your business and brand from a very different point of view. This different point of view is hard to grasp because old myths die-hard and old expensive myths seem to die hardest of all.
If you need to steal share, it does not require underhandedness (as the name might suggest) it requires smarts. If you think that "stealing," as it relates to taking market share, is a short cut to success — a means to cheat your way to success — you are dead wrong. Winning requires great effort and hard work because it means you must outsmart your competition in order to achieve success. In our book, you must learn how to be different and smarter. You must stop seeing the "marketing game" as you learned it in college, even if college was just last year. Things are changing and the future belongs to those that recognize and use change to their advantage.
It is All about Scarcity
Start with the idea of scarcity. Encapsulated within scarcity is the entire concept of value. We only value scarcity. If we discovered a heretofore hidden mountain range made entirely of gold, the owner would not be rich because the abundance of gold in the market would make the metal a commodity, with all of the inherent value of tin. Everything has a value measured by its scarcity — the greater the scarcity, the greater the value.
The pharmaceutical industry today is a case study in scarcity because the profits they glean are in direct proportion to the uniqueness of the patent. They protect scarcity by patenting their concoction and then defending that patent as if their very lives depended on it. And they are right; their livelihood does depend upon it. Wall Street analysts will talk about these pharmaceutical companies in terms of product pipelines, FDA approvals, and waning patent rights. The mix of the three is the difference between a BUY, SELL or HOLD stock recommendation.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
In the absence of any other reason for the physician or patient to choose which pharmacological compound to prescribe and use besides drug efficacy, these companies had better keep the pipeline filled with new drugs and new patents. Only when a product like VIOXX is pulled from the market because of troubling side effects, does the physician council the patient that the OTC available product, ibuprofen, has nearly the same efficacy.
The REAL problem here is a fundamental idea that it is a smart strategy to build your "business home" as a house of brands rather than as a branded house. If you don't mind chancing your fortune by putting all of your eggs in the "R&D" basket then being a house-of-brands is not a bad idea.
Things are Not as They Once Were
Often, in the beginning of a company's life cycle, companies differentiated themselves with one or two break through products. It was simply easier to market product efficacy than it was to dig deeper and understand just what the customer is buying (who the customer is buying is closer to the truth) and why. It was, and still is, the conventional marketing wisdom. In addition to requiring greater smarts and dispassionate intellectual vigor, being a successful branded house requires as a prerequisite the ability to see your customer, not as an asset to exploit, but as a partner to understand, and with whom one must empathize.
Tip! If a lot doesn't sell, ask if the auction accepts after-sale bids (a reasonable offer that a bidder makes after the auction closes for an item that did not sell). Some auction houses allow it.
What is a Branded House?
A branded house, when done properly, has an overarching reassurance to the customer that those that choose this BRAND share an attribute. Not a product attribute but an identifiable personal attribute that not only sets them apart but is integral to their own personal identification. Choosing such a brand is not necessarily a matter of showing off or display. Rather it is absolutely a means of self-discovery and personal fulfillment instead of having to rely solely on product attributes like in the house of brands model.
Tip! Only Invaluable gives you unrivalled access to pre-sale and post-sale information for auction houses and salerooms across the globe.
So, when a branded house launches a new product or sub-brand, the new addition to their stable automatically gains a level of acceptance and importance because of the previous identification with the parent brand. Most branded houses make the mistake of believing (in this case a form of self-deception) that the parent brand equity is also about efficacy or category. We reiterate: this idea is corporate identity at best. More often, is it simply an acknowledgment of the commodity benefits — benefits of the category that comprises your business's sandbox. Parent brands differentiate themselves not by their category or offering but by identifying the type of customer who chooses it. We use the word type very loosely because we are not talking about segmentation based solely on race, religion, ethnicity, nationality, gender, age, or education. These may all play a part in identification of the target market but the real key is in understanding the belief systems that are shared as germinal, by your most coveted customers. The parent brand is how the customer knows that the brand is for them.
