The internet is world of its own, that knows no frontiers or nations. It is in effect a part of globalization as it touches the entire globe from China to the USA and Africa. Part of this globalization has resulted in an upsurge in global e-commerce. This is one factor that has to an extant united the earth.
On the net a plethora of sites are doing e-commerce by following a unique system of selling product by auctions. This involves a product being put for sale by means of an auction that can start from as low as $ 1. This adds thrill to a sale and the item is generally pocketed by the highest bidder. But keep in mind that most sites will have a reserve price which must be breached for the auction to go through. Many auction sites are available, but the following 3 are in my view the pick of them
a) E Bay. This is an America based site and was founded by Pierre Omindyar in 1995. Headquartered at San Jose , California, this a truly global site. In 2010 it posted revenue of $ 9.63 billion with an income of $ 2.05 billion. E Bay is a site that caters to all segments of goods fro clothing and apparel to electronics and utility items.
Th e site conducts on line auctions of most goods with localized services in 30 countries. It has catch phrases like ‘buy it, sell, it love it’ that have endeared this site to millions all over the globe. EBay has the advantage of selling and buying anything in the world, except for certain category of prohibited items. The best part is the EV bay also sells services and intangibles. An example is IBM which now sells its services in competing auctions for its goods.
EBay has a number of different types of auctions like a) fixed price format with best offer b) Fixed price Format and c) Auction style listings. For e bay biddings the minimum price is $ 1 and continues to rise and the item is bought by the highest bidder. Most items on auction are generally for a fixed time period. A membership of the site is easy and open to all and can be activated on the net itself.
b) Amazon.com. This site named after the Amazon River started of in 1998 as a book seller. It later transfixed itself into sales mostly in the fixed price category. But seeing the success of EBay it added auctions to its lists. Though the list of items available for auction on Amazon is not as exhaustive as eBay, yet you can sell or by through auctions a wide range of goods like art, antiques, coins, jewellery, collectables and a lot more. You can bid and sell on this site as well. In addition it has a daily featured section that shows cases the products for sale.
Amazon also has links to international auction sites as well. The success of Amazon auctions is there for all to see, though now there is a certain scaling down on its auction activities
c) Web Store.com. This is an online store that sells by auctions all items on the net. This site has one distinct advantage as it charges no fees for selling and buying. The site claims its fees are paid by the sponsors. The site has a significant presence in the USA and is ranked 2nd out of the internet auction sites.
The site is a boon for customers if you don’t mind the various Ads that dot the site. The site is without any hang-ups and the best part is that it is free. Perhaps this is the only site that does not charge any fees. The site has some built in advantages. It allows you to run your own auction store, where people can see all the products you are selling. As I mentioned no fees are charged and that is a big plus point.
On line auctions are catching up and are popular all over the world. But the numero uno remains EBay