| |
| |
|
Net Auctions and Auction Information |
|
|
|
The 3 Minute Auction and Minute Auction Explained
Am I the only person who doesn't know what a 3 minute auction is? Looking for fresh content for my site, I discover that "minute auction," or even a 5, 10 and 30 minute auction is a popular item. Some auction sites may refer to a minute auction as a "Live Bid." The "minute auction" or "3 minute auction" actually comes the closest to duplicating the excitement (and anxiety) of a real auction. No, it is not the same as an Ebay minute auction. I will give the example of Bidz.com. Bidz.com uses Flash technology to constantly update in real-time auction bids right before your very eyes! The price goes up, up, up and the time clicks away ... down, down, down!. Add flashing green highlights for added new bids and red flashing for the ominous approaching 0 minute and to say the least, it is quite thrilling. On the Bidz home page, there is a link that says 3-minute auctions. This is a separate category all by itself. If you click that link you are taken to the 3 minute auctions, usually consisting of jewelry. (Note: See end of article for "The 3 minute auction - too good to be true?") A word of caution: It takes a little finesse to bid at these fast-paced auctions - and I mean FAST! You must be EXTREMELY CAREFUL when bidding. The highest bid I came across on my visit was for $1500. My advice would be to practice on the dollar starting bids. Bids quickly escalate to $15 and $30. In the words of BidZ: "If you are bidding on items in the 3 Minute Auctions category, you will not be notified if you are outbid. These auctions move very quickly, so you have to monitor your winning bids very carefully." Back on the 3 minute auction page of BidZ, what do you see? >From left to right: the product picture, the item number, title, price, bids, and time left. The "bids" and the "time left" are where the auction action is at. But just as its nearing 0 minutes left, it jumps up to more time left - what gives? According to Bidz.com: "If the bid is placed during the last minute of an auction, the auction will be automatically extended for an additional 1 minute from the time of the latest bid. The auction will close once all bidding has stopped for a period of 1 minute." OK - I decide I am going to get in on this action. Registering is free (username must be a combo of numbers and letters). I have to click on the picture to go to the listing to actually bid according to Bidz.com directions below: 1) Simply use the "plus" and "minus" graphic keys to select the amount you would like to bid. The amount of the next bid is automatically one dollar more than the current bid. If you only want to place a one dollar bid, you can just click the Bid button without any adjustments. 2) Click the bid graphic button to register your bid. PROBLEM: I click the Bid! button and then find out I have to register my credit card in order to bid - but they didn't tell me that when I was registering (even though I quite expected it). Another problem I encounter is a sluggish modem. By the time I reach the listing page and the picture and bid button loads, the auction can be over (sigh...). Its not hard to become giddy over the amazing deals of a 3 minute auction...too good to be true? 3 minute auctions "typically offer expensive items, such as Cartier watches, Beanie Babies, computers, and cars at prices that are low enough to dull the scam alarm in most people." This was taken from an auction fraud article. The same article reports that the Federal Trade Commission has identified a scam email that includes "Live 3 minute auctions" in the subject line. See the details of the 3 minute auction scam at www.chiff.com/a/fSCAMauc.htm For a list of minute-auction websites, refer to: The 3 minute auction list http://shmyl.com/dpzison My final words: The 3 minute auction and minute auction are the epitome of auction entertainment. So pop some popcorn, invite some friends over, and have yourself some Friday night auction fun! About The Author Renee Matt maintains AuctionTongue.com, a review site of auction tool, free auction templates, auction software, auction sniper and image hosting services. AT focuses on auction websites outside of Ebay. Sign up for their FREE Auction Freebies newsletter: http://www.auctiontongue.com/; renee@auctiontongue.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
