eBay launched in September of 1995, and within weeks, buyers
and sellers began flocking to the service. By definition, an
auction creates a
format for demand. Competitiveness is a form of human nature,
and when combined in an online format with instantaneous bidding,
people have an urge to compete
for purchases.
eBay went public in September of 1998. On eBay, the total amount of money
that flows from transactions on the site, excluding vehicles is over $10 billion
per quarter.
eBay is certainly responsible for being the catalyst of the marketplace.
The success of online auction leader eBay has led to a trend of niche auction
sites beginning to cash in on this growing marketplace. Niche auction sites are
run by an individual or company with expertise. Participants feel as though they
are part of a private club where they can uncover special deals. The
niche auction attracts avid collectors looking for specialty
items. In the
private auction, less items are featured
to a targeted client base where a higher percentage of
items sell, and sell for a premium. In a recent Forbes article,
Bill
Meyer writes "When
it comes to online auctions, EBay is not the only game
in town. Many niche auction
sites have created thriving markets--and enthusiastic communities--for
everything from cigars to vacations."
Create Auction is focused on continuing to ride this trend,
and be the leading provider of online auction software
solutions. We are concentrating our efforts on utilizing
the excitement of the auction process
to devise niche
auctions that create, enhance and strengthen brands.
We provide
tools to empower companies that wish to capture their
own audience in their own privately branded
auction. Our
business model has been designed to be scalable to any size auction
and for any industry.
As the Internet grows, niche auction
sites
will continue
to grow
and flourish.
Why
not take advantage of what you know. A niche auction
targeted toward your specific interest group can be
a huge success. Starting your own niche
auction
helps to strengthen brand identity, portrays you as
an "industry authority". With the Create Auction solution, any company can begin
its road toward
profitable
ecommerce today.