An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory.
eBay Inc. is an American multinational e-commerce company based in San Jose, California, that brokers customer to customer and retail sales through online marketplaces in 190 markets worldwide. Sales occur either via online auctions or "buy it now" instant sales, and the company charges commissions to sellers upon sales. eBay was founded by Pierre Omidyar in September 1995. It has 134 million yearly active buyers worldwide and handled $74 billion in transactions in 2022, 49% of which was in the United States. In 2022, the company had a take rate of 13.25%.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
A textbook is a book containing a comprehensive compilation of content in a branch of study with the intention of explaining it. Textbooks are produced to meet the needs of educators, usually at educational institutions. Schoolbooks are textbooks and other books used in schools. Today, many textbooks are published in both print and digital formats.
An online auction is an auction held over the internet and accessed by internet connected devices. Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules.
MercadoLibre, Inc. is an Argentine company headquartered in Montevideo, Uruguay, incorporated in the United States that operates online marketplaces dedicated to e-commerce and online auctions. As of 2016, Mercado Libre had 174.2 million users in Latin America, making it the region's most popular e-commerce site by number of visitors. The company has operations in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela. In 2023 Time included Mercado Libre in the list of the 100 most influential companies in the world.
Tradera.com is an online marketplace based in Stockholm, Sweden. With its 3 million members, 6 million weekly visits and more than 4 million listings at any given point (2021), it's the largest marketplace in the Nordics for sustainable shopping. Items are sold from both private consumers and businesses and are ranging from fashion and interior design to tech and collectibles. Although Tradera welcomes members from all over the world, most are from within the EU and Sweden. Tradera was originally based completely on auctions, but today visitors can purchase both new and second hand items through auctions as well as fixed price listings. Tradera was founded in 1999 but was acquired by eBay Inc. in 2006, which already owned the financial tech company PayPal. When eBay and PayPal were separated in 2015, Tradera became part of PayPal. Since PayPal's sale of Tradera in 2021, Tradera has once again become a Swedish company.
Auction sniping is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper. This can be done either manually or by software on the bidder's computer, or by an online sniping service.
Etsy, Inc. is an American e-commerce company focused on handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. Items described as vintage must be at least 20 years old. The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item. Beginning in 2013, Etsy allowed sellers to sell mass-manufactured items.
Quicksales was an online auction site based in Australia, and the second largest auction website in Australia. At one point there were more than 1.8 million items available for auction or purchase and over 515,000 member accounts. The site was defunct as of 2018.
A domain name auction facilitates the buying and selling of currently registered domain names, enabling individuals to purchase a previously registered domain that suits their needs from an owner wishing to sell. A Drop registrar offers sales of expiring domains; but with a domain auction there is no need to wait until a current owner allows the registration to lapse before purchasing the domain you most want to own. Domain auction sites allow users to search multiple domain names that are listed for sale by owner, and to place bids on the names they want to purchase. As in any auction, the highest bidder wins. The more desirable a domain name, the higher the winning bid, and auction sites often provide links to escrow agents to facilitate the safe transfer of funds and domain properties between the auctioning parties.
Bob Shop, formerly Bidorbuy or bidorbuy.co.za, is a South African e-commerce website based on an internet auction and online marketplace model allowing individuals and businesses to trade with each other. Transactions on bidorbuy are in South African rands.
Ruby Lane, founded in 1998, is a vintage online retail store based around independent member traders.
Rakuten.com/shop was an e-commerce marketplace based in San Mateo, California. Previously known as Buy.com, it was founded in 1997 by Scott Blum. In 2010, it was purchased by Japanese company Rakuten, and rebranded as Rakuten.com. This business was shut down by Rakuten in 2020.
iOffer was a San Francisco-based online trading community that was launched on May 1, 2002 by Steven Nerayoff. As of February 2008, it claimed to have nearly one million total users, including approximately 75,000 sellers, although this information cannot be independently verified, nor is it known how many of these users are active.
eBay has faced controversy, including failure to combat fraud committed by buyers and sellers, concerns over its rating systems, and concerns over sales of controversial or illegal items.
Customer to customer markets provide a way to allow customers to interact with each other. Traditional markets require business to customer relationships, in which a customer goes to the business in order to purchase a product or service. In customer to customer markets, the business facilitates an environment where customers can sell goods or services to each other. Other types of markets include business to business (B2B) and business to customer (B2C).
Pricefalls, LLC was an American Internet company that managed Pricefalls.com, an on-line retail marketplace, and PFTech, a leading marketplace platform developer. In 2019, Pricefalls, LLC was acquired by Loblaw, Canada's largest retailer.
Yardsellr was a San Francisco-based person-to-person online marketplace founded by former eBay executives in October 2009. It was shut down on February 4, 2013 to concentrate more on e-commerce at the short-lived social commerce site CompoundM.
Swappa is a user-to-user marketplace for buying and selling new and gently used technology. Buyers and sellers connect directly and all devices must be fully functional to be sold or listed on Swappa. Swappa employs a customer service team that reviews listed devices to ensure they meet this requirement.
