User:Emily Fraser

EMILY FRASER

Studying Bachelor of Mass Communication: majoring in Public Relations and Media and Communication

I like

1. punk and emo music
2. summer
3. the colour pink

When I am not at uni I am usually working or out with my friends.

[1]

Emily Fraser 11:49, 3 Aug 2004 (EST)

The topic I have chosen to research for my assignment is the popularity of online auctioning

Online Retail

[edit] Annotated Bibliography

Online Auctioning and the reasons behind its growing popularity

Dysart, J. (2003)"Place Your Bids" Grounds Maintenance, Vol.38, No.7, p.22. Retrieved 9 August 2004 from http://gateway.proquest.com. <http://proquest.umi.com.gateway.library.qut.edu.au/pqdweb?index=4&did=000000383471981&SrchMode=1&sid=1&Fmt=4&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1092355497&clientId=14394>

Dysart provides a punchy article packed full of evidence, case studies and statistics that beckon the reader to delve into the world of auctioning online. This feature article begins by providing real life examples of a variety of people who have had great success with auctioning a multitude of everyday products online. The article then follows on with some impressive statistics showing the extreme growth and profits of some of the most popular online auctioning sites, such as Ebay, have had in the last few years. Many benefits of auctioning online are listed, such as buyers feeling safer purchasing from online auctions as opposed to "real life" ones due to the fact the sellers previous track record is available on the site for everyone to view. This article was extremely relevant to the topic of online auctioning and it’s popularity as it provided some great primary sources, case studies of everyday people who have made large sums of money by auctioning household items online, and discussed and supported the many reasons why auctioning online was safer, quicker, easier and reaped more rewards for both buyer and seller than “real life� auctioning.

Dysart, J. (2004)"For the Initiated, Web Auctions Represent a Significant Oppurtunity" The Secured Lender, Vol.60, No.1, pp.68-71. Retrieved 1st August 2004 from http://gateway.proquest.com <http://proquest.umi.com.gateway.library.qut.edu.au/pqdweb?index=2&did=000000536121551&SrchMode=1&sid=1&Fmt=4&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1092355497&clientId=14394>

This article provided current, up-to-date information on the process of online auctioning and the benefits of taking part in one. Dysart has clearly researched the process of online auctioning and offers some useful explanations as to why it has become such a popular phenomenon. Many of the benefits of online auctioning that the author has listed support those listed in Lauder and Travers E-Commerce publication, heightening the reliability of both sources. Dysart has also taken the liberty of seeking advice and interviewing people with great experience and knowledge of online auctioning, such as Dennis L. Prince, who is the author of the Official Guide to Online Buying and Selling. Prince has offered some of his thoughts and theories as to why online auctioning has become so popular, icluding the idea that the online auctioning sites have so many millions of items that, quite often, buyers wil find "overlooked (and therefore underpriced) items".

Hamilton, T. (1997) "Online Auctioning Offers New Way of Doing Business" Computing Canada, Vol. 23, No. 17, p.41. Retrieved 9th August 2004 from http://gateway.proquest.com <http://proquest.umi.com.gateway.library.qut.edu.au/pqdweb?index=21&did=000000013649997&SrchMode=1&sid=1&Fmt=4&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1092355497&clientId=14394>

Although this article seems somewhat out of date in the rapidly evolving world of technology, as it was published in 1997, Hamilton’s article proved to be extremely useful in providing background information of the initial rise in popularity of online auctioning. Rather than explaining the benefits of Ebay and other sites that are great for the individual, this article documents the beginning of large business starting to utilise online auctioning. It provides an vast array of examples of the large American and Canadian companies who began the innovative process of auctioning goods online to “engage customers and stimulate buying�. It explains how one of the first companies to pick up the trend, Canadian Airlines, enabled it’s frequent flyer members to use their points to bid for travel goods and packages, such as car rental and accommodation, as well as flights. Many of the business leaders in these companies who initiated online auctioning also explain why having auction sites as part of their business is a huge advantage. One of the main reasons included bringing in more brand loyalty.

