Online Auctions and Liquidations

online auction website

Tips for Successful Online Bidding

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Online auctions allow bidders to get high quality name brand merchandise at unbelievable discounts. However, it’s important that bidders take some time to learn about the process and locate a quality online auction website.

Locate a Reputable Online Auction Website

Several auction websites exist, but they aren’t all created equal. Bidders should look for an auction website that’s easy to use, easy to understand, and offers a wide range of items for sale. Finding an online auction company with prior auction experience could help ensure success.

Figure Out Your Bidding Style

While some people enjoy the thrill of competitive bidding, others prefer to place one bid on multiple items and hope for the best. Although it’s recommended that bidders watch auctions closely as they end, it’s not always necessary.

Set a Maximum You’re Willing to Spend

It’s easy to get caught up in the bidding. Many bidders start small then let their competitive edge get the best of them. Before bidding, bidders should determine the maximum amount they’re willing to spend on each item. Although it isn’t likely you’ll hit this number every time, knowing when to call it quits helps ensure you don’t spend more money than you have. This is especially important for bidders that plan to resell the items they win.

Make Sure You understand the Payment Terms Before Bidding

Different auctions have different payment terms. It’s important that you fully understand when and how you need to pay before placing your first bid. Bidders should start by reviewing the terms and conditions of the online auction website.

Take Advantage of Contact-Less Pick-Up

The pandemic has made many of us more conscious of the risks of close contact with others. Look for an online auction company that offers contact-less pick-up. This helps keep you safe and streamlines the pick-up process. Just make sure to bring someone with you to help load your items.

Pick-Up Your Items On Time

Many auction companies charge a fee if you don’t pick-up during the times stated on the auction. After the auction closes, it’s important that bidders collect their winnings quickly.

Before bidding, make sure you’ll be available for pick-up. For bidders that live outside the area, check to see if the auction company can ship your items prior to bidding. Many online auctions will provide shipping for an additional fee.

Lots of Auctions offers online auctions for individuals, businesses, and resellers. We offer contact-less pick-up in Dallas, Texas. Please click here if you’re interested in becoming a bidder.

Benefits of Selling in Online Auctions

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Online auctions provide an excellent platform for both bidders and sellers. Online auctions provide a convenient option for sellers to clear out old inventory, earn additional revenue, or start a whole new business.

Through an easy-to-use online auction website, sellers can reach more people in less time than possible with any other method. After posting their items, bidders from all over the world can bid against each other without ever having to step foot in an auction hall.

After bidders win the auction, they have the option to pick-up their items or have them shipped for an additional cost. The whole auction takes place online, allowing resellers to complete other tasks or run another business during the day.

Eliminates Geographical Barriers

While in-person auctions and other methods of selling limit customers to those that can travel to a physical location, online auctions allow bidders from around the world to view and bid on products.

Levels the Playing Field

Many start-ups and small businesses have trouble getting their products into the hands of the public. Large, well-known organizations dominate the market, making it difficult for smaller companies to compete. Selling products through online auctions allows resellers and small businesses to showcase their products to millions of people. Because bidders get great values on quality merchandise, they’re more likely to buy from online auctions.

Repeat Buyers

As bidders start to win auctions and see the value they offer, they’ll keep coming back to see what else they can find. Even if they didn’t win the auction they tried for, they’ll probably come back to see if they can find a similar deal. Many resellers and small businesses buy from online auctions, increasing the chance of large sales. It’s not uncommon for resellers to purchase full pallets of merchandise.

Texas Online Auctions

This is just a short list of the many benefits of selling products in online auctions. However, it’s important that sellers locate a quality auction website where bidders can easily sign up and bid for a wide range of merchandise. Choosing an auction company with online auction experience and experience working with resellers ensures the best chance of success.

Lots of Auctions offers online auctions with convenient contact-less pick-up in Dallas, Texas. Our online auction website makes selling easy. Please click here to sign up as a seller.

