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On-Line Auctions: Beware of kid bids; drawbacks to online auctions

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Research on-line auctions using the Internet. Using your research, answer the questions:

Why should you beware of "kid-bids" (bids by children)?

What are other drawbacks to on-line auctions?

List websites you quote or cite at the bottom of your comments.

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Solution Summary

The solution discusses on-line auctions including why you should be aware of kid bids and drawbacks to online auctions. Websites and references are included.

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Online auction can be defined as a business transaction over the internet. In online auctions, participants bid for products and services online and the seller sells to the highest bidder of the products or service (Entrepreneur, 2012).

A child is well described to be under the age of eighteen in almost all the countries of the world. Any person under this age is referred to as a minor or a child. Children between the age bracket of eight and seventeen tend to do bids online without the consent of their parents. Online bidding requires one to sign a bidding contract. In such a contract, a ...

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