“There are a lot of decisions you have to make when you have your own online auction. If you have items you want to auction off but you are not sure whether private or public is the better choice, start by learning what the benefits of a private online auction are. If you are not sure of the advantages of each and which will be better for you, learning the benefits of a private online auction will be wise. One of the best things about a private online auction is that you are able to better target your audience.
There is also a lot more flexibility with the private auction. Instead of leaving all the details up to the auction site you are going through, you really leave more of it in your hands. You can also have buyers put higher bids on your items than most auction sites will allow. Sites like eBay and Etsy usually have maximum limits that bidders can reach so for instance you would not be able to make $100,000 off a $1,000 piece of jewelry if you were selling it over one of these sites.
When it comes to more expensive items, such as pieces of real estate and the likes, it is always better to go with a private auction. You do not want to have to deal with reserve prices for one, and because you have more freedom you are better able to decide when you want to give someone a deal and what price you are just not acceptable with. But then you are also able to target the buyers you want and make sure you get the quickest buy. Because the public auctions are open to anyone who is interested, it is much less selective.
To improve your chances of finding a buyer and making the process faster to boot, it is always better to target your main audience and go about things this way. Always be careful when going through with your first auction and especially if it is something really valuable like a home or vehicle. It will also be worth it for you to take the time and make yourself more familiar with the different private auction terms that are often used. The last thing you want is to end up putting yourself out money or ending up in trouble on your own account.
Take a look on a site like eBay for instance and you will see lots of clothing, collectibles and other items that are not so expensive. There are also other styles of auctions including the Dutch auction. Just be sure you take the time to consider both sides of things so you can make the right decision. You may also want to get professional help to guide you through the first few private auctions.”