Online Auction

For the seller, the number of customers that now have access to their inventory has grown exponentially. By setting up a website, anyone from the around the world can shop with

EBay has paved the wave in this industry and being in a billion dollar industry making things happen to benefit consumers in many ways.[5]

Dembosky, A. (2012). Ebay moves beyond its dotcom roots. Available:http://www.ft.com/cms/s/0/df3723ca-1773-11e2-8cbe-00144feabdc0.html#axzz2EbzDqb5Y. Last accessed 10th Dec 2012

eBay has a choice preferred standpoint. Regularly contributed similar to the world 's greatest store, and have a bigger number of things available to be purchased than anyplace else. However its maintainability props on patch up unstable ground as omnichannel world envision, for arranging purposes, that everything is available to be purchased in each commercial center, each methods, and each channel. Partaking connected shoppers may never get to that world, yet it 's a helpful arranging presumption.

We only have access to or collect information that you voluntarily give us. When you register to this website we ask you to provide certain personal information, including a valid email address, location and username. We may collect additional

All the buyer agents can start bidding on each product with quote and the number of quantity it is willing to buy as bids $\left\{ { (bid_{ 1 },q_{ 1 }) }_{ 1 }^{ 1 },\quad { (bid_{ 1 },q_{ 1 }) }_{ 1 }^{ 2 }\quad { (bid_{ 1 },q_{ 1 }) }_{ 1 }^{ 3 }.......{ (bid_{ 1 },q_{ 1 }) }_{ 1 }^{ n } \right\} $

This means that the site is sure to receive your messages, regarding any questions, or issues you may have.

There are many auction sites in the market thus you need to search so as to determine the best, you can have a list of these sites and rate them according to your own understanding and services offered. You however you need to determine your options before making any move.

Ingram Micro estimates that the auction prices it receives on the auction site averages about 60 percent of the items’ costs.

Goodwill Industries make sales online. They have created online bidding sites that require bidders to register online in order to browse, place bid and be able to buy any item that is available for sale. This site normally notify bidders whenever they are outbid on an item and

Information finds signals when trends in data change and help seller act on those real-time signals to create market opportunities. Making recommendations on what the next in demand ebay collectable will be can be highly profitable for sellers. The most important factor for ebay is the speed at which data can be analyzed and recommendations can be made signal a trend before it is over. Ebay estimates that 1,000 new bidders access the online auction site every day, which means 1,000 new opportunities for sellers to market their products. It becomes increasingly important for sellers to get demand forecasts for their products so that opportunities are not missed. This kind of real-time data sets ebay apart from their competition in the online auction

Alipay’s core service is an escrow service which solves the concerns related to settlement risk between buyer and seller. In this system, after a buyer commits himself/herself to an online transaction, his/her payment is held in an Alipay account until he receives the product ordered. After the product is received the buyer notifies Alipay and the payment is then forwarded on to the seller. As of December 2006, Alipay had 33 million registered users. (Source: “Alipay - 33 Million Registered Users,” www.imnewswatch.com, February 5, 2007) PayPal was a leading online payment company purchased by eBay in mid-2002. In June 2007, PayPal had 143 million user accounts across the world. Through PayPal, individuals and businesses could send or receive money over the Internet. PayPal supported payments in US Dollars, Canadian Dollars, Australian Dollars, Euros, Pounds Sterling, and Japanese Yen. Buyers could also pay for their online purchases on various e-commerce websites and auction sites like eBay using the balance in their PayPal account. Though this mode of transaction was quick, there were also a number of complaints from disgruntled PayPal users. Most of the complaints were related to the dispute resolution procedures of PayPal. In eBay China, transaction fees used to be charged as a percentage of the value of completed sales. This ranged from RMB 10 for a sale worth RMB 500 to RMB 115 for one worth RMB 20,000 (Source: “EBay China

First use of reverse auctions assisted by Laura Henning, business consultant for Bothe US operations

This is where bidders submit simultaneous sealed bids to the venders; the highest bidder receives the item and pays the worth of the second-highest bid. (Easley and Kleinberg, 2016)

The company eBay Inc. is an American multinational Internet consumer-to-consumer corporation. Founded in 1995 by Pierre Omidyar in San Jose, California, it is now a multi-billion dollar business with operations localized in over thirty countries including China and India. It’s main enterprise is eBay.com, an online auction and shopping website that allows people and businesses to buy and sell a broad variety of goods and services internationally. Millions of collectibles, décor, appliances, computers, furnishings, equipment, domain names, vehicles, services, intangibles and other miscellaneous items are listed, bought, or sold daily on eBay. Anything can be auctioned on the site as long as it is not illegal and does not violate the eBay’s Prohibited and Restricted Items policy.