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
|
|
|
Ebay - Tapping Into The Japanese Collector Market
If you owned a skateboard shop in your local mall would you put a big sign in the window saying "No Baggy Pants Allowed"? Of course not. If you did you would be eliminating 50% or more of your most avid potential customers.If you sell vintage Americana and don't allow Japanese bidders you might just as well place a "No Baggy Pants Allowed" sign in your auction ads.Vintage Americana is hot in Japan with thousands of hungry collectors. These collectors have several things in common.
- They have money to spend on their interests
- They consistently pay high prices for the items they collect
- They are highly competitive amongst themselves. This means a collector will ofte...(related: Auctions)
7 Great Reasons Why You Should Start An Ebay Business Today
EBay is a great part or full time business. An Ebay Business can be used as a way to promote your Online Home Based Business. An Ebay Business is a great resource for your Brick and Mortar Store Front. Here are 7 ways anyone can benefit from owning and Operating an Ebay Business1 - Promote Other BusinessMany people with online or offline Businesses sell on Ebay. Ebay is one of the most Popular web pages on the Internet. By having frequent EBay auctions you can build traffic to your online or offline brick and Mortar Store.2 - Get Family InvolvedWhat a great way to get your spouse and children involved in your business. Is there a great Copy writer or web Design Guru in your family put them to work. Teach your child...(related: Auctions)
How I Was Nearly Conned On Ebay
I am not sure how many people have had bad experiences on Ebay, I hope not too many. I was having a great time on there until some man tried to defraud me out of £170.I had been buying and selling on Ebay for a number of months without any problems at all. If I ever bought anything that cost over £100, I would offer to meet the seller somewhere, normally just off the motorway and this was working very well. I m...(related: Auctions)
How To Survive The Jungles Of Ebay Selling
Come with me, we are going to take a safari into the jungles of eBay selling, sometimes wrought with danger but most often rewarded with treasure.Beware of non-paying bidders, beware of auction snipers waiting to try and steal your eBay auction at a very low bid, but welcome the loot you will receive selling outdated relics in your house for a small kings ransom.Sell the heirlooms that even Salvation Army drop off center would turn their nose up at.Upon our journey we may encounter savvy eBay buyers lurking in the Internet shadows and waiting to pounce like a ravenous lion on novice eBay sellers.Slashing and cutting your path thr...(related: Auctions)
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.There are thousands of online auctions on the internet.People love them because they can usually find greatbargains.If you have an online business, you can usethem to increase traffic to your web site.You could create an electronic book or report thatrelates to y...(related: Auctions)
Dropship Your Way To Ebusiness Success
Q: I would like to start my own eBay business, but I really don't want to invest in a ton of inventory until I can get a better handle on what might or might not sell. I read another column about dropshipping, but I'm still a little fuzzy on how the whole process works. Do you think using dropshipping is a good way to start an eBay business and if so, how do I get started? -- Candace M.A: Dropshipping is a topic that I first addressed in my column way back in April, 2003, which is decades ago in Internet years. But with the continuing growth of eBay and it's positioning of itsel...(related: Auctions)
Everything You Need To Know About Ebay Money Making Opportunities
Ebay money making opportunities are simply the best thing to come along since the wheel. Seriously, everybody from grandmothers to middle school kids are cashing in on what's been called the $14 billion ebay pie.And you want your slice, right? Well, all you need to get going on your ebay money making opportunities are a computer and some items to sell on ebay. We know you have a computer or you wouldn't be here.For your first items to sell on ebay, look in your closets. On your bookshelves. In your garage. Even in the trunk of your car! They are all places to look for items to make money on ebay.Because remember that old saying "One man's trash is another man's treasure"? Ebay proves it's true, so ...(related: Auctions)
Smart Ways Your Business Can Benefit From Online Auctions
It seems as if everyone is talking about online auctions. And why not. There are thousands of online auctions on the internet with more popping up everyday. People love them because they can usually find great bargains. Businesses are now also seeing the benefits of online auctions. Below are five ways your business can benefit from online auctions.
1. Get Rid Of Excess Inventory
You could sell your excess or discontinued products at an online auction. Your unsold inventory is doing you no good sitting around, collecting dust. It's an effectiv...(related: Auctions)
Do You Pay Taxes On Ebay Income?
Q: I read your last column about paying income tax on eBay sales if you are doing it as a business, but as someone who only sells on eBay occasionally I'm still confused if the IRS rules apply to me. Can you tell me more?-- Norman L.A: Last week's column on whether you were required to report income earned from eBay sales to the IRS sparked a number of additional questions and comments from eBay sellers who were hoping that I could somehow validate that their eBay activities were mere hobbies instead of actual businesses and therefore not susceptible to IRS taxation.Several folks argued that just because their little eBay hobby generated a little cash, that didn't make it a full blown business. It seems they consider the income from their little hobby to be f...(related: Auctions)
Ebay: What Should I Sell?
There is an art to picking profitable products. It's not just what you want to sell but rather what will sell. Unless you pick a product in demand in the marketplace, you will fail. A fundamental principle of the capitalist system is "supply and demand". It represents a delicate balancing act between "what people want" and how much of "it" is available.E...(related: Auctions)
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.There are thousands of online auctions on the internet.People love them because they can usually find greatbargains.If you have an online business, you can usethem to increase traffic to your web site.You could create an electronic book or report thatrelates to y...(related: Auctions)
Drop Shipping Your Way To Increased Profits
Drop shipping, for those who are unfamiliar with it, is a system whereby you promote the products of a particular manufacturer, take orders directly, and the manufacturer/source handles all the inventory and fulfillment functions for you.In a nutshell, here is the drop-ship system:>You generate and accept the order.>You take your profits out of the sale price.>...(related: Auctions)
Drop Shipping Secrets And Sources Revealed
Unfortunately for those just breaking into the wholesaling business, drop-shipping source information is jealously guarded. With a firm understanding of the service they offer, it isn't hard to see why. As opposed to the typical wholesale resource, drop-shippers offer a myriad of benefits to their buyers:? You have no excess merchandise to house between orders.? You're saved the hassle of calculating shipping, packaging orders, and standing in line at whichever postal service you may use.? Drop-shipping is a great resource for people who own and run web-sites out of their spare time.? Drop-shipping doesn't require you to make any out of pocket expenses.As you can see...(related: Auctions)
site-map - Copyright © 2007 | Contact Webmaster | All Rights Reserved | Free Articles and Information | Auctions