 

3 Things to Know Before Bidding on Online Auctions

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Starting a business as a reseller provides numerous benefits. Resellers get to set their own hours and determine what, when, and how to sell their products. With so many people looking for a good deal, resellers can make a lot of money.

One of the biggest hurdles stopping most people from starting a business as a reseller is the cost needed to purchase products. Many resellers turn to online auctions to get high quality products at deeply discounted prices. These auctions allow bidders to bid against each other. Many online auctions offer a wide range of inventory ranging from small appliances to vehicles and heavy equipment.

If you’ve always dreamed of starting your own business, becoming an online bidder is an excellent place to start. However, it’s important to figure out a few things before placing your first bid. Read on to learn more.

Figure Out What You Want to Sell

Create a plan before bidding in your first online auction. Consider the types of products your ideal customers would want to buy. These should be products you’re familiar with. Consider how you will sell these products and the space you have available to store them. This will help you determine what to buy and how much of it to bid on.

Many resellers start out selling products online. This is an excellent way to build customer trust and loyalty. It also reduces the amount of space you need to rent and maintain. Online resellers typically store their products at their home or in a storage unit.

Set a Budget

Before looking at what’s available, make sure you know how much you want to spend. Many bidders forget this important step. Unfortunately, spending too much on auction merchandise can limit your ability to make a profit.

Start with a small bid and watch the auction closely. Although it’s rare to win at your lowest bid, it’s not completely impossible. Fortunately, other bidders will likely want to keep the prices low, meaning you’ll get your items at significant discounts.

Avoid Bidding Wars

New bidders often get caught up in the excitement of the auction and end up bidding too much in an effort to beat out other bidders. This does nothing more than cut into your potential profits.

Lots of Auctions offers a wide range of quality merchandise for resellers, small businesses, large corporations, and open-air market sellers. Please contact us, or click here to register as a buyer.

Getting Your Business Back On Its Feet After COVID-19

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COVID-19 has had a major impact on businesses around the world. In addition to forced closures and stay at home orders, many businesses have had to reduce their staff and reevaluate their ways of doing things. This has created a lot of financial insecurities for both small businesses and large organizations that rely on people to buy their products. For companies that haven’t made the switch to online sales, COVID-19 has made it almost impossible to operate.

Business Owners Turn to Online Auctions to Keep Shelves Stocked

Companies that rely on other businesses to supply their products have found it hard to continue business as normal. Many large suppliers of inventory halted operations last April. Unfortunately, several of these suppliers never opened back up, leaving resellers struggling to figure out what to do next.

Businesses and entrepreneurs all over the United States are searching for innovative new ways to make money. Many business owners have utilized online auctions to keep their shelves stocked and sell their merchandise.  Online auctions make it possible for people to buy large volumes of inventory at incredible discounts. Resellers can then offer these items for sale, passing the discounts on to their customers.

Although bidders can find a wide range of inventory available on auction websites, the most popular online auction sites offer liquidated merchandise from major retail stores. They may offer store return liquidation, store closeouts, and/or wholesale pallets for sale. All of these items are listed on an auction website similar to eBay. These site allow buyers to bid on their favorite products. It’s not uncommon for bidders to win high quality brand name merchandise at savings up to 75%.

In addition to helping businesses and entrepreneurs acquire a lot of inventory at deeply discounted prices, online auctions help companies clear out old inventory and keep perfectly good product out of our landfills. Online auctions help our environment and help businesses stay afloat, even during difficult times.

Online Auctions in Texas

Lots of Auctions offers online auctions with convenient contact-less pick-up in Dallas, Texas. We offer a wide range of quality merchandise including wholesale electronics, restaurant equipment, store return liquidation, tools, sporting goods, general merchandise, and more. Our auctions launch weekly and are open to the public.

Please click here to view our featured auctions. Click here if you’re interested in becoming a seller, or click here if you’d like to bid on any of our auctions. Please contact us for more information about our Texas auctions.