Is a private auction or public auction better for you? One of the most important you will make is whether you want to have a public or private auction. If you are not sure of the advantages of each and which will be better for you, learning the benefits of a private online auction will be wise. This is going to greatly improve your chances of finding an interested buyer.
Sellers have a lot more flexibility and really have the auction more in their hands when they go through with a private auction. So as a seller you will have more freedom and can be more confident in what you are auctioning off. You can also have buyers put higher bids on your items than most auction sites will allow. Sites like eBay and Etsy usually have maximum limits that bidders can reach so for instance you would not be able to make $100,000 off a $1,000 piece of jewelry if you were selling it over one of these sites.
If you had something that was priced over the limit, for instance a piece of real estate, you would want to have a private online auction. Then you still have all the advantages of an online auction including having such a large audience because the auction is online and is accessible to so many more people. But then you are also able to target the buyers you want and make sure you get the quickest buy. There is no point in offering a super expensive item to a group of people that are not going to have any interest in it.
To improve your chances of finding a buyer and making the process faster to boot, it is always better to target your main audience and go about things this way. Always be careful when going through with your first auction and especially if it is something really valuable like a home or vehicle. You will want to have all the legal contracts written up and ready to sign. The last thing you want is to end up putting yourself out money or ending up in trouble on your own account.
Take a look on a site like eBay for instance and you will see lots of clothing, collectibles and other items that are not so expensive. This is a popular style of auction, one where a seller has listed multiples of the same items. It all depends on what items you are looking to auction off, but in most cases the private auction is the way to go. You may also want to get professional help to guide you through the first few private auctions.
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