The Advantages of Online Education

Nowadays, people are aware of the advancing technology of this new generation. There are lots of new trends when it comes to styles, products and also in learning methods. Speaking of the new learning method, online education has been part of a student’s life. In the world of a student, they are accepting online education to achieve a big role in their academic career. This helps them in providing a lot of new ideas and trendy information about the changing world. The growing recognition of the online education serves as an instrument for student in their ways of learning. Learning institutions around the world are also offering online education that creates a huge break for them. That is why wide range of knowledge was taught to the student everyday.

Years ago, some people perceived online education as a complicated and time consuming way of learning. People had also doubts on the type of education being offered by online education. However, this period was inflicted with changes brought about by researchers and experts, and now the majority of learning institutions that offers online education are well established. Most of the world’s leading education institutions were accompanied with commenced online programs, which returns the validity of online education.

There are also factors that contributes to the growing recognition of online education. Most of the learning institutions are providing tutorial programs for all the students. This is being implemented to help students achieve great scores in their comprehensive and achievement exams. The exams are prepared for the students who will enter secondary and college degree.

For some countries, they find GMAT exam a difficult standardized test. But if you will know its strategies and techniques in finding solutions to its difficult problems, you’re on your way to your success. Just like in PSAT math, you will also be practicing on some test books in which you will have an overview of yourself on how will you be doing on the examination period.

You can also have online education program for GMAT tutoring. This is a type of review in an online approach wherein you could gain a wide range of knowledge in all specific subjects or area in a test. You could develop some strategies and techniques for you to have a target of high scores. Experienced tutors and brilliant professors will assist you in all your academic needs. They will guide you on how to do well in your weak subjects.

Most students find this new program great for them. As technology upgrades to its new trends, student follows for its respective benefits. Educating students online secures the most convenient way of learning styles. This can be accessed by students anytime and anywhere as long as they have a strong internet connection. This is basically designed not only for students as well as professionals who are also aiming to learn new things and wants to be aware of the changing technology. Your future will not depend on how unique your style of learning is, or online or classroom learning approach, what matters most is your strong determination and perseverance in achieving for all your goals and dreams. Aim high for you will have your better way in the future.

Creating Your Own Successful Home Based Business

Staring up a small business has truly never been easier. In fact, more and more people are doing so from their homes which often provide an incredible foundation of providing a steady and incredible stream of income if executed properly. As such, one truly must understand the foundations of creating a successful home based business in order to create a successful business venture that is also filled with an incredible longevity.

There are countless studies that exist which have proven running a business of any size and any kind truly takes a very special person. There are various characteristics of the most successful business owners that provide a foundation for incredible and immense success. These traits and habits are what people should seriously consider prior to starting their very own business.

One of the most important aspects of running a successful business is a high degree of enthusiasm. One should truly love what they and be enthusiastic about it in order to successfully put in the long hours often required to make them work. This often also creates a desire to keep moving through the difficult times.

Another incredibly important principle and step is the setting of goals. Too often, people become myopic in simply earning money and forget that goal setting is actually an incredibly important foundation of success. Setting and obtaining short and long term goals while help ensure the success and viability of any business venture.

Also, the correct and sound mindset is crucial as well. Running a successful home based business often requires a tremendous amount of discipline and dedication in order for it to be successful. Keeping this right mindset is crucial in order to remain long lasting and successful in regard to profit.

Time management is also crucial. In order to earn profit and remain competitive, one must be as efficient and effective as possible in running their business. This allows the opportunity for increased business and further profit potential in the long and short term goal setting process.

Finally, there is also a great deal of focus required when running a successful home based business. There will often be countless distractions and deterrents from reaching any goal or milestone set forth as well as foundational needs to remain in business. Throughout all of these distractions and deterrents, one must remain focused on the goals of success to ensure these distractions do not destroy any business efforts.

