What do you want to see in an auction house?
Do you want full disclosure or anonymity? Full disclosure allows people to ask why so-and-so is bidding on such item. Anonymity brings up the question of shill bidding. Is there a win here?
Fees and Catalog. With auction houses that have a reputation, they can bring more items to the auction but this also allows them to raise fees. Creating a following and notoriety is hard work. Up and coming auctions have seen that 20% fees seem like too much to the bidder, and there is opportunity in the market, but success is hard to come by when users are unwilling to switch.
Auction rules. Do you require a bid in order to bid in extended bidding? Does extended bidding apply to the entire lot or just the individual item? Do we show you how much time is left of keep you guessing?
Think about how you want your own auction house to run? What are the parameters? We are curious to hear everyone’s opinion on the matter.