The Income Opportunity Home Based Business Truth That Will Shock You

The Astonishing Truth About Any Income Opportunity Home Based BusinessYou’ve probably been searching online for an easy way to replace your current income. Well let me start by saying you’re in for a surprise!While everyone with an internet connection is trying to sell you something online, I’d like to personally take the time out to offer you some insight. Insight that will allow YOU to make a decision and not be forced into an income opportunity home based business without knowing what you’re in for.There are many, many opportunities to make an income from your home if that’s what you desire. But with these opportunities are the “small print” that doesn’t tell you just how much work it takes to create an income that you can actually live off of.That’s what I’m here for today. To tell you WHAT you’re going to need and HOW you’re going to have to do it.Any MLM, network marketing, direct sales opportunity derives off marketing, PERIOD. If you’re the type of person that is deathly afraid of selling anything, or even having a conversation with someone about a product or service, you’re bound to fail at a home business.Here are the first things you must have in order to enjoy the benefits of an income opportunity home based business.

The Right Mindset – Confidence in yourself has EVERYTHING to do with your success in an income opportunity, no matter if it’s in your home or on the JOB.

The Time To Focus – Just as you or anyone else would dedicate 8-12 hours at a JOB for a boss, you have to be willing to dedicate a certain period just for your business. Time that will allow you to focus, educate yourself, and produce valuable marketing efforts that will drive you closer to that full time income.

Minimum Amount Of Funds Available – Yes, just as if you were to open a franchise business, you’re going to need some funds to start an income opportunity home based business. Start up costs, monthly fees, and additional marketing expenses WILL come into play as you’re building your personal empire.
Now That You’ve Understood That, Let’s Move OnThose qualities I just mentioned above are just your first step in creating some form of profit from a business at home. Without those qualities, and sorry to be so vague, you’re pretty much destined to fail.Sounds intimidating? To some, it probably is.But know this, my job and my purpose is NOT to force you into something you’re not ready for. Like many business professionals online, our goal is to provide you the RIGHT information to make your own decision.As far as an income opportunity home based business, there are several that can meet your needs but few that will actually allow you to market a service that will NEVER go unutilized.Juices, lotions, energy drinks, and home cleaning products are just a few of the products you can sell online. But in our current economy, who can continue to afford to waste their hard earned money on things of luxury?Nevertheless, one service that will always be in demand is the continued search for financial education.Learning how to increase your income, establish a higher credit score, and knowledge on how to invest your hard-earned money from your business will ALWAYS be in continuous need for many, many years to come.For this reason, I’ve personally chosen this avenue as my income opportunity home based business and by far have met my expectations.Which Income Opportunity Home Based Business Do You Recommend?Here it comes, the time that I mention to you what I personally recommend. First, let me explain to you what it is NOT:
No, it’s not “Get Rich Quick” scheme.
No, it’s not another multi-level marketing business.
No, you do not have to maintain a stock level of item in your home to sell.
And finally, NO, you don’t have to be confined to your home to work this business. It can be done from ANYWHERE you choose.
You’re probably anxious to know what it is by now.Guess what? I’m not going to tell you either! (Just kidding)The business I am informing you on is “Providing others a form of financial education through the training and support of professionals previously in the fields of financial advisors, investors, and wealth management.”

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Finding a Home Based Business Opportunity

Home-based business opportunities these days abound. If you’re looking for a way to supplement your income or start an exciting new career, there’s likely a one that suits your skills and interests. Millions of people around the world are taking advantage of work-from-home opportunities, enabling them to take control of their own work lives, finances, and achieve a work-life balance.Home based businesses offer people the opportunity to set their own hours, control their own income and develop their skills and talents. While many are part-time projects used by their owners to create a supplemental source of income or to create a self-funding hobby, a growing number of people are turning their home businesses into full-time careers.Hot career fieldsIf you want to start a business from home, but aren’t sure what type of business to start, here are a few to consider:* A home based business in entertainment shopping and travel. It’s easy to learn, and the better models will have team-support and the added benefit of reduced price shopping and luxury holidays.* Home computer businesses are an easy way for people to make money from home. If you’re tech savvy you can offer your friends and neighbors support services. Many people prefer to deal with a local support service than having to contact a call center that could be anywhere in the world.* Internet marketing is an exciting and growing business model. With a few easy-to-learn marketing, writing and web design skills, you can quickly learn how to make a substantial income from selling products and services online and helping others market their businesses. Even if you don’t want to do it yourself, there are great outsourcing services who can do the hack work for you, while you focus on business growth.* Virtual assisting is a growth field for those wanting to work from home. A growing number of companies are choosing to outsource clerical duties to outside contractors to reduce benefit costs. A virtual assistant receives work online and performs data entry and other administrative tasks for a company. By snagging several of these jobs, you can create a steady stream of dependable income.* Medical coding is another great home-based business. Many hospitals and doctors’ offices outsource their coding work to outside contractors. A good medical coder can work for several clients and bring home a significant income.The number of home based business opportunities that require little or no training to start up is growing all the time, but require time to master. Finding a mentor to help will short-cut your learning curve.

