Auctions have a long history, tracing back to 500 B.C. It is a popular method of placing value on items or services that are considered to be invaluable, i.e. historical pieces or art.
eBay is an online marketplace that hosts sellers ranging from large companies to individuals. This multi-billion dollar company has various revenue models including listing and advertising fees. Consumers are connected globally to buyers which either sell products through auction or fixed-pricing.
This model works well for selling items or services that are considered to be one-of-a-kind, unique, rare, or invaluable. This includes antiques, historical pieces, art, livestock, and land. This model is also suitable for second-hand or used items such as vehicles, bicycles, electronics, or appliances.
One example is Schmidt's Antiques