In 2004, Online auctioning is an extremely popular way to buy and sell just about anything, from cosmetics to collectors items and even boats and cars. Ebay[1] is the most popular online auctioning site on Earth, where there are more than 12 million items in over 18,000 catergories listed on any given day (Pursglove in Dysart;2004;p.68). By 2001, Ebay ruled 90% of the online auctioning market and had approximately 40 million registered users (Auctionsellersresource.com, 2004). One of the main reasons for the popularity of Online Auctioning is of course the larger available market. Due to the rapid increase in ownership and access to computers and the Internet in the past few years, the online auctioning market has reached a global level, which is clearly much larger than the few hundred maximum that would be reached at a real life auction.
Online auctions are also very popular because they offer lower transaction costs than “real life� auctions and offer a bigger market for rare and collectable items that may not be available in one region, but can be bought through online auctions and shipped almost anywhere in the world.
Ebay has become so popular that many other businesses have realised that there is a market for making money out of the new online auctioning novelty. A store known as the DropShop now provides the expertise sellers need to get maximum profit from their items. For a fee, the team at DropShop photograph the item, market the item on ebay, respond to any emails and consumer requests as well as package the item appealingly once it has been sold.
REFERENCES:
Auction-sellers-resource.com, 2004.The Auction Seller's Resource: The Website for Proffesional Auction SellersRetrieved from http://www.auction-sellers-resource.com/products/retailebay.shtml (Accessed 27th October 2004).
Dysart, J. 2004 For the Initiated, Web Auctions Represent a Significant Oppurtunity 'The Scured Lender', Jan/Feb 2004. Vol. 60, Issue 1, p.68 Retrieved from PROQUEST (4th August 2004).
Haeberie, M. 2004 Ebay Simplified 'Chain Store Age'. May 2004, Vol. 80, Issue 5 pp.118-199 Retrieved from PROQUEST
Lauden, K.C., and Traver, C.G. 2003 E- Commerce: Business, Technology, Society Addison Wesley: Boston, U.S.A.
Emily Fraser 09:28, 28 Oct 2004 (EST)
