How to conduct an electronic auction

Auc­tion — an event for the sale of goods by cre­at­ing com­pe­ti­tion among buy­ers. So, a lot is put up at an auc­tion, a group of peo­ple inter­est­ed in acquir­ing this lot gath­ers, its ini­tial cost is assigned, and by increas­ing this cost to the max­i­mum that buy­ers are ready to offer, bid­ding takes place. Until recent­ly, the auc­tions were real, but today it is pos­si­ble to orga­nize and con­duct an elec­tron­ic auc­tion.
How to conduct an electronic auction

You will need

  • - a com­put­er;
  • - Inter­net access;
  • - auc­tion site


Every­one can orga­nize their own auc­tion and for this it is not nec­es­sary to be an advanced com­pa­ny or have cer­tain skills. To con­duct an elec­tron­ic auc­tion, gath­er a cir­cle of inter­est­ed peo­ple who can pur­chase the goods you put up for sale, noti­fy them of the auc­tion at least three weeks before the reg­is­tra­tion.
Take care of the prepa­ra­tion of lots before you start cre­at­ing an auc­tion site. Take a pic­ture of each thing (object) sep­a­rate­ly from all sides and from dif­fer­ent angles. Set the high­est require­ments for pho­tographs, as a rule, the pho­to should not con­tain “extra” ele­ments, be pro­por­tion­al, the min­i­mum size is 1000 by 1000 pix­els.
Cre­ate a bid­ding site if you don’t already have one. Pro­vide a reg­is­tra­tion form, a sta­tis­tics ser­vice, a search engine. It is rec­om­mend­ed to con­clude an agency agree­ment with one or two elec­tron­ic mon­ey sys­tems (espe­cial­ly if the offered goods are expen­sive and require an auc­tion deposit from par­tic­i­pants). Be sure to test the online bid­ding sys­tem, fail­ures dur­ing the auc­tion are unac­cept­able.
Post pho­tos, item descrip­tion, auc­tion date, and stat­ed orig­i­nal price on the site.
Think about who your lots may be inter­est­ed in (enter­pris­es, orga­ni­za­tions, firms, indi­vid­u­als, etc.), that is, you must ini­tial­ly iden­ti­fy for your­self who can be a poten­tial buy­er and vis­i­tor to your auc­tion.
Cre­ate a cat­a­log of the prod­ucts fea­tured on your web­site, includ­ing the date and loca­tion of the auc­tion. This is required in order to gath­er inter­est­ed peo­ple in one place (web­site) at the appoint­ed time to start trad­ing.
Send this list (cat­a­log) to poten­tial par­tic­i­pants. In this case, you can use both e‑mail and reg­u­lar mail­ing, and you can also bring a prod­uct cat­a­log on your own, for exam­ple, to a com­pa­ny that may be inter­est­ed in your prod­ucts.
Open the site for reg­is­tra­tion 2–3 weeks before the auc­tion. Col­lect appli­ca­tions (lim­it if nec­es­sary).
Start trad­ing at the stat­ed time. Set up one (up to three at a time) lot and the start­ing price for it. Next up is the appli­ca­tion ser­vice. Site vis­i­tors make bids, the ser­vice fix­es them and counts down the time (some­times auc­tions go up to a day), after the time has elapsed, the ser­vice deter­mines the last buy­er and cal­cu­lates the final sale amount of the lot.
Your task is to record this fact on the site, noti­fy the par­tic­i­pants of the auc­tion about its results and trans­fer the lot to the own­er.