Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Why Auctions Are Here To Stay


Business Week e.biz -- Our Readers Write

Why Auctions Are Here to Stay

I partially agree with you that one reason for the eBay craze is that it has a critical mass of buyers ("Will Auction Frenzy Cool?" Cutting Edge, Sept. 18). However, I think you fail to visit the fact that buyers see value in paying market price for any and all items.

When consumers make purchases, it is reassuring to know that they are paying a fraction more than what others are willing to pay. If you notice, the items that are popular on eBay are all difficult to appraise. When customers shop for art, baseball cards, antiques, etc., there is often a feeling that they have been ripped off.

I believe auctions will be around with any items that are not backed by large household brands, that are difficult to appraise, or that are typically promoted through alternative marketing channels such as classifieds or trade shows.

Ian Crystal

New York


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus