E- AUCTIONS Presentation by Jyotindra Zaveri E-Business Consultant

W HAT IS AN E -A UCTION ? Auctions are common in markets where the goods sold are valuable (like art) or when their prices can't be easily determined. The process of an auction aims to find a fair price for the goods by identifying buyers who need them the most. Such auctions are called forward auctions. In forward auctions buyers compete with each other by placing bids for the goods to be sold. Online Auctions 2

For example, metal junction, pioneered the concept of e- Auctions for steel by moving the entire process of auctions to the Internet. With state-of-art technology and unique services to support buyers and sellers in the decision making, financing and logistics stages mJunction.com make sure that the auction tools help enterprises realize their sales and procurement goals with considerable cost savings. Online Auctions 3

W HAT DOES ONLINE AUCTION - WEBSITES AUCTION ON THE I NTERNET ? 4 Online Auctions E- Business: Online auction websites auction a diverse range of products ranging from Secondary Steel, Iron, and Chemicals to Automobiles and Idle Assets.

B USINESS MODEL - O NLINE AUCTION At assets worth Rs.7000 crore over the past decade. The benefit for buyers is that they can pickup some items cheap. Some old items on the balance sheet will not have much value (after depreciation), and there is no organized market to sale, therefore buying and selling on internet is now considered as good option to raise money (and some time profit too). Business benefit for sellers: Online auctions help attract more buyers 5 Online Auctions

R UNWAY STORY Organizations are looking for creative ways to generate money from assets that have become a liability. While converting idle capital assets into cash is a routine corporate practice, during the economy down turn, companies would like to get maximum money. Solution is to auction such items. Bhilai steel plant (Chhattisgarh) had an airplane, that was sold. Now the runway, called Nandini airstrip, was of no use. Bhilai steel would like to auction the run-way using online auction website ! 6 Online Auctions

Online Auctions 7 THANK YOU PRESENTATION BY JYOTINDRA ZAVERI E-Business Consultant