• Important auction web sites- For new Internet entrepreneur the auction business can start for web site like www.ebay.com, www.ebay.in, www.amazon.com, www.yahoo.com.
• Working Principles – In an online auction site, sellers advertise their products or services and buyers bid on them. The sellers realize a higher price and the buyers pay lower price.
• Products/items sell online- Any thing that cannot be sold offline can be sold online through auction. All item like new cars, old shoes, broken furniture, new computers etc.
• Requirements for start up – The business requirement a small ad on a auction website mainly in big auction websites. Auction websites will take care of the traffic.
• Basic knowledge of online auction process – The reputed auction websites gives the required knowledge about basic auction procedures. The help pages in websites gives a good knowledge of auction and their procedures.
• Online Ad procedures – Most websites do not ask for money for registration. In online ventures, do not pay upfront fees to anyone who promises income opportunities. It is possible to find out many online opportunities without paying any fees.
• Other Essential Requirements-An auction business is like any other online business. So, make clear decision about how you will receive the money, how you will deliver the goods and how you will handle your customer’s complaints. Study other successful seller’s strategies and wherever possible modify them and use the ideas in your business.
• Another Procedure for Auction - If one find a great product at a bargain price, you can bid for it and buy it. You can ask the seller to hold the delivery. Then, you can resell the product either on the same site or some other site and ask the original seller to ship he product to your buyer.

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