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ONLINE AUCTION MARKET.   Term Paper ID:28810 Click to get this paper

Essay Subject: Analyzes 4 web sites. Target audiences. Secutiry. Fraud protection. Long-term outlook.... More...

4 Pages / 900 Words 5 sources, 4 Citations, APA Format $16.00 Return to List of Papers

Paper Abstract: Analyzes 4 web sites. Target audiences. Secutiry. Fraud protection. Long-term outlook. Paper Introduction: Online Auction Comparison Introduction Many observers feel that the concept of the online auction is the trend of the future and that this will portend the way that shopping will be done in the future. According to an Oct. 23, 2000 survey, the online auction market will be worth 6.5 billion dollars by the end of the year, up from 650 million dollars in 1998. Part of the survey states “eMarketer predicts that revenue from online auctions will reach USD16.3 billion by 2004. As a percentage of total b2c sales, the online auction market is expected to peak this year at 17.6 percent, falling to 13 percent in 2004” (“Online...” 2000 Online). To determine the efficacy of this method of commerce, four web site auctions were selected -- E-Bay, Amazon, Live Auctions and Bullnet, a U.K.-based auction site. Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. To determine the efficacy of this method ofcommerce, four web site auctions were selected -- E-Bay, Amazon, LiveAuctions and Bullnet, a U.K.-based auction site. This discussion will be divided into thesesections: A) target audiences, B) User Friendliness, C) Security, D) FraudProtection, and E) Probability of Long Term Success. Security With minor variations, the model for an Internet auction consists of atime element (usually 3 to 12 days) from the placement of an advertisement,based on the duration the seller selects at the time the advertisement isplaced. In all, theregistration process for all four of the sites took just over 9 minutes. Armed with the product I wished to sell,I proceeded through five levels at Amazon, seven levels at E-Bay, fivelevels at Live Auctions, and three levels at Bullnet. Online Auction Comparison Introduction Many observers feel that the concept of the online auction is thetrend of the future and that this will portend the way that shopping willbe done in the future. Part of the survey states "eMarketerpredicts that revenue from online auctions will reach USD16.3 billion by2 4. E-Bay and Amazon had the mostcomplete categorizations, while the British site had the fewest categoriesbut was the easiest to place the item for sale. As a percentage of total b2c sales, the online auction market isexpected to peak this year at 17.6 percent, falling to 13 percent in 2 4"("Online..." 2 Online). The sellers and bidders must fill in a registration form with e-mail address, name and a complete address. To establish a consistent approach among all four sites, a product wasselected to sell, a poster from the Broadway show, "A Chorus Line" whichwas selected because it had a guaranteed list appraisal of $35, unframed.The results of placing this item for sale on the four auctions will bediscussed in this paper. References Online auctions to be worth USD6.5 billion (2 , Oct. online auctionswas considered, however, their auto responder failed to dispatch the neededcodes for further entry. When the deal is concluded, the auction is ended, and the seller andthe highest bidders are notified via e-mail, and they conclude thetransaction in terms of payment, shipping and so on. Yahoo! Auctions are a well-knownmarket mechanism that uses the act of negotiating a price for productsclearly within traditional supply-and-demand thinking. Since the Internethas made this model available to large numbers of people on a consistentand fairly safe basis, the probability for long-term success is great. Indeed, the requirements are that you must bealive, have a computer, a verifiable E-mail address, and be willing to fillout an E-mail registration. The policy of all four ofthe sites seemed to be to entice the surfer with the excitement ofbargains, and to draw you deeper and deeper into the website architecturebefore you are asked to register. Live Auctions (www.liveauctions.com) seems tobe skewed to an older audience, one that is more attuned to the traditionalauction ritual of instant gratification. Probability of Long Term Success Bartering and negotiating has been a major part of commerce eversince the days of the Phoenicians, and this is undoubtedly one of theattractions of buying and selling goods online. It took 22 minutes tocompete the ritual at Amazon, 31 minutes at E-Bay, 18 minutes at LiveAuction, and 11 minutes at Bullnet. Security precautions at all four sites was quite similar, mostlydealing with how the web site protects the user's privacy, how the secureinformation is handled, and how the user agrees to not misuse the site orthe service. 23, 2 survey, the onlineauction market will be worth 6.5 billion dollars by the end of the year, upfrom 65 million dollars in 1998. Then a password is sent by e-mail and has to be used in a reply and confirmation sequences. The final auction site fromEngland (www.bullnet.co/uk/auctions) had a very precise target audience --the entrepreneur in England, Scotland, Wales, Ireland, and ContinentalEurope.User Friendliness The first requirement for user friendliness is to let the surfer knowfairly quickly what is expected of him or her. The bidderuses a bid mechanism to send information about the maximum amount he or sheis willing to pay. Target Audiences Judging from the opening pages of E-Bay (www.ebay.com) and Amazon(www.amazon.com) the auctions operated by these two sites have very broaddemographic targeting. According to an Oct. 23), NUAInternet Surveys, online at http://www.nua.net http://www.amazon.com http:// www.bullnet.co/uk/auctions http://www.ebay.com http://www.liveauctions.com Indeed, most of the fraud protection statements seemed to focus onhow the site itself would collect the fees due it from the transactionssince all of the profits come from percentage commissions of the sale. This caution was curious since the Chorus Line posterwas listed as it had been described, and the only check this vendor hadundergone was to be able to remember an 8-character password that began andended with upper case letters. Once the required passwords and codes were gathered, the next stepwas to find a home for my test sales item. Fraud Protection There are many caveats on all the sites warning users of elements tobe aware of, including how to deal with a buyer or seller, what kind ofinformation to give out, what sort of guarantees to ask for and so on.With the British site, there was less concern stated, but there was theimpression that all sellers had undergone certain checks before placing thewares on the site. E-Bay's and Amazon's were more extensive, inasmuch as theyhave been doing this longer and have more of a history to draw on. If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.