Live Auctions on Mondays , Wednesdays and Fridays at 1pm and 3pm There is now an auction at 8pm on Fridays. Kindly fund your wallet to Bid.

Friday
Mar 31, 2023 13:00:00
TOP TABLE F: ₦ 75,000.00
Bid Value : ₦ 350.00
Add to Wishbid
Hammer Price: ₦ 1,500.00

ALL-IN-ONE DESK

Friday
Mar 31, 2023 15:00:00
ALL-IN-ONE DESK: ₦ 250,000.00
Bid Value : ₦ 350.00
Add to Wishbid
Hammer Price: ₦ 5,000.00

SAMSUNG PHONE+P

Monday
Apr 03, 2023 13:00:00
SAMSUNG PHONE+P: ₦ 130,000.00
Bid Value : ₦ 350.00
Add to Wishbid
Hammer Price: ₦ 2,600.00

TOP TABLE FRIDGE

Friday
Mar 31, 2023 13:00:00
Item Value: ₦ 75,000.00
Bid Value : ₦ 350.00
Add to Wishbid
Hammer Price: ₦ 1,500.00

ALL-IN-ONE DESKTOP

Friday
Mar 31, 2023 15:00:00
Item Value: ₦ 250,000.00
Bid Value : ₦ 350.00
Add to Wishbid
Hammer Price: ₦ 5,000.00

SAMSUNG PHONE+POWER BANK+EARPOD

Monday
Apr 03, 2023 13:00:00
Item Value: ₦ 130,000.00
Bid Value : ₦ 350.00
Add to Wishbid
Hammer Price: ₦ 2,600.00

Blogs

How is the progress of the E-auction business in Nigeria?

What is an E-Auction?

An auction is a sales event where prospective buyers place bids on assets, goods, or services. An auction can be performed in two formats: the closed or the open format. It is prevalent among buyers because there is a strong belief that they will get a good deal in the buying and selling of assets. In Nigeria, the auction business and its online counterpart, the E-auction, is still a developing method of transacting the sales of goods and assets. An auction that is conducted over the internet is called an E-auction.

How do E-auctions work?

E-auctions work the same way as conventional auctions, only that it is conducted online. As stated previously, the format an auction can take is either closed or open. In the open format, bidders are aware of the bids that have been submitted. All interested buyers are aware of the competing bids amounts and will continue to bid until someone is declared the winner. The bid can also end when buyers drop out of the bidding.

On the other hand, bidders are not aware of the bids that are submitted in the closed format. In business transactions that include the sale of company assets, a company, or any like transaction, closed auctions are preferred. Interested parties will submit bids to the seller, who decides to whom the sale should be made.

Before the start of an auction, buyers are allowed a preview period. They use this period to examine the conditions of the items on sale. Once they have viewed the items, they have to register with the auctioneer. This registration requires the buyer's contact and identification details, and a bidder card is given to every registered buyer for identification purposes. It is up to the auctioneer, or the seller as the case may be, to open the bid at a reasonable price, and then the bidding starts. The bid ends when there are no more bids, and the buyer with the highest bid gets the item.

What are some types of E-auctions?

English Auction
It is the most popular auction type and is also known as the open outcry auction. Here, participants bid against each other with every subsequent bid higher than the previous one. As long as there is still a bid, the auction for the item continues. An art auction prefers this approach.
Dutch Auction
In this type of auction, the auctioneer sets a high asking price and lowers the bid until a buyer accepts the price or when the seller's reserve price is met. The goods are arranged based on the bid order, where the first highest bidder picks their items, followed by the second and the third, until the order has been exhausted. This type of auction is preferred for perishable goods and sometimes, for investment securities.

E-auction and its presence in Nigeria

An online auction is an auction held over the internet. It is similar in almost every way to the conventional method of holding an auction. Though it was not initially accepted, it has become more prevalent in present-day trading. It includes business to business auctions, business to consumer auctions, and consumer to consumer auctions.

The progress of the E-auction business in Nigeria has been somewhat slow. This is due to the deficiency in the economic growth of the country. However, businesses, like Ees Auction, have been springing up, hoping to bridge this gap. Ees Auction, the first of many such businesses, allows buying and selling of goods under an approved auctioning atmosphere. It is a scam-free, reliable, safe, and trustworthy platform to sell and buy assets. It is best to visit our website or follow us on our social media handles, like Instagram, @eesauction to put up assets for sale or buy a good.