Efficiency is What Matters Most
Generally speaking, creating a branded house is a more efficient model than being a house-of-brands because it allows for a more cost effective means for new product launches and brand extensions. However, executing the house of brands strategy successfully requires uncommon diligence and hard work. Both of these are scarce — and therefore very valuable. It is just plain easier to launch individual brands or to try to differentiate your "branded house" by the table stakes of your category because all these require is an understanding of yourself — not an anthropological understanding of your most coveted prospects.
Tip! For large fine art auction houses such as sotheby, you can be assured that the art piece is already appraised and is authentic. However, if you are looking for an art piece at smaller auction houses or online art auctions such as ebay, you do need to be extra careful.
You would think that REAL "branded houses" would be common. They are not. Automobile companies like Ford, Chevy, Chrysler, Dodge, and the like are not Branded Houses in any real sense, rather, they are old vestiges of a business that has become more known for individual "brand models" and even more so by category descriptors of vehicle type like SUV, pick-up, and mini-van. These categories are identified as "integral" and then the shopper chooses from among the many offerings within that category. It is no wonder that the torch of automotive dominance is being passed from "the big three" to a multitude of others.
Want to Win
If you want to win in the market today, you must find the courage and wisdom to get out of your own way. The obstacle to success is often the company's identification with what it believes is its importance and identification instead of what the target market believes is its importance and ID. Once we can bypass all the old ideas and beliefs, you can start your branded house on the road to steal share. Doing so is so rare, "scarce" if you will, and its value is almost immeasurable.
Tom Dougherty
CEO, Senior Strategist at Stealing Share, Inc. (http://www.stealingshare.com) Tom began his strategic marketing and branding career in Saudi Arabia working for the internationally acclaimed Saatchi & Saatchi. His brand manager at the time referred to Tom as a "marketing genius," and Tom demonstrated his talents to clients such as Ariel detergent, Pampers and many other brands throughout the Middle East and Northern Africa. After his time overseas, Tom returned to the US where he worked for brand agencies in New York, Philadelphia, and Washington, DC. He continued to prove himself as a unique and strategic brand builder for global companies. Tom has led efforts for brands such as Procter & Gamble, Kimberly Clark, Fairmont Hotels, Coldwell Banker, Homewood Suites (of Hilton), Tetley Tea, Lexus, Sovereign Bank, and McCormick to name a few. Contact Tom at tomd@stealingshare.com.
If you need to steal share, it does not require underhandedness (as the name might suggest) it requires smarts. If you think that "stealing," as it relates to taking market share, is a short cut to success — a means to cheat your way to success — you are dead wrong. Winning requires great effort and hard work because it means you must outsmart your competition in order to achieve success. In our book, you must learn how to be different and smarter. You must stop seeing the "marketing game" as you learned it in college, even if college was just last year. Things are changing and the future belongs to those that recognize and use change to their advantage.
It is All about Scarcity
Start with the idea of scarcity. Encapsulated within scarcity is the entire concept of value. We only value scarcity. If we discovered a heretofore hidden mountain range made entirely of gold, the owner would not be rich because the abundance of gold in the market would make the metal a commodity, with all of the inherent value of tin. Everything has a value measured by its scarcity — the greater the scarcity, the greater the value.
The pharmaceutical industry today is a case study in scarcity because the profits they glean are in direct proportion to the uniqueness of the patent. They protect scarcity by patenting their concoction and then defending that patent as if their very lives depended on it. And they are right; their livelihood does depend upon it. Wall Street analysts will talk about these pharmaceutical companies in terms of product pipelines, FDA approvals, and waning patent rights. The mix of the three is the difference between a BUY, SELL or HOLD stock recommendation.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
In the absence of any other reason for the physician or patient to choose which pharmacological compound to prescribe and use besides drug efficacy, these companies had better keep the pipeline filled with new drugs and new patents. Only when a product like VIOXX is pulled from the market because of troubling side effects, does the physician council the patient that the OTC available product, ibuprofen, has nearly the same efficacy.
