Developing an appropriate auction strategy should be an important part of your business and marketing planning. Your goal with any sales effort should always be to realize the greatest return possible on your investment in time and money.
Your plans and strategies need to be flexible, and will change over time to reflect market conditions, your situation, competition, product availability, you should begin with a clear understanding of where you wish to go, how to get there, and the items that may affect your decisions along the way.
Selecting the correct type of auction for your strategies should be based on the type product you wish to sell (commodity or specialty product), how many units you have to sell, who your bidders are , and rules or regulations that can limit bidding activity or be used to your advantage. Always keep in mind that bidder behavior will differ depending on the rules of the type auction you select.