Securing a Small Business Loan

Insufficient funding is one of the top reasons why 80% of businesses fail within the first year and a half. As a business owner, not only do you have to cover all operating expenses, but the time and effort needed to succeed means you will almost certainly have to bid farewell to your day job and regular pay checks. Unless you’ve saved up enough to pay for everything for at least 18 months, you will probably have to find other sources of funding.However, here we encounter another problem. A recent survey cited by the Credit Union Times showed that only about one-fifth of small business owners – incidentally about the same rate of successful businesses – rely on a small business loan. The survey showed that 62% were fearful of taking on a loan and almost one-fourth of respondents think they would not be approved for one. A Harvard Business School working paper by Karen Mills (Administrator of the US Small Business Administration until 2013) showed even more discouraging statistics. Banks continue to apply measures that restrict small business lending since the financial crisis hit, since such loans are generally always riskier than those to large businesses. Loans amounting to $1 million or less – the domain of small businesses – have gone down 21% since 2008. These loans made up half of all bank loans in 1995, but only 30% in 2012.So what can you do to have a better chance at securing a loan?As the saying goes, “The devil is in the details.” Given the stricter requirements of banks, you will need to come up with a very convincing plan that shows your business will truly make a profit. Each number presented has to be supported by hard evidence or at least some realistic projections backed by in-depth research. There must also be a clear plan as to where the money will go and how it will influence your business’s success.Aside from this, your entire personal finances will also be scrutinized, so make sure your taxes, mortgages, credit cards, assets and liabilities, and even your credentials are all spotless and in order.The bottom line is, if you believe in your business idea and do the necessary due diligence in coming up with a sound budget and business plan, there should be no reason to be denied a small business loan. Otherwise, you may want to reconsider quitting your day job.

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Good Stories, Good Authors, Goodbye

GOOD stories, good authors, goodbye – victims of the book plague. Book plague? And why should good authors fear?

Because already too many good authors have lost their lustre, overpressed by their publishers and the marketers who control those publishers. There are too many bad books by good authors, a plague caused by global business. The good authors and their good stories are most prone to succumb.

Plague symptoms accelerate as we near the lucrative pre-Christmas buying spree, when brand-names swamp the bookstores.

Brand-names, get it? Many good authors have become just brand-names and nothing else, reclassified by the whizguys who manipulate the industry. A record one-million books got published last year, big-biz grabbing the biggest spoils.

Good stories and good authors still exist. Amazon has them hiding in its vast wilderness, and http://www.booktaste.com links to some goodies. Nevertheless the book plague rages on. Publishers caught in the global haggle cannot wait for their star scribblers to complete a new masterpiece. Hence the prized brand-name can appear on work ill-structured, unfinished, and often unreadable. Production gets sloppy, too. Count the misprints.

Hasty writing and skimped editing meets the deadline, but also destroys creativity. A manuscript that should be returned for a rewrite here and there is gleefully accepted and launched into bookstores incomplete, pimpled with errors, and likely to disappoint its buyers.

After paying to read a favourite brand-name, and regretting it, reader faith disappears and wallets tighten.

Why do publishers slaughter their golden geese? Because global business ranks marketers above editors.

Why don’t major reviewers expose this greed, this mediocrity offered as genius? Because the tsunami of brand-name titles drowns honest assessment.

Small Business Servers – A Need For Change

Many small businesses don’t have an IT department or anyone experienced enough to handle even basic IT tasks like backup, system restoration, patching or updates. In most cases, they rely on a local business partner (typically an IT consultant or local IT support company) to handle these tasks.

Unfortunately, many small business IT solutions on the market today exacerbate the situation. Their complexity…

requires the need for ever more powerful hardware
results in frequent system crashes and downtime for upgrades
compounds security problems
necessitates frequent system restorations
increases the investment in resource to upgrade systems and fix problems
Whats needed is a new generation of ‘small business servers’ that deliver all of the essential IT & technology services for smaller businesses but without the usual costs or hassle.

