Education IRA – Finance Solution For College Education

Year after year, the expenses for college rise and some parents find it difficult to raise money for their child’s college education. Some parents have opted to save money for their child’s college via trust fund. But still, there isn’t just enough money to pay for other college expenses and miscellaneous. One way to make sure that there is money by the time a child reaches college is through education IRA.

It is an account specifically created to cater the financial needs of parents with children who will be going to college. It was created almost 10 years ago, January 1, 1998 to be exact. It takes money and years to build up a strong foundation for your child’s college expenses. But just like any investment, it is best started while the child is still young and the over-all expenses are still minimal.

If you want to invest on education IRA for your child who is under 18 year old, you can deposit up to $ 500 per year. Other immediate family members can chip in and contribute to your child’s education IRA, but make sure that your over-all contributions do not exceed the limit of $ 500 per one tax year.

The money you will put up for your child’s account will be taxed, but the earnings are non-taxable so long as the funds are paid for eligible college expenses. These expenses include the college tuition fee, laboratory and supplies, room and board, and books. You may want to check with the IRS for the detailed information about the eligible fees to be paid. If you prefer a financial planner, you may want to do the same step before paying for anything, because the last thing you would want to do is pay for extra fees.

A rule of thumb when considering an education IRA is: as your income increases, the less you can contribute. This rule applies for parents who have a limited or maximum allowable contribution for their child’s account. For instance, a single parent, unmarried, whose gross income is $ 96,500 in one taxable year, can make a maximum contribution of $ 450 per child for that specific year. For married couples who are filing joint taxes, with an income of $ 160,000, cannot contribute to an education IRA.

The bottom line here is this, if a single parent or both parents have more than $ 110,000 gross annual income per taxable year, they are prohibited to contribute to an education IRA. The IRS prohibits any parent to do so if that is the case.The contributions you will make for your child are non-taxable. However, when your child withdraws the funds, appropriate taxes will be deducted. Provided that your child complies with the rules governing the education IRA, taxes will not be charged. Only eligible college expenses are allowed in order to enjoy the tax free withdrawals.

If your child doesn’t want to go to college, you can turnover the education IRA account to one of your children. The turnover account will not be taxed as long as the rules are followed. However, if you let your child- the beneficiary of the education IRA account, withdraw the funds- he/she will be required to pay for an additional 10% tax. Check the IRS for details for this option.

One good tip before deciding to open an education IRA account for your child is to seek advice from the IRS. The process is quite easy and simple, but the complexity regarding tax rules needs more attention than anything else. Consult an IRS agent regarding this matter to ensure that your education IRA will be beneficial to you and your child.

Home Based Businesses Have Changed the Way Business Is Conducted

Just think about how the computer has changed your life! Where do you go to get information? What if you want a new product? Do you communicate daily with somebody on the computer? I would dare say we all do and it has changed the way we do business in the world today. People are working from home avoiding huge overhead if they started a conventional business in corporate America. Times are definitely changing.

People now work from home selling both products and services and are making a living doing so! In previous years, the concept of buying a product you had never held in your hands or seen before was unheard of and considered foolish. However, with booming home based businesses cropping up all over the country and throughout the world, purchasing almost everything you need or want via the Internet is not uncommon, but rather preferred by many consumers.

It Costs Less to Conduct Business From Home

It doesn’t take much to realize that producing a full-blown color catalog or product brochure can be expensive. How much easier is it to download a product or service catalog to an online website? The costs associated with doing business the corporate way have increased exponentially over the last several years. It makes sense to take advantage of the cost savings associated with having a business primarily online because as a business owner, you’ll still make money while saving money for your customers too.

Could I Work From Home?

Do you have access to the Internet? You can have an Internet based business that primarily provides information to potential consumers, or you can operate any number of home-based businesses right from the comfort of your own home using the Internet.

What is your passion? Do you enjoy helping people learn about healthier ways to eat? Perhaps you are a crafty person who loves to share knowledge and products for crafts. Take a look at the products in your own home and you may be staring right at your very own home based business idea.

