Online auctions are already having a huge impact on companies’ balance sheets. In 2010 eBay made sales of an estimated £800 million in the UK with around 19 million unique users a month in this country.
Online auctions make good business sense. They help suppliers manage their stocks more efficiently and improve profitability, while customers can cut time and cost from their purchasing process.
Read on to find out about forward and reverse auctions, the benefits of getting involved in online auctions and a list of useful links to get you started.