Asiaone 1-42

Auctions
BUSINESS
The Internet’s ability to provide buyers and sellers a low cost way to meet and exchange information
has made it an ideal medium for hosting auctions. Internet auctions provide consumers and businesses
an easy, cost effective way of listing items for auctions and completing transactions. There are broadly
four types of Internet auctions, namely C2C, C2B, B2C and B2B.
Internet auction is a win-win business model which benefits (i) the websites hosting the auctions, (ii)
buyers and (iii) sellers. The key benefits to the websites hosting the auctions include the following:-
(i) no need to own any inventory, no inventory losses or excesses;
(ii) minimal need to provide original content;
(iii) no need to set up, run or own warehouses; and
(iv) minimal handling charges.
Buyers benefit from Internet auctions in ways such as the following:-
(i) wide selection of goods;
(ii) ability to buy goods at prices they find reasonable;
(iii) 24 hours a day, 7 days a week market access;
(iv) convenience of accessing marketplace from a computer; and
(v) almost automatic real time responses to market trends.
The key advantages of Internet auctions to sellers include the following:-
(i) an additional distribution channel reaching a large market and audience which sellers would
not have been able to reach before;
(ii) efficient market for scarce goods and collectibles as well as excess inventory and supplies;
(iii) minimal selling cost;
(iv) ease of adding new merchandise categories; and
(v) convenience of accessing marketplace from a computer.
We have added the Auction AsiaOne site to the AsiaOne stable of products. Auction AsiaOne provides
consumers and businesses a central location to buy and sell products and services as well as to
meet other users with similar interests. Auction AsiaOne provides the tools that facilitate auctions,
acts as a referee between buyers and sellers, is a gatekeeper that sets and enforces rules of
conduct and generally encourages a fair marketplace.
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