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INTRODUCTION

AUCTIONS

Auctions are a good way to sell a commodity that doesn’t have a fixed or determined value – i.e. when the seller is unsure of the price that can be achieved (As the goods are of undetermined quality).
So the on-line auction can simply be a process of putting buyers and sellers in touch with each other, with the seller then transporting the goods to the successful bidder, and the bidder making payment. Usually Auction sites act as forums through which internet users can log-on and assume the role of either bidder or sellers. As sellers, you are able to post items you wish to sell, the minimum price that you require to sell an item and a deadline to close the auction. Some sites allow you to add features, such as a photograph or a description of the item’s condition. As a bidder, you may search the site for availability of the item you are seeking, view the current bidding activity and place a bid (bids are usually in designated increments). Some sites allow you to submit a maximum bidding price and will continue bidding for you.

Although auction sites usually require a commissions on sales, these sites are only

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