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How Could You Make Money From Unique Bid Auctions? by Oliver Brand





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How Could You Make Money From Unique Bid Auctions? by
Article Posted: 05/01/2013
Article Views: 97
Articles Written: 205
Word Count: 596
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How Could You Make Money From Unique Bid Auctions?


 
Internet,Marketing
Making money is not something that is particularly easy these days. If you are looking to create a second income or maybe even to quit your job, you'll have been told by many that you need to find a gap in the market. The reality is that 2-3 decades ago, there were hundreds of gaps in the market. Things have changed considerably. Even the almost guaranteed ways of making money, such as property investment, have been flushed away. So, could unique bid auctions be the opportunity that you have long been waiting for?

How do they work? The way unique bid auctions work is actually fairly simplistic. Bidders create a free online account. At this point, they can research historic auctions and decide which auctions they want to bid on. They purchase bid credits, which will allow them to actually make a bid on the auction of their choice. They need to guess what the lowest unique bid is going to be. If they win, they pay the amount that they bid. This is guaranteed to represent a massive discount, the likes of which have not been seen anywhere before. The auction platform makes money from the bid credits and the buyer saves a huge amount of cash; everyone is extremely happy.

Where is the opportunity? Check many of the online platforms that allow private sellers to sell new items. You will find that electrical goods in particular sell for extremely high prices. The discounts that these private sellers give are extremely small, usually around 10%. So if you were able to win an item on one of these unique bid auctions, then you would be able to sell it as a private seller on one of these traditional platforms. The profits could soon grow to be very large and all you have to do, is keep winning the unique bid auctions.

The warning Like with anything if it was easy, everyone would be doing it. What you need to consider is that with every auction that passes, there is only going to be one winner. Of course, that winner could quite easily be you. At the same time, you might be one of the disappointed bidders that fail to win anything. Depending on your commitment, you might have lost a significant amount, rather than saving anything at all. For this reason, you need to do some background research on this in order to be successful.

Creating the opportunity You don't just need to win one of these unique bid auctions, for this strategy you need to keep winning them on a regular basis. This will ensure that you have a regular flow of goods in and out of your possession. Of course this regular flow of goods is going to result in a regular profit, which was always the aim from the beginning. Don't rush into things. You need to take each stage of the learning process slowly. Don't just be happy that you have won one or two items. Instead, think about ways that you can change and implement your strategy so that you can win three to four items in the same period of time. Another great piece of advice is to start of with the lower value products as these will require fewer bid credits so you will be risking less.

Take a look at BidGrid, the leading unique bid auction site in the UK where the lowest unique bid wins. You can quickly sign up for free and tryout the free practice auctions. Auctions ending every day.

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