in flea markets, garage sales etc. Due to globalisation people from different countries interact with each other to transact. In order to protect consumer from the unscrupulous buyer and seller separate legal rules for auction websites may be created. Seller Plus: It is the membership based on subscription which charges the seller with a recurring fee every 73090 days or 365 days. Then it is upto the buyer and seller how to complete the transaction independently. "Equilibrium strategy and population-size effects in lowest unique bid auctions".
In such business model there is a lot of cost cutting, inevitable cost such as inventory cost, distribution, sales etc are deleted. Cite weblastTeacher firstLaw urlp? Unlike traditional auction there is no agency relationship between the auction websites and the users. EBid charges a fee based on membership validity. See also edit References edit a b Bapna,.; Goes,.; Gupta,. The main difference between this and English auctions is that bids are not openly viewable or announced as opposed to the competitive nature which is generated by public bids. Auction websites like eBay provides alternative dispute resolution other than courts such as mediation and arbitration through online to settle the disputes which arise between consumers. (2002) e-Auctions: Who will protect the consumer Journal of Contract Law 18 (1/2 75-106.
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The most problems complained were of non-delivery, non-payment, inability to reach other party with the item and damage to reputation. . In traditional auctions, the auctioneer acts as the agent for both the buyer and seller. Retrieved from p?vref1 Reference Copied to Clipboard. 210.00 90 Day. It also need help with dissertation transcends the boundaries of a traditional English auction where physical presence is required by the bidders, making it increasingly popular even though there is a susceptibility to various forms of cheating. This paper will analyse whether appropriate protection is provided to the consumer by the auction websites.