We all know auctions, which have a history of about 1000 years. Nowadays, internet auctions are more and more popular. Internet auctions are held electronically on internet websites. An auction host, such as the Glasses Auction, provides the Web space and individuals “rent” a piece of that space to auction their merchandise. It’s a lot easier to conduct than traditional ones, with more efficiency. With the convenience of the internet, more and more people join in auctions, and “enjoy” the duration of an auction.
For example, suppose you want to buy a set of rare short-sighted glasses. You find it listed on Glasses Auction, at a starting price of only $1. Wow! What a bargain! You’ve seen the same shortsighted glasses sold for more than $50. However, the starting price is just a beginning of the auction. Once the glasses are online, it is seen by millions of Glasses Auction shoppers. Since you are looking for the glass, you open the bidding placing a bid for $1. Another collector sees the glasses, wants it, and bids $2 dollars.
A third of collectors sees the glasses and really wants it. He bids $10. Now you find that you have been outbid, so you raise your bid to $12. Soon, you have a bidding war going on! The bidding continues for the duration of the auction—usually 7 days. In the last hour the bids quickly goes from $18 to$24, to$32 to $39. Just before time runs out, you make a final bid of $48! The auction ends and you have won! You are the highest bidder. Now you and the seller must contact each other by e-mail, arrange payment and shipping terms, and accomplish the traction.
Once the seller receives the payment, she ships the merchandise to the buyer and the transaction is completed. Glasses Auction sends the seller a bill by e-mail for hosting the auction. There are additional fees collected by Glasses Auction.
In the past, you may thought an auction seller would only be those professionals and an auction is too troublesome, while nowadays the internet provides you a great convenience too sell your treasures in a simple way. Whether you are a business man or not you can be a seller or even an auctioneer, so nowadays more and more people like to auction off things through internet.
Then, in an internet auction you are a buyer, a seller, or an auctioneer?