Lauden, K.C.,and Traver, C.G. (2003) E-Commerce: Business, Technology, Society Boston, USA: Addison Wesley, ISBN 0321127072

Lauden and Travers text devotes an entire chapter (Chatper 13) to the emergence and popularity of online auctioning. Beginning with a small explanation of online auctioning and how it differs from auctions in the “real world�, the chapter then progresses to highlighting and explaining the particular benefits of auctioning online, such as liquidity (where buyers and sellers now have a global market), price discovery, market efficiency and consumer aggregation.The chapter describes what online auctioning is and how it emerged from a community of people who wanted to buy sell and exchange items for which no market was readily available. The authors also explained how Ebay, the worlds largest online auctioning site, began as a place where people could trade Pez dispensers. Chapter 13 of this book was extremely relevant to exploring the popularity of online auctioning as it showed the appeal auctioning on the Web has over real life auctions, as well as describing the myriad of reasons why auctioning online is more beneficial than ordinary auctioning, or even retail shopping online.

Odenwald, D. (2002) "Moved to the Web, Auctions Save Airtime, Boost Net Returns" Current Publishing Comittee, Washington, D.C. Retrieved 9th August 2004 from http://www.current.org/funding/funding0218auctions.html

This website provided an individual case study of how some radio stations in America have previously used on air auctions to raise money, but have now switched to conducting these auctions online and being able to raise much more. Odenwald’s article explains the story of an American radio station that raised over half a million dollars in an on air auction. However, barely a tenth of this sum was left by the time expenses had been paid. The next time the station decided to hold an auction, they made sure it was an online one. This way, even though the station didn’t raise as much money, they ended up with more profit as they saved money and time and didn’t have to designate nearly as many staff to looking after the auction. This web article was extremely useful in highlighting the benefits of online auctioning, providing great evidence as to how they can save time and money for all parties involved.

Queensland University of Technology, School of International Business. (2004) Introduction to E-Business New South Wales, Australia: McGraw Hill, ISBN 7777772570

This book gave insight to some more reasons why the popularity of online auctioning is continuing to grow at such a rapid rate. It explains how auctions can be a great form of finding out just how much an item is really worth; by seeing how much others bid for similar items, it is easier for a seller to determine a reserve price for their item and set expectations for what that item should achieve. This book also states that online auctioning can be a great way of getting maximum price on your item, particularly if it is a rare one. This is due to the fact that, unlike “real life� auctions, where the seller has a limited market exposure, online auctioning is exposed to an entire global market, where demand for particular items may therefore increase dramatically.

Ross, D.F.(2003)Introduction to E-Supply Chain Management: Engaging Technology to Build Market Winning Business Partnerships, Florida, USA: St. Lucie Press, ISBN 1574443240

Chapter 7 of this text “Supplier Relationship Management: Integrating Supplies into the e-value chain�, contained a section dedicated to online auctions. In included a detailed account of the 5 different types of online auctions that could take place. These included the classical (or forward) auction, the reverse auction, the Dutch auction, the demand management auction, and the stock market model. The text then went on to explain which auction was best used in a number of different situations, such as when there are multiple sellers, multiple buyers, or when prices have extreme elasticity. It stated that the most common auction was still the classical model, however others, such as the Dutch auction, are enjoying rising popularity. This book was useful as it was the only one found to give a detailed, yet easy to understand, description of all the different auctions that one could find on the Internet. In later research this information could be useful in finding information about which type of auctions are the most popular in different parts of the world or in different industries.

Rudl, C. (2003)"Profiting from Online Auction Sites" Entrepeneur.com Inc, Retrieved 9th August 2004 from http://www.entrepeneur.com/article/print/0,2361,311268,00html

This web article was an exceptionally useful source as it was written by an expert in online auctioning, Corey Rudl. The author of the best selling book Insider Secrets to Marketing Your Business on the Internet, Rudl is an Internet marketing expert and the owner of his own successful Internet business. In this particular article he describes the typical process of an online auction and describes how the benefits of online auctioning make them so popular, such as the fact that there are no overhead or upfront costs, and no sales staff or distributors. The article also includes some supportive statistics monitoring the growth of online auctioning in the past few years.

Emily Fraser 10:01, 13 Aug 2004 (EST)