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Also they were telling you how much they wanted to pay by the
amounts of their bid. So, he looked at this and said, "Wait a
minute. Imagine if I were a retailer. Imagine if someone walked
into my store where I was and, when they walked in, I instantly
knew what they wanted, I knew how badly they wanted it, I knew
what they wanted to pay for it, and I knew that they were ready
to buy now. Imagine what a great selling situation that would
be."
It wouldn't take much of a salesman to close a purchase in that
circumstance. So he looked at that and said, "I don't like to
sell, so how can I turn this entire situation into an advantage
for me?"
He also noticed another big advantage. There were more losers
than winners at an auction. He said, "I've got all this pool of
losers, how can I make a profit from them?"
It was an interesting analysis. He decided he would try to sell
to the losers. He would specialize in an area of Internet auctions
- a particular topic area - and he would work on a way to make
money off of the losing bidders in that situation.
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