Online auction vs traditional auction
Online marketing and e-commerce are two new divisions that all organizations are creating to jump on the Internet-based sales bandwagon. The B to B and B to C models have developed significantly in recent years and are rapidly replacing traditional modes of business transactions. Online auction is also one of the important channels that e-commerce has spawned.
You may have been to traditional auctions and bought things in the past. Now if you were planning to participate in electronic auctions online, you would need to understand how this works. Online auctions are different from traditional auctions. Unless you are aware of these differences, you will not be able to decide what is right for you.
In an online auction, one cannot view or see the merchandise unlike in the traditional auction. If you are buying high-priced collectibles, then this fact makes all the difference.
It is quite difficult for anyone to communicate with sellers in an online auction. Few sites offer online chat, but it is still inconvenient.
Online auctions have their advantages. The main advantage is that the seller does not have to secure or rent premises to hold the auction and invite buyers to attend.
In the case of an online auction, the seller saves many expenses in addition to paying for the room or place. He does not have to pay to take care of the people who attend the auction and can save expenses for lunch etc.
Online auction is advantageous for the seller in that he does not need to restrict participation to any particular location and can invite prospective buyers from anywhere in the world. This gives you access to a wider market.
People who are thoroughly familiar with the procedures and technicalities of online auctions are in a position to decide and participate in any of the auctions on a case-by-case basis.
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