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Articles / Online Auctions Business Explained
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Online Auctions Business Explained |
| By: admin, November 25, 2004 |
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| Views: 745 |
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The online auction business model is one in which participants bid for products and services over the internet.
When one thinks of online auctions they typically think of eBay, the
largest online auction site. Like most auction companies, eBay does not
actually sell goods that it owns itself. It merely facilitates the
process of listing and displaying goods, bidding on items, and paying
for them. It acts as a marketplace for individuals and businesses that
use the site to auction off goods and services.
Several types of online auctions are possible. In an English auction
the initial price starts low and is bid up by successive bidders. In a
Dutch auction the price starts high and is reduced until someone buys
the item. eBay also offers fixed price listings.
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