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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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Your Home Based Business! How To Start?

When you are planning to start a home based business keep in mind that it is pretty much the same as starting a traditional business. In my point of view in any given business my number one motto is be a people’s person. BUILD RELATIONSHIP from your first encounter, I learnt this when I worked as an Activities & Entertainment Manager in the tourism industry for over 19 years.

When you learn this one skill then the rest will just fall in… intelligence, courage, energy, perseverance, commitment, market researching, product development, marketing, advertising, sales, planning, time management, patience. Despite of what you hear or read online this is not going to be an overnight thing. When you see these types of promises and programs. RUN!

There are lot’s of competition and opportunities out there. At the beginning you will need to work more to get your home based business up and running and then you can start implementing the strategies necessary to succeed.

You MUST set a goal before starting a home based business. Ask yourself these questions. WHY do you want to start your home based business? To accomplish the objectives of your business, what are the steps you will need to take? How much time and money you are going to need for your business? Are you going to have an office for your business? In your own home when will be the best time for you to conduct business? If you are one of these people who dislike’s having to get up in the morning at set times to go to work, then I suggest you take up this challenge. Challenge your life in doing something new…

Having a home base business will give you some flexibility also it’ll eliminate the commute, but as I said earlier you are going put in some work at the beginning to get your business up and going. At least you won’t have to listen to bosses dictating what you can do and cannot do.

You will need to implement self-control in your life to avoid all of the distractions that take you away from your business. Your home based business is your life and blood so you are going to treat it as a business, which calls for commitment, perseverance, self-discipline, patience on your part to make it work.

There are several approaches to making money in your home based business. You can choose to create your own products or join several established affiliate programs. Creating your own products is a very long process. You have to deal with payments, refunds, shipping, complains etc. But if you decide to take this approach then it’ll payoff at the end, but then you are left with twice or three times the load compared to my favourite method of home based business. Which is Affiliate Marketing.

With affiliate marketing all you do is help someone else sell their product and you get 50% to 75% of the total cost of the product. This type of home based business and can be setup on autopilot, which means you set it up right once and it’ll earn money while you sleep or on a vacation… You can work on your home based business 2 to 3 hours daily by monitoring it and driving traffic to it consistently. It’s up to you… you are the boss!

You don’t have to choose affiliate marketing to make money for your home based business. If you have a professional skill set or as an independent contractor you can do some freelance work, this is one way for starting your own business. There are typing works, virtual assistant, network marketing, sell you 2nd hand stuff on eBay, and there are lots and lots other business out there.

Hard work, Intelligence, Resourcefulness, is all required for creating a successful home based business. I encourage and challenge you to START your home based business. Trust in yourself and believe in yourself that you can do it… and don’t quit! I believe you can do this…

Building a Successful Home Based Business Empire!

Building a successful home based business empire will require analyzing five key factors. Once you get comfortable with these five factors you should have a very good idea of which home based business opportunity you’ll want to get involved in!A quick warning before we get into the meat of the article. If you are considering building a successful home based business empire you’ll obviously spend some time researching what opportunities are out there. Be very careful here, if anyone “guarantees” a certain amount of income or tells you that making money from home is easy, DON’T WALK, RUN from these offers. Let’s not forget that a home based business is just that, a BUSINESS.Nothing is guaranteed in business and it’s not easy. I’m not saying this to discourage you or scare you away because there are some great opportunities out there for you to build your home business empire, but understand that whatever you choose will be challenging and it will require a big effort from you to be successful. That being said I personally know home business entrepreneurs that have earned well into seven figures from home, but I also know that they put in the effort to get the return.OK, OK you get it so enough with the lectures, let’s get into the five factors you’ll need to consider when choosing the which home business opportunity is going to help you achieve the success you want!1) What’s the initial investment? When considering this keep in mind that less may not be more. In other words a larger investment may give you a better opportunity to earn a higher income quicker. Some opportunities may not even require an upfront investment, think affiliate marketing. Whatever the size of the investment you’ll want to do you due diligence on the company your signing on with prior to getting started.2) What are your ongoing expenses? Any business owner will tell you one of the most frustrating things to manage is overhead. It’s a moving target and take a business under quickly. In considering a home based business you”ll have a leg up almost immediately here because your overhead is going to be significantly lower than a traditional business. That being said different opportunities are going to have varying expenses. I would suggest staying away from anything that’s going to require purchasing inventory. In today’s Internet world even if you’re going to sell product you should be able to use a drop ship company to help with the storage and shipping of products.3) What type of opportunity will you choose? This is a tough one because we all have different interests and passions. I would suggest spending some time thinking about what your hobbies or passions are. It’s much easier to build a business around something you love than it is to just chase money. From this perspective network marketing can be a viable possibility for a home based business empire because there is a wide range of network marketing opportunities available and you will probably be able to identify one that ties in with your passion.4) How long will it take for you to be profitable? You’ll need to run some projections here, but I would suggest that for a home based business you need to be profitable within 2-4 months.5) What equipment is required? From my perspective I don’t want to get involved in something that requires me to load up on new equipment. For one thing it’s going to eat away at potential profits, but I also don’t want to learn how to use new equipment. You’re going to have enough on your hands learning how to run your business and I would argue that you need to limit your learning curve as much as is possible to your business and how to get it to profitability ASAP!Once you have worked through these five factors you should be able to zero in on a few opportunities that meet the criteria you’re looking for. Once you’ve decided on the opportunity you’re going to choose, roll up your sleeves and have fun building you a successful home based business empire!Feel free to check out my blog at http://www.askchrispatterson.blogspot.com.

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