The REAL problem here is a fundamental idea that it is a smart strategy to build your "business home" as a house of brands rather than as a branded house. If you don't mind chancing your fortune by putting all of your eggs in the "R&D" basket then being a house-of-brands is not a bad idea.
Things are Not as They Once Were
Often, in the beginning of a company's life cycle, companies differentiated themselves with one or two break through products. It was simply easier to market product efficacy than it was to dig deeper and understand just what the customer is buying (who the customer is buying is closer to the truth) and why. It was, and still is, the conventional marketing wisdom. In addition to requiring greater smarts and dispassionate intellectual vigor, being a successful branded house requires as a prerequisite the ability to see your customer, not as an asset to exploit, but as a partner to understand, and with whom one must empathize.
Tip! If a lot doesn't sell, ask if the auction accepts after-sale bids (a reasonable offer that a bidder makes after the auction closes for an item that did not sell). Some auction houses allow it.
What is a Branded House?
A branded house, when done properly, has an overarching reassurance to the customer that those that choose this BRAND share an attribute. Not a product attribute but an identifiable personal attribute that not only sets them apart but is integral to their own personal identification. Choosing such a brand is not necessarily a matter of showing off or display. Rather it is absolutely a means of self-discovery and personal fulfillment instead of having to rely solely on product attributes like in the house of brands model.
Tip! Only Invaluable gives you unrivalled access to pre-sale and post-sale information for auction houses and salerooms across the globe.
So, when a branded house launches a new product or sub-brand, the new addition to their stable automatically gains a level of acceptance and importance because of the previous identification with the parent brand. Most branded houses make the mistake of believing (in this case a form of self-deception) that the parent brand equity is also about efficacy or category. We reiterate: this idea is corporate identity at best. More often, is it simply an acknowledgment of the commodity benefits — benefits of the category that comprises your business's sandbox. Parent brands differentiate themselves not by their category or offering but by identifying the type of customer who chooses it. We use the word type very loosely because we are not talking about segmentation based solely on race, religion, ethnicity, nationality, gender, age, or education. These may all play a part in identification of the target market but the real key is in understanding the belief systems that are shared as germinal, by your most coveted customers. The parent brand is how the customer knows that the brand is for them.
Efficiency is What Matters Most
Generally speaking, creating a branded house is a more efficient model than being a house-of-brands because it allows for a more cost effective means for new product launches and brand extensions. However, executing the house of brands strategy successfully requires uncommon diligence and hard work. Both of these are scarce — and therefore very valuable. It is just plain easier to launch individual brands or to try to differentiate your "branded house" by the table stakes of your category because all these require is an understanding of yourself — not an anthropological understanding of your most coveted prospects.
Tip! For large fine art auction houses such as sotheby, you can be assured that the art piece is already appraised and is authentic. However, if you are looking for an art piece at smaller auction houses or online art auctions such as ebay, you do need to be extra careful.
You would think that REAL "branded houses" would be common. They are not. Automobile companies like Ford, Chevy, Chrysler, Dodge, and the like are not Branded Houses in any real sense, rather, they are old vestiges of a business that has become more known for individual "brand models" and even more so by category descriptors of vehicle type like SUV, pick-up, and mini-van. These categories are identified as "integral" and then the shopper chooses from among the many offerings within that category. It is no wonder that the torch of automotive dominance is being passed from "the big three" to a multitude of others.
Want to Win
If you want to win in the market today, you must find the courage and wisdom to get out of your own way. The obstacle to success is often the company's identification with what it believes is its importance and identification instead of what the target market believes is its importance and ID. Once we can bypass all the old ideas and beliefs, you can start your branded house on the road to steal share. Doing so is so rare, "scarce" if you will, and its value is almost immeasurable.
