Internet has become the most important part of our lives. We can do almost anything and everything “online". Internet can provide us with the most convenient ways of doing almost anything. We can be sitting at home at the same time we are selling out used cell phone to someone on the other side of the planet.
Online auction sites is just one of the most amazing internet phenomenons. Although, online auctioning poses fraud threats to both sellers and buyers, it is the still the most growing internet field. Part of the reason for its fast growth could be due to the fact that almost all the auction sites offer brand name products for cheap prices: this works as an incentive for customers to overcome their fear of fraud and buy the products that they desire for cheaper prices than their local stores.
There are many online auction sites that list all kinds of products, but there are also some sites that only target one category; for example, consumer electronics. There you can find everything from a cell phone battery to home theater as it covers all the consumer electronics.
This kind of sites are more successful and have less competition since they are targeting one category. Other sites that target a wide range of categories have a lot of competition and therefore struggle to survive. Of course, the biggest competitor is eBay. eBay is one big auction monster that makes all other auction sites look insignificant. Hence those insignificant small sites struggle to exist, because not only they are competing with the giant they are also competing with each other. However, sites that are designed around a niche are better off than sites that are targeting each and every product in the market.