How the Internet Has Changed the Auction


September 8, 2011
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Let’s be realistic here: it’s terribly difficult to bid for a cow online. Sure, there are actually places where livestock is up for auction on the internet, but the city dweller who is searching for the latest electronic toy isn’t likely to accidentally stumble into a cattle auction on some of the most popular sites. And yet, those who deal in cows and bulls now have the opportunity to get their sales done electronically and sight-unseen, if that’s what the buyer wants. Ain’t technology marvelous?

An auction, what we used to define almost solely as a group of interested people surrounding a fast-talking auctioneer, raising paddles to indicate their willingness to lay down some cold hard cash for an antique clock or a foreclosed farm, now comes in many flavors. You can be in physical attendance or not, depending on what’s up for sale and where the item is located. Online auctions have become very popular, with millions of people competing with each other for the best deals on everything from broken gizmos to collector’s item lunchboxes to cars and houses. Even a cow.

The online auction has the advantage of being open to a lot of variation. Some auction sites are fairly straightforward, with only one or two ways to bid. Others have turned the whole process into something akin to a card game, with multiple levels and rules, and strategy is as necessary to win for some of these auctions as it is for making big bucks in high stakes poker. Whether you’re no-nonsense and practical or love the thrill of gambling, there’s an auction site for you.

The most popular and well-known auction sites are pretty simple so as to attract the largest possible number of customers. They don’t have any fancy styles of auctions, so most people can easily grasp the rules in order to win something they absolutely need (that potato chip that looks like Madonna!). Lesser known but growing in popularity, penny auction sites turn bidding into a high-stakes game with as much strategy as poker. They’ll cost you, but if you win, you can save big money.
Auctioning may continue to take strange twists and turns as technology changes. For now, though, it’s become a great way for mainstream America to win a great deal. Plus, you can build up your farm while sitting in the comfort of your city apartment.

 
 
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