Real Home Based Business For Professionals – What Every Professional Person Should Know

A real home based business for professionals is becoming a must in today’s economy. Because you can be laid off at a moments notice it’s important that when looking for a real home based business that you consider a business that shows you a way to earn residual income.Consider This
If a real estate agent stops selling houses the money stops coming in.
If a doctor stops seeing patients the money stops coming in
If an accountant stops doing tax returns he’s out of business
If an auto mechanic stops repairing cars he no longer makes an income
Three Types of IncomeThere are basically 3 types of income to consider if you are looking for a business you can do from home.1-Up Front Income-This is where you perform a service, or make a sale and you get paid 1 time.2- Over Ride- An over ride occurs when for example you as a sales manager get paid on the sales your sales people make.3- Residual Income-This type of income occurs when you make a sale and you get paid over and over sometimes for life. An example would be an insurance agent sells a policy. The agent continues to get paid month after month, year after year.  After selling policies for a number of years the agent could literally retire due to the recurring income he receives from all the policies he’s sold. If the agent gets sick, injured, etc he still gets paid.The Most Important Way To EarnA real home based business for professionals should include all 3 ways to earn income. A way to earn residual income is the most important as this allows you to retire at some point a still keep getting paid. This is one of the reasons many professional people are turning to professional network marketing.It’s also important that when looking for a real home based business that you find a company that’s been around for at least 20 years and that has people that have blazed the path before you. If you are serious in your search these are some of the things to consider before jumping into the home based business arena.

What is a Home Based Business?

For many, a home based internet business is their salvation. With recent global economic hardship, lots of mums and dads are turning their eyes to the internet to save them from financial ruin. And little wonder with all those fairy tale stories of millionaires in the making that get about.But to stand any chance of success with an internet home based business, it is vital you understand not only the benefits and advantages but also the disadvantages in order to decide if this really is an option for your.So let’s take a look, shall we?Benefits of a home based business
Low set up costs compared to a bricks and mortar business
There is only a small financial risk
No limit to your income
No travel or commute expense
You can work in your pyjamas
Flexible work hours are great
Need I say it – no boss to answer to
Great for stay at home mums
No discrimination between sexes or age, education or background
You can start slowly and build up over time
Disadvantages of a home based business
You may feel isolated
You might feel like you never leave home
You might have trouble achieving balance in your home life/work life
You could work very long hours
You might not get paid regularly
You may be constantly interrupted by friends and family
You may struggle with motivation from time to time
There can be a loss of privacy for you and your family
Your family might not take your work seriously at first
It will be difficult to take holidays initially
There are a number of options to consider when choosing your model of home based business.Here are just a few:
Buy an existing business
Buy into a franchise
Join a network marketing company
Learn affiliate marketing
Create an eBay store
When trying to decide what you will sell, you need to do some serious brainstorming.The key question to ask yourself is: will my idea work?First you need to establish that there is indeed demand for your idea.Success questions to ask:
Who will be my target market?
How big is my target market?
Who are my competitors?
What makes my business different or indeed better than others?
How do I know visitors will buy off me?
How much time do I have available to put into the business?
Now you k now where you are headed, it is important to be sure you are suited to your venture. To get a better idea, take a serious look at yourself and do this keen inventory:Do I have these success traits:
Able to think laterally
Have positive mental attitude
Have courage and confidence
Prepared to take some risk
Self motivated
Have good judgement of opportunities and people
Show leadership qualities
Have good health
Training in small business
Able to make decisions
Self disciplined
Good organisational abilities
Once you have worked your way through these questions you might be ready to take a first step. Be warned though, when you find your favoured home based business, there will be times you feel overwhelmed. This is perfectly normal, so don’t be tempted to give up.Remember, a home based business might seem like an easy option but it is not necessarily so. The going always gets tough before success comes knocking. Just follow the road you choose, persist and in time you will arrive at your destination.

