Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

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.

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.