o Site must have prominent online privacy policy that guarantees that the site will provide secure link whenever a customer enter credit card details and do not sell customer information.
o Clear defined policies and procedures should be enacted upon when and if any wrong transaction occurs.
o Rating of consumers facilitate the identification of sellers who do not exist to the end of bargain.
o Fees and commissions must be mentioned on the website. Most of the sites do not charge any fees from bidders but sellers often have to pay small fees for listing the things and commission on selling anything. Therefore the bidders must compare online auction marketplace sites for the fees and commission rates to get a concept of the present rates.
o A good online auction marketplace site should have escrow services option for example PayPal. These types of services result in the buying and selling more quick by preventing buyers and sellers from becoming intermediary. The customer can directly send the small fees and payment to the escrew service, after receiving funds escrew gives instruction to sellers to ship the products. When buyer receives the products in acceptable condition, funds are used in seller via escrew service.
o A great online auction site must have the international payment and shipping option. Commercial sites support international sales.
Benefits of Online auction marketplace Sites
Online auction sites offer several advantages:
o Online auction sites do not stop businesses to carry on sales of product through traditional sales method.
o A web-based auction site also cuts down on the distribution cost of an item. It can be stored at one place till it's ready for shipping. It will likewise lessen the packaging cost of items for distribution to intermediaries for example retail stores. It will likewise protect goods from damages and keep them safe.
o Online auction also helps small businesses to market their seasonal, discontinued or damaged goods often with profits and eliminate the inventory expense to store them.
o Online auction sites open the door of international markets for smaller businesses and assistance to expand global market. That is nearly impossible to achieve via normal marketing channels.
o Online auction sites also help new business organisations that provide new products and it becomes simple to set an industry price according to supply and demand.
o These websites also assistance to find out what customers are prepared to pay without having done time-consuming expensive market research.

Disadvantages of Online Auctions

Sale do not provide buyers by having an option of personally viewing and evaluating items before purchasing. This leads to the possibility of fraud.

Another major drawback is that it is also difficult for every business to take part in online auction marketplace. Companies have to host their own auction websites and for this purpose they have to hire trained technical staff.