2022-01-28 08:15:36

What are the benefits of e-Auction?

Online transactions are the future of tomorrow's global economy. Nothing is more appealing than buying and selling goods without stress and discomfort while having immense shopping options before you. This is, perhaps, the most inviting and endearing benefit of E-auctions. E-auctions allow buyers and sellers to bid or put up assets for bids at their convenience. They do not need to leave their homes' comfort, save time and energy, and are more comfortable when making transactions. What is an E-Auction? An E-auction is a sales event where potential buyers place bids on interested sellers' assets and goods online. Its operation method is no different from the conventional approach to auctioning, only that it is done online. It can be performed both in closed and open formats, just like the traditional approach. How do E-auctions work? E-auctions work the same way as conventional auctions, only that it is conducted online. An auction can take two formats: the closed and the open format. In the open format, bidders are aware of the competing bids amounts and will continue to bid until someone is declared the winner. The bid can also end when buyers drop out of the bidding. However, bidders are not aware of the bids of their competitors in the closed format. A closed format of auctions is preferred in business transactions that include selling a company or its assets. Interested buyers have to submit their bids to the seller, who then decides the winner. Buyers are allowed a preview period before the start of the auction. This period will enable them to examine the conditions of the items on sale. To continue the process, they have to register with the auctioneer. This will require the contact information, like address, phone number, et cetera, of the buyer, and a bidder card is given to every registered buyer as the final procedure in the registration process. The auctioneer opens up the bid at a reasonable price, allowing every buyer to place their bids until a winner is evident. The bid ends when there are no more bids, and the buyer with the highest bid gets the item. Read More About: How is the progress of the E-auction business in Nigeria? What are the benefits of E-auction? Online auctions offer a win-win situation to both the buyer and the seller. For the buyer, it is easier to watch out for upcoming auctions and cheap deals. The seller, on the other hand, uses the auction as the most transparent method of getting the assets at an immense exposure. Other benefits include; E-auction is not location restrictive E-auction allows buyers to bid from anywhere in the world—it has no geographical boundaries. On the other hand, a seller can showcase the asset to millions of people conveniently and easily. The item to be sold is made available online, and interested buyers from anywhere in the world place their bids. The bid ends when the seller is comfortable with a buyer's offer. It levels the field while attracting more interested buyers Online auctions help to promote confidence in the value of the item to be sold. Its concept also makes it impossible for unserious to get anywhere. Those who bid online do prior research and have analysed the real value of the product, and as they say, preparation leads to success, they are most likely to buy it. All goods can be auctioned with E-auction You can put up anything for sale with E-auction—clothes, foodstuffs, medicine, cars, et cetera. It benefits the seller as there is increased confidence that their goods will be purchased. For the buyer, there are so many options and goods to be purchased. E-auction has no time limit There is no time restriction to bidding online. Usually, the conventional auction has a time limit and cannot be carried on for a long time. However, one benefit of e-auction is that a buyer can bid at night, even when the seller has been long asleep. The transactions are quick and reliable The conventional auction can be tiresome, boring, dull, and time-consuming. The E-auction, on the other hand, is delay-free and does not allow for the dull methods. It is also faster and more reliable than the traditional method of auctioning. It is clear that the benefits of E-auction far outweigh its conventional counterpart. In truth, E-auction is the future of the auction business. Our platform, EesAuction, provides a safe, secure, and reliable platform for buyers and sellers alike. This, in itself, makes us a dependable company to trust with your goods.

2022-11-29 06:41:10

How is the progress of the E-auction business in Nigeria?

