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Online Auction Sites… The Wave of the Future or Just a Fad?

28 Feb

Are online auctions worth the deals?

Are online auctions worth the deals?

An online auction is an auction which is held over the internet. Online auctions come in many different formats and have become increasingly popular mainly because online auctions break down and remove the physical limitations of traditional auctions such as geography, presence, time, space, and a small target audience.

The economy also has allowed for the popularity of online auctions due to consumers’ desire to find great prices and bargain items that are of value. As retail outlets compete for customers, online auctions put the consumers in control by naming their own price.

Sites such as eBay, QuiBids, and newly formed, online auction sites are becoming increasingly popular. However, will the online auction craze go away? Is online auctioning just a fad, or will it become the “new normal” form of retail?