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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.

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Home Based Business – Offline Marketing Strategies

The Internet has become the largest medium of communication; and has presented a lot of business opportunities.

Online home based business owners tend to limit themselves to online marketing methods. Nevertheless, there is a huge potential to promote your home based business through some cost effective offline marketing strategies.

So what are the most effective offline marketing strategies for your home based business?

1. Word of mouth in your circle of influence Word of mouth is one of the best free advertising channels. We all have people we interact with on a daily basis, and these are potential customers. Make a list of all the people you know or interact with and how can you best tell them about your internet business. Be passionate about your internet business and always be prepared to tell someone about it when an opportunity to do so presents itself!

2. Mail-out newsletters and flyers Mail-out newsletter or flyers can be effective if you target it to a specific ‘group’. You could create one to distribute to local day care centers just as an example – and in your newsletter or flyer, highlight the benefits of an online business to the targeted group, for example earning money at home for stay at home moms or dads. Posting your home based business URL on bulletin boards can also be effective.

3. Use and give away free branded ‘stuff’ You can promote your business by having your URL on all your stationery, all written communication and other items you can give away for free. If you want to get a lot of people to know about your home based business, you will need to come up with some creative ways of promoting your URL. You can be limited only by your imagination. Have your business cards with your home based business URL. Give them out to people you meet, leave them about where you can, such as in your local coffee shop.

4. Newspapers and magazines Local newspapers are good for advertising your online business. Most local papers have ‘home business opportunities’ section, so you run a regular classified advert. In addition, contact your local newspaper or business-oriented magazine and let the business editor know you have a new business and web site and what you offer. Local newspapers are frequently interested in featuring local business people and their accomplishments. This is free advertising and should always be used. You can also contact your local magazine and offer to write a monthly or weekly guest column for them, and include your ‘author bio’ and home based business URL.

5. Joint ventures with offline business You can get into a joint venture partnership with an offline business which sells a complementary product or service to your home based business. If you can identify a partner that best fit your business, this is an important offline marketing strategy that can help you succeed in your home based business by enabling you to reach potential customers that you could not reach before. As an example, if you have a website selling fitness/health products or tips, you could prepare a leaflet and make a deal with an offline local fitness/health shop where they giveaway your leaflet to their shoppers with each purchase.

The offline marketing strategies strategies outlined above can help you grow your home based business.

Why You Should Consider Starting a Home-Based Business

Many types of businesses can operate out of the home, but finding one that works for you can be a challenge. Most find that starting a home-based business solves and relieves many of the problems presented with a traditional career. This article explores the benefits of working from home, and why you should consider starting a home-based business.With the state of the economy, more people are looking for cheaper solutions to cover their needs. Many of these needs are met by home based businesses. With lowered expenses, and increased tax benefits, most home businesses are able to provide their service for a low cost, while still making a suitable profit. This is often why consumers choose low-key private operations, such as these, over large corporations. The demand alone is evidence that these businesses are becoming more popular, and a great reason why you should consider starting a home-based business.Another point to consider is the freedom that comes with a home-based business. With parents having to work to support their families they are left with less time to actually spend with their children. Working from home allows you to completely cut out driving, which saves time, money, and in the long run, leaves more time for your family – not to mention that you can choose when, where, and how you want to work. That’s right, no more missed ballet recitals or soccer games – working at home allows you to be the parent that a traditional job would otherwise prevent. A home-based business means that you get to make all the rules, and no more being forced into pointless meetings to having to work late. These aspects amongst other are why you should consider starting a home-based business.A Chinese proverb says “What you desire is always possible. It will come to you.” This outlook on life is similar to that of someone who operates a home business. Perhaps the best reason why you should consider starting a home-based business is that you are in control of how much money you make, once you find your selling niche you can choose how hard and how long you work. In other words, you choose how much money you make. Whether you just want to be able to pay all your bills, or be able to live a bit lavishly, you can choose how much income you need to feel comfortable.In conclusion, these are just a few examples of why you should consider starting a home-based business. The time is now: demand has never been higher and getting started has never been easier. The freedom and room for profit alone are indicators that this business is for you! With some simple planning you could be up and running in no time; the possibilities are endless! Good luck!