The Nigerian business terrain is going through a developing phase. Because of this, many businesses long appreciated abroad are only just starting to find their feet. One such business is the auction business. An auction is an event where buyers place bids on assets and goods. In today's world, the concept of the conventional auction has shifted to include online auctioning. The purpose of online auctioning, also known as E-auction, is to sell goods, just like in a regular auction, but over the internet. However, E-auction is a concept not understood by many in Nigeria. The developing nature of the economy has slowed its progress, and it still has a long way to go to become a household name. What is an E-Auction? An auction is a sales event where prospective buyers place bids on assets, goods, or services. An auction can be performed in two formats: the closed or the open format. It is prevalent among buyers because there is a strong belief that they will get a good deal in the buying and selling of assets. In Nigeria, the auction business and its online counterpart, the E-auction, is still a developing method of transacting the sales of goods and assets. An auction that is conducted over the internet is called an E-auction. How do E-auctions work? E-auctions work the same way as conventional auctions, only that it is conducted online. As stated previously, the format an auction can take is either closed or open. In the open format, bidders are aware of the bids that have been submitted. All interested buyers are aware of the competing bids amounts and will continue to bid until someone is declared the winner. The bid can also end when buyers drop out of the bidding. On the other hand, bidders are not aware of the bids that are submitted in the closed format. In business transactions that include the sale of company assets, a company, or any like transaction, closed auctions are preferred. Interested parties will submit bids to the seller, who decides to whom the sale should be made. Before the start of an auction, buyers are allowed a preview period. They use this period to examine the conditions of the items on sale. Once they have viewed the items, they have to register with the auctioneer. This registration requires the buyer's contact and identification details, and a bidder card is given to every registered buyer for identification purposes. It is up to the auctioneer, or the seller as the case may be, to open the bid at a reasonable price, and then the bidding starts. The bid ends when there are no more bids, and the buyer with the highest bid gets the item. What are some types of E-auctions? English Auction It is the most popular auction type and is also known as the open outcry auction. Here, participants bid against each other with every subsequent bid higher than the previous one. As long as there is still a bid, the auction for the item continues. An art auction prefers this approach. Dutch Auction In this type of auction, the auctioneer sets a high asking price and lowers the bid until a buyer accepts the price or when the seller's reserve price is met. The goods are arranged based on the bid order, where the first highest bidder picks their items, followed by the second and the third, until the order has been exhausted. This type of auction is preferred for perishable goods and sometimes, for investment securities. E-auction and its presence in Nigeria An online auction is an auction held over the internet. It is similar in almost every way to the conventional method of holding an auction. Though it was not initially accepted, it has become more prevalent in present-day trading. It includes business to business auctions, business to consumer auctions, and consumer to consumer auctions. The progress of the E-auction business in Nigeria has been somewhat slow. This is due to the deficiency in the economic growth of the country. However, businesses, like Ees Auction, have been springing up, hoping to bridge this gap. Ees Auction, the first of many such businesses, allows buying and selling of goods under an approved auctioning atmosphere. It is a scam-free, reliable, safe, and trustworthy platform to sell and buy assets. It is best to visit our website or follow us on our social media handles, like Instagram, @eesauction to put up assets for sale or buy a good.

2022-01-28 08:15:36

What are the benefits of e-Auction?

2022-11-29 06:41:10

What are the services offered by EesAuction?

EesAuction is an online auction platform where different types of goods are displayed to be sold. Buyers have to bid competitively on these goods, and the one with the highest bid gets the item. EesAuction, the first of its kind in Nigeria, is such a platform that combines e-Commerce, e-Auction, and e-Empowerment to give an optimal customer experience to its users. What is e-Commerce? e-Commerce, also known as internet commerce, is the buying and selling of goods and services over the internet. The online transfer of money and other payment means are also an intricate part of the e-Commerce system. It is different from e-Business, which entails all aspects of operating an online business since it deals only with the transaction of goods and services. In today’s world, e-Commerce has progressed to make the visibility of goods up for sale clearer while making it easier to transact business for buyers. With e-Commerce, goods are visible to many potential buyers, narrowing down the possibility of an item being sold. e-Commerce is one of the three primary services offered by EesAuction. They have managed to build their company around the models of e-Commerce, making it easier to trade on their platform. Types of e-Commerce models: There are four significant types of e-Commerce models, and they describe the relationships between consumers and sellers. They are; Business to Consumer model (B2C) In this model, transactions are made from a business or a brand to an individual customer/ consumer. Business to Business model (B2B) This is a transaction between one business to another business in need of that service or product. Take, for example, a business that sells computer software for other companies to use. Consumer to Business model (C2B) In this model, consumers sell personal products or services to a business or organisation for an agreed fee. Consumer to Consumer model (C2C) Here, a consumer sells products or offers a service to other consumers. Take, for example, the sale of household furniture from one consumer to another. EesAuction have been able to incorporate the majority of these models on their platform. This allows both sellers and buyers alike to have an optimal experience during the auction. On the platform, items can be put up for sale by individuals or businesses and bought by a company or an individual. Read More:What is EesAuction? What is e-Auction? An auction is a sales event where potential buyers place bids on goods and items that range from clothes to art pieces, et cetera. Therefore, e-Auction is an auction that is performed over the internet. The benefits of e-Auction make it a more appealing venture than its conventional counterpart. In a country like Nigeria, EesAuction has excellent potential to succeed because of the people’s awakening to the benefits of online marketing. Some benefits of e-Auction are; Lower prices e-Commerce generally provides savings of less than 10% when compared to previously negotiated prices. It is a time-saving venture With e-Auctions, negotiations are conducted at the same time with all suppliers. This allows the process to be completed in less time than its traditional counterpart. Market transparency is assured It is expected that there are no favours in online auctioning. All bidders are given the same information and details and are bidding against the same product. Process improvement With e-Auction, there is a structured and uniform working procedure for all customers. Bids are accepted only within the system, with all data stored in a single place. EesAuction tries to ensure that all transactions are performed under a reliable, secure, and safe atmosphere, where every customer and seller is respected. With their well-structured working procedure, an optimal experience of online shopping is guaranteed. What is e-Empowerment? Empowerment in business means more authority is given to people. It implies creating conditions where everyone involved in the transaction process can exploit their potential fully. For employees, it means tweaking the working conditions to make them comfortable and more productive. For consumers, empowerment implies creating a platform that allows consumers to have an optimal experience when they shop. When a company invests in empowering its customers, it creates a customer-centric atmosphere that allows traders and buyers alike to relax and transact more comfortably. e-Empowerment is the ability of businesses to translate this seemingly offline characteristic to their online platforms. EesAuction, as part of their corporate social responsibility, seeks to ensure that their customers are empowered through the use of their platform. With these services, our company, EesAuction, makes sure that consumers get value for their time, shop well and comfortably, and are empowered as they do it.