Tom Dougherty
CEO, Senior Strategist at Stealing Share, Inc. (http://www.stealingshare.com) Tom began his strategic marketing and branding career in Saudi Arabia working for the internationally acclaimed Saatchi & Saatchi. His brand manager at the time referred to Tom as a "marketing genius," and Tom demonstrated his talents to clients such as Ariel detergent, Pampers and many other brands throughout the Middle East and Northern Africa. After his time overseas, Tom returned to the US where he worked for brand agencies in New York, Philadelphia, and Washington, DC. He continued to prove himself as a unique and strategic brand builder for global companies. Tom has led efforts for brands such as Procter & Gamble, Kimberly Clark, Fairmont Hotels, Coldwell Banker, Homewood Suites (of Hilton), Tetley Tea, Lexus, Sovereign Bank, and McCormick to name a few. Contact Tom at tomd@stealingshare.com.
The 3 Minute Auction and Minute Auction Explained
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 practice on the dollar starting bids. Bids quickly escalate to $15 and $30. In the words of BidZ:
Tip! � Some auction houses are notorious for their complicated fee schedules, which make it easy to tack on hidden charges later. So discuss everything openly before hiring an auction firm.
"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:
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
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."
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 www.chiff.com/a/fSCAMauc.htm
Tip! For large fine art auction houses such as sotheby, you can be assured that the art piece is already appraised and is authentic. However, if you are looking for an art piece at smaller auction houses or online art auctions such as ebay, you do need to be extra careful.
For a list of minute-auction websites, refer to: The 3 minute auction list 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!
About The Author
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/; renee@auctiontongue.com
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 practice on the dollar starting bids. Bids quickly escalate to $15 and $30. In the words of BidZ:
Tip! � Some auction houses are notorious for their complicated fee schedules, which make it easy to tack on hidden charges later. So discuss everything openly before hiring an auction firm.
"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:
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
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."
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 www.chiff.com/a/fSCAMauc.htm
Tip! For large fine art auction houses such as sotheby, you can be assured that the art piece is already appraised and is authentic. However, if you are looking for an art piece at smaller auction houses or online art auctions such as ebay, you do need to be extra careful.
For a list of minute-auction websites, refer to: The 3 minute auction list 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!
About The Author
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/; renee@auctiontongue.com
Increase the Selling Price of Your House with House Painting
Bob Vila of This Old House fame tells people to "…be kind to their neighbors when picking a color scheme." His house painting advice is echoed by realtors and builders across the country. The color that you paint your house, they say, can affect the value of all the other houses in your neighborhood. That's one of the reasons that many homeowner associations limit house painting color choices for homes in their communities. While you might feel that house painting is a personal choice, there's a good deal of sense to the painting restrictions that some homeowners face. A garish purple house with Halloween orange shutters on the block can effectively make it almost impossible for anyone else in the neighborhood to get full value for their home if they choose to sell. A cohesive house painting color scheme that's carried on from property to property adds enormously to the appeal of a neighborhood. In some cases, the house painting restrictions are based on more than just owner preference. On the West Side of one New England town, for instance, is a neighborhood of historic period houses all built in a similar Edwardian style. Owners who purchase houses in the Tatnuck community usually sign an agreement upon purchase that they will maintain a white or gray exterior with shutters in black, green or red - and that they will only use white Christmas lights at the holidays. So what colors are good choices for exterior house painting? According to Realty Time magazine, the choices are, in order, white, gray, blue, tan or brown, cream, beige, green, yellow and red. Of those, the overwhelmingly most popular house painting color is white, with over 37 percent of all homeowners stating that if they were repainting a house, they would choose white. While gray is the second most popular color, most realtors would recommend painting your house a pale shade if that's your choice. The reason? Lighter colors brighten a house and make it seem more spacious. Among the other colors, the favored shades tend to be muted tones, often in ‘historical' themes. House paint manufacturers like Benjamin Moore and Sherwin Williams often name their paint colors to cater to that trend. Thousands of houses across the country are painted Williamsburg blue or Colonial green. If you do want brighter accents in your exterior house painting scheme, advise Realtors, confine yourself to the front door and shutters. A front door that's painted a friendly blue or warm red, they say, puts buyers in a good mood as they enter your house. And who'd know better than the guys that sell houses?
Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies on the web. Visit this Home Improvement Website and Majon's Home Improvement directory.
Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies on the web. Visit this Home Improvement Website and Majon's Home Improvement directory.
Your Auction Headline Or Title - The Most Important Part Of Your Auction
The words you select to describe your item will have a tremendous impact on the final price it receives or if it receives any bids at all. This is because no matter how great the item is you have up at auction, if you use words that don't lead prospective buyers to it, no one will ever see it. You have a total of 45 spaces to use for your auction headline to get people to visit your auction, so it's extremely important that you use each space wisely.
The vast majority of buyers search through eBay listings by entering the item they are looking for into eBay's search engine. The main auction search engine only searches for words listed in auction titles. If a person selects a word that isn't in your auction title, your auction won't come up as a result of their search.
This means that by far the most important task you have when composing a title for your auction is to use words that are relevant and specific to the item you are listing. While this may seem obvious, a lot of sellers don't do it (in fact, searching for listings in which people have ineffective or mis-spelled titles can often get you some great items which you can resell for a profit).
If you are going to spend any extra time on your auctions, thinking through the best key words for your title is where you should spend that time.
With a limit of 45 spaces, writing everything you want in the title just isn't going to be possible. For example, say you have a consignor with a complete set of four bobblehead giveaways, sponsored by Mountain Dew, that the Minnesota Twins gave away at select home games during the 2002 season.
Although accurate, that description is way too long for the allowable number of spaces. The key is to think through an accurate description that includes everything and then taking the most important words out of that and using them.
A simple title might read "Minnesota Twins Bobbleheads". However, that title would be ineffective because it isn't specific enough. While there are many buyers who are looking for Minnesota Twins memorabilia and bobblehead dolls, the categories are too large and your auction will be lost among all the listings. You will have a very limited number of people who will ever see your auction.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
A better title might be "2002 Complete Set Minnesota Twins Bobbleheads". This title uses every available space and gives a specific description of what you are selling. It will also now appear in results for a narrower search.
Another possible title might be 2002 Minnesota Twins Bobblehead Bobble Head". People searching for this item type bobblehead into the search engine, while others type bobble head. A search for one will not bring up any results for the other, so at times it's to your advantage to list two different spellings of the same word.
Tip! As auctions tend to cater for property professionals, rather than the general public, advertising and awareness of auction houses is limited.
Take a few minutes to think about who would want the item you are selling and, if they were searching for it, what words would they be most likely to type into the search engine.
You will find many sellers using what some call Power Words. These are words such as RARE, LIMITED, VINTAGE, UNIQUE, WOW, GREAT, WONDERFUL and AWESOME. Many sellers seem to think that using words such as these will attract more bidders to their auctions.
I''ll guarantee you right now, that no one types any of these words into eBay's search engine. The use of words such as these does nothing but take up valuable space that could be used for words buyers do search for. Avoid them like the plague.
Tip! � Some auction houses are notorious for their complicated fee schedules, which make it easy to tack on hidden charges later. So discuss everything openly before hiring an auction firm.
The same applies to the symbols so many sellers use in their headlines. They try to make their headline stand out by using symbols such as $,#, %, and @ in their auction titles. A particular favorite of many is L@@K!. Once again, all of these are a complete waste of valuable title space.
The only symbols you should ever use are & or + when their use will save you valuable title space.
Acronyms and abbreviations are another matter however. Collectors of certain items have developed their own abbreviations and acronyms for certain commonly used phrases within their specific collecting specialty. It is to your advantage to learn at least some of these.
Tip! Only Invaluable gives you unrivalled access to pre-sale and post-sale information for auction houses and salerooms across the globe.
NR, for example, means "No Reserve." To a Star Wars collector ROTJ means "Return Of The Jedi." Becoming familiar with some of these that are common with the type of items you sell will allow you to get more key words into the limited space which will result in more people viewing your auction.
Spend some time browsing the titles that others have created for their auctions. Look for both good and bad examples of titles. Just spending a few hours doing this and thinking about where the seller could have improved their title will help you enormously in writing titles for your own auctions.