For example, do you buy Reliv products? Do you love to scrapbook? Are you interested in offering a service such as sewing quilts or catering special events? Consider your passions and the products you already purchase right now and you’ll probably come up with ideas for your own business pretty quickly.

The growing acceptance of this type of business is phenomenal and encouraging to those who desire to leave the corporate rat race and work from a comfortable and productive location – home. It’s also wonderful for stay-at-home moms who wish to contribute financially to the family’s financial bottom line without ever leaving the home.

One other amazing advantage of working a home based business is that you don’t have to keep large amounts (if any) inventory on hand. You can have your product drop-shipped directly to your customer when they order online.

Did You Know?

In the year 2009, there were nearly 18 million people living out their dream of working from home! That’s an amazing number considering that Internet based businesses and home businesses haven’t been around all that long. This is the wave of the future and one that you too can benefit from if you’re willing to explore the options available to you.

Home Based Businesses and Ideas – What the Experts Won’t Share

When searching the internet for home based businesses and ideas it is really amusing what the “experts” have to say their top picks are. I am not knocking any of the suggestions that were made. They range from being a personal trainer, medical claims billing, coaching, web design, desktop publishing, personal shopper, wedding planner, and more. If you have a passion and are gifted in a specific area then go for it.However the majority of the people that are looking for home based businesses ideas have no special skill set and really no idea on what they want to do. Although this article will seem a bit biased there is a reason behind it.While conducting my research no where did I see them mention direct sales or network marketing. I will give a strong argument on why this is where you will want to start looking.The top 25 lists that I have seen requires the would be home based business owner to use all their time and effort. In most cases you will have to come up with a product, clientele, money, connections, skills, and more. The average person turned entrepreneur doesn’t even know where to begin to get all the necessities together. The biggest thing that is missing from this is a system that provides leverage.If you have read my articles in the past I am a big ambassador for systems and leverage.This and much much more is what the direct sales network marketing industry has to offer. This is generally speaking. Of course not all companies are the same. You will have the ability to learn the right skills to grow a profitable home based business:marketing, relationship, copywriting, and phone. By the way these are the only skills that matter.You will have a system in place that will help to eliminate the legwork that is time consuming. This allows you to only focus on the money making activities which is to direct targeted traffic to your website and talk to qualified prospects on the phone.The training and support that is available not even taught in colleges. You will learn real world experiences from the experts that are actually building a profitable business, not talking about one.If you research the statistics more millionaires are made from the direct sales network marketing industry than any other home based business. I will agree that if you search the internet you will see the nauseating statistics that 97% of people fail in this industry or make less than $200 a month.I do not disagree. However the difference maker from those that make money and those that don’t is their ability to market themselves. That is why it is critical even when researching companies in this industry to find out who teaches online marketing and self branding.Hopefully in this spand of time my case was made as to why you should strongly consider the direct sales network marketing industry. It is definitely one of the most overlooked home based businesses ideas that in my opinion offers the most benefits and rewards.

Which Home Based Business – 7 Points Promoting Online Businesses

Thinking of (or forced to) start a home based business? Thousands of people are realizing the benefits of working from home; others have no option since losing their jobs. Whatever category you fall in, which home based business is the one for you?There are so many different home based business opportunities and in this article I am going to concentrate on making money on line and the reasons why (7 in all) I think that the internet is where the future lies. So if you are wondering which home based business is for you let me try to persuade you that the Internet is the way to go.My 7 reasons why the Internet is where the future lies:
The Internet is in its infancy. Yes it seems like it has been around a long time but it is growing exponentially. In December 1995 there were 16 million users which was 0.4% of the world population. In December 2000 there were 361 million (5.8% of population) and in September 2009 these figures are 1,734 million and 25.6%. Still a long way to go.
Very little money is needed to get started. All you need is a computer and an Internet connection. Both are getting cheaper every day.
No experience needed and there is no limit to what you can sell. Virtually any product in the world can be sold by you to anyone else in the world. As an Internet Affiliate marketer I sell other peoples products to people I will never meet in parts of the world I have never been to. Two years ago I could hardly switch the computer on – today it is my life.
You don’t need any stock. Sell what people are already buying. For example anyone can sell Amazon products. There are millions of products you can sell.
Create your own product or service and sell it. Online E-books are very popular. Create a unique product that solves a problem or fills a need and sell it. Better still get thousand of affiliates to sell it on your behalf.
It’s on going. There is no retirement age. You can work till 106 if you want and chances are when you stop, whatever you already have out there will continue to earn you money.
Lifestyle and money. Would you believe me if I told you that you can make thousands a day – every day? You even earn money while you sleep. Once you have learned the techniques that work your income will grow exponentially. Would your life change if you were earning US$100.00 per day? How about $200.00 or even $500.00? Sounds crazy I know but people are making more than this every single day.
There you have it 7 reasons I believe the Internet is the way of the future.Which home based business to choose seems to me to be a pretty obvious choice. Choose a home based business that has growth potential, gives you flexibility a good lifestyle and a growing income.