How to Select the Right Home Based Business

The selection of the right business is a subjective decision. What may sound like the right choice for one online entrepreneur may not be the right for another. The choice of an online business venture is based on the availability of skills, resources, revenue generating capacity of the online business, a personal desire to pursue the idea, and the legal validity and sustainability of the idea in the long term.Most online business propositions revolve around existing products and services. There is plenty of expertise and guidance material available to start a home based business regarding these products or services. In some cases, templates and checklists have been developed to make the process of setup very smooth. For online businesses and those intending to have an online presence, there are several hosting options catering to the specific needs of this segment.There is a significant difference between a purely online home based business and a home based business that has an online presence. The former offers its services and products only through the internet. The latter has a physical presence based at home but also uses the internet to boost its revenues. An online business makes sense when you do not have the space or resources to set up an office. Most of the online home based businesses find it more convenient to sell services rather than products, since they can avoid the tasks of stocking and shipping products. On the other hand, a home based business like that of a property agency, could have a website with details of properties. A physical presence is essential in this case, to show the customer around, but revenues are higher on account of the internet presence.Choosing an online business idea is also dependent on the demand for the product. For instance, if you are a nanny, and you set up a website offering tips on child care that also sells baby food – your business depends ion the manufacturer of the baby food product. If the manufacturer is weighing the options of moving to a new product platform and plans to discontinue service for the existing products, the demand on your website is likely to diminish soon. Hence it is necessary that you tie up with reliable providers with a good rate of success.

Home Based Business Reserves No Room For Fear Or Self-Doubt

A couple of the most frequently cited causes of apprehension to engage in a home based business are fear and self-doubt. These two things handicap our ability to formulate a plan of action. Alternatively, we allow the negative voices in our head to convince us that success is unlikely, therefore we fail to even try. Hence, to become a successful home based business owner, we must minimize the effects of fear and self-doubt.The truth is that both self-doubt and fear are quite natural. They are so natural that many people who are fearful, and doubt their abilities, do not allow these feeling and thoughts to keep them from moving forward. By moving forward, they are able to show themselves that their feelings of fear and self-doubt were unfounded, and that they are actually extremely capable of being successful. On the other end of the spectrum, those who do not take action remain motionless in their lives, and only gain confidence in areas in which they are compelled to take action, such as work. However, even in a work environment, these individuals are still overcome by fear when it comes to advancing their careers, developing new skills, or creating new associations.There is an opportunity cost to allowing the fear of failure and self-doubt to navigate which path you take. When people give up before even trying, their predictions of failure will become true because the actions, or lack thereof, which they decide to take will cause their predictions to come true. Such a tautology will lead anyone to will lead any capable individual to forgo home based business opportunities which they would have been ideal.Feelings of fear and self-doubt come from different sources, and in different forms. Whatever the form or source may be, we can learn how to meet them head on, and counteract them. I have compiled a list of then things which anyone can do to eliminate fear and self-doubt, and bring huge home based business success.1. Write out a list of each of your fears. Acknowledgment will allow for confrontation.2. How do your fears and self-doubt impact your life negatively? Get a pen and paper and write these down.3. Wait for those negative voices to come inside your head, and expose them as artificial4. Build a support network of individuals who experience your same fears and self-doubt.5. Join a support group of people who have similar issues.6. When an negative thought or message comes your way, counteract it with a positive thought or message, and act as a positive person would.7. Consult readings and videos which compel you to take action.8. Recognize your past, and leave it there.9. Make a list of your goal, plus what you need to do to make them come to life.10. Whatever you determined you need to do to make your goals come to fruition must be done on a daily basis. Doing this will cause your fears and self-doubt to diminish day by day.What you need to recognize is everyone who either has owned, or currently owned a home based business had to deal with fear and self-doubt at one time or another. This even hold true for the so-called online business experts. The only thing separating them from yourself is the fact that they did not allow fear and self-doubt to deter them.

