Auction Websites
Auction websites are online shopping sites for buying and selling goods and services. In this paper, two websites, eBay.com and Quibids.com, have been considered. From each site, the paper examines the bidding criteria based on an item of choice. The eBay.com website is among the most notable auction websites offering broad categories of products, including appliances, equipment, vehicles décor, and collectibles to furnishings between 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 a wristwatch for ladies-Xmas Gift D1W is considered. On the other hand, for Quibids.com, a camera carrying case- Kata Ex-07 is considered.
eBay.com
What type of auction format was used, and what item did you choose to follow?
The first item used to be a wristwatch, which was chosen from the eBay auction website. The auction format used was the auction-style listing.
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. 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.
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. Also, eBay provides the product page that is aligned with tools like the value box, where product prices of all sellers are determined.
How much did the winning bidder pay?
The winning bidder paid AU $ 5.50 for the wristwatch.
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?
Five bidders participated in the auction and who placed 9 bids. Among the bidders, some used automated bidding. In this case, the eBay company placed three automated bids.
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. Besides, the toolbar has a feature that alerts customers on whether they are logged into the legitimate eBay website every time they visit the site. It 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 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. It enables potential buyers to make a firm decision before engaging in a bidding process (eBay Inc, 2012).
Quibids.com
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.
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.
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).
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.
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 changed their bids because 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.
What features does each website use to protect both the buyer & seller from fraud?
Just like eBay websites, Quibids websites are also prone to fraud. However, fraud, in this case, is attributed to the website managers. Investigations regarding Quibids.com have proved that the site has proper guidelines that evaluate the bidding process. It ensures that the users of the site are treated where their needs are fulfilled.
References
eBay Inc. (2012). Fashion Lady Girl Perfect Wrist watch Xmas Gift D1W. Web.
QuiBids.com. (2012). Kata EX-07 Camera Carrying Case. Web.