“Auction Websites
Auction websites are online shopping sites used for buying and selling of goods and services. In this paper two websites eBay.com and Quibids.com will be considered. Moreover from each site the paper will examine the bidding criteria based on an item of choice. The eBay.com website is amongst the most notable auction website offering broad categories of products including appliances equipment vehicles dcor and collectibles to furnishings among other products. On the other hand Quibids.com is a renowned auction website for penny auction. As far as the eBay auction website is concerned a brand of wrist watch for ladies-Xmas Gift D1W will be considered. On the other hand for Quibids.com a camera carrying case- Kata Ex-07 shall be considered.
Item 1
1) What type of auction format was used and what item did you choose to follow?
The first item was a wristwatch which was chosen from the eBay auction website. The auction format used was the auction-style listing.
2) Did the item sell at a higher or lower price for the winning bidder than similarly priced items on the site?
The wristwatch was sold at AU $ 5.50. Notably some items on the site were sold as expensive as AU $ 15.70 whereas others were sold as cheap as AU $ 2.99. Therefore the wristwatch was sold at a price between the most expensive and the cheapest items sold by the auction site.
3) What tools do you have available as a consumer to determine price/value?
As a consumer one should look at the item specifications provided on the site while determining the price and value of the item. In addition eBay provides the product page that is aligned with tools like the value box where product prices of all sellers are determined.
4) How much did the winning bidder pay?
The winning bidder paid AU $ 5.50 for the wristwatch.
5) How many bidders participated in the auction during the time you observed it did they change & could they use automated bidding if so could you tell it was being used?
There were five bidders who took part in the auction who placed 9 bids. Among the bidders there are those who used automated bidding. In this case the eBay company placed three automated bids.
6) What features does each website use to protect both the buyer & seller from fraud?
The issue of security is critical in online auctioning. In respect to the eBay auction site the eBay toolbar allows customers to download accounts guards to protect their accounts and passwords. In addition the toolbar has a feature that alerts customers on whether they are logged into the legitimate eBay website every time they visit the site. This helps customers to identify fake sites resembling the eBay site. Another powerful feature installed in eBay auction sites is the virtual feedback tool. This feature enables both online buyers and sellers in creating a centralized feedback system that is independent of the site. The virtual feedback site provides a platform for effective communication that allows users to rate each other appropriately. This enables potential buyers to make a firm decision before engaging in a bidding process (eBay Inc 2012).
Item 2
1) What type of auction format was used and what item did you choose to follow?
The second item was the Kata Ex-07 camera case which was selected from the Quibids auction website.
2) Did the item sell at a higher or lower price for the winning bidder than similarly priced items on the site?
The item was sold at $ 1.25. Notably other similar items sold by the auction site went for between $ 0.02 to $ 1.62. Thus the item was sold at a price between the most expensive and the cheapest ever sold.
3) What tools do you have available as a consumer to determine price/value?
As a consumer one needs to look at the features of the product to determine its value and worthiness. Additionally QuiBids provides the product page that is aligned with tools like the value box where product prices of all sellers are determined (QuiBids.com 2012).
4) How much did the winning bidder pay?
For this item the winning bidder paid $ 1.25 plus the $ 2.40 bids credit. Thus a total of $ 3.65 was paid for the item. The winner saved about 85% of the value price which was placed at $ 24.99.
5) How many bidders participated in the auction during the time you observed it did they change & could they use automated bidding if so could you tell it was being used?
Three bidders participated in the auction for this item. The three bidders often changed their bids as there was a total of 9 bids. In penny auctions automatic bidding does not exist. Penny auction does not give room where a bidder can set a maximum bid and await automation bidding until one is outbid.
6) What features does each website use to protect both the buyer & seller from fraud?
Just like the eBay websites Quibids websites are also prone to fraud. However fraud in this case is attributed to the website managers. Investigations carried regarding the Quibids.com have proved that the site has proper guidelines that evaluate the bidding process. This ensures that the users of the site are treated fairly where their needs fulfilled.”

  

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