Wednesday, August 10, 2005

Auctions Online

Tonight we discussed the different locations and types of auctions that are available on the web. As I mentioned in one of my earlier Blogs I haven’t really purchased much on the web & I am a light user of E-bay. So I found it interesting that there were these other types of auctions available such as the Dutch auction (Where the auctioneer starts at a high # and then reduce the bid price until someone takes the item).

With this new information I have decided to do a little test myself to see which of the big auction sites that I am aware of carry the items that I would be interested in. I decided to search E-Bay, Amazon & Yahoo, for a Kasey Kahne items. Here are my results.

As I expected from the comments in class, E-Bay was the giant. I found 1,131 items listed, but what surprised me most was how little the other two auction sites had. Yahoo auctions only had 21 items and Amazon had 22 items. So my little study really did show how lopsided the market place for online auctions is. From what I could tell I couldn’t find any multiple item auctions or Second Price auctions but that could be due to the items that I was searching for.

Another thing I found interesting is the different tactics used when buying & selling items on these web sites. I have always been aware of E-Bay Sniping. When a potential buyer waits until the last minute and then places his/her bid. But what I found interesting was the statistics in class that show you really don’t save that much money by sniping i.e. $.50 or so. So I guess I don’t know why people still do this other then the fact that they think they are getting a good deal I guess. Another thing I found interesting was the Sellers have tactics as well. Some are illegal such as “Shilling” (when one bids on their own items to raise the price). Another tactics is one of extending their auction so that when the Sniping occurs they give others a chance to re-bid on your items. I shouldn’t be surprised with these facts as the seller wants to maximize their profits where the buyers want to minimize their cost. I guess that is the result of our free economy.

One thing I will say is since I am doing the study on the items we are selling on e-bay, I will also study the bidding practices that I see on these items hopefully I will be able to see some of these tactics take place. I guess my little study that I started last week is going to be a little bigger then I originally thought.

6 Comments:

Blogger Nosey said...

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10:16 AM  
Blogger Good Stuff said...

Hi Kyle K, Out surfing for information on auction tutorial & happened upon your site. While Auctions Online wasn't exactly spot on, it did strike a note with me. Thank you for the really good read.

5:00 PM  
Blogger research guy said...

Hi there Kyle K, I had been out looking for some new information on ebay auctions when I found your site and Auctions Online. Though not just what I was searching for, it drew my attention. An interesting post and I thank you for it.

10:43 AM  
Blogger Good Stuff said...

Hello Kyle K, been looking for the latest info on auctions and found Auctions Online. Though not exactly what I was searching for, it did get my attention. Interesting post, thanks for a great read.

2:54 AM  
Blogger B123 said...

Good day. As my search for http://www.freeadultmoviearchive.com/freeadultmovies.html starts off I have ended up here. Although your info is somewhat interesting and similar. Definately not what I was looking for on free adult movies.

6:16 PM  

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