Other auctions amounts to reverse affairs companies describe what they want and vendors bid for the contract. The same data is available for every customer, no matter what the size of business. Online auctions have a distinct advantage for an Emerchant wanting to dispose of surplus or distressed material it can be sold without any needs for physical transport of the material to a disposal site, and the market is global not regional. Cyberauctions work on the simple basis of a bidder online tapping in his bid on the keyboard the bid is instantly recognised at the auction end, compared to other incoming bids and a response generated. At that stage the online auctioneer puts the online bidder in touch with the online seller, takes a commission from both and gets out of the way.
Some auctions last an hour, some a lot longer up to a week or more.
Any business that decides to host its own auction needs two things a site on which to sell, and the time and resources to host the sale, using in house software and connectivity. Using this kind of software a company can tailor its auction to look any way it wants. Registration pages can be established so that sellers can authenticate bidders Email sites. The software will also allow a company administrator to follow through in effect checking that bidders have paid according to the sellers requirement, and rating them with a score. That allows future sellers to say they will only accept bids from buyers with a sufficiently high credibility rating.