Online Auctions

The game of bidding

In the Orient haggling is part of the pleasure of purchase. The same can be transferred to one of the formats of online marketing – auctions. Only the person who has checked in odd hours of the night how the bidding for the desired object can not understand what makes internet marketing unique. Only last year the number of online auctions in the country increased despite the fact that only 4% of Bulgarians now shop online. How and why electronic auctions that are more exotic and often risky form of e-commerce are interesting and promising business venture?

Modern market

Entrepreneurs niche is interesting, because to create a technical platform such site is not so expensive. Another issue that needs funding for maintenance, promotion of service and constant optimization of the arrangement of the articles. However, in online auctions missing purchase of goods and logistics. This is mostly intermediary business, whose most valuable resource is consumer confidence.

In general and in the world and in Bulgaria are two common forms of online auctions. One type are called. penny auctions, where users only bid, while the site provides all available new products (see box). Another popular form of online auctions sites that offer a platform for interaction between buyers and sellers. Last bid on items proposed within a specified period in the English auction model, ie with increasing bids. Bulgarian among similar sites are and The largest online auction (60 000 registered users) is The site is owned by the Polish online company Allegro, which operates in 12 countries of Central and Eastern Europe. Internet auctions in Bulgaria are a relatively new phenomenon – and began operations in the summer of 2007 and – 2005

Most such sites earn fees from sellers. Everyone decided to trade online, paying for registration, as well as an additional charge as the proposed number of goods. In most cases a charging rate of profit in a successful transaction. EBay example, earns about 5% of the value of each commodity.

The most demanded products in the auctions are collectibles, books, second-hand clothes and shoes. According to Ivan Dimitrov in respect of certain specific segments such as automotive parts, which are one of the most traded commodities, thus global leaders portals announced as Transactions between individuals in the sites free ads are similar in shape to an online auction and are also quite popular.

  • Bidding