Christmas Shopping for Online Auction Sellers

We all know that peoples wallets are tight these days.  With that being said this year for Christmas a lot of my friends and family members are getting gifts for people that are useful and not just buying junk.  As business students we also know that commodity prices have soared in the last two years which makes the price of finished goods go up.  Keeping that in mind anthing that you can give to an auction seller that can help them cut cost or improve thier business is a gift that keeps giving.  So here a few ideas for christmas gifts for them that will help them with thier business.

- Antique books to help them identify antiques
- A digital camera so they can take high quality pictures of items they are selling
- A scanner
- A book with stratagies for online auctions
- Magazine Subscriptions so they can sell the magazines on ebay after they read them
- UPS Shipping labels
- Boxes and tape
- A postage scale so they can save time at the post office
- Bubble wrap

These are just a few gift ideas that someone could give to an online auction seller that could help that seller imporve thier business. 

Kyle Utley




http://www.auctionbytes.com/cab/abu/y200/m10/abu0023/s04

Ebay's Black Friday!

Many times when I think of Black Friday, I imagine the long lines and crazy shoppers waiting outside stores for days to save a couple hundred bucks. I personally waited outside Best Buy this morning to get my hands on one of their tablets for sale (last time I do that again).

But many consumers are now sitting by warm fires with their computers instead of waiting in the cold weather to buy their products on Black Friday. In fact, EBay has several sales going on right now and throughout the weekend to attract customers to their online experience. Even along the busy streets of retailer stores, EBay has been advertising easy and convenient shopping, hoping to gain more market share of traditional consumers.

According to a Washington Post article, "EBay is planning holiday “pop-up” locations in New York, San Francisco and London that will let consumers scan a barcode and buy products on the spot, using mobile phones." These new tactics seem to be working for EBay, as their stock prices have gone up by four percent this year compared to Best Buy's drop of twenty-four percent.

Personally, I am happy to see the trend of shopping shifting towards a more digital form. Of course, I'm biased as I'm having a hard time feeling my toes from the cold this morning. But in any case, it is a great convenience that will hopefully keep people warmer and safer during the holiday season.

Enjoy shopping!
--Tim Chu

http://appadvice.com/appnn/2011/11/the-best-tech-deals-this-black-friday

http://www.washingtonpost.com/business/black-friday-2011-amazon-ebay-launch-campaigns-to-lure-more-customers-to-shop-online-during-holidays/2011/11/23/gIQAyOQsoN_story.html

Want a brand new iPad 2 for less than $100 bucks?

No, I'm not kidding.  I am about to tell you guys the way to do it (I may regret this later...) and yes, it's  completely legitimate.  One of my fraternity Brothers-I'm a member of Alpha Kappa Psi a coed professional business fraternity-has started his own business and it launched earlier this semester.  What kind of business you ask?   Yup, an online auction house.  The name of the auction site is ibid2save.com and it is a penny auction site which some are calling the new wave of online auctions and they are bringing the big boys *cough-ebay-cough* to their knees.  A quick refresher on penny auction sites, they are sites where you can buy brand name, brand new items for literally pennies.  You have to buy bid packages in order to place bids but when you're winning a brand new Sony digital camera for $0.87, you're saving an enormous amount of money.  Brent's site is different because it allows to you earn bids as well as betting on other bid packets.  His advice on winning that brand new iPad 2; first, buy a decent bid pack, second, bid on other bid packets and wrack up on as many bids as you can (some bid packets of over 200 bids go for pennies, literally), and third, wait till the last one to two seconds to start bidding.  Every time you bid with these penny sites, they add another 10 seconds to the clock. 
I know what I'm buying myself for Christmas!

http://www.ibid2save.com/

Real Estate Online Auctions

I found a site that actually sells million dollar houses and property's across the United States. It's called "Realtybid.com," which is a national leader in online auction sales. It was developed by two veterans, Tony Isbel and Mike Keracher, in 2001. It has quickly started to use the internet technology to bring real estate buyers and sellers together. The site sold the most golf course properties at $27million, a property in Northern California for $12.4, a huge resort in Southern Florida for $14.5million, and plenty more. This is the big leagues people. You're not in the penny auctions anymore, trying to sit like a couch potato bidding on a $200 item for $2.37, this is intense. RealtyBid processed sales up to $500million worth of properties all online!

All in all, online auctions aren't just for the folks like you and me, it's for them darn digity 1% greedy fools.
Thank you, come again.

The Future of Online Auctions

One word... Bots.


According to Anne Eisenberg at the NY Times, one day online auctions will be "bot vs bot vs bot" instead of people bidding on goods. The whole idea is centered around shopbots, a new technology being used today that is expected to be improved and expanded dramatically in the coming years.

What is a shop bot?! A personalized computer program that does all your shopping for you! Apparently, these bots can shop on online auctions on your behalf, meaning that you get to save time and you'll be more effective in your bidding, saving you more money-- or at least that's what is supposed to happen. I'm a little skeptical myself.

