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Volume 1 Number 1 April/May 1999 The
Newsletter for Virtual Storefronts on ProAuction |
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| Big
Changes Mean Little Delays Although the ProAuction Website has been operating since the end of
February, it is finally reaching the point we had envisioned early on. Creating a first
class Website with all the bells and whistles took a little longer than we had expected.
Modifying the software to meet our needs, establishing and securing our online payment
systems, working with shipping companies to help automate deliveries, and integrating all
of these systems together to work as one seamless service has been a challenge.
We expect to be at full operation by the first of May. Obviously,
during the time that we have been developing our site, we have not charged any of our
Virtual Storefronts, except for the one-time setup fee. To encourage our existing
Storefronts to stay with our service, we will not begin charging any monthly fees to
Virtual Storefronts that have signed up prior to May 1st until after their first sale is
completed.
Just think... free advertising for your business on the Worldwide Web
that shows your shop, some of the items you carry, and allows potential customers to
contact you. And, sooner or later, they'll be buying from you online.
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| Interesting
Facts About E-Commerce According to Forbes.com, "the next wave of web auctions will
be from regular retailers, which customarily assign a fixed price to products."
Forrester Research's Evelyn Dykema predicts that soon everything from
clothing to cars will be on the virtual block, going for market price. According to the
firm, there will be $19 billion worth of consumer auctions in 2003, compared with 1998's
$1.4 billion.
By 2003, it is estimated that business-to-consumer auctions will
account for 66% of all online auctions.
Frankly, it amazes us that this kind of growth is predicted given the
lack of security and support found on many of the most popular online auction sites. Larry
Schwartz, president of Auction Universe, came right out and said in the Wall Street
Journal that "We stand behind nothing."
Ebay's Brad Handler, director of law and public policy, attempts to
skirt around the issue by stating that "Ebay is not an auction. Ebay is a
person-to-person trading community. As such, individual users are responsible for their
listings." Caveat Emptor! Let the buyer beware!
Aren't you glad that you are listed on a site owned and operated by professional
auctioneers who follow the National Auctioneers Association Code of Ethics, and
stand behind their Virtual Storefronts and the items they sell? We're glad you are! |
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| Coming
Soon Sales by Auction Tags We've come up with a clever way of generating interest in your store's
online items. The ProAuction sales tag is an effective way of quickly identifying which
items in your store are currently being listed on the Website. Simply write the Item
Number on a tag, and attach the tag to the item. Shrewd business people will use this as a
tool to generate a sense of urgency in their customers ("You should bid on this now
or you might miss out!") and potentially drive the asking price higher. If you have a
computer with Internet access in your store, you could even invite interested customers to
bid for an item right there. It's easier to encourage someone to bid for an item than to
buy an item outright.
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| Change
Is Good! Customers
like to see store items change over from time to time. Shoppers in Virtual Storefronts
like to see it, too. We recommend that you keep your auctions shorter (5-10 days, with 7
being an easy number to remember), and change around the items that you list from time to
time.
Shorter auctions seem to work better than longer ones for most items.
Many people will procrastinate if they seen an ending date half a month to a month down
the road. Some want to be secretive and not bid until nearly the end of the auction so
that other bidders won't know their intentions. Shorter periods encourages people to
"bid now" rather than wait until later. What if an item doesn't sell in that
shorter time? Simply re-list the item immediately, or re-list it at a later time.
Having unsold items not be re-listed for a while, and thus seem to
disappear, helps instill a sense of urgency in the shoppers. It makes them realize that
this just might be their only chance to purchase the item.
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Welcome New Virtual Storefronts!
4 Star Construction, Classic Coin and Bullion,
CJ's Antiques,
Hacienda Hardware: Colección Mexicana, and
Setnik's In Time Again. |
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