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Business
Auction Rules
Internet auctions are online bazaars. Some are the scenes of business-to-person
activity, where a Web site operator physically controls the merchandise for sale
and accepts payment for the goods. But most specialize in person-to-person
activity where individual sellers or small businesses auction their items
directly to consumers. In these auctions, the seller — not the site — has the
merchandise.
The person-to-person sites require sellers to register and obtain a "user
account name" (or "screen name") before they can place items for bid. Sellers
also must agree to pay a fee every time they conduct an auction.
Many sellers set a time limit on bidding and, in some cases, a "reserve price" —
the lowest price they will accept for an item. When the bidding closes at the
scheduled time, the highest bidder "wins." If no one bids at or above the
reserve price, the auction closes without a "winner."
At the end of a successful person-to-person auction, the buyer and seller
communicate — usually by email — to arrange for payment and delivery.
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