Online Auction

The online auction business model is used by participants to bid for products and services over the Internet. Auction software is used for buying and selling in an auction format which regulates the various processes involved. The fame of auction portals is also due to the fact that portal owner need not offer any goods or services of their own instead they can act as facilitators between the buyers and sellers by providing them with the framework and platform to interact and directly handle with each other.
Features of Online Auction Portal:

»  By online auction business model Gain access to a larger potential client base.
»  Through Online auction portal it is possible to offer a larger number and diversity of products as     compared to the traditional auction methods.
»  Online auction portals enable for buyers to browse product through catalogues and place bids at      their own convenience.
»   An auction portal offers a meaningful measurement for the customer interest and the prices that they      are willing to pay for the products.