Top Home Based Businesses – You Can Make Money From Fast and Easy

Do you want to know the top home based businesses that are helping ordinary people to make money from the comfort of their own home?The internet is full of many businesses promising to make you easy money from home, some of these programs are complete waste of time and your hard earned money. Indeed only very few people will truly show you the secrets to make lots of money online, only these top home based businesses will take you by the hand and show you the secrets to make a fortune from home. They will continue to lead you until you succeed just like they have done for others.These top home based businesses do not take your money and leave you in the cold, indeed a good number of them are free to join, and they will take you by the hand and show you the way to make money until you succeed. They will always be there for you to answer your questions and lead you to the right direction at all times.In order to succeed in your internet home business, you need a website and indeed any new comer in the internet business will eventually get a website, and as you know the internet business is exploding globally, it is growing rapidly every day. There is a legitimate web hosting company that has turned this necessity to profit machine for anybody who cares to join them. All you need to do is to host your website with them and anybody that joins through your link makes you money as long as they keep their website.This system is continuously producing thousands of dollars for affiliates monthly. Their products are of the highest quality in this industry and the technical support is excellent. Customer satisfaction is of the highest level so customers tend to stay for as many years as they are in business, more especially as they are also earning lots of money from their own links on a continuous basis as well.Another company in the top home based businesses league is a company, which has been in existence for many years and has produced many millionaires. It sells variety of items for everyday use as well as provides services worldwide. It is free to join, they have ongoing training to show you the way until you start making real money from the comfort of your own home. This company also has a program in place that enables you to earn residual income for life.There are also a few other ones you may consider joining. You choose which ones that suit you.In this group of top home based businesses is a company that will help you integrate all these other legitimate companies into your very own website so that you can earn multiple streams of income from home. Your website will be built for you ready within 48 hours and it is built for you free of charge. This makes it easy for you to start your own home based business and start earning money fast.In essence, you can make money fast and easy if you know the top home based businesses that have been tested and proven and still making ordinary people from all works of life money, you can view all of them in detail by clicking the link below.

The Intellectual Property Audit – Finding What You Have (Part V of V)

