If you thought that Internet and online business has been enabled only in case of business to customer type of business, you are wrong. Even business-to-business is conducted through online procurement and online e auctions. This is fast becoming the most popular way of selling things to other businesses.
Anything new takes a while for us to learn. This is true in the case of e auctions too. You need to know how things work and decide if this is the right option for you. When you have understood to how to participate in the e auctions you are ready to enter it.
E auctions do not have the scope for physical exhibition of the items on auction. At the most you may get to see the photos online. In traditional auctions one is able to see the item physically before buying it. Therefore if you are buying an expensive item, then you need to think twice if you are comfortable buying without seeing it.
Traditional auctions have both buyers and sellers talking to each other at the auction site and there is opportunity for live interaction. This is not available on e auctions. At best you may be able to chat online with the people carrying out the auction.
Online auctions do score over the traditional auctions in the sense that you need not pay huge amount of rent in securing a venue for holding the auction.
It is not only the rent that you save on in an e auction, but you get to save on other incidental expenses including refreshment and snacks cost that you would otherwise have to spend. E auction does not have any such provisions for expenditure.
Just imagine with e auction you can reach to buyers from across other countries and engage all those who are interested in your ware, but when you hold a traditional auction you are limited to calling only those who are in the nearby vicinity and a small group.
Now that you have been educated regarding both the types of auctions, you are ready to engage that mode which suits your business needs best. Decide on one channel after considering the benefits and disadvantages of both the channels.