Internet:eCommerce:Auction Sites

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Overview

This is my hints page.

Icon Objective.png

Objective Auction sites

By the end of this page you will be able to:

  • Understand how auctions can work on the internet

Planet Bid

Planet bid auction site


(PlanetBid.com.au, 2009)[1]

A 1TB Hard Disk Drive currently auction value: $21.54

Some calculations:

  • The drive is now at $21.54. Each time someone bids it costs them the max. of $1.45 (approx) and they increase the bid by .11 cents, so so far the company has made $21.54/.11 * $1.50 = (approx) $294.
  • They will make a fortune. However if you were the last bidder it would be a bargan.. but if you bid in the closing seconds the bid time increases again.. so it could go on for ages.costing $1.49 each time .. very clever company.. but I suspect you wont get a bargain in the end!
  • BTW if it sold for $284 at .11 cents per bid at the lowest cost per bid ($1.00) the company would make $2,581.

... and whats more the amount of time you would have spent waiting for the auction to continue could be hours !!

Others


Icon References.png References

  1. PlanetBid.com.au (2009) Online auction::Planet Bid. Retrieved May 5, 2009 from http://planetbid.co.nz/

Internet:eCommerce:Auction Sites. (2017). In virtualMV's ( Michael Verhaart ) wiki. Retrieved December 12, 2017, from http://www.virtualmv.com/wiki/index.php?title=Internet%3AeCommerce%3AAuction_Sites    (zotero)