Online Auctions: The New Way of Shopping for Mauritians

Since their introduction several years ago, online auctions, such as eBay, have been one of the hottest destinations on the World Wide Web. Auction sellers are attracted by the prospect of a broad venue for their products and the possibility of high profits. Bidders on online auction sites are drawn to the unique shopping opportunities and potential to purchase hard-to-find items at low prices.

One such website in Mauritius is www.mauritiantrader.com . As an online marketplace, MauritianTrader offers a window of opportunities to businesses and individuals by allowing them to buy and sell almost anything online. It even gives buyers the opportunity to request a specific item from sellers (reverse auction). Items sold can be new or used ones and they cover all categories from electronics, fashion items, books, cars, antiques, furniture etc.

What makes online auctions so attractive to businesses is the number of people bidding against each other. It provides an instant audience that secures the seller the best price. As for the buyer, the speed, simplicity and variety of goods on offer can vastly speed up procurement.

Benefits of buying on auction websites

Bidding for products has advantages over traditional purchasing for both buyer and supplier. Businesses save time spent on procurement by finding, comparing, ordering and paying for products in one sitting. Repeat orders can also usually be made quickly and cheaply. Experienced bidders save time by using software to keep track of several auctions at once, setting up automated searches and bid alerts.

Many businesses use online auctions for buying items that are non-critical to their business such as office furniture, or to track down specialist equipment, that can be picked up second-hand at a keener price.

As for individuals, the convenience of sitting at home and shop for something is thrilling. Just a few clicks and you can find what you are looking for at great prices in a matter of seconds.

Benefits of selling on auction websites

Businesses selling products or services at an online auction are likely to see reduced marketing costs, as they are tapping into a ready-made community of buyers at a well-established auction. Moreover, they get access to a much wider market ? small suppliers gain a worldwide audience.

Many companies find selling at auctions gives them useful feedback on their products and services ? they treat it as an opportunity to test products and gauge value. Another key benefit is being able to offload excess stock quickly and cheaply. It can also help cut out the middle man.

Some individuals go for auction websites simply because they want to make some extra money. So, they buy products on sale and sell them at a slightly higher price but lower than the regular market price. Other people may just want to clear up clutter around the house by selling second hand items or even may want to start their own business by advertise their products online.

Mauritians have been lagging behind on online trading mainly because there was no local auction website in the past. Moreover Mauritians still hold on to their traditional ways of doing business. They feel the need to see-touch-feel a product before buying. However, with a local website like MauritianTrader, where users are mostly Mauritians, they can arrange to meet and view the item before making any payment.

Mauritians may feel skeptical at first to adopt this new way of doing business. Just like millions of people around the world buying and selling online, Mauritians will quickly realise the benefits they would derive from online trading. The uncertainty of a buyer's or seller's reliability may be another cause for not choosing online auctions. However, like eBay, MauritianTrader has a feedback feature. The buyer/seller gets a feedback at the end of each transaction. The more transactions, the more feedback and therefore the more a buyer/seller's "reputation" can be evaluated accurately.

It is high time Mauritians make use of this service, especially small businesses that do not necessarily have the powerful tools for effective marketing. Not only will they be selling to Mauritians but also obtain global exposure. Mauritius should make the next step and catch up with the latest methods of doing business effectively.

http://www.mauritiantrader.com

Z.Khan Economic Analyst

In The News:

