So what is a local online dollar auction and how can it become your #1 method of earning money online?
If you're reading this, chances are you've come across my website on your search for a legitimate method of making money online or maybe even just a way to earn extra money each month to make ends meet.
This entire website is totally dedicated to talking all about how utilizing the dollar auction method has totally revolutionized my life and the lives of other moms who need to earn money and especially need the option to make money from home.
In this blog, I'm gonna walk you through:
✔️How a local online dollar auction works better than most platforms when it comes to online sales
✔️Why it's the best online income source for moms who need a job and want to make money from home
✔️And of course, show you how to set one up for yourself and earn money online through your own website.
But before we get started on that, it'll probably help if I explain a little bit more about how I even came across this business model and how it went from being a side gig to extra income and now is my #1 method of pulling in money online.
About four years ago, I was experiencing a divorce and deciding how me and my two boys were gonna move forward as a three pack.
Now I'm solely responsible for both of my boys. That means getting all of the school supplies, all of the school clothes, all of the Christmas presents, all of the food we eat, and everything in between.
I realized I needed to find a way to make ends meet that was flexible for my already hectic schedule, and I needed to find that way fast.
Believe me I tired everything to earn extra money, listened to all the online gurus and wanted all of the youtube videos.
From trying to sell stock photos, to taking online surveys, selling stuff online using Facebook marketplace, putting out an ad to tutor people online, freelance jobs, working with virtual assistants to complete administrative tasks, data entry, becoming a person to test websites and internet connection, content creation, short term rentals, exclusive content sales, t-shirts for sale from people who make cat videos....when I say everything...I mean everything.
That's when the idea of starting my own local online dollar auction sprang to life.
Local online dollar auctions are a concept I'd seen work well in other places, but just on a smaller scale. And so I wondered, could I use this method to get the necessities that me and my boys needed quickly?
So I launched my online dollar auction out of pure necessity with the simple idea that people would post items for a starting bid of $1 in an online Facebook group.
Now, initially, this was just about meeting my family's needs. I had no intention of turning this into a business. But soon I realized I wasn't the only person in this boat. My community was absolutely packed with people looking to declutter, looking to find great deals, and of course, looking to earn money.
And within just a few months, I had thousands of people buying and selling on a daily basis in my local online dollar auction group. What was interesting about that is most of them seemed to see this as a new concept. So it wasn't something they were familiar with, but they immediately recognized it as an opportunity for their benefit.
People were finding items at the prices they could afford from new and used clothes to home goods and even a used camper trailer and sellers were making profits that were changing their lives and showing them how to make money from home.
Earning money using my $1 auction methods site's terms became a local way to make money fast and make more money, more consistently than what people were experiencing on most platforms.
We even had one member be able to buy a house this year just off the money she made selling things in my dollar auction. She had been trying to make money online even just as extra cash for years and as soon as she found my $1 auction was able to develop her service to offer exclusive content and items to a following she gained from my group.
But this growth wasn't just in numbers. It was also in impact.
Parents were able to find the things they needed for their kids (used stuff and new).
People were finding financial freedom and our community was growing stronger together.
My $1 Auction became the part time job everyone needed but did not have time for. It became the least time consuming, low startup time option for earning extra money site where people where making more money in less than an hour based on quick bids than their bank account had seen in a while using other platforms.
I watched as people turned their clutter into cash and their hobbies into profitable online ventures. And that's when I realized this was more than just a way to make a quick buck. This was an actual business that I could run to support my family and help other people to be able to support their families all while making our community better. So how does a dollar auction work?
Well, think of it kind of like a digital yard sale where everyone's invited to buy, sell, and connect all from the comfort of their own homes.
And everything's done through a simple bidding system where everything starts at a minimum bid of $1. Whoever gets the winning bid at the end of the timeframe is the winner of the auction. The buyer and seller then agree on a time to meet and exchange both the product and the cash. At the end, The buyer gets a price they're happy with, which is generally always much cheaper than what they could have gotten it for at a retail store. And the seller gets to make cash on something that was more than likely just collecting dust around their house anyway.
But that's not all. One of the best parts about running your own local online dollar auction is that it generates multiple streams of income just by having the one group. Think of your $1 auction as your actual job rather than a volunteer service which is how most admins. run sale groups on Facebook.
Making money from home has never been easier. It will only take a few weeks to gain momentum with customers and a few hours a day to manage the service. You online local $1 auction will quickly go from operating as one of your side gigs that helps you make extra money to being your full time, legitimate ways to make money from home.
In fact, my own local dollar auction generates four additional streams of income right now without me having to do any extra work and It only takes me a couple of hours to manage the group in total on a daily basis........ but we'll talk more about that later.
First, let's take a deeper look on how a dollar auction actually works and how you can start building yours even if you have no business experience at all and no upfront fee to invest.
