The Top Five Online Auction Website - 2093 Words

According to Top Ten Reviews, in 2016 the top five online auction sites are eBay, eBid, Webstore, Online Auction and ePier. According to Baye, Price and Squalli, in an auction, potential buyers compete for the right to own a good, service, or, more generally, anything in value. Auctions are used to sell a variety of things, including art, Treasury bills, furniture, real estate, oil leases, corporations, electricity and numerous consumer goods at auction sites on the Internet. When the auctions take place, the seller interest is to ensure that they receive the highest price for their item. As for the buyer, the main interest is the ability to purchase an item at a lowest cost possible. eBay eBay Inc. is a global online auction†¦show more content†¦The fees that eBay could apply to you will depend of the type of seller you are, the number of items you are selling per month, type if items and the type of auction you choose to sell your items through. Per month eBay offers 50-item listing free of charge after which it charges 30 cents per any additional listing. Additional charges apply if you would like to make your listing standout with bold text, etc. Depending on the number of items that you would like to list on the monthly basis, e-Bay offers a special subscription fee for â€Å"store subscribers† with fees ranging from $20-200$ per month. Supposedly this provides a better offer to those with a big monthly number of listing. Once you sell your item through eBay, this is where the platform will make additional money. eBay will charge 10% of any item sold (including the final price the item was sold + shipping costs). So if you sold an item for $15 and your shipping costs come to $5, eBay will charge you 10% of the final cost $20, and would receive $2 of your sale. Selling Features Being the biggest online market place out there with over 100m users, Ebay provides all the selling features you can think of. Some of those features are: †¢ Submit items to search engines – eBay will submit your items to most popular search engines to help gain exposure †¢ Traffic report – eBay provides information on who your visitors are, time they spend on your page, what they