Success Factors – Keys to Your Home Based Business Success

What are Success FactorsThink of them as building blocks, the more you have the stronger your foundation, the stronger your foundation – the stronger your business!Entering into any home-based business venture is an enormous challenge that will require all your skills and then some. It will take many, out of their comfort zones, and throw them into the twilight.You may have that uncontrollable urge to set up a productive Home-Based Business, and put the results of your productivity in your own pockets, instead of the pockets of others.What is an Entrepreneur An Entrepreneur is simply one who has an idea, organizes, operates, and assumes all risks of their home-based business venture.Most home-based businesses require the same Entrepreneurial Characteristics as any franchisor; it is your concept, your planning, your skills, your knowledge and your implementation of your detailed Business Plan that will determine the success of your home-based business.What are the some Success Factors of a Home-Based Entrepreneur?* Entrepreneurs must be self-motivators and resilient.* Resourceful, able to adapt and adjust,* Knowledgeable about their home-based business venture,* Entrepreneurs are skilled in money management.* They establish realistic, short and long-term goals.* Entrepreneurs are Decisive.Please remember, Home-base Business continues to evolve; both the entrepreneur and success may soon be redefined. In order to succeed in a home-based business, one needs more than heart.Many Home-Base Businesses fail because people fail to investigate and understand the magnitude of what it takes to be in business.You may have to make personal sacrifices. Some quickly become disillusioned when they meet adversity. They frequently set unrealistic goals or believe in the six figures a month stories promoted on TV, and in many articles.┬áThe decision to own a home-based business is yours. Your vision can take you through to retirement providing enjoyment and financial security for you and your family.Don’t let fear paralyze you from taking action; denying you the life you deserve. Do you hear that knock on the door? Its success and it’s waiting for you! I am a firm believer that if you want something in life you have to go after it with passion and persistence. So, put the remote down and grab hold of success.In summary we suggest you: remember to think of the success factors mention above as building blocks, the more you have the stronger your foundation, the stronger your foundation – the stronger your business! You can learn the skills needed for these success factors and by doing so you increase your chances at home business success.

Property Management Fees Explained

When you hire a property management company to serve as the liaison between yourself and your tenants, you want to be sure you’re getting the best possible property management services for the money. The services a property management company provides can range from ala carte to an all-in-one inclusive package. Along with that comes an array of fees for each. There is no set in stone fee structure we can provide you. But we can educate you on what common fees to expect and what each is commonly for. In the end it will be up to you to compare company fee structures and choose the best one that fits within your budget. Below are some of the most common fees and what service they provide.Commission This is an ongoing monthly fee charged to the owner to compensate the property manager for the responsibilities of overseeing the management of their property. This fee can vary from as little as 3% to over 15% of the monthly gross rent. In place of a percentage some managers may charge a flat monthly amount which again can vary from $50 to over $200 per month. All property management companies generally charge this fee.Lease-Up or Setup FeeThis fee is charged to the owner to compensate the property manager for their initial time invested and resources used in setting up an owners account; showing property and/or other activities resulting in tenant placement. I guess you could look at it as a “finders fee” for placing a tenant in your property. Once a tenant has been placed and first rent income comes in, the property manager will deduct this fee from the rent proceeds. Some property managers have been known to require this fee upfront prior to tenant procurement. Usually this fee is non-refundable once the property manager has started the process of tenant procurement or any legwork has been initiated with the property. This fee can vary from none to as much as the first months rent, and usually is a one-time fee per tenant.Lease Renewal FeeThis fee is charged to the owner when a property manager renews a current tenants lease and covers the costs of initiating paperwork or communication involved in implementing the new lease document. A property manager may also justify this fee if they perform a year end inspection of property. This fee can vary from none to $200 or higher, and may be charged every time a lease renewal is implemented.Advertising CostsDepending upon the property management company’s contract, either they will pay the advertising costs or the owner or they could split the costs. If the manager is willing to cover this cost, most likely they will charge the lease-up or setup fee as outline above. If the management company covers this cost make sure to find out what type advertising or marketing of your property is included. If it’s placing your listing on their own web site and other free online classified sites you may not be getting your monies worth. They are many good rental or tenant resource online web sites that bring in qualified tenants for a reasonable fee and you will want to consider these. And don’t forget about print media, yard signs, listing on the MLS or even an open house. Nothing is worst than having your property vacant, bringing in no money only because you or your property manager skimped on advertising.Maintenance Mark-up ChargesThis is one of those costs you may never really of known about or had it disclosed to you. A “Mark-up” is a charge over and beyond the final bill on maintenance and/or repair work done to your property initiated by your property management company when using their vendors or in-house maintenance staff. This should be disclosed in your Manager/Owner contract which usually will state the markup as a percentage above the final invoice from vendor. For example, your manager had to call a plumber to replace the dishwasher in your rental property. Total charges for completing the job: $400. If your property manager contract states you will incur a 10% markup on all maintenance work the actual cost to you will be $440. Just one of those things to be aware of as these all eat into your profits.Early Cancellation FeeThe dreaded “3 months and no tenant”. Your property manager insist he or she’s doing everything they can to find you a tenant. But here it is 3 months and still no tenant; what do you do. Well, look at your Manager/Owner contract and that might be your deciding factor. I am not a fan of this fee, and believe it to be an unnecessary fee and for you manager out there this could be the deal breaker. I’ll tell you why; if a property manager is doing their due diligence and keeping the owners in the loop as far as decision making, market conditions and communication lines open an owner will not be second guessing his property managers abilities. The odds of this scenario happening is unlikely but you must be prepared for it. A cancellation fee can range from none to over $500. To be fair, some managers legitimately deserve this fee especially if they have pocketed advertising costs, incurred lots of legwork and time invested in your property.”You’ve Got To Be Kidding Me” Fees – These are ones I have personally had the pleasure of running into.

