Article Charity Auctions Today online auction platform

1. How to Conduct an Auction on An Online Platform The thrill of traditional auctions can never be discounted – the competition to win an item, hectic bidding egged on by an auctioneer with a paddle, and the bonhomie among the participants. However, post-Covid-19 pandemic, the usual auctions have come to a standstill, what with lockdowns and social distancing norms in place all over the world. Auctions have always been the lifeblood of charity organizations for fundraising. But with the unexpected restrictions, auction fundraisers have moved online and anybody with an Internet-enabled device can participate from any corner of the world. There are many benefits if you hold a fundraiser on an online auction platform. First, your event is not tied down to specific locations and geographical borders as anybody can bid from any place on earth. With a wide reach and audience, you get a higher price for your items since the bidding for prized products is generally fast and fierce.

2. Further, the items for auction do not have to be moved around. They stay with the donors or sponsors and only the pictures are displayed on the online auction platform. After a winner is identified, the item is shipped directly from the merchants to the address. • The most critical aspect of a fundraiser on an online auction platform is the promotion strategy to be adopted. Unless you optimally advertise your auction online, you cannot guarantee its success. Carry out a sustained marketing campaign through email, a buzz on social media platforms, and informing contacts from previous auctions. • How do you go about planning and holding an event on an online auction platform? • Select a suitable site: Research the Internet to select an online auction platform that is perfect for the type of fundraiser you have planned and the items that you intend to display. Most sites have a limit on the items so read the fine print carefully before choosing one.

3. Choose your products carefully: Do you want to have several products or one only to be sold in bulk? Evaluate the demand for the items and the estimated profit margins. On an online auction platform, the top sales are generally from toys, event tickets, collectibles, computer hardware, and books. Niche markets account for around 43% of online sales at auctions.

4. Options for listing: There are several listing options before you and what you decide depends on how you would like to sell your products. In regular listings, you select a particular category on the site and your item automatically gets listed there. Reserve price auctions are those where the amount at which a product will be sold is specified. However, this type discourages those who are looking for a quick deal and bargain. • Finally, look for a free online auction platform. There are no charges for displaying the products or using the software. Only third-party fees like that of payment gateways have to be paid.