The main way these shopping bots are able to save you as much money and time as possible is because it operates by scanning many online auctions at once and can respond in a fraction of a second, thus ensuring that your money gets spent on the best deal possible because your bot will be bidding on many auctions at the same time. Ohhh, now its starting to come together- right? The shopbot is able to not only able to respond quicker, but can also make better decisions that I could on my own. Okay, now all you skeptics have to admit... That IS pretty cool, right?!

So... Why don't I have one of these guys? They are still being developed and will be released soon enough (dun, dun dunnn!). Currently, developers are testing out the shopbots in small purchases and "games" to see how they act, and overall the results have been good, but many inefficiencies and limitations of the bots are being realized.

Next question- When can I get my hands on one? There are many many many predictions of when these little guys will be "unleashed", but no real indication can be given, largely because of privacy issues of the firms that are making them. However, there is a consensus that once these bad boys DO hit the market, they will spread like wildfire. The most conservative estimates are saying there will be hundreds of MILLIONS of them out there before we know it. Wow.

Hopefully they will be able to deliver everything they are claiming. If they are able to do all these incredible things, there will definitely be a paradigm shift in the way e-commerce works across the board- B2C, B2B, and C2C!


Source: http://www.nytimes.com/library/tech/00/08/circuits/articles/17next.html

B2B Online Auctions

A lot of times, as consumers, we tend to think of online auctions to being strictly focused on end-consumer terms. But there are many companies who bid for bulk products via online auctions. Even manufacturers bid on parts from suppliers.

But unlike sites such as eBay, Quibids, and other consumer auction sites, B2B auctions have very unique ways of bidding. For example, there is what is called "English reverse auction," in which it is the suppliers that actually offer their prices to buyers. They bid on lower and lower prices until the buyer decides on the price he/she needs. This also gives way to what the business world refers to as optimization, which helps the buyer decide which supplier is most likely to provide the best value in goods and services.

As online auctions continue to innovate and change, so will the way not only consumers buy products, but also businesses and organizations.

http://www.procurementleaders.com/magazines/european-leaders-elp02/articles/11707/

Online Auctions Some Statistics

Online auctions are becoming more popular and the number of people buying and selling goods in this fashion are increasing with each passing year.  These people who have given online auctions a try (just like with any other service offered in the marketplace) either love them, hate them, or are ultimately indifferent to acquiring goods through these means.  That being said here are a few statistics comprised by the National Consumers League that may be able to give you better insight for yourself as to why people have the opinion that they do concerning online auctions.  For those who are like me and have no idea who NCL is and what they do here is their mission statement according to their website.  

For Confidence and Safety in the Marketplace

The mission of the National Consumers League is to protect and promote social and economic justice for consumers and workers in the United States and abroad. The National Consumers League is a private, nonprofit advocacy group representing consumers on marketplace and workplace issues. We are the nation's oldest consumer organization.

NCL provides government, businesses, and other organizations with the consumer's perspective on concerns including child labor, privacy, food safety, and medication information

The Stats are as follows:

- nearly one third of adults in the United States who go online have participated in online auctions

- The average loss per victim (in fraud) in 2000 was $326

- 43% of users are looking for bargains, 23% for hard to find items, and 21% for things they collect

- 83% of users who have participated as bidders have made a purchase

- 75% of purchases are $100 or less

- 94% of buyers were confident that they will get what they pay for from the seller

- only 50% of those surveyed said they always check the sellers rating

- 77% of those buyers that check seller ratings will never buy from a seller that doesn't have any          information about his seller rating

www.nclnet.org

Getting Smart About Buying Online

Online auction houses can be a great place for those interested in saving time, money, and hassle when it comes to finding that perfect item, but it can also be a place of sheer hell if you become a victim of fraud.  Sure it's fun and thrilling to win the purchase but who are you bidding against really?  At times you could be bidding against bogus bidders recruited for the benefit of the seller.  Sure, that gorgeous hand bag you've been salivating over looks really nice in those pictures but are those pictures the real deal?  Is a sellers rating really an accurate depiction of the person you are buying from?  Sometimes not.  Here's a few tips to aid you on your way to a truly successful and satisfying buying experience. 

