Hi there! You are here probably because you want to know all about online auctions. We are here to explain what are online auctions, how to start an online auction, who can start an auction, and more important what are the needed things to have your own online auction. The online auction is also known by the term of virtual auction, where everything happens inside of an app or a website. An example of such website is ebay, probably the most famous auction website. The current article describes a broader approach, but if you want to know how to create an auction website like ebay then read that.
Can I run an online auction ?
Anyone can run an online auction. You just need the proper software installed in your website, and of course a website and a domain name. We have discussed the hosting and domain part already in a lot of detail and you should follow the hosting packages and domain names article. We have recommended in other articles, and still we can recommend the usage of wordpress. And specially the wordpress auction theme that we have on for sale. This is very similar to an auction script for php, but still some differences.
How does an online auction work ?
Almost in all cases the auction site has buyers and sellers. Sellers will post an item for auction or just for purchase. The auction site will let the customers browse through available and live auctions and place bids for the ones they want to buy. In the end the highest bid will win the goods. And the website owner will take commissions. Thats how auction sites make money.
How do I start an online auction ?
Starting an online auction website is not that hard, but you have to follow the steps we have described before in this article. That means you have to have a website , hosting and domain name, and of course the auction software that you need. That will be the engine of your website and with that you will have the functionality for auction.
Who can participate in online auction ?
In most cases, the website will make people register for an account, and only after they are registered and verified, they can participate for the auction. Even the sellers on the website need to be verified before they place anything for auction in that website. And the website and platform owner will do all these checks just for security reasons. Because sometimes the actionable goods are expensive like art, jewelry, cars, real estate.
What is bidding in online selling ?
A bidding system in online selling or in any auction site, is a system that lets the users to bid for the same product. That means the users will start small and big more and more until someone wins the goods. The price will go up dollar by dollar (or cent by cent on penny bidding systems) until the item is won by someone. The auction script or auction software will give you these options. And depending on the complexity and features you will have more or less options.
How much does it cost to have an online auction ?
The cost can vary from a few hundred dollars to thousands or even tens of thousands. Creating an auction site can be as simply as buying a wordpress auction theme and installing in your site, but this can also be customised by an agency and it can cost even tens of thousands depending on the options they want to have.
What are the other auction alternatives ?
We consider the best auction script is the wordpress auction theme, but other alternatives could be shopify auctions or wix auctions. But the wix auction plugin or shopify solutions are not that great, and are almost non existent.
As the final thought here we can say just one thing. And that is the auction software matters the most. Because when launching an auction site , you will have to use some auction script and that is the key for your site well being. Thats why we have recommended the auction theme for wordpress as the easiest way to start an auction site. And also read about 5 best practices about auction sites.