| Online auction sites prove to be very much | | | | better for the buyer. The seller then has to give a |
| advantageous for those people who are looking for | | | | description of the item(s) he wants to sell. For |
| reasonably priced goods on the internet. Online | | | | example if he wants to sell a DVD player then he will |
| auction sites like eBay have literally thousands of | | | | mention the manufacturer, the year of make, the |
| products on display on their websites to buy and sell. | | | | model number, and any other special features of the |
| Online auction sites act like a middleman or an | | | | DVD player. Next, he will have to post a minimum |
| intermediary between buyers and sellers of goods. | | | | price at which he wants to sell his DVD player. |
| They charge a small commission amount whenever | | | | A buyer will visit the category of the product that he |
| an item is bought or sold by the buyer and the seller | | | | wants to purchase. He will be able to view the details |
| respectively. Online auction sites prove to be | | | | of the product that he wants to purchase. If he is |
| beneficial for both parties as the seller can post his | | | | interested in the product, he will place a bid. There |
| item on the site and also get a good price by selling | | | | maybe many potential buyers who place bids on a |
| the article to a much bigger audience than he has in | | | | particular product. There is a last date and time which |
| his home town. Also the buyer can get a good deal | | | | the bids are placed. On the last date, the buyer with |
| on the product that he buys as the product is | | | | the highest bid gets to purchase the product. The |
| offered at lesser, more competitive prices. | | | | buyer can pay the seller through credit card or |
| As we have seen over the last few years, online | | | | international check or even ebay's own PayPal. The |
| auctions have proven to be a boon for global buyers | | | | seller will ship the product to the buyer and the |
| and sellers. It is not necessary for the buyers and | | | | auction company and payment company takes their |
| the sellers to be in the same city or even in the | | | | commission. This is normally how an online auction |
| same country. A person in Australia can sell an item | | | | works. |
| to a person in England or vice versa. An online auction | | | | Though online auction sites are a great way to buy |
| site breaks all the barriers of a traditional market | | | | and sell goods they come with their own risks. An |
| place where a buyer and a seller had to meet | | | | online auction site is just an intermediary between |
| personally. | | | | the buyer and the seller. It does not hold itself |
| All that a buyer or a seller has to is register on an | | | | responsible for any disputes between the buyer and |
| online auction site like eBay. Registration is normally | | | | the seller. The buyer should normally pay through |
| free. The seller has to put up a display and | | | | credit card as it offers additional protection in case of |
| description of the item that he wants to sell. For | | | | a dispute. Also, both the parties should keep all |
| example if he wants to sell his year old dvd player | | | | important documents of correspondence printed and |
| then he has to place the item under the category of | | | | kept in a safe place unless the transaction is |
| electronics which maybe further categorized into | | | | completed. Many auction sites do have programs to |
| DVD players, etc. If the seller can post an image of | | | | identify those buyers and sellers with integrity and to |
| the product, then it would be easier to sell and it is | | | | eliminate those who do not. |