How to Sell Your Crafts on eBay Artists, craftspeople and photographers are successfully selling their wares everyday on the online auction site, eBay. According to a recent analysis of eBay sales, a crafts-related item is sold every nine seconds, a scrapbook item is sold every minute, and 40 cross-stitch items sell in an hour on eBay. eBays Latest Fee Increases--Is this the beginning of the end? On January 13, eBay sellers received an unwelcome announcement from eBay. Fees were going up. Game Theory, Nobel Prize, & Auctions - Auction Primer Series - Part 1 William Vickrey, highly regarded as the founder of auction theory, was an economics professor at Columbia University when he published two papers outlining his views on auctions:"Counterspeculation, Auctions, and Competitive Sealed Tenders", 1961, Journal of Finance"Auction and Bidding Games", 1962, Recent Advances in Game TheoryIn 1996 he received a Nobel Prize "for fundamental contributions to the economic theory of incentives under asymmetric information." It's important to understand that asymmetric information is an essential component of auctions, where potential buyers have varying levels of knowledge about the value of the item. How to Locate Drop Shippers for Your Success Like the human heart, drop shippers can keep the blood pumping in an internet business. Often, they can be the key to success for online retail businesses who do not wish to stock actual inventory. Auction Sales - Keeping Customers You Worked So Hard To Get! If you've studied business concepts you know that finding a customer can be the most expensive part of the sales process. Once you've got a customer why not maximize the money you've already invested in the effort?This time honored business concept certainly falls under the category of going the extra mile for a customer. So, Can You Really Sell EBooks On EBay And Make Cold Hard Cash? Selling eBooks on eBay, and making any worthwhile profit from doing so, is becoming more and more difficult.Gone are the days when you could sell someone else's books on eBay, and it's becoming considerably more difficult to sell ebooks that you might have written yourself or via Public Domain Publications. E-bay Auctions: Sell Better, Spend Less Tip #1 Just about everyone alive today has heard of E Bay.com, but most people don't realize the sheer size and complexity of this Auction beast. eBay Gold Internet auctions are relatively new having been around since the mid 1990's. There are several Internet auctions including Yahoo Auctions and UBid. Attract eBay Buyers Like Crazy! As an ebay(TM) seller it happens very often (too often) that listings close without any bids. Did this happen to you? Many sellers are frustrated and quit their eBay(TM) business. Start Selling On eBay - Getting Started On The Right Foot You've started your own eBay business and, even though it's part time right now, you know it's going to become a huge success. You are able to see the day when you can set your own hours, set your own dress code and call your own shots. Profit through Other Peoples eBay Errors There are many issues that influence how an eBay auction ends. Timing, Description, Title, Photos, the list could go on and on. Online Auctions: How To Generate Fast Traffic From Online Auctions Have you ever participated in any online auctions?Yes, people are making piles of cash from online auctions.And you can take advantage of this new gold rush to generatea lot of traffic to your own website. Finding Antiques And Collectibles To Sell On eBay Many people who decide to make a living selling collectibles on eBay soon fail. I meet them in the line at the post office. How Professional Ebay Auction Templates Can Boost Your Ebay Sales Do you like to sell on eBay ? It's easy and fun, isn't it ? In fact, it's one of the easiest online business you can start almost overnight, without any major investments. That's the best thing about it. Real Estate Auction Action - Buying A Home At Auction Due in part to the popularity of the U. S. Why Its a BAD Idea To Promote Hot Selling Products on eBay Do a quick search on Google, Yahoo, or your favorite auction resource site, and you'll quickly discover there are several software programs targeted to vendors who want to promote hot selling products on eBay.The infatuation with hot selling products exists because sellers believe if you target items that have a robust sales pattern, you'll have a better chance at profiting on eBay. Drop Shipping Increases Profits You would like to increase your income by selling other peoples` products but you just don`t have the money to stock inventory.On the other hand, perhaps you have lots of your ownproduct and would like to increase your sales, but youdon`t have a lot of money for advertising. Snipe Your Way to Auction Success Bidding for a bargain is all part of the exciting eBay experience. But what can really disappoint is when you're all set to win that fantastic, gold plated gizmo and someone else just beats your bid in the very last minute. Effective Auction Listings - How To Create Them Once you've created the best possible title for your item, you will move on to writing your auction description. Here, you have more space to give a detailed description of the item you are selling in the body of your auction. Your eBay Business - 8 Ways To Insure Its Success I don't know if you've ever noticed, but it seems like every week or two we read about another Powerseller going out of business.If you want your auction business to be a long-term success, then it's important that you plan now for it's continued growth.
|
| home | site map |
| © 2006 |
