
	Auction Mavens.com	Auction Mavens - There are several variations on the basic auction form, including time limits, minimum or maximum limits on bid prices, and special rules for determining the winning bidder(s) and sale price(s). The word maven (also mavin ) means a trusted expert in a particular field, who seeks to pass knowledge on to others. The word maven "comes from the Yiddish, and it means one who accumulates knowledge.

Things About Online Auctions

For most people, online auctions have not been a strange concept. The online auction industry was born in 1995 with the founding of eBay, now the biggest auction-site in the world, with an 85% market share of the online auction sector. Albert (2002) presents several industry growth related numbers, of which the number of participants perhaps illuminates the situation best: 6.5 million participants was the projection in online auctions in 2000, which was exceeded with considerable margin (35 million participants).

But how to do auction? There are main four mechanisms: English auction ,first-price sealed-bid auction, descending-bid auction, the second-price. In the first-price sealed-bid auction each bidder submits a single bid, the people who provides the highest bid can get the object. The descending auction is operated in the opposite way: the auctioneer provides a very high price, and then lowers the price continuously. In the English auction , when there is the only one bidder remains, and that bidder wins the object at the final price.

What the supply side care about? The first mainly about the business models of the auctions, their pricing mechanisms, used technology and marketing efforts. The interviewers asked also about the perceptions of the online auctions and their profitability from each auctioneer.

And what the demand side care about? As a buyer, when you see this mark, you can be confident that you are transacting with an experienced eBay seller with a proven commitment to customer satisfaction. The university students were focus on courses, which towards to technically oriented students, however, many of the students choose information systems or ebusiness as their major subject.

Obviously, there were very few online purchases have been finished by the sample group. It is also noteworthy that 16 % of the respondents had bought items from online auctions and 2 % had sold something in them. It can be argued that despite the high degree of wired and wireless connectedness of the participants, very few of them had actually performed online buying and selling and even fewer on auctions.

By: kate001

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