Your property is vacant, but we still will charge our monthly commission or a small flat fee.
“A For-Rent Yard Sign Fee”. I believe this was $25/mo.
“Preventive Maintenance Fee”. This was to cover the “just in case” and changing out A/C filters. If “just in case” never happens they still pocket the money. I believe this was $20/mo and I still was charged for filters.In Summary Read your Manager/Owner contract, understand what you are signing, ask lots of questions and know what the fees will buy you in services. A good real estate lawyer can help in negotiating the terms in a contract that suit both parties. These contracts are not set in stone. If your property manager will not negotiate, there are other property management companies that are eager to earn your business.

Top Things To Think About Before You Hire Your Property Manager

Hiring a good property manager could mean the difference between the success and failure of your property. You need to make sure that they are capable of handling every aspect without fail. When choosing your property manager, you need to make sure that they have the experience and expertise to handle your vacancy rates, tenants and payments.

Tip1- Experience

Choosing someone with experience is vital. This doesn’t just mean someone with years in the property trade. You need someone who is experienced in your local area. A local property manager will not only guide you on your property, but they will also be able to give you the crucial local knowledge you need to excel. Local experience can go a long way with a property, from determining rental rates to personally knowing the tenants.

Tip 2- Dedication

The property manager you hire needs to be fully dedicated to your property. You can find this out by looking into their customer reviews. This is the best way to find out about how efficiently they perform their services. You need someone who is consistent in their duty- as well as being experienced.

Tip 3- Resources

When you hire a property expert, you don’t just hire their services. You also hire someone who has access to a world of resources which otherwise would be unavailable. By making sure that your property expert has the tools you need to progress, you can be certain to succeed. This can include tenant screening services, rental collection, and portals between both yourself and the tenant. Sole property managers generally do not have access to these resources, so it is better to go with someone who is part of a reputable firm.

Tip 4- Professionalism

Your property expert is the face of your investment. You do not want to hire someone who does not look the part. Appearance can say a lot about a person, and someone who wears a suit and tie will say a lot to your tenants. If you want a phenomenal property manager, then you need someone who believes they can make a difference. You want them to carry out their duties without question, performing the necessary steps to give your property the best chance of securing quality tenants.

Newspaper Advertising Costs – 8 Factors To Consider

Calculating and comparing newspaper advertising costs can quickly get complicated. Once you’ve tracked down a newspaper advertising rates card, you’re then faced with the delightful challenge of making sense of it all. There’s no “one size fits all” to make our lives easy. Instead, newspaper advertising costs depend on a number of factors, some of which you might find surprising. To answer the question, “How much does it cost?”, the answer would be: “It all depends.”

8 factors that affect newspaper advertising costs (within the one publication) are:

type of ad
size
day of the week
section or lift-out
page position within a section
left hand side VS right hand side
colour VS black and white
annual spend/expenditure commitment
In this article, I’ll discuss the 8 factors that determine newspaper advertising costs in Australia. I’ll also provide an example of how much it would cost to place a display ad in The Courier Mail (a Queensland newspaper). As you’ll see, newspaper advertising costs can quickly add up. If you’re on a tight budget, as many of us are these days, knowing what most affects the cost, allows you to cut back where you can.