An Overview of How an Intellectual Property Audit Works
The first step in performing an intellectual property audit is to develop a plan for the audit. An audit committee (usually consisting of an intellectual property attorney, a representative from management, marketing, and technology or research and development) defines the areas of inquiry and establishes the time schedule which the audit will follow. They outline the responsibilities of each member of the audit team. They then define the preliminary documents for review and decide which members of the organization — present and past — to interview.The attorney develops an intellectual property database which contains, at a minimum, “…owner of the intellectual property asset, class of asset, the inventors or authors, when the asset was created or acquired, the asset’s status (e.g., pending or issued patent, registered copyright, trademarks, domain names), on-going maintenance issues (e.g., payment of maintenance fees for patents, collection or payment of licensing fees), and the expiration or renewal date of the asset.” This database enables the organization to determine exactly what its intellectual property assets are and also to determine the status of each asset.After the database has been developed, the attorney and the audit committee within the organization analyze the intellectual property and determine what action to take as to each piece of intellectual property. The committee and the attorney also identify mechanisms that the organization should use to identify and protect each new piece of intellectual property that the organization develops or otherwise acquires.The audit team then documents the audit results and presents them to the organization, with recommendations as to where, if at all, intellectual property protection is inappropriately thin and where, if at all, protection can be reduced.Benefits of an Intellectual Property Audit
An intellectual property audit benefits intellectual property buyers, owners and investors.Intellectual Property Owners
Intellectual property owners benefit from an intellectual property audit when they depend on that property as a component of the organization’s value (the greater the dependency, the greater the value of the intellectual property audit), when they license the property out, when there is a question that may involve litigation over the property, when they sell their stock or corporate assets, or when they engage in commerce involving the property.Intellectual Property Buyers
If an intellectual property buyer is acquiring the stock or assets of a company, she should insist that an intellectual property audit be performed to determine the scope and level of protection in place and needed to make the investment worthwhile. This buyer should look at any licensing or distribution rights that are already in place in the company, and those that the company may be contemplating putting in place. The buyer is interested in determining what protections are available for the property, whether the property is adequately protected against any potential third-party claims to ownership (such as if it was developed by consultants, whether the consultant has properly assigned the property to the organization), whether the property is security guaranteeing a debt, whether needed federal and state registrations are in place and properly maintained, and, if any part was licensed or purchased from third parties, what rights to the third-party intellectual property the organization has purchased.An intellectual property buyer may also be interested in simply acquiring rights to the intellectual property itself, without acquiring any part of the stock or assets of the organization that developed it. This buyer should look at what licenses exist already, whether trade secrets are available to increase the value of the property, whether any third party has any rights in the intellectual property that comprises any part of the property of interest, and, if so, what rights does the organization own, whether the property is in any way related to a government-sponsored activity.Intellectual Property Investors
An intellectual property investor should demand an intellectual property audit when they consider funding a start-up company or financing an existing business. Often, the intellectual property is the sole asset of a start-up company, and it often forms a major part of the value of an existing company. Due diligence requires that the investor ensure that the property is fully protected. Investors also would find the information gleaned through an audit to be useful in a debtor/creditor situation where the investor accepts an intangible asset as security on a loan.Conclusion
The intellectual property audit is a necessary and important management tool in today’s knowledge economy. Indeed, it is the only way to assess the true value of an organization, and it is the only way for an organization to maintain and grow its intangible assets. Gone are the days when the corporation was valued at the price of its real and personal property. Today, managers and investors need to have a good understanding of the intangible side of the business as well as the tangible side. The intellectual property audit is the way for them to get a grip on reality.This article was originally written for The Germeshausen Center Newsletter and published in the Winter 2003 edition. It was later expanded into its present form and appeared in Les Nouvelles, Vol. 38 No. 4 (December 2003) at page 193. That article has been updated for this presentation.Copyright 2003, 2007, Nancy Baum Delain. All rights reserved.

Personal Finance – Helps Make Financial Way

Personal finance is an efficient way of planning an investment to get maximum returns. With the help, you invest the sum on your children’s education, children’s future, cash flow, insurance, business succession debt consolidation etc. this financial assistance is obtained through a professional known as the financial planner. They can be an individual or an company and is generally employed by an organisation to handle your finance related issue.

This active financial process requires regular monitoring and reevaluation. Otherwise, you risk missing points of evaluation and this could damage your financial control. It is required to keep under control this circular process by repeated verifications and intelligent manipulation.

The thing which matters most in dealing for personal finance is your responsible credit record. It is measured through your credit. Seeing throughout your credit record, your lender understands your financial stability and repayment capability. However, if you are under pressure with your credit problem, still you have good chances of getting finance. There are plenty of loan providers available out there. These lenders are going in for competing one another fiercely to grow their lending businesses.

When you apply for personal finance, you are offered it in fixed and variable form. A fixed interest rate means that for the particular amount you borrowed, you are required to pay a definite amount of interest throughout the term. If your lender uses variable rate, then the rates differ every month and it depends upon the market condition. You may still be paying constant fees each month, but the amount deducted from the principal depends upon the prevailing interest rate on the market.

Managing finance is never easier than before. You can obtain personal finance through online and offline, while processing online is preferred. Online processing comes with varied lending options. It makes your loan processing simple and convenient.

