Auction Places...
The three biggest auction houses in the world are Christie's, Bonhams, and Sotheby's. All of them are based in the UK. Now days Internet auctions are rapidly becoming popular. The most prominent internet site is eBay. There are others also like Amazon.com, SalvageSale, eBid, Overstock.com, Yahoo! Auctions, uBid, TradeMe, uShip.
Internet Auctions...
An online auction is where the people who take part bid for products and services over the Internet. Here, the goods are not sold by online auction sites like eBay, but they merely help in the procedure of listing and displaying goods, bidding on items and paying for them. It only acts as a marketplace for individuals and businesses who want to buy or sell their products or services.
Advantages of Online Auctions
-There is no time constraint at all. The bids can be placed at any time of the day and a particular item or service can be up for bid for up to ten days at a stretch. This gives you time to look for similar products and compare the prices and then bid.
-You can be sitting in Alaska and bid. In short, no matter where you are you can bid for the items that are put up for bid in any part of the world. This increases the number of sellers and bidders from all over the world and you have access to many more items and their varieties.
-Due to the potential for a relatively lower price, wide range of products and services available, easy accessibility and social benefits, there are a large number of buyers and sellers.
Online car auctions...
Every year millions of cars are sold in online car auctions. These auctions are meant for the general people and licensed dealers only. Here not only new cars but also ex-government cars, corporate fleets, seized cars, used cars, damaged cars are auctioned. These online sites also auction car spare parts along with the cars. The types of cars that are auctioned here are cars that cover off-lease returns, company cars, trade-ins, replaced rental fleets, and repossessed vehicles.