2022-11-29 07:30:37

What is EesAuction?

EesAuction is an online E-auction platform on which goods, classified under industries such as technology, automobiles, textiles, et cetera, are auctioned. It is the first of its kind in Nigeria. EesAuction aims to improve sellers' visibility to interested buyers while providing a platform that allows buyers to have a stress-free experience while shopping. About EesAuction It is a company that was established in 2020 to improve the shopping experience of both buyers and sellers online. They aim to enhance the visibility of a sellers' goods to interested buyers, while making sure that these items are available and affordable. An auction is an event where buyers place bids on assets and goods. Online auctioning, also known as E-auction, is the conventional auction conducted over the internet. However, the concept of E-auction is not understood by the majority of the Nigerian populace. This is because of the slow progress of economic development in the country, which implies that it still has a long way to go in the country. Many businesses have begun to invest in the online market's opportunities since the advent of the internet. Goods from different sellers are displayed online for interested buyers to get. This enterprise's benefit is that interested buyers from anywhere in the world can buy these displayed goods at reasonable rates. The auction, a complex form of shopping, has also been translated from its traditional form to incorporate the online market's intricacies fully. This transition birthed what is now called online auctioning or E-auctioning. Online auctioning can revolutionise the online business market in Nigeria though it is a late entrant. It is to fulfill this need that EesAuction was born. It is a company that seeks to address the gap between public sales and the purchasing character of interested buyers. Its services cut across concepts of e-Commerce, e-Auction, and e-Empowerment. The operations on the EesAuction platform are similar to the standard processes involved in auctioning. A dedicated company they have the vision of becoming a household name in Nigeria by 2022. They hope to be the most reliable and dependable E-auction company in Nigeria, Africa, and globally. To achieve this, they have to improve people's confidence and participation in the auctioning process while making sure that originality, transparency, customer satisfaction, among many other virtues, are their creed. How do you bid on EesAuction? With EesAuction, bidding is time-based, which implies that bidding will commence at a set time, and the timer will countdown to zero. It is important to note that the item to be sold is displayed online days before the bidding is set to begin. This period is known as the previewing period that allows interested buyers to get acquainted with the item they want to purchase. To start to bid on the EesAuction platform, buyers will have to follow some steps to make them eligible for bidding. First, a buyer must register and sign-up on the platform, creating a profile on their page. An e-wallet will be provided that the buyer has to fund with #1000 to be an eligible bidder. When the item of interest has been marked, the buyer has to click on the bid button to commence bidding. The last valid bidder with the highest bid is declared the winner of the auction. All bidders must remember that the bid value is deducted from their wallet, and it is non-refundable. After the bid, the highest buyer, who is also the winner of the bid, is expected to close the deal within three working days to a specified account owned by EesAuction. The payment for the goods will be verified within 24-hours of a working day. The winner of the bid will collect the item from a delivery centre designated for EesAuction within the city the buyer registered. It is important to note that the buyer's right to the auction is foreclosed if the bid is not closed within three days. It is also important to note that every good won must be claimed within five working days from the bid's date of closure. If the buyer cannot claim the item within this time, EesAuction must be contacted within 24 hours before the expiration date. When a buyer refuses to claim the item, EesAuction discards their obligation to the buyer, and they do with the item as they see fit. Buyers may decide to close their account with us and will be allowed to withdraw 80% of their balance, where the 20% is non-refundable. It is important to note that we will not permit the withdrawal if it is linked to transactions that allow the transfer of money from one payment method to another.