The Top 5 Myths About Free Advertising

So in today’s tough economic environment it’s becoming increasingly popular for businesses to find ways to exploit free advertising and therefore increase customer enquiries into subsequent sales.

Naturally some business owners are skeptical of any service or online process whereby they can advertise for free – this is simply human nature and sayings like, ‘there’s no such thing as a free lunch’ reinforces this belief.

However, with the advent of the Internet and new ways that advertising companies can monetise their service, means that it’s not always the advertiser that has to pay for marketing. This is because businesses have something valuable to these advertising services – they have unique content about their products and services that when published generates unique visits.

So the Internet has given SME businesses new and unique ways to advertise their products and services for free (or at very little cost), compared to traditional marketing activities.

In this article I’m going to dispel the top myths of free advertising that will hopefully open your mind to the possibilities and opportunities for your business.

If you have any of your own advice or learning that you want to share then please leave a comment and let’s have a chat about it.


FALSE – however it does depend on the type of advertising exploited.

There is one golden word you must always keep in the front of your head (especially with the recent release of Google Panda) – ‘quality’. Yes always think quality advertising and only associate your business with marketing services that are trusted and respected on the Internet. So for example, never sign up to sites that promise you 1000s of backlinks in 24hrs, or pay for links from obvious spammy websites.

Instead, I recommend you do a bit of research to find the most reputable sites, for example, if you decide to list your company on online business directories then Google ‘business directories’ and check out what’s on page 1 and 2 then choose the best ones that offer a quality service. Why not choose these as a start and make sure you post as much unique and quality content on each one.


FALSE – if you think about it you can pay 1000s / $1000s on marketing and in most cases without any guarantee of a return (ROI – Return on Investment). TV marketing campaigns generally cost the most money, however, you can create and publish a video about your business for free on YouTube and also attach it to your profile on directories sites. Over time this can yield excellent results, especially when you create regular videos and attract subscribers / followers.

Using social sites like Twitter and Facebook can have a massive boost to your campaign and create brand trust / loyalty.


FALSE – most people think that online advertising services give very little content away for free, and you then have to upgrade to get the most from the service, e.g. to add more content about your business or pictures of your products.

Actually this is no longer the case as many of the top Internet sites now give a higher level of content away for free than ever before. This is because competition is so intense between online business directories.


FALSE – however, it’s true that advertising on top directories are a recommended form of online business marketing.

There are many other creative ways that you can advertise your business on the Internet. For example, why not get really creative and produce a spoof video based on your business sector and seed it on YouTube – then send links to it to all your business contacts. This is a great way to get your business and brand noticed for free, with the obvious potential of it going ‘viral’, for example, imagine it being featured on a TV programme like Rude Tube – amazing free advertising that would produce awesome results.


FALSE (in most cases) – your competitors are also looking for new and innovative cost effective solutions for their advertising campaign. They may already be utilising Internet opportunities like blogging, producing viral videos, helping others on forums, and advertising on business directories.

I suggest you put some time aside to really investigate your competitors strategy and try and find out what works well for them. For example, register on SEOmoz and you can then see the backlinks to their site. This will show you where people are clicking to their site from, e.g. forums and directory sites.

So knowledge is power and by understanding your competitors and seeing what works for them will influence your advertising campaign. However, a word of caution, this is only part of your strategy, i.e. you still need to put the effort in to find new and quality areas of the Internet to promote your business on.

IN SUMMARY – Top 10 Rules for Advertising Your Business on the Internet.

Only advertise on quality and trusted directories
Look for new and innovative ways to promote your business online, e.g. Twitter / Facebook
Produce your own business video and post on the Internet
Make sure your website reflects the quality of your brand and is regularly updated
Wherever you publish content about your business then keep access details so you can update it as your business changes
Make use of voucher sites and promote seasonal offers
Keep an eye on your competitors and emulate what works for them
Only target getting quality links back to your website from other sites within your sector or trusted business directories
Brag! Tell people all about your products and services on your own blog site and keep posting informative and well written articles
Lastly… think quality… quality… quality… !

The Finer Points of Internet Auctions


Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.


The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.


Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.


Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.


New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.