1. Advantages of online bidding
Online auctions are easy to participate by both sellers and bidders because of the instant online
connection. Everyone can view the products or services in detail and have the ability to bid and
purchase with convenience. If you are looking for an online auction website within your local market,
consider partnering with a local media company to have a more targeted audience within your
geographic market. Buyers and sellers should keep in mind that the company holding the auction does
not own the product or service featured on the auction site but rather it helps to promote and provide
both end users a rewarding experience for purchasing the item or service.
Many of the advantages listed can also be found in other procurement processes.
1. On-line tendering is a method of standardizing the procurement process
2. Preferred bidders are all contained within a single database
3. Bidders can be monitored
4. If you are selling more than one item on the site, you can add a link for visitors to view the other
items for sale.
5. Easy comparison of bids
6. Confidence in validity and integrity of contractual documentation
7. Time benefits: reduction in paperwork, postage, photocopying
8. Ease and speed of communication to multiple bidders
9. 10. Secure bidding environment
10. Good control of bidders’ submissions
11. Better efficiency in the process
12. Potential for access to competitors’ bids
13. The ability to submit more than one bid
14. Merchandise has exposure to the traffic of the online auction site.
15. If an item is popular, bidders can push the price up beyond its starting price.
16. Audit trail for documentation
17. You can add multiple photos with different views.
2. 18. You can add detailed decriptions and shipping information.
19. Some sites offer promotions with no listing fees or other specials for limited time.
20. The ability for potential customers to review feedback left from buyers or ellers.
Items for auction can be posted night or day, and bids can be placed on any item any time of the day.
More so, since items are usually listed for up to ten days, bidders are given a lot of time to make their
bidding decisions carefully.What makes auction shopping more attractive than traditional main street
shopping is that the Web has no zero time constraints. Auction sites do not close after store hours; they
are open 24 hours a day, 7 days a week.
