THE POPULARITY AND MECHANICS OF ONLINE AUCTIONS

LIVE ONLINE AUCTIONS: Accessing the Best of Both Worlds DIGITAL BEGINNINGS With eBay effectively introducing online auctions to the mass market in 1995, more than 35 million U.S. adults, or 1/3 of the country's online population, had participated by the end of 2000. The benefits were self-evident: Buyers could find almost any product they were after at a flexible price while sellers instantly expanded their pool of potential customers at minimal overhead expense. Engagement gradually faded over the next decade, however, as the market bore fewer bargains and users grew frustrated with questionable bidding tactics and security practices. + 1995 2000 2005 2010 A MODERN MODEL A more secure and sustainable framework has emerged to pair the speed and scalability of online interaction with the structure of on-site meetings. Online live auction software allows interested buyers to simultaneously bid remotely from their home or office. CREATE AN ACCOUNT Name After creating an account and gaining approval from the auctioneer, online users are able to preview items up for sale and place absentee bids prior to auction day. E-mail Phone Address Submit LOT #32412564 Both initial bids and max bids can be filed Initial Bid ahead of auction, but the software is Max Bid programmed to win the lot at a lower price if possible as live bidding comes to a close. Submit Online users can also view the auction and/or participate in real-time against live bidders. CONGRATS! You've won auction # 3242 After the auction is closed, bidders will emaile receive an email invoice confirmation for any lots won and coordinate payment and pickup/delivery directly with the auctioneer. regard is goin The se in cont Preferred currency/payment method, buyer's premiums, applicable taxes and shipping costs are transparently described within the terms and conditions signed during initial auction registration. icollector.com If you can collect it, you can get it here! Sources: icollector.com/help.aspx?p=liveauctions nclnet.org/personal-finance/121-online-auctions/279-online-auctions-an-in-depth-look wired.com/magazine/2011/05/ff_endofauction/2/