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How can an online auction service be used to enable buyers and sellers of second hand watches to trade with each other?
Wiki User
∙ 14y ago
Buyers can search for this item on the site under the Jewelry & Watches category. Sellers can list individual, multiple-listing or wholesale lots of second-hand watches.
Wiki User
∙ 14y ago
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What is the difference in a reverse auction and an ordinary auction?
Interesting question. Here goes. A reverse auction is a type of auction in which the roles of buyers and sellers are reversed. In an ordinary auction (also known as a forward auction), buyers compete to obtain a good or service, and the price typically increases over time. In a reverse auction, sellers compete to obtain business, and prices typically decrease over time.
What happens during a reverse auction?
In a reverse auction sellers are in competition to obtain the buyers business. The name reverse auction is apt because the role of buyers and sellers is reversed and instead of prices escalating, the prices generally go lower as sellers compete for the buyer's business.
What is the difference between a reverse auction and a forward auction?
A forward auction is the "ordinary auction" we are all used to today. In a forward auction, the buyer bids on the sellers item, and the prices of the item increases during the auction. On the other hand, a reverse auction switches the roles of the buyer and the seller. In a reverse auction, the sellers are competing for the buyers business, and the prices of the items the sellers are selling decrease during the auction.
What is the meaning of the term reverse bidding?
The term reverse bidding refers to the concept where the role of the buyers and sellers of a typical auction is reversed. So sellers bid at lower and lower prices to acquire buyers.
Is eBay a service company?
No its a World's Online Marketplace, Connecting buyers and sellers globally.
What is an reserved auction?
The direct opposite of a traditional auction. The bidders list their product or service requirements and the maximum price they are willing to pay for it. Potential sellers who can provide the good or service reverse bid against each other by posting their bids for buyers. The bidder offering the requested products or services at the best price wins the bid.
Why there is a large number of sellers and buyers in monopolistic competition?
large numbers of buyers and sellers
What is paisa pay?
Paisa Pay is EBays online payment service, where buyers can pay sellers through credit card or bank transfer. Paisa Pay is EBays online payment service, where buyers can pay sellers through credit card or bank transfer.
Is there a carfax for watches?
Check out watchfacts. They have a network of manufacture service centers that will inspect a watch for authenticity, condition and theft. The offer reports to buyers for watches they previously inspected and provide inspection reports to watch buyers.
Which of the following best describes the concept of equilibrium price?
A. Sellers are happy with the price, but buyers are unhappy with the quantity. B. Sellers are unhappy with the price, but buyers are happy with the quantity. C. Both sellers and buyers are unhappy with the price and quantity. D. Both sellers and buyers are happy with the price and quantity.
Is a reverse auction different from a regular auction?
In reserve auction, there is a maximum price for the particular auctioned item, and the bid reaches here, then the seller can not increase but lower the reserve price. In a regular auction, the Reserve price is the maximum price for the auctioned item that the seller willing to accept. You can go and check out for live auctions that are running on banknilami website. You can participate there.
An economy in which the buyers and sellers determaine what goods are produced is called?
A Free Market is where buyers and sellers determine what goods or produced.
