What is online auction?

mechanism or set of trading rules for exchange.

Internet analysts note that online retailers who incorporate auctions into their sales activities tend to see a higher level of repeat visits, more frequent purchases,

The word "auction" is derived from the Latin augeō, which means "I increase" or "I augment".[1] For most of history, auctions

By far the largest online auction host is eBay, a company founded in 1995 and through which an estimated 95 percent of all online auctions took place in 2005

"Whether you're starting a brand-new business or just looking for ways to grow an existing operation

have been a relatively uncommon way to negotiate the exchange of goods and commodities. In practice, both haggling and

Becoming familiar with the eBay way of doing business is an important first step in becoming involved in online auctions

sale by set-price have been significantly more common.[5] Indeed, before the seventeenth century the few auctions that were

held were sporadic.[6]

In order to buy on eBay one must be registered. The key element in registering on eBay, for which there is no fee, is the selection of a User ID

Jim Griffith, author of The Official eBay Bible, advises new users to take care in selecting a User ID since it will be the official "handle" for all eBay transactions by that person or the organization he or she represents

. It is crucial that a small company picks a User ID that is well suited to the company, conveys some meaning, and does not include the name eBay for reasons of trademark protection.

Nonetheless, auctions have a long history, having been recorded as early as 500 B.C.[7] According to Herodotus, in Babylon

. It is crucial that a small company picks a User ID that is well suited to the company, conveys some meaning, and does not include the name eBay for reasons of trademark protection.

auctions of women for marriage were held annually. The auctions began with the woman the auctioneer considered to be the

most beautiful and progressed to the least. It was considered illegal to allow a daughter to be sold outside of the auction

most beautiful and progressed to the least. It was considered illegal to allow a daughter to be sold outside of the auction

method.[6]

During the Roman Empire, following military victory, Roman soldiers would often drive a spear into the ground around which

the spoils of war were left, to be auctioned off. Later slaves, often captured as the "spoils of war", were auctioned in the forum

under the sign of the spear, with the proceeds of sale going towards the war effort.[6]

The Romans also used auctions to liquidate the assets of debtors whose property had been confiscated.[8] For example,

Marcus Aurelius sold household furniture to pay off debts, the sales lasting for months.[9] One of the most significant historical

auctions occurred in the year 193 A.D. when the entire Roman Empire was put on the auction block by the Praetorian Guard.

On 28 March 193, the Praetorian Guard first killed emperor Pertinax, then offered the empire to the highest bidder. Didius