2022-01-28 08:11:06

E-Auction Will Support To Outsource Electronics Manufacturing?

Since the late 1990s, the manufacturing of electronics E-auctions has been used. With the global adoption of the internet, several companies found opportunities to use this technology to increase their request for quote (RFQ) process by creating virtual "gateways" between them, the supply chain, and the buyer. The increased e-auctions over the next few years. Fast forward to 2016 an (IoT) Internet of Things is now a reality, with people, devices, and systems more associated than ever and the e-auction tool doesn’t appear to have maintained its start appeal. When e-auctions are properly executed and can be a valuable tool for purchasing experts. They can be an effective way for the original equipment manufacturers (OEM) and a variety of suppliers to communicate and negotiate. E-auctions have the potential to save a lot of money while also speeding up the RFQ process by encouraging suppliers to compete. Right Place, Right Time? The primary goal of an e-auction is to obtain the greatest possible market price. The procedure may help shorten the time it takes to obtain this pricing, but let's not fool ourselves into thinking that these auctions are utilized for anything else. And there's nothing wrong with taking this strategy. With common contrast sites popping up on a weekly basis, we all now have the luxury of comparing entire markets for the very best "deal" at the click of a button. Regardless of the value or complexity of the product, or indeed the market size and levels of competition, e-auctions were seen as a quick way to get the best deal. When Could an E-Auction Be Effective? When a buyer is trying to negotiate commodity items that are price-driven and readily available inside a market with a consistent specification, e-auctions are a good option. These are some of them: • Fasteners • Sheet Metal • Stationery • Brochures, Flyers and Other Marketing Printed Items • Certain Electronic Component Packages • Paper • Computer Consumables These things are quite simple to obtain, and there are a plethora of providers on the market who are more than capable of doing so. The most competitive pricing will almost likely seal the transaction, and the overall risk to the company of selecting a substandard supplier is negligible. What if the supplier doesn't deliver as promised? It's simple: Printed circuit board assemblies (PCBAs) are now considered a commodity by many OEMs wishing to outsource their electronics manufacturing. The electronic components specified in the Bill of Materials (BOM) are usually well defined and available through a variety of franchised distributors, and there are a significant number of EMS providers with the production equipment needed to populate boards. Conclusion: E-auction will help to boost the manufactures and businesses to build their business.

2022-01-28 08:10:18

Why E-Auctions Are A Must In 2021: Auction As a Services:

In economically challenging times i.e. COVID-19 pandemic, the main priority for purchasing is to reduce costs. Thus, it is no wonder that the number of buying auctions as a negotiation option to award a tender is increasing. After all, rivalry at an auction can considerably decrease the purchase amount. Due to the auctions are no longer held on-site, increasing digitalization in the professional environment, but are increasingly organized online. This is an optimistic growth for the purchasing department - electronic auctions are tremendously efficient, fast and also decrease process prices. In digital purchasing, the "auction as a service" (AaaS) approach leads to major cost and productivity efficiencies. Digitization in buying conserves budgets, strengthens transparency, and saves time and thus compliance in companies. What is Auction as a Service (AaaS)? How you or your company can conduct an e-auction: "Auctions as a Service" providers like Synertrade offer a digital, objectively worked marketplace where buyers and suppliers come together under fixed procedures. The method of AaaS service providers consists of three components: Auction design consulting Training of suppliers & monitoring of the auction Auction software usage This method removes the need for complex software execution. Employees do not require to be trained; the application is done via mutual browsers with one account. It is billed per auction, which outcomes in an immediate Return on Investment (ROI).The goal of the online auction is to upsurge competition in an economical manner. Suppliers can contribute in an electronic auction regardless of their location and they can time limit the auction to rapidly get the best possible cost. For whom is Auction as a Service suitable? In principle, online auctions are suitable for each industry or sector. There Are Four Factors That Determine Whether Your RFP Is Suitable For An E-Auction. Number of suppliers Shopping cart Tender Spend volume Advantages of Auction as a Service This brings numerous advantages. The strengthening of the supplier's competition produces optimal purchasing conditions that lead to a decrease in prices. The digitization of the auction procedure offers the opportunity to filter quickly and easily by conditions, e.g. proximity to the supplier. Companies also advantage from savings in effort and time. There Are Six Steps To Making Your Online Auction Popular: Specification Preparation Training Auction forms with Auction as a Service Verifiability Efficient use of the service provider Conclusion Auction as a service is a major part of purchasing and become more relevant in the years to come. Companies that have recognized the auction are already using it. The several implemented schemes of companies to effectively decrease purchasing prices. If you want to future-proof your purchasing, book a free session with us here.