Never forget - the first step is getting buyers to your auctions because if they can't find them, they can't buy anything from you.
Gary Hendrickson has been making his living selling on eBay for more than six years. He's the author of two eBay related ebooks, has a blog for eBay sellers, and is the owner of ColdItems.Com.
ColdItems.Com The Auction Rebel Blog
The vast majority of buyers search through eBay listings by entering the item they are looking for into eBay's search engine. The main auction search engine only searches for words listed in auction titles. If a person selects a word that isn't in your auction title, your auction won't come up as a result of their search.
This means that by far the most important task you have when composing a title for your auction is to use words that are relevant and specific to the item you are listing. While this may seem obvious, a lot of sellers don't do it (in fact, searching for listings in which people have ineffective or mis-spelled titles can often get you some great items which you can resell for a profit).
If you are going to spend any extra time on your auctions, thinking through the best key words for your title is where you should spend that time.
With a limit of 45 spaces, writing everything you want in the title just isn't going to be possible. For example, say you have a consignor with a complete set of four bobblehead giveaways, sponsored by Mountain Dew, that the Minnesota Twins gave away at select home games during the 2002 season.
Although accurate, that description is way too long for the allowable number of spaces. The key is to think through an accurate description that includes everything and then taking the most important words out of that and using them.
A simple title might read "Minnesota Twins Bobbleheads". However, that title would be ineffective because it isn't specific enough. While there are many buyers who are looking for Minnesota Twins memorabilia and bobblehead dolls, the categories are too large and your auction will be lost among all the listings. You will have a very limited number of people who will ever see your auction.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
A better title might be "2002 Complete Set Minnesota Twins Bobbleheads". This title uses every available space and gives a specific description of what you are selling. It will also now appear in results for a narrower search.
Another possible title might be 2002 Minnesota Twins Bobblehead Bobble Head". People searching for this item type bobblehead into the search engine, while others type bobble head. A search for one will not bring up any results for the other, so at times it's to your advantage to list two different spellings of the same word.
Tip! As auctions tend to cater for property professionals, rather than the general public, advertising and awareness of auction houses is limited.
Take a few minutes to think about who would want the item you are selling and, if they were searching for it, what words would they be most likely to type into the search engine.
You will find many sellers using what some call Power Words. These are words such as RARE, LIMITED, VINTAGE, UNIQUE, WOW, GREAT, WONDERFUL and AWESOME. Many sellers seem to think that using words such as these will attract more bidders to their auctions.
I''ll guarantee you right now, that no one types any of these words into eBay's search engine. The use of words such as these does nothing but take up valuable space that could be used for words buyers do search for. Avoid them like the plague.
Tip! � Some auction houses are notorious for their complicated fee schedules, which make it easy to tack on hidden charges later. So discuss everything openly before hiring an auction firm.
The same applies to the symbols so many sellers use in their headlines. They try to make their headline stand out by using symbols such as $,#, %, and @ in their auction titles. A particular favorite of many is L@@K!. Once again, all of these are a complete waste of valuable title space.
The only symbols you should ever use are & or + when their use will save you valuable title space.
Acronyms and abbreviations are another matter however. Collectors of certain items have developed their own abbreviations and acronyms for certain commonly used phrases within their specific collecting specialty. It is to your advantage to learn at least some of these.
Tip! Only Invaluable gives you unrivalled access to pre-sale and post-sale information for auction houses and salerooms across the globe.
NR, for example, means "No Reserve." To a Star Wars collector ROTJ means "Return Of The Jedi." Becoming familiar with some of these that are common with the type of items you sell will allow you to get more key words into the limited space which will result in more people viewing your auction.
Spend some time browsing the titles that others have created for their auctions. Look for both good and bad examples of titles. Just spending a few hours doing this and thinking about where the seller could have improved their title will help you enormously in writing titles for your own auctions.
Never forget - the first step is getting buyers to your auctions because if they can't find them, they can't buy anything from you.
