Christie’s, a famous British auction house founded in 1766 by James Christie, is now focusing its efforts on online sales. In summer, Christie’s closed its South Kensington salesroom, after 42 years of ancillary sales of objects, antiques, and design pieces there. Many of those sales will become online-only. Online Field for Auction Houses Though the online field is still in...
The online auctions industry is growing with rapid advances as more time-strapped and cost-conscious consumers are looking for convenience they can have to find, compare and purchase products online easily and quickly. Online Auction Industry As there is increased consumer spending and growing number of total internet connections, revenue for the e-commerce and online auctions industry is projected to rise...
Instant online auctions have revolutionized the auto industry. Previously, car lots would have to spend money on paper ads and commercials in order to sell their cars. But thanks to technology, these salesmen are experiencing fantastic profits. Instant online auctions now save time and costs for salesmen. If you are in the auto industry, then your business can benefit from...
Penny auction websites have become staples in the lives of consumers. Thousands of desirable items from electronics to clothes are placed below value and are placed in an auction. Millions of consumers flock to these penny auctions looking for that special item to acquire for below market cost. Penny auction merchants earn millions in profits due to the consumer quest...
Finding a merchant account processor is tough for any company. There is so much reliance upon the company that you must make the right choice. It can be nerve-wrecking, because there are many processors, and many different ways that they operate. Not every processor is for every company, and if you have a penny auction website, you know that it...
Are you ready for the next evolution in penny auctions? On July1, consumers will be introduced to the new website, PennyVacay.com. Founded by Shane Marcus, the website gives users the ability to bid on vacation destinations instead of traditional merchandise. PennyVacay will offer premium vacation packages and have a loyalty and reward program integrated into the website. Right now, all...
Penny auctions are believed to have started in Europe. This web phenomenon has led to hundreds of startups looking to jump in on the popularity. Unlike websites like ebay, the merchandise is being sold by the owners of the website, not third parties. In addition, the bidding process is completely unique. A potential buyer pays a fee for every bid...
Penny auction websites have thousands of items for sale far below market value. From clothes to electronics, penny auctioneers earn millions of dollars as consumers hunt for bargains. Now is the time for entrepreneurs to invest in the development of a penny auction website. Penny auctions have been under scrutiny by consumer advocate groups and government agencies to ensure fair...
Everyone knows about eBay, and its popularity. While a big name now, eBay struggled in its early days. Auction websites, in general, are heavily scrutinized by the public and the processing industries. While many of these websites are legitimate, many are also not, so there is understandable fear when it comes to the industry. However, those legitimate penny auction websites...
Owners of penny auction merchant accounts for their auction sites are no strangers to the negative publicity that descended on the industry in 2011. Multiple reports from the Federal Trade Commission and the Better Business Bureau criticized and, more importantly, publicized the failings of the underbelly of penny auctions. Improper business practices brought about consumers complaining about a lack of...
