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Differences in the Types of Auctions That Take Place Around the World

Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

What You Need to Consider When Starting a Home Based Business

If you are starting a home based business there are a variety of things to take into account. Will you incorporate? Do you need clearance from your local government to do business out of your home? How are you going to manage the paperwork and the accounting? Are there any legal issues to be dealt with? Do you need to be OSHA compliant? Do you need a license – as you would for many child care businesses? Have you arranged sufficient funding to see you through your first months and years of business?All these concerns have bearing when you are starting a home based business. The shift from home being a shelter, to home being a place of commerce is bigger than it looks. The options can be extremely variable, depending on the type of work you are doing, the scale on which you are doing it, and the laws of your region.Even the choice of neighborhood can alter certain answers: some homeowners associations are structured to forbid home based business. While in many cases such rules can be navigated to the satisfaction of all involved, in others the entire question of starting a home based business becomes a nightmare of red tape and legal rulings.The first thing to consider for your home based business is whether your work is going to place demands on your neighborhood. Increased traffic, construction sounds, appealing but dangerous aspects of the work that can lure in small children and alterations to the appearance of your home matter, and increase the likelihood that you will need clearance to operate.Incorporation can also automatically include a requirement to inform and gain consent as you transform yourself from a simple civilian to a corporate identity. If you are starting a home business that involves any overt changes in the neighborhood you must be prepared to explore the legal complications involved.If you are considering a home business dealing with children, or livestock, be particularly aware of the many similar regulations controlling these two very different businesses. Hygiene, oversight, health regulations all come into play, as do child protection and animal protection services.Zoning and licensing issues can become crucial for any home business that deals primarily with any kind of living creature as a major aspect of day to day care and maintenance.Low impact businesses may entail similar issues, but usually on a much lower level. Starting a home business in typing, or computer consulting will still present you with due diligence issues, but seldom involves the degree of legal regulation involved in more physically involved endeavors.Even then, you will need to consider basic business concerns. How are you funding your start up? Do you intend to proceed as an incorporated entity, or as an individual freelancer? The tax laws alone differ, and depending on the amount of money made and the terms you will need to make a choice at some point what basis you will proceed from.If you are planning on shifting from full time employment to self employment, be sure to make a business plan and have it reviewed by a business consultant. This document will be your road map for the short and long term goals.The lure of starting a home based business is real and valid. If you choose well, work hard, promote yourself appropriately, and have even a bit of luck, your new business opportunity can provide you with income and independence for a lifetime.Make it a great dayDarrell Lischka

5 Home Based Business Marketing Tips

Starting a home based business can be one of the best ways to increase your income and start moving closer towards achieving your financial goals. However to be successful it is important that you focus on doing the things that need to be done in order to make your business a success.

This means that you must focus the majority of your daily efforts on doing the things that will lead to not only making sales but also to earning you a good profit. The good news is that when you plan and prepare a realistic budget and stick to it, this is much easier to accomplish.

The mistake that many first time home based business owners make is that they do not take a structured approach to building their business. This causes them to be easily distracted, jumping from one thing to another and as a result they may end up over spending, accomplishing very little and soon just quitting.

However by following a few simple tips you can significantly increase your chances of achieving online success and reaching your income goals.

Here are 5 Home based business marketing tips that can help you:

1.) Set clear, specific, realistic and achievable goals. Many people start off with hopes of striking it rich within their first few weeks of being online. This rarely if ever happens, especially if you have no prior business experience, training or additional guidance.

It is much better to start with small achievable goals like getting a certain amount of traffic per day and then increasing that number until you are starting to see results.

2) Identify your target market – This is an important step that a lot of new business owners skip but it is important that you identify A.) who is your idea customer and B.) What is the best way to reach them. This can save you a lot of time with your marketing budget and efforts.

3.) Have a strategy that you can use to develop your plan of action. This strategy could and should include more than one approach for marketing your home based business.

For example your strategy could revolve around using search engine optimization and this could include article marketing, bookmarking at different social media sites as well as using other forms of social media such as Facebook, LinkedIn and Twitter.

4.) Create a plan of action and systems for doing things. This should include ongoing tasks management systems which allow for things to be done on a regular basis. You should not rely on how you feel each day to determine what will get done that day.

By creating a plan of action or a work flow system you can set up daily action items to be done each day that will move your projects forward and allow you to achieve your income goals and objectives.

5.) Manage your time well. Having daily achievement goals is a great start to achieving success with your home based business however unless you are maximizing your time usage, you may not be getting as much done as needed. This can prevent you from realizing even more success even faster.

By following these 5 tips you will be able to stay focused on doing what needs to be done to make daily progress and achieve your income goals.

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