Ideas For A Home Based Business – The Fear Factor – Part 1 of 4

If you are like most people, you have a 9-to-5 job working for some company with a lot of stress and pressure to complete your projects. Perhaps you’ve found that even though you complete your work to everyone’s satisfaction, you still don’t get the raise or promotion you deserve. Maybe you’ve been getting more work dumped on you since others were let go due to the economy and find yourself drowning in work. Are you working overtime or have to continue working once you get home? Are you beginning to feel like your life is owned by, and revolves around your job? Are you afraid of losing your job? If so, you are not alone. This is why so many individuals are researching ideas for a home based business. Unfortunately, that is as far as most people get. Lets look at some reasons why.The advantages of having your own home based business seem compelling – you’re the boss and can’t be fired by anyone else. You can set the hours you want to work that better fit your lifestyle. More time with your family. You control the growth of the business. The list goes on and on. Why then, do most people give up on their ideas for a home based business before even trying? It is because of fear.Fear is a good thing. It kept us alive back in the days when the struggle to survive involved decisions that were truly life or death. But these days in our modern society our fears are mostly tought to us from the media and our upbringing. We tend to imagine the worst before taking the first step, and therefore not taking any steps at all. When it comes to starting a home based business, we fear it will fail for one reason or another, or someone close to us will criticize the idea, or that we will be scammed somehow. These are valid fears, but should these fearsome thoughts always stop us cold in our tracks?I’m not saying don’t have fears. Instead, allow the fear to be there, just don’t let it stop you from taking the next step. If you are reading this, you have already taken the first step of researching ideas for a home based business. That’s great! You are probably finding a lot of different ideas on the web. Many of the ideas include selling a product or offering a service out of your home such as tutoring or selling art. Other ideas utilize the internet where all the work is done online. As you look through the lists of ideas, ask yourself which ones feel like they would be something you would enjoy. You should note those down on some paper so you can compare and contrast the ideas as you continue your research. A word of caution, if you are looking for an idea that jumps out at you as the absolute, hands down, this is it business, you most likely will not find it. Why? Because every home based business has its pros and cons and our minds will typically race through the cons until fear is felt, thus tempering our excitement for the idea. Don’t fight the fear, let it be there, just write the idea down if it’s one you think you could enjoy.Another common reaction to be aware of when looking at ideas for a home based business is when you see an idea that you don’t understand or are not familiar with, and therefore deciding it isn’t for you. If you see home business ideas and you do not understand what they involve, write it down and research it. You may find something that is a perfect fit for you, now that you understand what it’s all about. As someone interested in art, I found I had no idea what ACEO meant when looking at the art on sites like etsy.com. I assumed it was some type of acrylic paint and thus ignored the category entirely. I was completely wrong. I’ll leave it to you to look up ACEO if you don’t know what it means.

3 Critical Factors To Look For In A Home Base Business Opportunity

Seeing that the world economy appears to be struggling to get back to normal, every one, including those who have lost their jobs or even those who may have lost their entire life savings, are all looking to find some way to develop some other means of creating an income. Consequently there is a massive rush as everyone continues to look for the right home base business opportunity.But on a very serious note of caution, does the uninitiated masses really know what to look for in choosing the right home base business opportunity? For those who are truly serious and would sincerely desire to change their financial position from desperation to great aspiration, you must be very vigilant in understanding that like many other industries, you just cannot let your sponsor or mentor in any home base business opportunity realize how desperate you might really be, to develop an extra or a primary income.Where as there are a variety of important factors which must be in place before you choose this new opportunity, here is a list of the main factors which will always determine your success and the longevity of your home base business career.What You Need To Look For In A Home Base Business Opportunity.1: You must fine a home base business opportunity which is being offered by the right company.As you continue your relentlessly search for your opportunity, you will ultimately find lots of company offering a host of product selections, but it is critical that you find an ethical company which has not been in the industry for decades.Some people will say such a company will be much more stable, and that might be quite true, but also to your disadvantage is the fact that this can very likely be a company which has made so many blunders over the years that every Tom, Dick and Henrietta have failed at, and may all have pretty bad memories about that company. And I am sure you know how bad news gets around faster than good news. The point here is that you will have a very difficult time finding people to seriously look at your home base business opportunity.You really want to find a company which has not been around for that many years.2: You must find a home base business opportunity being offered with quality products which are not “Me Too” products.If you have taken a good look at the diversity of products which are being offered by most companies you will agree most of them are “Me Too” products. What I mean is that these products are all doing exactly the same things.When you look in the area of supplements, you will find every company offering a slight diversity of the same product. When you look at home care products, you certainly will see exactly the some process. What if you can find a completely new evolution of healing products which are all formulated to synergistically work with the complete natural healing process of the body as one unit, as opposed to the sad situation of trying to heal every cell, organ, and system of the body?What if you can find a company which is ethical enough to explain to the masses that once the body is in a state of homeostasis, the body will always do the natural job it is created to do which is to constant heal itself every second of the day. Could something like this cause you to join an army of the new self care evolution?3: The final critical factor you must be aware off is that you get started with a company or a leader who really understands the dynamics of how to build a long term exploding residual income by using a simple system of duplication which every one can easily replicate. A system which is not just for the internet guru, but for everyone who really desires to enhance their financial position.As a veteran in this home base business industry, I have seen the good, the bad and the ugly, and I know that to become successful in any home base business opportunity, you must do your due diligence and find the right company with in demand products which are unique, effective and well priced.

