What is are Online Auctions?
As our world becomes more virtual with the ongoing Covid-19 pandemic, the world of online auctioning is growing. Still, many people haven’t heard of the term.
In this three-part series we will look at what an online auction is, why you would want to use it and how they work?
So what is an online auction? An online auction takes place via the internet and allows users to sell or bid for products online. eBay is a familiar name to most and an industry leader in the world of online auctioning.
Online auctions allow sellers to reach a large audience unrestricted by location.. The type of buyers attracted to an online auction can vary widely. The virtual platform often attracts younger buyers, stay-at-home buyers and buyers who may be looking for only a few items. Many buyers are sustainably minded, attempting to keep usable items out of landfills.
Since the conception of eBay in 1995 the world of online auctioning has exploded. The recent lockdowns and in-person restrictions have only furthered their growth.
There are numerous platforms available for selling items online. They offer a variety of auction styles, access to buyers and ease of use.
Join us for parts 2 and 3 of the series where we will look at what online auctions can offer you as a buyer as well as what you can expect when you use an online auction site.