Online Auction Platform Service
Operate online auction platform using HiBid, Proxibid, or custom software
Overview
Online auction operators charge 10-20% buyer's premium plus 5-15% seller commission.
Conducting 4-12 online auctions monthly generates $120,000-$700,000 annually with 70-85% margins.
In 2025, online auctions expand reach beyond local bidders.
Services include online auction platform management (HiBid, Proxibid, AuctionNinja), item photography and description, payment processing, shipping coordination, and hybrid live/online auctions.
Successful online auctioneers photograph items professionally, write detailed descriptions, market to online bidders, provide excellent customer service, handle shipping logistics, and combine online with live auctions.
Online bidding adds 30-100% more bidders versus live-only.
Can run online-only or hybrid auctions.
Marketing through auction listing sites, email lists, social media, and paid advertising.
Required Skills
- Online Auction Software
- Photography
- Item Description
- Marketing
- Customer Service
- Logistics
Pros and Cons
Pros
- Reach bidders nationwide/worldwide
- Lower overhead than physical auction house
- Can run auctions 24/7
- Bidders prefer online convenience
- Hybrid auctions maximize participation
Cons
- Photography and listing time-intensive
- Shipping logistics complex
- Platform fees (HiBid, Proxibid)
- Payment processing and fraud risk
- Customer service for remote bidders
How to Get Started
- Choose online auction platform (HiBid, Proxibid, etc.)
- Learn photography and item description
- Set up payment processing
- Develop shipping and logistics
- Build online bidder database
- Market auctions through digital channels
- Provide excellent customer service
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