Web-based auction sites act like a medium connecting buyers and sellers of different products ion the market
. There in a minimal commission charged by the auction sites from the buyers and sellers. This is eventually added to the profit often website.
Sellers have the advantage of putting up there product on sale to a larger audience as compare to garage sale. As the crowd is big you can get profits as you desire.
Here there are international buyers and sellers on the internet so you can get desired profits. Buying from a larger market saves the businesses enough to set up a profit margin.
Even if online auction is based in LA it can reach out the customers living in Asia or vise a versa. There is no barrier what so ever between the buyers and the sellers.
All that a seller has to do is signup on an online auction that they can trust on. The registration or sign up is absolutely free. All the seller has to do is get a descriptive picture and details description uploaded on the site.
Customers look around in the market, search for the best prices in the market and also inquire what the quality of the product is. Then they decide where they would want to buy the item from. If the description is not enough the buyer would move on to some other site. If they find it attractive they would defiantly stop by and bid on the product at auction.
A customer will stop by the category of the item that he wishes to acquire and will read the specifics of the product he desires to buy. If interested in the product, theyre going to place a bid.
The bidders get a time of ten days to think and decide if they want to close a deal at the price being offered or not. Transactions are made by PayPal or credit cards. When the bidding date ends, person bidding the highest wins the deal. Commission is paid to the bidding web site and company working as a payment medium.
Online Auction sites bridge up the gap between the buyers and sellers thus every point of conflict is solved by the auction website.