Challenges in supporting micro and small business customers

To stay in business small businesses need help with basic IT chores, which are becoming more mission critical than ever as they grow more time consuming to deliver.

Just look at business continuity and disaster recovery in small businesses. A study by Gartner found that only one third of small businesses surveyed said they were prepared for a disaster within the next 12 months.

In other words two thirds of all small businesses are not prepared for a disaster or protected. The reason, in most cases, is that small businesses don’t have the IT skills of solutions to perform common tasks like backing up critical data or developing a way to restore systems that crash or become damaged when a pipe breaks or there is a fire, flood or other disaster.

Small businesses also need help just backing up and restoring files when someone accidentally deletes them. Such deletions in small businesses are quite common.

Whilst everyone understands the need for data to be backed up, what many don’t realise is how expensive and difficult it actually is with traditional solutions. In fact, the traditional approach to backing up data is a time consuming and resource intensive task. The normal procedure requires tapes to be rotated, in the right order and taken off site for secure storage.

Plug In, Switch on & Start Working

Security within smaller businesses is also an issue. Hackers today are after confidential information about businesses and their clients to commit fraud and identify theft. They employ increasingly sophisticated attacks that may use socially engineered phishing email messages. These spam messages are designed to fool even savvy computer users in to thinking they are from legitimate sources. An unsuspecting user might click on malicious executable file or URL link to a poisoned web site and automatically download malicious software.

In their pursuits hackers increasingly exploit new vulnerabilities in applications and Windows operating systems as a means of infecting computers. To battle this problem, software vendors issue frequent system updates and security patches that must be installed quickly to minimize exposure to each new threat.

In 2008, Microsoft alone issues 43 critical, 24 important and two moderate fixes, according to security experts. The previous year saw a similar amount, including 49 critical, 23 important and five moderate updates. Other application and browser vendors had numerous updates as well.

Again, many small businesses don’t have the IT expertise to track all of these patches or the time to install them. Beyond security patches, there are typically many operating system updates that must also be applied. Such installations are often time consuming.

Unfortunately many of these fixes incur downtime, which no business likes. For example, in many situations, a business must first test a patch or upgrade to be sure it does not cause problems. If the test goes well, planning must take place to be sure the changes are made at a time that least inconveniences its workers. Again, many businesses are looking for help with these matters from their business partners. The challenge for the business partner is that all of these tasks (testing, planning, applying etc.) are all time and labour intensive.

Problems with traditional Small Business Server Solutions

Even the smallest business today requires certain basic capabilities. Workers need to share files and printers. Additionally, their data must be protected and their systems must be secure.

The burden on the business partner to provide these services typically requires the use of multiple solutions from different vendors. The mix often includes a server OS and file system from one vendor, backup software from another, and security products including firewall, anti-virus, anti-spyware and anti-spam software etc from even more vendors.

Managing such a mix can add to a business partner’s workload. Each product must be managed with its own administrative system, and each must be updated on its own. There might also be conflicts when trying to get different vendors products to work together.

Additionally supporting such a mix of applications might introduce security issues. For example, if a firewall and anti-spam solution are not in sync with regard to the level of protection each affords, one might work in detriment of the other.

The end result when using multiple solutions is that the time investment per client grows as the complexity increases. It also increases the time investment a business partner must make in learning/training. Their staff must be knowledgeable about many discreet products in order to support their small business client’s workers.

Compounding matters, the traditional choices have had their problems. Solutions designed specifically for smaller businesses often could not scale to support a business growth. For this reason, many of the solutions commonly used are not designed specifically for small businesses. But this only adds to the management burden placed on the business partner because they must customize or scale down these solutions to meet the needs of small businesses.

Additionally, such solutions are often bloated with features not needed in smaller businesses. For instance, directory services might be overkill for a company with fewer than twenty people. Yet, its administration is as time consuming for twenty as it is for one hundred or more.

Similarly, an enterprise solution might be so narrow focused that it lacks key features for small business, thus requiring a patch work of solutions to meet a business’s basic needs. For instance, a firewall might need a third party anti-spam or anti-virus solution to provide more complete protection.

In either case, trying to force fit an enterprise solution into a small business environment can add to the management workload.

What’s needed: Desirable characteristics?

With these concerns in mind, there is obviously a need for an alternative to the enterprise patchwork solutions that are currently being cobbled together and used in small business today.

