Online auctions have become an online flea market and they are huge. Cars are available at auction online as well as jewelry, antiques and virtually every other commodity you can think of (including famous letters and artifacts). You can even bid on farm machinery in an online auction environment.
Ive likened online auctions to a global garage sale and I still think thats a pretty good picture of what its like. You simply use cyber cash instead of spare change and you wait for the delivery guy to show up with your treasures.
In a brick and mortar retail store you may have secondary shops where you can send overstock items or discontinued merchandise. In online retail you actually have a unique advantage over your brick and mortar counterpart. Why? Online retailers have a function called online auctions. The vested interest for online auction sources like ebay is that they have built in fees that help make their business profitable.
You may ask why this is a benefit for online retail. To answer that question lets take a look at the brick and mortar business. The owner sells overstock product at a sizeable discount to a secondary supplier. There is NO...
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