Gary Hendrickson has been making his living selling on eBay for more than six years. He's the author of two eBay related ebooks, has a blog for eBay sellers, and is the owner of ColdItems.Com.
ColdItems.Com The Auction Rebel Blog
Real Estate Auction Action - Buying A Home At Auction
Due in part to the popularity of the U. S. Department of Housing and Urban Development (HUD)'s home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction aren't limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com!
Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner.
Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc.
At the auction itself, resist the temptation to get into a personal bidding war, just "to beat out the other guy". Have a set price limit and stick to it. Other houses will come along, and you don't have to win the first auction that comes your way.
You should know that the price of a home at auction is typically the loan balance (if foreclosed), plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, it's possible to get a great deal in an auctioned house, with a little research and planning first.
Also, know that you probably won't be able to get an inspection, and are buying the home "as is". If you can't do any needed repair work yourself, or can't hire it done within your budget, you may not end up getting such a bargain in the end.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner.
Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc.
At the auction itself, resist the temptation to get into a personal bidding war, just "to beat out the other guy". Have a set price limit and stick to it. Other houses will come along, and you don't have to win the first auction that comes your way.
You should know that the price of a home at auction is typically the loan balance (if foreclosed), plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, it's possible to get a great deal in an auctioned house, with a little research and planning first.
Also, know that you probably won't be able to get an inspection, and are buying the home "as is". If you can't do any needed repair work yourself, or can't hire it done within your budget, you may not end up getting such a bargain in the end.
Tip! Once you are able to make contact with the auction house, ask to be put on their mailing list. Although there is likely to be charge for this, you will begin to receive details of properties due for sale.
About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
Your One Stop Online Auction Shop: Finding that Perfect Auction Site
Selling through online auctions is a great way to earn extra cash or even start a full-time business. When you find your one stop online auction shop that's just right, it can become a very lucrative business. There are many auction websites, but you'll want to find a site that best fits your selling needs. Here are some tips. Be an Auction Lurker Before listing your items, observe the auctions for a while. See what's hot and what's not. Every auction site will have its own unique audience. Some will attract more of certain types of buyers than other auction sites. The auction company might advertise more to certain groups of people using banners or paid search engine listings. If you're selling wholesale products, then you will naturally want to list with an auction shop that attracts wholesale buyers who are looking for great bargains. If selling household items, you'll want an audience of people who buy household auction items. Also, observe how the site operates on a day-to-day basis. Do the auctions seem to end with more bids on certain days of the week or a certain time of the day? For instance, auctions that end on late Saturday night get more bids than those ending on a Tuesday night. Lurking at different auction sites will help you find a one-stop online auction shop that's right for you. Test Your Auction Items When searching for your one stop online auction shop, try several test auctions with some of your items. Monitor the response as well as the amount of traffic the listings receive during the auction's running time. Many auction sites allow you to place a visitor counter on your auction pages so you can know how many people view your auction. If you sell many types of products, advertise several items from a few categories. Minimize Auction Expenses There are many online auction shops that offer free or low-cost listing capabilities. Some auction sites only take a percentage of each sale while others may charge a fee for each listing whether you sell or not. Those auction sites that offer free listings and/or only take a percentage of each sale are very beneficial to you as a seller. You only pay when you sell items instead of paying high fees just to advertise your products, so you are taking no risk when listing your items. Though these auction sites may have smaller amounts of traffic than the larger bidding sites, you might find the savings will make it worth your while. After all, auctions are supposed to be "bargain" sites, right? Some auctions charge a fee AND take a percentage of each sale. These may have more traffic, but the charges add up in a hurry and every listing can become a financial risk when you're just starting out. With so many options, you can easily find a one-stop online auction shop that fits your budget and listing needs. Use these tips to find that perfect online auction shop and sell those unwanted items today!
Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies on the web. Learn more about Find the Perfect Auction Site or Majon's Business and Entrepreneurs directory.
Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies on the web. Learn more about Find the Perfect Auction Site or Majon's Business and Entrepreneurs directory.
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