Establish Your Platform
The first step for getting started on establishing your local online dollar auction is setting up a platform.
In my case, that was a Facebook group. They're super accessible and very straightforward to manage.
This will be the place where your actual group is hosted on a daily basis and the place where all of your members will post, bid, and interact daily. Remember, you are creating a sales channel for local community members to buy and sell daily so you want something that is already within the realm of local social life.
Establish Rules
Once your group is all set up, you'll need to establish some basic rules, such as auction duration, payment methods accepted, and bidding increments. You'll want to make sure that transparency and trust are always at the forefront of your auction. This allows people to feel comfortable daily as well as do your marketing for you because they will begin to invite people they know, like, and trust to also participate. This is where you add the fine print, certain requirements and build based on local laws and platform rules and make sure you are building your service based on spotting trends within your community.
Starting the Auction
Now this is really where the fun begins.
Members are able to begin posting items they want to sell as well as bidding on items they want to buy.
Minimum opening bid is just $1. Items posted could really be anything from kids' toys to household goods to crafts or even things you sell in your small business. The key here is to make sure everybody realizes that they really only have to post a minimum opening bid of $1 and go up by dollar increments, which creates a ton of excitement and keeps people super engaged every day.
The Bidding Process
The next step is where members really start getting going on bidding. Bidding usually goes up in one or two dollar increments, but if somebody really wants something, they're welcome to bid as much as they would like as long as it's in a whole dollar increment.
You also want to make sure that you establish an end time for the auctions so that people are able to keep things moving. In my auction, that's a 48 hour time limit.
You see, you aren't the only one seeking legitimate ways to make money from home, your sellers are also looking for their first payout from their opportunity to work remotely so really, your platform is a make money from home platform for your entire community to make money fast.
The Exchange Process
And at the end of the auction, after a winner is announced, it's time to exchange the item for the cash. In my auction, people generally use porch pickup to keep things easy, accessible, and moving forward.
Now that's the beauty of a local online dollar auction. It basically works like eBay, but you get to completely bypass things like fees, expensive shipping costs, and items not selling for a long period of time. And it sure beats being an online tutor, trying to make advertising revenue from selling google adsense, data entry, taking surveys, trying to build a twitch channel following or any of the other ways we discussed previously to make money from home.
Community Engagement
Now, another one of the most beautiful parts of your dollar auction is the community.
This isn't just a place to buy and sell products. Members really get to know each other and often help each other out by offering items they know someone else will need. They also spend a lot of time supporting local businesses and crafters. You could kind of think about it like your local flea market, except without the hassle of walking up and down aisles or digging through a bunch of piles of stuff.
And remember, the startup time to earn extra income from this job is only about two weeks. Just think about that......just two weeks and you will be up and running with your own website and official $1 auction group ready to make money from home.
Additional Income Streams
Now, the last and most incredible benefit of setting up your own local online dollar auction is the additional income streams. Apart from the auction itself, you can establish membership tiers for group members who want more out of the group, like featured posts or an opportunity to sell more items at a time.
In fact, I make over $2,000 a month just in membership fees alone, which means I didn't have to sell anything that month to make that profit. Additionally local businesses are going to begin to see your group as a great place to connect with committed buyers and so they're going to want to advertise in your group which gives you the opportunity to establish sponsorship fees and advertisement fees specifically for local businesses.
In essence, a dollar auction is more than just an auction, it's a community hub, a place for great deals and a place to establish financial empowerment through the opportunity to make money from home.
It's completely changed my life as well as the lives of people who participate in my dollar auction and others I've helped in other communities to set their dollar auctions up.
Now you're probably thinking, Mack, this sounds awesome and everything, but just how much time is this gonna take me?
And of course, how much money do I have to have to get going?
So the beauty is, you can set a local online dollar auction up free on Facebook and it only takes a couple hours a day to manage well. Thats a super low startup time to make money from home on an ongoing basis.
The best part is, Once your membership starts to grow, you can even hire a virtual assistant to manage the day to day, making this a true passive income stream for you. So thats a quick startup time, money from home and legitimate ways to make money online with true passive income.
To this day, I'm still making passive income running my own local dollar auction. And the best thing is this all started out of necessity and a passion project for myself. And I'm now able to help other moms do exactly the same thing.
Now there are a few more important parts to running a successful local online dollar auction.
First, you need to find an effective way to attract members daily to join your group. Members are the absolute lifeblood of the dollar auction community you're creating. So you need to find an attractive method to bring them in and keep them happy while they're there.
If you want an in-depth step-by-step guide on how to get started on creating your own local online dollar auction and and making anywhere from $1000- $3,000 a month in passive income as a mom, check out the full tutorial I made here where I show you exactly how to do that.