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Melbourne market to be tested at this weekend's auctions  Domain NewsMelbourne's weakening property market will face a key test this Saturday as the number of auctions returns to more normal levels after the summer break.
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Uncovered treasures: Vince Lombardi game-worn hat among items being auctioned  Green Bay Press GazetteGREEN BAY – The Vince Lombardi hat was in a Green Bay Packers duffle bag; the other treasures in a portable metal safe, about four decades old.
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Online auction of seized Belgian bitcoin begins next week  The Irish TimesWilsons Auctions secures contract to sell 315 coins of cryptocurrency.
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Concord International Elementary PTA Auction  West Seattle BlogJoin us for a tropical-themed evening complete with live music, dinner, drinks and silent and live auctions benefiting Concord International Elementary!
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Govt reverts to old block auction plan  Times of IndiaIndia Business News: NEW DELHI: The government has switched back to the two-decades-old method of auctioning oil and gas blocks in areas with poor ...
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OALP: India Launches Third Round Of Oilfield Auctions  BloombergQuintThe union government has launched the third round of oilfield auctions under the Open acreage Licensing Programme as India aims to cut oil imports by 10 ...
Two clarifications that point to where Essar Steel auction is headed  Moneycontrol.comA couple of clarifications perhaps point to the direction where the Essar Steel auction is headed. Anil Agarwal's Vedanta on February 19 categorically confirmed ...
Auction Preview: Extraordinary Books and Manuscripts at Bonhams, New York, Mar 12 | Artinfo  BLOUIN ARTINFOWhat: Extraordinary Books and Manuscripts. Where: Bonhams, 580 Madison Avenue, New York NY 10022, USA. When: 12 March, 02.00 EDT. Public Viewing: ...
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Dalhart livestock auction report | Markets  High Plains JournalThe Cattleman's Livestock Auction, Dalhart, Texas, reported receipts of 1687 head selling Feb. 14, compared to 1872 head a week ago and 2625 head last year, ...
China stirs the PV world – by preparing to shift to auction mechanism  pv magazine InternationalProjects not encompassed by the new, central-subsidy-free, 'grid-parity' regime will be eligible to bid for a government subsidy. But, at a reported $446 million, ...
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Local News Clark County to hold first surplus auction of the year Amy Abdelsayed 9:55  KTNV Las VegasLAS VEGAS (KTNV) — Clark County's first government surplus auction of 2019 is just around the corner and the preview and pre-registration begin next week.
Fundraiser for 'Friends of Literacy' happens ahead of Bachelor Auction  WATE 6 On Your SideMoney raised tonight as we get closer to a bachelor auction, helping Friends of Literacy.
HELPING HAND AUCTION | Local News  Paris Post IntelligencerThe Helping Hand radio auction raised $6014 on Monday and $7367 on Tuesday for a year-to-date total of $272185.
Gujarat solar auction: UPC Energy Group, Adani Green Energy, ReNew Power winners  Economic TimesOrange Renewable and ReNew Power won 120 MW and 105 MW at Rs 2.67 and Rs 2.68 in the auction.
Fabelo's work for auction at the XXI Habano Festival  Prensa LatinaHavana, Feb 20 (Prensa Latina)Painting Smoke in the Eyes of Cuban artist Roberto Fabelo was auctioned in Havana for 122,500 dollars during in the Habano ...
Spectre International faces auction over Sh7.7 million debt  Daily NationBetric Ltd says its operations have been affected due to delay in settling the debt.
Industry Stunned as Mexico Cancels Clean Power Auction  Greentech Media NewsMexico's renewables sector is reeling from the cancellation of an upcoming clean energy auction and the likely handing of power back to state entities.
Government to auction PPAs to revive 10,000 MW of stressed power plants  Economic TimesNew Delhi: The government expects to put 10,000 MW of stressed power assets on track through auctions, starting with 5,000 MW of power purchase contracts ...
This 1989 Mercedes-Benz 560 "Pre-Merger" AMG Is Now up for Auction  HYPEBEASTIf blacked-out Mercedes-Benz vehicles are your thing, the latest auction from RM Sotheby's is going to be of interest to you. Made in 1989, the Mercedes-Benz ...
Long Chim adds Thai spice to Auction House Market  NOLA.comLong Chim began with a craving. After moving to New Orleans, May Mananya couldn't find the food she used to eat in her native Bangkok. So she started ...
Auction Report: Audemars Piguet Will Sell A Unique Royal Oak Chronograph To Benefit Clean Water Charity One Drop  HODINKEEThere might be no two words that can elicit a more intense, heart-pumping reaction from a watch collector than "piece unique." The thought of owning something ...
Monty Mason '89 yearbook pages depict Pi Lambda Phi 'slave auctions'  The Flat HatWhen Virginia Senator Monty Mason '89 (D-Williamsburg) was an undergraduate at the College of William and Mary, his fraternity — Pi Lambda Phi ...
Phillips' Upcoming Auction to Feature Acrylic Painting by KAWS | Artinfo  BLOUIN ARTINFOPhillips' upcoming auction “20th Century & Contemporary Art Day Sale” will feature an “Untitled” painting by KAWS. The sale will take place on March 8, 2019, ...