Best 10 Small Business Ideas Of 2020

Do you feel bored with your regular nine to five job and looking for starting a business? Are you looking for starting an extra earning source? Or, do you want to start a small business in full swing eyeing to make it your career?The idea of starting a business can be exciting and all it requires is time, effort, money, and a fresh idea. We can definitely help you with the ‘idea’ part.Let’s get started with 10 small business ideas of 2020 that can get you started.Cooking/Baking: This doesn’t need a huge capital. If you already have the skills, you are good to go. Make a slow start. If necessary, work from home. Select your preferred arena such as Braising, Stewing, Steaming, Baking, Roasting, Grilling, etc. Start with 2/3 items and start delivering. Everyone likes a nicely cooked home meal. Advertise within your known area and let your cooking do the rest.Tutoring: This is probably the most known source of earning, though most of us don’t try to take this on another level. Tutoring is not limited to teaching academics. It can be a huge business opportunity with these extra steps:- Know how to play a musical instrument? Teach your dexterity.- Can make small yet handy crafts? Teach your techniques.- Good at editing or designing? Teach your skills.- Able to sing, dance, art, cook, or anything as such? Teach your expertise.- Confident in applying your makeup just right? People always asking, how are your attire always so perfect? Teach your mastery.- Know how to click the perfect picture? Teach your knowledge.To summarize, find out what you know because there is a huge number of potential students out there searching for your service. Remember, learning will never go out of fashion.Babysitting: Bet you have spent a fair share of time taking care of your baby nephew and nieces. Now is the time to use that experience. Watch the kids when their working parents are too busy to do so. Make your family and friends your brand ambassador in this case.Interior Designer: Have a fascination with a beautifully organized home? Then start learning of course! Online courses about the basic interior are not very hard to find. After gathering enough knowledge start doing small projects, take pictures, make a portfolio, and open a website or online page or hand out flyers if needed. The want of virtual assistants is huge in rate.Break the norm saying, Interior Designers are only for the riches. Provide your service in all possible ranges and see your business booming. Due to growing demand, you may count interior design as one of the best among 10 small business ideas of 2020.Customized Jewelry: Have a thing for jewelry? In that case, this business is for you. The opportunity in this field is huge with its growth projected at 5-6% per year. From golden to wooden, no jewelry will ever be old-fashioned. This is perfect for a small capital side business. Due to the rising popularity of customized jewelry among fashioned seeker women, this can be considered as one of the best among 10 small business ideas of 2020.Develop an app: There are apps for anything and everything these days. From finding all your essential files to finding a good night’s sleep, there is an app to the rescue. Coding skills or no coding skills, learning how to develop an app will only bring you potential business opportunities. Start with some marketing research and you are off to a great start.Translator: Now will be the time to put your language skills in use.Employment of translators is projected to grow 19 percent from 2018 to 2028 which is much faster than the average for all occupations. If you know more than one 2nd languages then you’re in luck and in great demand.Create your channel: A YouTube channel can earn around $3 to $5 per 1000 views. A successful YouTuber can earn millions by a single video. If you are up for it, this can be your only earning source as well. Hence this idea can be considered as demanding ideas among 10 small business ideas of 2020.If you have a passion for travel, standup comedy, music, dance, animation, teaching, creating, or anything of such sort, start sharing with the world.Learn about YouTube guidelines and know your tools. A decent location and a good camera can increase your chances of income.Ghostwriting: All ‘BoJack Horseman’ fans know about Diane and how she was a successful ghostwriter. She was never out of work and nor will you be if you have a passion for writing. A ghostwriter may not get credit for their work but it’s a lot of money.Many started as a normal ghostwriter and ended up having an influential career out of it. Averagely, an adept ghostwriter can net $20,000 per project and over $50,000 if the client is a celebrity. Beginners on average earn around $5,000 depending on the topic and length of any text.Freelance Content Writing: Content writing is undoubtedly one of the best among 10 small business ideas of 2020. In this age of digital marketing, content writers have their fair share of demands. If you have skill in formulating a well-structured story or article, this startup is for you.One can write content for a variety of things like Web content, Blogging, Social media, ad and sales copy, Expert, or industry writing, Journalistic/news writing, Creative writing, etc. An experienced content writer can earn up to $1000 to $5000 a month.If you already made up your mind to start a small business, that’s great! Don’t make a delay, pick up one from 10 small business ideas of 2020 above, and get prepared for a jump in the big space of business!