2022-01-28 08:06:01

Empowerment Services in Nigeria

There are several empowerment services in the Nigeria. Some services are private and some are government owned. The major aim of these empowerment services are to develop and empower the Nigeria youth. In this blog I will share with you the top 6 empowerment services in Nigeria and how you can take advantage of them. Npower Empowerment Services The Federal Government launched this new service program to decrease youth unemployment in Nigeria area. This program is involved in the massive placement of 500000 trained graduates. Youth Empowerment and Development Initiative (YEDI) for Empowerment Services This youth empowerment services was accepted in 2011. The aim of this is to motivate youths of the Nigerian society in such a way as to decrease the rates of stigma and HIV in the lives of youths and young ones of Nigeria. African Youth Empowerment Nigeria (AYEN) for Empowerment Services The function of AYEN this organization is to support the youths of Nigeria to develop in a way that will make them efficient in the society. Their programs include workshops, seminars, vocational programs etc. Young Entrepreneurs of Nigeria (YEN) for Empowerment Services This YEN organization offers wide-ranging management programs and training. The core of this program is to support youths of Nigeria to improve their personal attributes. Youth Empowering People (YEP) for Empowerment Services This specific program has assisted to shape the Nigerian youth mindset particularly those of the Niger Delta area and a good number of these youths have been put into significant jobs and this has enabled them to decrease rate of unemployment and poverty. Subsidy Reinvestment and Empowerment Program (SURE-P) for Empowerment Services This subsidy reinvestment and empowerment program service is also known as SURE-P is a services that is formed by the Federal Government of Nigeria in the time of Goodluck Ebele Jonathan as President of Nigeria.

2022-01-28 08:03:21

6 Facts You Must Know About Auction Sales in Nigeria

As we all know, auction sale involves sale of products and goods via a public exhibition for the general public, and the highest bidder takes the goods home. Nigeria being a developing country, faces several challenges, the major one being a struggling economy. This challenge can be a boon for auctions in Nigeria or can also turn out to be a disadvantage. Let us understand the facts one must know before auctioning in Nigeria, which can be either a benefit or challenge. 1. Short Selling Time Nigerian auction sale can be boon to both buyers and sellers as it can be done in a very short period of time. For an auction, several buyers are available at a place as the advertisements are done through various channels to interest the buyers. However, traditional selling takes a long time to find the right buyer as only few interested buyers are present at the point of sale. 2. Unsuccessful Publicity Nigerian auctions are usually not publicized through proper advertisements so that the interested buyers can bid their prices. This can lead to few buyers available at the location biding the prices that can only be ridiculed. 3. Privatization of Government Industries Privatization of government industries in Nigeria can be an advantage to Nigerian economy due to its epileptic economy. This can be because it lifts government’s burden and they can secure highest price which can be channeled to other industries. This way they can boost they economy and provide better life to Nigerian population. 4. Products Can be Sold as they are In auction sale, products can be sold in the conditions they are available in without any repairs to be performed. This can be an advantage to the sellers there is no need for warranty and also for sellers as they are bought at half of the selling price. 5. Lack of Knowledge about Technology and Internet Nowadays, majority of the auction are carried on auctioneer’s or company’s website which require online transactions. Nigerian population is not tech-savvy and might not understand the process. This can be serious challenge to auctions in Nigeria. 6. Healthy Competition Auction sales are conducted on level ground without any preference to gender, race, or status. This provides a healthy competition among the bidders where anyone with highest good wins the bid.

2022-01-28 08:01:16