Cross-Bidding In Simultaneous Online Auctions

Some significant insights associated with cross-bidding strategy for on-line auctions are discussed. Online auctions is transforming the way people sale or purchase goods and services on the Internet. Online auctions are used by buyers because they can aid in price discovery for hard-to-price products like used merchandise, enable market-making for geographically dispersed buyers and sellers, and provide buyers with an opportunity of winning an item instead of purchasing it. Cross-bidding strategy allows bidders to move between multiple simultaneous auctions of the same product. Cross-bidding also refers to bid by a given bidder across simultaneous and competing auctions with similar ending times. The cross-bidder's is aimed to win a single product at the lowest possible price by continually monitoring and moving between multiple auctions. Experts say that cross-bidding strategy can provide better auction results compared to traditional bidding.