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How to Create Your Own Auction for Free


By Prev Info - February 07, 2022

Auctions are a method of determining the worth of an item by setting it equal to the highest amount that anybody attending the auction is willing to pay for it. In an auction, an item is put up for sale, and people that are interested in buying it bid an amount that they would be willing to pay for the object. The auction stops when nobody is willing to bid more money, at which point the object is sold to the highest bidder for the price she agreed to pay. Auctioning skyrocketed upon the introduction of eBay, an online service that hosts auctions and handles payment transactions.


Instructions


1 - Announce your intention to auction an item online. Include the time period of the auction, the item and the starting price. You can announce this on a blog or online social network, such as Facebook or Twitter. Also include an email address or other contact information where people can tell you their bids.

   

2 - Create a list of all the bids. Every time a bid is made that is higher than the others, post the amount of the highest bid online.

     

3 - Arrange to sell the the item to the highest bidder at the price he bid at the end of the time period of the auction.


4 - Print out fliers announcing the location your auction will be at and the time. Include the types of items that you will be selling. Most live auctions are made for multiple items, in which case a full list of items should be made available but not advertised.


5 - Hire an auctioneer. Her job is to announce the highest bids and the end of the bidding time period for specified items.


6 - End the bidding on a single item after a time period of 10 seconds elapses in which nobody places any new bids on it.

    

7 - Repeat the bidding process for each item until all your items are sold.


8 - Handle all sales on the spot. Common payment methods at auctions are checks and cash. Some auctioneers may also be equipped to handle credit card transactions.






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