• Understand how the auction works. Some online auctions sites can't guarantee the sellers will keep their promise, or verify that the merchandise is described accurately or even exists.  Look for credible sites.
• Check out the seller before you bid.  Positive ratings can be pumped up by the seller who "plants" comments or can be lowered by competitors.
• Be careful if the seller is a private individual.  Many consumer protection laws don't apply to personal sales.
• Be especially cautious when dealing with sellers in other countries.  Physical distance, different legal systems, and other factors could interfere with a smooth sale.
• Beware of “shills.”  Sellers can raise the price artificially by recruiting bogus bidders which is illegal.
• Get the name and contact information of the seller.  Having the name, location, address, and even phone number can be very helpful when following up after a sale.  Don't do business with someone who refuses to give their personal information.
• Be wary of claims about collectibles and other expensive items.  A good tip is to print out and save any photos and descriptions of the merchandise for future claims.
• Ask about delivery, returns, warranties and service before you pay.  Get a definite delivery time, ask for insurance, and inquire about warranties (especially on electronics).
• Look for information on the auction site about insurance.  Some auction sites provide insurance up to a certain amount, others use third-party insurers.  Make sure to read the fine print.
• Pay by credit card.  By using a credit card, federal law will protect you in case the merchandise was never delivered.  By using an intermediary service ask what happens in case something goes wrong. 
• Look for bonded sellers.  Some sellers can be bonded by the auction site who has researched their business background and credit history and will guarantee your money back if your purchase wasn't fulfilled.
• Consider using an escrow service for expensive purchases that aren’t covered by insurance or bonding.  An escrow service takes your payment and forwards it to the seller once you confirm your satisfactory delivery, for just a small fee.
• Try mediation to resolve disputes.  Some sites provide a mediation service for disputes among sellers and buyers.  All problems aren't due to fraud, some can be just a misunderstanding or failure to hold up their side of the bargain in a timely manner.
• Inform auction sites about suspected fraud.  Auction sites will sometimes suspend or remove sellers if there are enough claims about fraudulent activities. 

As always, happy (and safe) bidding!

http://www.fraud.org/tips/internet/onlineauctions.htm

Tax Tips for Online Auctions

If you start to gain some money in Online Auctions, and the money is just about the amount you would earn in an actual garage yard sale, then you do not have to report the sale that you've earned. Basically, if you paid more for the items you sold then you don't have to report your sales. Pretty cool, pretty cool. You can also deduct business expenses if you are operating a viable online auction seller business. If you have some appreciated assets such as art, collectibles, antiques, ect. and the sales pricing is more than the cost you are selling at, then you would have a reportable gain which would include business income or capital gains. Also, if you are selling business assets or if you are closing your business then you might have capital gains, ordinary gains or depreciation recaptures to report. Just some tips you might need to know if you want to do business in online auctions.

http://www.irs.gov/businesses/small/industries/article/0,,id=202939,00.html

Auction Addiction

It seems that with any new online service, what is meant to be enjoyable, fun, and harmless can turn into a dangerous addiction if the user is not careful. The creation of eBay and other online auctions was followed swiftly by people becoming hooked on bidding..... This comes from being so obsessed with "winning" whatever product you're bidding on, it becomes overwhelming, consuming your life.

So, how do your know if you're addicted to online auctions? Here are some questions to consider:

• Do you need to bid with increasing amounts of money in order to achieve the desired excitement?
• Are you preoccupied with auction houses (thinking about being online when offline, anticipating your next online session)?
• Have you lied to friends and family members to conceal extent of your online bidding?
• Do you feel restless or irritable when attempting to cut down or stop online bidding?
• Have you made repeated unsuccessful efforts to control, cut back, or stop online bidding?
• Do you use auction houses as a way of escaping from problems or relieve feelings of helplessness, guilt, anxiety, or depression?
• Have you jeopardized or lost a significant relationship, job, or educational or career opportunity because of online bidding?
• Have you committed illegal acts such as forgery, fraud, theft, or embezzlement to finance online activities?

Source: http://www.netaddiction.com/index.php?option=com_content&view=article&id=88%3Aebay&catid=42%3Arecovery-resources&Itemid=86


This epidemic is a growing problem and it is only continuing to grow as time goes on and more and more unique and potentially more addicting online auction sites emerge in the e-commerce world.

In my opinion, I think that penny auction sites are the most addictive of them all because it is so easy to keep bidding and bidding and bidding and the dollar amounts start so small that it may seem harmless, so the money keeps increasing and increasing without notice. Not only that, but I think the shorter auction timers may add to the addiction. Being that the auction may only last 10-20 seconds after each bid, the fast pace inevitably increases the adrenaline rush more and more as time goes by.

On all auction sites, no matter what the time, addiction is highly possible if you're not careful especially since they are now available anytime, anywhere, considering the ease of access we enjoy with Web 2.0 and WiFi networks. It is now possible to connect to the Internet anywhere, whether on a computer at home, school, or work, not to mention on our fancy smartphones.

So the real question... Is it really worth it?

Outrageous Auctions on Ebay

How would you like to spend eternity with a super star?
The crypt above Marilyn Monroe's grave sold for $4.6 million dollars on eBay














How much would you pay for the Holy image of Virgin Mary on a piece of toast?
Someone bought this anointed piece of bread for $28,000



These items, of course, are quite absurd. Personally, I would not be very interested in being buried above Marilyn Monroe, or acquiring a Holy piece of bread. It's no problem if you do, as long as you are willing to pay.

Nevertheless, I do think that these type of auctions are quite the publicity stunts that certainly bring a lot of attention to eBay. These auctions are becoming a sort of trend that turn into free advertisements and free marketing to eBay's name and brand.

So why not enjoy them as a third party viewer? Why shouldn't eBay let a piece of toast sell for $28,000 dollars on their site? If there's someone hungry enough for some Eucharist bread, they'll pay for it. And all parties benefit... unless the bread gets moldy.

http://www.time.com/time/specials/packages/article/0,28804,1918340_1918344_1918380,00.html