#1 Type of Ad – Display VS Classifieds VS Inserts

The first factor that decides the cost of a newspaper advertisement, is the type of ad. Most Australian newspapers offer a number of different types. Display advertisements appear throughout a newspaper, and may use colours, illustrations, photographs, or fancy lettering to attract the reader’s attention. These provide a great deal of creative control over the content of the ad, without being limited to just text. They also aren’t grouped according to classification, unlike classified ads. Display advertisements are typically charged at a rate per single column centimetre. In other words, the height in centimetres and width in columns determines the cost of the advertising space. On the other hand, classified ads are typically charged based on ‘lineage’ or per line.

Another form of advertising offered by most major newspapers are ‘inserts’ – separate advertisements that are placed inside the newspaper, and can have more than one page. Inserts are usually charged at a rate of per 1000 per number of pages. For the purposes of this article, we’re going to limit our discussion to display advertisements.

#2 Size Matters

The second factor that contributes to the cost of newspaper advertising, is size. As mentioned above, display advertisements costs are calculated based on their height in centimetres, and width in columns. Most newspapers have their own standard sized advertising spaces, which your ad needs to fit into. Some newspapers offer non-standard sized spaces, such as a ‘U’ shaped ad around the edges of an open paper, but be prepared to pay a higher price for irregular sizes and shapes.

Let’s look at the standard sizes available in The Courier Mail, as an example.

“Small Page Strip”, 6cm high by 7 columns wide, the minimum casual cost per day (based on a Mon-Fri Casual rate of $AU58.51) is $AU2457.42.
“Medium Page Strip”, 8cm high by 7 columns wide, the minimum casual cost per day is $AU3276.56.
“Quarter Page Strip”, 10cm high by 7 columns wide, the minimum casual cost per day is $AU4095.70.
“Horizontal Half Page”, 20cm high by 7 columns wide, the minimum casual cost per day is $AU8191.40.
“Full Page”, 38 cm high by 7 columns wide, the minimum casual cost per day is $AU15563.66.
“Vertical Half Page”, 38cm high by 4 columns wide, the minimum casual cost per day is $AU8893.52.
“Vertical Third Page”, 38cm high by 3 columns wide, the minimum casual cost per day is $AU6670.14.
“Vertical Quarter Page”, 38cm high by 2 columns wide, the minimum casual cost per day is $AU4446.76.
“Portrait Half Page”, 28cm high by 5 columns wide, the minimum casual cost per day is $AU8191.40.
“Portrait Third Page”, 20cm high by 4 columns wide, the minimum casual cost per day is $AU4680.80.
“Portrait Quarter Page”, 20cm high by 3 columns wide, the minimum casual cost per day is $AU3510.60.
Here you can see that the cost of a standard size display ad can range from at least $2457.42 per day for a small page strip, and up to at least $15563.66 per day for a full page advertisement. That’s an awful lot of money to invest in a single page, that will only be published on one day. Most of us simply don’t have that kind of cash to throw around, so you’d really need to know what you were doing. This example demonstrates how much the size of a display advertisement affects the price.

#3 Day of the Week

The third factor that contributes to the cost of a newspaper advertisement is the day of the week on which the advertisement is published. Typically, newspaper circulation is greatest on the weekends, and so the advertising rates for major Australian newspapers are adjusted accordingly. In our example of The Courier Mail, the rates are cheaper on a weekday, more expensive on a Saturday, and most expensive on a Sunday. For the most basic display ads, Saturday ads are 25% dearer than Monday – Friday ads, and Sunday ads are almost 90% dearer than Monday – Friday ads.

This pattern may vary though, depending on the circulation of a particular publication. For instance, The Age is most expensive on a Saturday. To illustrate how much of a difference it makes – a small page strip ad in The Courier Mail on a weekday would be at least $2457.42, and the exact same ad run on a Sunday would be at least $4637.64.