Home Based Business System – 4 Steps To Becoming A Top 2% Producer

If you’re looking for a home based business system to help you build a staggering organization in record time, I want you to pay very close attention to this article. In it, I will outline a four step process and home based business system that will get you to the top of your company’s leader board in record time.

Traditionally, most people get caught up in their company’s home based business system to market their business. They pass out product samples, brochures and DVDs. They plaster their body, their car and their home with company logo-covered stuff, making themselves virtual walking billboards for their company – and for someone who is going to try and sell something to everyone they meet.

While this kind of home based business system is one way to build a business, it is a painfully slow way to do it. I am going to open you up to a mental paradigm shift so that you can start to see your business in a different light. In order to do that, there are four critical steps you need to understand.

Home Based Business System Step #1: Understand that building a business is really just a big game of numbers. Having said that, it is your job as a marketer to understand certain things so that you can stack the odds of success in your favor. Passing out CDs etc is not putting yourself in a position to stack the odds in your favor.

A much better home based business system is to use the Internet as a platform to reach the masses. That starts with a squeeze page designed to do one thing: brand and position yourself to generate the lead. All you’re looking to do is to get the lead, so that you can enter the relationship building process with them (which I’ll outline in a minute).

Home Based Business System Step #2: The next step in this home based business system is to drive targeted traffic to your squeeze page. There are a lot of proven strategies and methods to make this happen. One simple and proven way – one which you can also do without breaking the bank – is article marketing. You’re seeing this in action right now as you’re reading this.

This is nothing more than creating articles optimized under specific keyword phrases, so that when someone types in that keyword phrase they will hopefully find your article in the top 4-5 non-sponsored listings of page 1 of the search results. This is known as natural or organic traffic. Although there are several different ways to drive traffic, the most important thing to keep in mind is “k.i.s.s.” (keep it simple stupid). Start with one form of traffic, master it, then add another.

Home Based Business System Step #3: At this point in the process, you need to build and create sound relationships with your prospect. The better the relationship, the more likely it is that they’ll buy your products and services.

One solid way within this home based business system to create solid relationships with your prospects, is to share meaningful content with them free of charge and with no expectations. Your first 4-5 emails should consist of nothing more than information to help your prospects solve the problem that got them to find you and join your list in the first place.

For example, if you have a list of people who are looking to eliminate acne problems, then those emails should be geared to talking about things people can do in their daily regimen to help their acne issue, which ointments to uses and where to find them, which kind of foods keep your skin clear, and what kind of soaps can reduce/prevent acne. You get the idea. Just remember that you need to provide content that is relevant and make it free of charge.

Home Based Business System Step #4: This step in this system is all about how to start making money from your list. So at this point – starting around email 5 or 6 to your list — you can start to do offers. Maybe you will invite them to a conference call or webinar. Maybe you will offer downloadable products that you’re selling online or offline. Maybe you will invite them to call you for a 25 minute “needs assessment” where you can introduce your products and services to them.

You get the idea here. What is critical to note about this, though, is that if any of the first three steps aren’t done properly, then this whole home based business system will collapse like a ton of bricks.

The Advantages of Advertisements

Would you believe that there are business owners that think that advertising doesn’t really work? In fact, there are even some that feel like advertising is a waste of money. There are many reasons why some hold that opinion. For many people, it could be that they are simply bombarded with advertisements every day and they believe that the public has become immune to advertisements.

So, are there really any advantages of advertisements? Is it worth your time and money to advertise your business?

Let’s consider a few advantages that advertising can offer your business. There are especially advantages in advertisements for those people that do not have much money to spend, and are just looking for ways to get their product noticed.

Let us begin, though, but simply stating the advantages of advertisements.

Your product will get noticed.
You can create the need for your product.
You can give the advantages of your product over other products in the same field.
Lets take these three advantages and go over them one by one.

The first advantage of an advertisement is that your product will get noticed. Even if people claim they do not pay attention to advertisements that does not mean they don’t notice good ads. The more your product is advertised the more recognition you will receive. And if your ad is funny, or clever, or gives something to the customer that they need, then your advertisement will resonate even more with them.

The second advantage of advertisements is you are able to create a need for you product. Many times, people now days don’t know what they need. Before the cellular phone came out, no one knew that in time that would not be able to live without their cell phone. Phone companies created that need. No matter your product, through advertising you are able to create a need for you customers.

The final advantage of advertisements is it gives you an edge over your competition. You don’t need to rip your competition when advertising, but rather give examples of what makes your product stand out. Let your customers know that your product is the only one that does something.

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.

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.

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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