Advantages of e-auctions

  1. Expansion of the market: meaning the opportunity of any interested party to participate and work inside the market, resulting in the removal of all borders, the enlarging of the market and the increase in competition
  2. Global coverage: the immediacy of the internet removes the time difference in the various corners of the world
  3. Reduction in costs and speed in transactions: transactions take place immediately and without any 'middlemen', which means a reduction in transaction costs.
  4. Resources savings: no need for moving to places and wasting time and energy
  5. Effective pricing: in an expanded market with increased participation and competition the final price in the auction will move according to market conditions
  6. Less risk in synergies: a large enough number of participants provides for the immediate holding of the auction but does not leave room for collusion among participants
  7. Convenience: the platform’s interface and internal operation environment, where the auction takes place is easily accessible and user-friendly, since the user through the keyboard itself can follow, monitor and participate in the auction, either as a participant or as an interested party
  8. Interaction: immediate response and the speed of the platform allow the users to acquire specific information and to interact in an extremely short time, underlining how interactive the platform is
  9. Price control: facilitates a more effective control on the prices offered
  10. Physical presence is unnecessary: regardless place and time, the users participate in the transaction
  11. No middlemen’s presence: the transactions are not overcharged by any additional commission costs, both for those making an offer or for those interested in an offer
  12. 24h operation: since time is not an obstacle, auctioncan take place at any time
  13. Asynchronous operation: synchronization of the participants is not required for conducting the e-auction, since there are no time or geographical restrictions
  14. Communities development: the buyer-seller relationship is improved as the sellers are better oriented to the needs of their customers and to their economic capacities; relations are strengthened and a new market community and faith are created
  15. Reduced research costs: through the application, the interested party can very easily invite potential participants to the e-auction, since they participate as members in it.
  16. Improvement in business efficiency: if participants are invited to auctions and they repeatedly fail to win an auction, then they are actually forced to redesign and correct their business methods in order to be more effective