摘要:Auctions are one of the oldest trading models. They have been widely used for price setting on special items, such as agricultural commodities, financial instruments, and unique items - like art and antiquities.
s’ needs and wants and they will go for it.
Another of the reasons for online auction success is that it enables to benefit electronic auctioneers ( Dave King et al. 2006, p.100 ). Online auctioning provides the higher repeat purchase for electronic auctioneers such as eBay ( Dave King et al. 2006, p.100 ). According to Jupiter Communication conducted a study in 1998 indicated that eBay tend to garner higher repeat – purchase rates than the Amazon.com ( Subramaniam 2000 ). eBay is the world's largest online auction site, is one of the well known websites ( Online Auctioning 2004 ).
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. In the process, seller must pays eBay a listing fee and, in case of a sale, a final value fee will pay by the sellers as well at the same time eBay can gain higher repeat purchase ( Dave King et al. 2006, p.100 ).
A further point is online auctioning can increase popularity in electronic auctioneers ( Dave King et al. 2006, p.100 ). eBay is the most popular online auctioning site, with its beginnings as a modest antique flea market trying to find a way to reach a gap in the exchange of antiques between different geographical locations ( Online Auctioning 2004 ).
Today it sells much more than antiques, from DVD players to sports memorabilia to clothes and accessories ( Online Auctioning 2004 ). Increasingly, eBay, also due to its increasing size has branched out to own separate eBay companies within most technologically advanced countries, allowing for the transfer of goods to be more convenient and easier to access ( Online Auctioning 2004 ).
With the ease of a computer and the internet to become widely available in recent years, online auctions have also become popular and more and more peoples are entering this market resulted impacts of the online auctions. The impacts include online auctions as a coordination mechanism, online auctions as a social mechanism to determine a price, online auctions as a highly visible distribution mechanism.
First of all, online auctions are used increasingly as an efficient coordination mechanism for establishing equilibrium in price. For example are auctions for the allocation of telecommunications bandwidth ( Dave King et al. 2006, p.98 ).
Moreover, online auctions as social mechanism to determine a price. Its creates a marketplace that attracts potential buyers by offering many of some special items at a single place and time in order to attract considerable attention ( Dave King et al. 2006, p.98 ). The special items include an item are unique or rare items, or for items that may be offered randomly or at long intervals ( Dave King et al. 2006, p.98 ).
In this case, online auctions provide the requisite exposure of purchase and sale orders, and hence liquidity of the market in which an optimal price can be determined ( Dave King et al. 2006, p.98 ). Typical examples are auctions of fine arts or rare items, as well as auctions of communications frequencies, web banners, and
advertising space ( Dave King et al. 2006, p.98 ).
Other than that, online
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