AUCTION

Used Car Auction Site

Used Car Auction Site

Title

Used Car Auction Site.

Rationale

The cars that were displayed at the auction were expected by cars collectors and admirers because they were rare and the majority weren't restored. It's the dream of every car lover to have a beauty like these in his collection. Auctions have existed for thousands of years and are commonly used to sell a wide array of items such as artwork, antiques, mineral rights, flowers, livestock, office supplies, publishing rights, and broadcasting bandwidth to name a few. Used car auctions are generally discussed in terms of a monopoly or selling auction, where one seller controls the auction and many buyers compete against one another to purchase used car. Conversely, used car auction site can also take the form of a monopsony or purchasing cars, where one buyer controls the auction and many sellers compete against one another to provide cars at a time at the physical site.

Discussion

The advent of the industrial physical-auction can be traced back to 1995 and the efforts of the auction provider FreeMarkets to establish a virtual marketplace for the exchange of B2B goods and services. An physical-auction can be characterized as “an online, real time auction between a buying organization and two or more invited suppliers, where suppliers can submit multiple bids during the time period of the auction and where some degree of visibility exists among suppliers regarding the actions of their competitors” (Carter et al., 2004, p. 1). An physical-auction, like any auction, is an attempt to create a pure market exchange where the value of a product or service is determined based upon the valuations of individual bidders. Onlinereverse- auctions are often referred to as procurement or purchasing auctions because they are predominantly used by industrial organizations to award purchasing contracts to suppliers. While ideally suited for commodity type goods and services, physical-auctions have been used to purchase a wide array of items including engineered components and services. The underlying assumption of an physical-auction is that suppliers have sufficient capacity as well as high enough margins to warrant reduced prices when faced with increased levels of competition.

Physical-auction design incorporates a variety of factors that can be characterized as the parameters and rules that govern an auction. In the broadest sense, physical-auction design describes who can participate in an auction, the bidding process, and how winners of the auction are determined. Researchers have evaluated physical-auction factors such as contract size, number of participants, duration of auction, use and size of reserves, bid visibility, and auction award rules from a variety of perspectives, however, research examining the influence of an physical-auction's design on the buyer-supplier relationship remains limited. This study focuses on three aspects of physical-auction design; auction control, bid visibility, and the rules used to determine an auction winner. Description

While a number of different factors can influence the design of an Used carauction, one area that has largely been overlooked is the effect of auction control on supplier perceptions of the buyer-supplier ...