Any solution that addresses these pain points must be designed specifically for small businesses and the business partners who serve them. It must enable customers do email, create and share documents, centrally manage files, store and secure business data, control access to information, connect offices, employees and partners whilst protecting their network and systems from unwanted disruptions and intrusions.

It should be less complex so that it requires less IT support than traditional solutions. Additionally the solution should be Linux based. The reason: Linux is stable and reliable. This would simplify management and make solution subject to less downtime than some alternative solutions. Additionally being Linux based reduces many security problems, as far fewer attacks, generally speaking, are aimed at Linux than traditional operating systems.

Furthermore, most operating systems are packed with drivers, utilities and services that are seldom used. An ideal solution would only use the parts of the Linux Kernel that are needed to perform the desired functions. This would reduce potential vulnerabilities.

To simplify matters further, the solution should be very easy to deploy. For example, it should be offered as a simple plug and play solution in the form of an appliance. And the solution should support remote management to troubleshoot and correct small problems, as well as recover from a system crash.

A solution with these characteristics will save a business partner valuable time that would otherwise be needed to administer solutions at every client’s site. This saves time and money. It allows a business provider to provide services in a more economically efficient manner to existing customers. And it frees up time to solicit and support new businesses.

Enter: An affordable solution designed specifically for small businesses

Small Business Server Appliances are a new breed of Small Business Server Solution they are delivered delivered as a plug and play hardware appliance, everything is included. Its pricing structure is simple and straight forward. Business partners do not have to deal with multiple and complex licensing agreements as is the case with many alternative offerings where you are required to switch platforms (or upgrade hardware) above 75 and 100 users, or when email and data storage requirements reach a certain limit.

Small Business Server Appliances offers file and print sharing; firewall, anti-virus, anti-spam protection; email, calendaring, contacts, tasks; secure remote access; data backup and disaster recovery features; office productivity tools; and automated system updates.

Everything is included within the appliance as a single solution. And business partners can use the platform to deploy other applications that a client might need.

The high performance appliance hardware allows a powerful solution to be delivered in a small footprint. This also provides the ability to scale solutions as a clients business grows up to 500 users without artificial licensing barriers. Furthermore, the appliance format also makes the solution very easy to deploy, typically it can be up and running in about 20 minutes.

Setting the solution apart: Autonomic features and benefits

Small Business Server Appliances are designed to run on their own at a customer’s site with little intervention from the business partner. To accomplish this we make use of autonomic features that automatically handle many routine tasks and can correct many problems on its own as they arise. These autonomic features ensure that the small business stays up and running and its systems and data are protected, all while off loading time consuming IT tasks from business partners.

For example Small Business Server Appliances comes pre built and pre configured and can usually be implemented in around twenty minutes. There is no monitor or keyboard, the admin interface is accessed via an IP address securely through HTTPS which enables you to manage the appliance remotely. In contrast, alternative solutions often require the business partner to load 5 to 15 CD’s to get a system running initially.

Small Business Server Appliances also has the ability to self manage automated backups to a disc based storage device (on or off site), to a hosted backup service in addition to traditional tape or USB based storage devices. A few Small Business Server Appliances also provide the option for integrated hot swap backup discs to be used which enable data to be backed up continually throughout the day.

Summary

With Small Business Server Appliances, business partners get an easy to implement and easy to manage solution that has specifically been designed for smaller businesses.

Small Business Server Appliances come pre built and ready to be used this solution offers a rapid time to value.

All of the attributes of Small Business Server Appliances pay dividends twice over. First, the small business client is happy, because they can do their jobs without computer related interruptions. And second, a business partner can deliver a high level of service while dedicating minimal IT resources and staff to each client.

The autonomic features of the solution reduce the time and resources a business partner must invest to begin work with a new client and to support existing small business customers. For example very little training is required to become familiar with the solution, so business partners quickly leverage the solution and immediately become more profitable.

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?

Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.

HOW PENNY AUCTIONS WORK!

The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.

HOW TO WIN!

Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.

HOW TO AVOID SCAM SITES!

Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.

CONCLUSION!

New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

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How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.

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Hiring An Auction Company

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.

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Five Tips for Selling at Live Auctions

Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.

People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!

Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.

Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.

Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.

After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.

Tip 2: Be sure you clearly understand the terms and policies of the auction house.

Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.

Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.

Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.

Tip 3: Make sure the auctioneer knows what you’re selling.

It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.

Tip 4: Present your items neatly.

No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.

There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.

While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.

Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.

The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.

Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.

If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.

Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!

The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.

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Real Estate Auctions – The New Land Rush

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

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