e- auctions presentation by jyotindra zaveri e-business consultant
TRANSCRIPT
E-AUCTIONSPresentation by Jyotindra ZaveriE-Business Consultant
www.dnserp.com
WHAT IS AN E-AUCTION? Auctions are common in
markets where the goods sold are valuable (like art) or when their prices can't be easily determined. The process of an auction aims to find a fair price for the goods by identifying buyers who need them the most.
Such auctions are called forward auctions. In forward auctions buyers compete with each other by placing bids for the goods to be sold.
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For example, metal junction, pioneered the concept of e-Auctions for steel by moving the entire process of auctions to the Internet.
With state-of-art technology and unique services to support buyers and sellers in the decision making, financing and logistics stages mJunction.com make sure that the auction tools help enterprises realize their sales and procurement goals with considerable cost savings.
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WHAT DOES ONLINE AUCTION-WEBSITES AUCTION ON THE INTERNET?
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BUSINESS MODEL - ONLINE AUCTION At www.mjunction.com, assets
worth Rs.7000 crore over the past decade.
The benefit for buyers is that they can pickup some items cheap.
Some old items on the balance sheet will not have much value (after depreciation), and there is no organized market to sale, therefore buying and selling on internet is now considered as good option to raise money (and some time profit too).
Business benefit for sellers:Online
auctions help attract more buyers
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RUNWAY STORY
Organizations are looking for creative ways to generate money from assets that have become a liability. While converting idle capital assets into cash is a
routine corporate practice, during the economy down turn, companies would like to get maximum money. Solution is to auction such items.
Bhilai steel plant (Chhattisgarh) had an airplane, that was sold. Now the runway, called Nandini airstrip, was of no use.
Bhilai steel would like to auction the run-way using online auction website !
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THANK YOU
PRESENTATION BY
JYOTINDRA ZAVERI E-Business Consultant
email [email protected]
www.dnserp.com