Using Reverse Auction Sites to Profit
January 7, 2008 – 2:48 pmWhen you conduct a “reverse auction”, you are asking sellers to compete to obtain business. For example, say that you would like to buy an iTouch; people who have an iTouch would make an offer, versus the alternative, where you would go to a traditional auction service to look for the item directly.
I propose that by using a reverse auction service, you will increase your profit opportunities by:
- Saving time from searching through pages of listings.
- Gain clarification on what you need by the community instead of conducting time consuming research.
- Get competitive pricing through the bidding process.
Here, I am measuring your profit as the difference between having someone bid on your need, versus the cost of finding the service yourself in addition to the final price received from the vendor.
2 Responses to “Using Reverse Auction Sites to Profit”
I found an auction place on the web that has one the most concepts of this good: inverse auctions, and indeed! The good is given to the person that makes the lowest unrepeated bid! And the best thing about it is that these good are luxury ones.
By microsoft certifications on Jun 24, 2009