Auctions however, have been recorded as far back as 500 B. Deriving from the Latin word augēre, which means to "'increase' (or 'augment')".
Auctions have since widely used a method of liquidating assets, and has evolved into many different variations.
This facilitates easy exploration for buyers and enables the sellers to immediately list an item for sale within minutes of registering.
When an item is listed on a C2C site, a nonrefundable insertion fee is charged based on the seller's opening bid on the item.
The C2C site also e-mails the seller to report who won and at what price the auction finished.
At that point it's up to the seller and buyer to finish the transaction independently of the C2C site. Although it's free to shop and place bids, sellers place fees to list items for sale, add on promotional features, and successfully complete transactions.
Specialty marketplaces have also been added to serve the specialized needs of buyers and sellers.
While many companies usually operate in one or more of these areas, Customer to Customer businesses operate only within that specific area.After the C2C site sets up the system in which bids could be placed, items can be put up for sale, transactions can be completed, seller fees are charged, and feedback can be left, while the C2C site stays in the background.For example, at the end of an auction, the C2C site notifies the buyer via e-mail that he or she has won.Customer to customer (C2C) markets provide an innovative way to allow customers to interact with each other.Traditional markets require business to customer relationships, in which a customer goes to the business in order to purchase a product or service.