Why Online Auctions?

Auctions have been taking place since around the early fifth part century - this practice has continued into modern times and, in recent years, has been adapted to the internet to become what is known as online auctioning.

This concept has taken the online world by storm - by 2006 online auctions are expected to gene footstep an estimated $48.5 billion in sales (Guerrilla Retail, 2003). The industry is growing at a remarkable rate and provides consumers and line of merchandisees with new and advanced ways to buy and sell cloud or highly specialised products which were previously inaccessible through with(predicate) traditional marketing methods.

Online auctioning is used in a compartmentalisation of business relationships, more traditionally in the consumer to consumer (C2C) and business to consumer (B2C) markets. to a greater extent recently, this area has expanded to include B2B, or business to business - a highly lucrative sector of the market. These relationships are discussed ulterior in this document.

In the context of online auctions, the word seller does not needs refer to an individual - these terms encompass a full range of participants ranging from large multi-national corporations to SMEs (small-medium enterprises) right through to a private person selling home-made goods from their own residence. Likewise, a buyer buttocks be any of the above entities.

As with any new and innovative concept, there are pros and cons that need to be considered by both buyers and sellers before participating in online auctions. Although convenient, there is an element of seek involved in participating in such auctions. This prove discusses and evaluates the positive and negative aspects of online auctioning for consumers and businesses alike with a view to say the question - why online auctions?

There are a number of different types of online auctions - the most common of these is the english auction as...

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