5 reasons why to use your own auctions instead using auctioning platforms
1. More control
When you run your own auctions, you have more control over the entire process. You can set the starting price, reserve price, and auction duration according to your preferences. You can also set specific rules for bidding and shipping that fit your business needs. This can help ensure that you get the best price for your excess stock and that the process goes smoothly
2. Cost savings
Using an auction platform typically involves paying fees or commissions on the sale price of your goods. By running your own auction, you can avoid these fees and save money. Additionally, you can avoid any additional expenses associated with using a third-party platform, such as listing fees or marketing costs.
3. Branding and customer engagement
By running your own auction, you have the opportunity to engage directly with your customers and promote your brand. You can use the auction as a way to build loyalty and create a unique experience that sets your business apart from competitors. Additionally, you can collect valuable customer data that can be used to improve your marketing efforts in the future.
4. Faster turnaround time
When you use an auction platform, there may be a delay between the time you list your items and the time they sell. By running your own auction, you have more control over the timing of the sale and can potentially sell your excess stock more quickly. This can help you free up space in your warehouse or storage facility and generate revenue faster.
By running your own auction, you have more flexibility in terms of what you can sell and how you sell it. You can customize the auction to fit your specific needs, and you can even use it as a way to test new products or pricing strategies. This can help you learn more about your customers and what they are willing to pay for your products.