INTERNET AUCTION
What is Auction? Well, auction is a process of buying and selling things through bidding wherein the highest bidder acquires the item. As of now, the bygone era of auctioning in public seems to be long gone, especially after the advent of the Internet. Yes, the wonderful world of internet has taken over the process of auction in the true sense. Internet ! Internet ! It has really taken over our lives in all possible ways. We shall now see how it has seeped into the age old method of Auctioning.
Ok, here we go. One may wonder how auction could be conducted over the internet. These typical questions would circle our simple minds like, how will the Auctioneer reach his/her potential buyer? How on earth will the sold products be transported ? I would say, all these questions are just a CLICK away. Auctioneers just advertise their products in the desired website and the people who are interested in buying, start bidding in the site. Internet auction has turned out to be quite advantageous due to its following features:
As internet is a virtual world that never sleeps, it becomes easier for buyers and sellers to conduct their transactions at any time of the day.
Folks from all over the Map can participate in the auction and place their bid at any given hour due to absence of time constraints.
Keeping in mind the above written advantages, the number of bidders and sellers would be relatively high, contrary to what happens in a public auction. These bidders will be magnetized towards the online auction mainly for the large number of items the website offers. Most of the products displayed in the websites would be open for sale below wholesale rates, which can be otherwise unaffordable for us. Some notable examples of auction websites are:
www.ebay.com, www.ebid.com, www.trademe.com.et al. Among these, eBay is the website, which comes to everyone’s mind. Unarguably, this is the largest online auction website existing in this virtual world. One can find their wanted items literally from A to Z. You name it, you will get it over there. The Bidders who win the bidding race normally make the payment by credit car, debit card or cash on delivery.
If we reverse the first 3 words of auction, it spells as CAUTION. Yes, the word Caution flashes in your mind when you think about Online Auction. Who knows, we might be the unlucky guy buying the unlucky (defective) item. ? Above all these the most important question arises as to how and who will ascertain the authenticity of the product, which we had bid sitting at home? Normally one has to be very careful while bidding. First of all you should know what you are bidding and have a fair idea of the given product’s market value. Other than that, it is equally important to obtain all the information you can about the seller. To avoid fraud cases, a photograph of the item for sale would be very useful. Having personal contact with the seller is a must for any successful bidder.
Therefore . I would recommend that if you take care of all these requisites , you can surely go ahead and make payment for the desired item .Internet Auction has one too many advantages to ignore .