Mark Zuckerberg’s Private Hawaiian Estate to Be Opened to the Public for an Auction Next Month  MotherboardAn ironic turn of events has seemingly opened Mark Zuckerberg's secluded Kauai estate to the public next month. “Several small land parcels located within the ...
KAR Auction Services 2018 Q4 - Results - Earnings Call Slides  Seeking AlphaThe following slide deck was published by KAR Auction Services in conjunction with their 2018 Q4 earnings call.
Sean Scully's Canvas to Steal Spotlight at Phillips' Upcoming Auction | Artinfo  BLOUIN ARTINFOSean Scully's painting “Dust” will be the highlight of Phillips's upcoming London sale, “20th Century And Contemporary Art Day Sale” on March 8 2019.
Longhorn auction draws buyers from across the U.S.  The Navasota ExaminerBesides the Lone Star and the oil derrick, there is perhaps no greater symbol of Texas than the Longhorn. And focusing on its protection and advancement is the ...
Balmoral house goes to auction for first time ever  NEWS.com.auThey bought the block of land with just £3000 ($5468.63AUD).
Tiger Woods' old Scotty Cameron putter sells for big money  Golf.comTiger Woods once told his son, Charlie, there were two putters in his putting studio that were off-limits: "There's the black one I won with the Teryllium insert.
Auction canceled, buyer in place for Weathersfield Twp. complex  WYTVAuctioneer Michael Berland said the seller elected to cancel it because they believe they have a buyer in place for the property at a good price.
Southern Indiana Dragstrip Goes Up For Auction...Or Does It?  Dragzine.comThe 50-plus-year-old Chandler Motor Speedway in Indiana is slated to be auctioned in entirety, under court order, on March 20.
Auction report: 'Old-school' MF workhorses change hands at big February sale  AgrilandMonday, February 11, saw the latest monthly Cambridge Machinery Sales auction take place at Cheffins Auctioneers' sale grounds.
Three Lotus Carltons are up for sale… at the same auction  Top GearRace Retro sale includes three examples of the iconic super-saloon. Greg Potts. 20 Feb 2019. Facebook · Twitter · Google+ · WhatsApp · Mailto · Copy link.
SVN Auction Services awarded contract to support UDOT to meet mandate to sell surplus real property  GlobeNewswireSVN Auction Services builds electronic online auction platform to enable the Utah Department of Transportation to accelerate and close sales of surplus real ...
Donations sought for Arts Council auction  HubcitySPOKES.comThe Petal Arts Council was reinstated about a year and a half ago – in October 2017 – and over that time, members have worked to promote the arts and ...
Manager Auctions Manager Of The Month Award In Aid Of Fishermen's Mission  Official Grimsby Town WebsiteManager, Michael Jolley is auctioning his Sky Bet League Two Manager of the Month award in aid of Fishermen's Mission.
Rarest US bills in existence set for multimillion-dollar auction  New York Post Three exceedingly rare 19th century US currency notes are expected to sell for a combined $7 million when they are auctioned off next week. One of the unique.
Buy Your Sweetheart A $500K Heart-Shaped Meteorite That Could Have Destroyed Siberia This Valentine's Day  FortuneChristie's is auctioning off a heart-shaped meteorite that crashed into Siberia's Sikhote-Alin mountains on Valentine's Day.
Missing Ryan's Buffet? Buy some of the assets from the restaurant in an auction  The Evening SunAnother Hanover favorite eatery closed. Ryan's Buffet, at 314 Eisenhower Dr., closed to accommodate the end of its lease and the remaining assets are now up ...
Yields mixed at TDF auction  Manila BulletinWith more liquidity in the system, the central bank's weekly term deposit facility (TDF) had higher bids this week of P80.89 billion versus the previous ...
Joseph FFA Alumni Association Dinner and Auction | Announcements  Wallowa County ChieftainCome support the Joseph FFA Alumni Association on Thursday, March 7, at the Cloverleaf Hall in Enterprise.
Mexico cancels fourth energy auction  pv magazine InternationalAfter being “temporarily suspended” in early December, Mexico's fourth long-term energy auction has been cancelled. The government said the action was ...
Gordy's sells store in Ladysmith; five others remain up for auction March 6  Chippewa HeraldThe Gordy's Market Inc. grocery store in Ladysmith has officially been sold.
iDealwine notes rise of cult natural wines at auction  The Drinks BusinessOnline auctioneer iDealwine has said that it has noticed a mounting increase in sales of natural/low intervention wines are on the rise on its platform.
Farmers threaten to boycott goat auction over NHIF cuts  The Star, KenyaBaringo farmers have threatened to boycott goat auctions because of mandatory National Hospital Insurance Fund deductions. A total of 2590 goats were sold in ...
Auction Preview: Post-War and Contemporary Art Day Auction at Christie's, London, Mar 7  BLOUIN ARTINFOWhat: Post-War and Contemporary Art Day Auction. Where: Christie's, St. James's, 8 King Street, London. When: Mar 7, 1:00 PM. Public Viewing: 2 Mar, 11am ...
Auction report: 'If she's not blue, she just won't do!'  AgrilandCheffins held an 'on-site' farm machinery auction in Cambridgeshire (England) earlier this month – on February 5. It was run on behalf of BC & DM of Risely ...
Tata Teleservices offers to surrender spectrum allocated without auction  Economic TimesNEW DELHI: Tata Teleservices has offered to surrender spectrum allocated to it without auction in around 15 circles before its merger with Bharti Airtel is ...

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