Month: July 2018

The popularity of online auctions has grown in step with online shopping in general—after all, what could be more convenient than browsing for what you want from the comfort of your own home? In recent years, a new dynamic segment of the online auction market has caught the attention of savvy online shoppers: the 90-second auction. What is it about these fast-paced sites that has earned a devoted following?

Speed: Imagine an auction boiled down to those last exciting seconds when all the action really happens. Every item on a 90-second auction site is just like that. You have to move fast to stay on top. Placing a new high bid extends the auction for a few more seconds, but once that clock ticks down, the item is sold! Unlike traditional timed online auction sites where you have to follow an item for days to have a chance to win, 90-second sites give you instant victory. Didn’t get an item you wanted? Don’t worry—there’ll be a chance on something else instantly.

Convenience: Some of the most popular 90-second-auction sites can be accessed through mobile apps, which means you can participate from wherever you are. You’ll never miss out on your opportunity to bid when you can literally put the auction in your pocket and take it with you.

Discovery: The brisk pace of 90-second auctions means that there is constantly something new coming up for bid. Whether you’re looking for jewelry, collectibles, art, or more, the inventory on a 90-second auction site is always changing, offering you something fresh to consider on a daily basis. It’s fun just to dip in to see what’s on offer, and you never know—you may unexpectedly find that have-to-have item when you least expect it.

Bargains!: You won’t believe the deals you can get at a 90-second auction. With prices starting at just $1 and a lightning-fast bidding window, items up for bid routinely go at just a fraction of their retail price. Unlike some penny auction sites that charge a fee per bid, 90-second auction sites are free to bid on—you only pay if you win. This makes these auction sites the perfect place to hunt for unbelievable bargains and snap them up. Although you may pay shipping costs or other fees (each site varies), you still usually end up with a price well below retail on all kinds of items.

Technology isn’t just making the auction experience more accessible for the modern age, it is also bringing new twists to the traditional ways we bid and win. If you’re the kind of buyer who loves the adrenaline rush of fast-paced bidding and who can’t resist the opportunity to get a steal of a deal, 90-second-auctions are worth checking out.

Online auctions give people the opportunity to bid on items they might not have had access to before, due to the limits of geography or timing. They have become a popular way for aficionados to find all kinds of prized items to enlarge their collections, from artwork and fine jewelry to sports memorabilia and designer watches. Successful bidders know that understanding the right way to go about bidding can improve your chances of walking away with the winning bid. Here’s some advice for increasing your chances of success:

First, do your research. Jumping into an auction blindly may result in you underbidding and losing out or overbidding and regretting it later. Check out the items you’re interested in, compare them to similar items elsewhere to get a sense of their market value, and ask any questions you have before you place a bid. Know if the item you’re interested in is rare or unique, which could make it worth bidding more for.

Then set your budget. Decide how much you are willing to spend overall or on any particular item. This will give you a framework for your bidding so you can proceed without second-guessing yourself. Auctions sometimes come down to the timing of your bid, so hesitation can spell the difference between losing and winning.

Understand that certain tactics work best in different situations. One of the most well-known bidding techniques is called “sniping.” This is the strategy of waiting until the last possible second to place your bid to try to win an auction. In a timed online auction with a hard end time, this can effectively shut out other interested bidders. In a live auction, whether in person or online, where bidding goes as long anyone is still placing bids, sniping can still have benefits, however. Active bidding can drive up the price of a hotly contested item, so sitting out until the auction is almost finished may cool off the bidding and ultimately result in a lower end price.

Another popular bidding technique is known as “squatting.” This is where you bid early on your chosen item and counter every subsequent bid in order to stake your claim. Obvious interest can have the effect of driving off casual bidders who are more interested in getting a bargain than in obtaining the particular item in question. To make this technique more effective, you should bid more than the minimum each time, to show other bidders that you are serious about winning. Be careful, however—in the case of one-of-a-kind items, squatting can be less effective because there is no alternative for other bidders to seek out.

Ultimately, your personality and goals will define your successful bidding style. At AuctionKing.com, our live online auction gives our customers thrilling opportunities to win high-end collectibles, fine jewelry, designer handbags, and more at below-market prices every day. We triple-check the authenticity of every item on our site so you can bid with confidence. Register for a free online account today to get started.

Many nonprofits hold charity auctions to raise funds for their mission. It’s no wonder that they’re popular—auctions are exciting interactive events that give your donors an excuse to spend money in a good cause. They also tend to be lucrative, which is why organizations hold them despite the challenging amount of planning they can sometimes require, both in obtaining items to auction off and in running the event itself. However, what kind of auction you choose to hold can make a huge difference in how much revenue you generate for your nonprofit. Here are the three primary types of auction and their advantages:

Live auction: This is the classic auction scenario—an auctioneer shouting out the current bid while audience members compete for a coveted lot. When you want your auction to be the centerpiece of an event like a gala, and you have high-end items like tropical vacations to auction off, a live auction is a good bet to get the maximum value for the items you have on offer. With a live auctioneer driving the excitement, bidders are more likely to bid at or above an item’s value in the name of supporting your cause.

Silent auction: A silent auction is a great idea when you don’t want the auction to occupy center stage at your event. Bidding is open for a set period of time, with bidders writing their name down on a piece of paper with their bid for each item. Donors who aren’t comfortable getting into the thick of live bidding tend to prefer this format, and it’s ideal when you’d like something quieter that guests can participate in at their discretion. It’s easy to browse a silent auction during a cocktail hour, for example. This format is also good for raising interest in items that benefit from a closer look.

Online auction: Online auctions are the best option if you’d like to hold an auction without having to plan a huge event. If your supporters are spread out all over the country or the globe, conducting an auction online can be a way of bringing them together virtually to benefit your cause. In addition, you don’t have to charge admission to cover the overhead for an event, and your donors don’t have to buy fancy clothes or pay a babysitter to be able to attend, which gives them more money to spend at your auction.

Auction King can help you combine the best aspects of live and online auctions to net the greatest benefit for your organization. We supply expert auctioneers to run your live online event and the high-end items necessary to attract the most generous bids—you just direct your members to the dedicated URL we set up so they can participate. Our expertise and secure live-bidding platform guarantee a superior experience for your supporters. To find out more about how we can support your mission with a live online charity auction, contact us today.