#4 Different Sections or Lift-Outs

Most newspapers are divided into different sections and many have lift-outs – and this is the fourth factor that determines newspaper advertising costs. Different sections attract different readers and different volumes of readers, and so the advertising rates are adjusted to reflect this. For example, an advertisement placed in the CareerOne (Employment) lift-out in The Courier Mail, costs 2% more than the general section. The rates for CareerOne, also vary depending on the day of the week, as mentioned above. Some examples of other sections that may have different rates include: Adult Services, Funeral Notices, Real Estate, and Business.

#5 Page Position Within a Section

The next factor that can significantly affect the price of a newspaper ad, is the page number on which the ad appears, within a certain section. The most expensive part of the paper is typically the front section, which might include the first 10 or so pages, and is referred to as the “early general news” or EGN for short. In our example of The Courier Mail, page 2 in the EGN section attracts a 60% loading. Similarly, the first 11 pages have at least a 50% markup. This type of loading is common practice across Australian news publications. Now let’s say we wanted to place a small page strip ad in The Courier Mail on a weekday, on page 3 in EGN, the cost would be at least $4054.74.

The first few pages and back pages of other key sections of the paper, such as Business, also attract a higher loading. For The Courier Mail, the very back page attracts a 65% markup. You can see how the page position of an advertisement can have a substantial influence on the price.

#6 Left Hand Side VS Right Hand Side

The next factor is also related to position of the ad, but relates to which side of an open newspaper the ad appears in. You might be surprised to know that, in some publications, an ad that appears on the right hand side of an open paper, will cost more than one that appears on the left hand side. This is to do with the way readers actually read a newspaper, and where their attention is focused. This factor may also be tied to the page position of an ad, and which section it appears in. For example, in The Courier Mail, for ads on pages 12 to 21, a right-hand side ad costs 5% more than a left-hand side ad.

#7 Colour VS Black and White

Another factor that substantially affects the price of a newspaper advertisement, is whether the ad features colour, and how many colours. Colour ads are more expensive than monochrome or black and white ads. Some newspapers may distinguish between multi-colour advertisements and those that only feature one added colour (called “spot colour”). For example, The Courier Mail charges 30% more for multi-colour display ads, and 20% more for ‘spot’ colour display ads. Remember, that this is combined with any positional loading.

So let’s say we wanted our small page strip ad in full colour in The Courier Mail on a weekday, on page 3, that would be calculated as: $2457.42 + 30% colour loading = $3194.65 + 65% positional loading for page 3 = $5271.17

You can see here how the cost of our ad has more than doubled after we’ve factored in the colour, and position of the ad.

#8 Annual Spend/Expenditure Commitment

Now here’s a factor that also affects the price of your newspaper ad, but this time it’s a decrease, with a catch, of course. If you have the budget, and are prepared to commit to spending a certain amount annually, usually by entering into a 12 month contract, then you may be entitled to a discount. However, the discount depends on how much you’re prepared to spend. For example, to qualify for a 4% discount on The Courier Mail’s advertising rates, you need to spend at least $38500 per year. If you’re a small business owner, chances are you’re not working with this kind of budget, so bye-bye discount.

Just in case you’re curious, businesses that annually spend at least $2.3 million with the Courier Mail, receive a 13% discount. In my opinion, this form of discounting simply highlights how biased mainstream advertising is towards big business. Where’s the discount for all the struggling small businesses? But that’s another story.

Summary:

To sum up, those 8 factors again, and how they’ll affect the cost of your ad:

type of ad – display VS classifieds VS inserts – rates based on different measurement units
size – pay more for bigger ads
day of the week – weekends are more expensive
section or lift-out – early general news (EGN) is more expensive
page position within a section – front pages and back pages cost more
left hand side VS right hand side – RHS is dearer
colour VS black and white – pay more for full colour
annual spend/expenditure commitment – get a discount if you spend up big
Now that you know what affects the price of a newspaper advertisement, you’re better prepared to decide where and how you want to spend your advertising dollar. If newspaper advertising seems beyond your budget, then it might be worth considering more cost-effective alternatives, such as online advertising.

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?

Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.

HOW PENNY AUCTIONS WORK!

The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.

HOW TO WIN!

Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.

HOW TO AVOID SCAM SITES!

Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.

CONCLUSION!

New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.

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