Online Auctions: An Overview
The IUP Journal of Cyber Law, Vol. 9, Nos. 1 & 2, pp. 109-118, February & May 2010
Posted: 12 May 2010
Date Written: May 10, 2010
Over the past decade, online transactions have changed a lot and enabled the merchants to increase their customer base and also initiated a number of successful companies which operated online. Consumer-to-Consumer (C2C) commerce has created new opportunities for consumers and businesses. The use of Internet has made auctions very easy, cost-effective and transparent. eBay India, Yahoo, auctionindia.com and Bidrivals.com are some of the famous auction sites in India. The present article traces the evolution of auctions by highlighting its advantages, challenges, issues and legislations related to online consumer protection in various countries. This article takes the example of eBay and critically examines the mechanism, payment method, and consumer protection policies at eBay.
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