Selling at an auction is also called the “deadline method of sale” because of the established sales date and time. Using this method, you can get maximum profit from this powerful strategy.
As seller no need to risk on overprice and then constantly reduce price to stimulate your customers interest. and depends on type of market whether weak and strong they can keep their price standards.
Your auction product status and its value is determined by the market and individual buyers. At an auction, competitive bidding among potential buyers means that the selling price often exceeds the expected value of the property, maximizing the sale price for the seller.
With the Magento Auction Pro extension, sellers benefit as well as their customers
Benefits for sellers
A 99% successful closing rate, set terms and conditions of the sale
Auction accelerates the sale of your goods
Your products will be at true market value
Auctions create competitive environment among buyers
Auction price can raise the price of a product
Auction generates excitement and heightens buyer interest
Auction process requires action and a decision from buyers
Benefits for buyers
Your customers determine purchase price by competitive bidding.
Your customers feel better about purchase – they know that there was a contending bid just one increment under the purchase price.
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