Auctions have since a widely used method of liquidating assets, and has evolved into many different variations.
Companies such as Craigslist, e Bay, and other classified and auction based sites have allowed for greater interaction between consumers, facilitating the Customer to Customer model.
Furthermore, as it becomes more economical for individuals to network on the internet via social websites and individual content creation, this marketing model has been greatly leveraged by businesses and individuals alike.
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There are many different classifications of marketing.
From Government to Business (G2B), Business to Business (B2B), Business to Consumer (B2C), to Customer to Customer (C2C).
Normally used in text based print, classified advertisement is a now a strong vertical market that allows customers to communicate their needs with each other.
In 2003 US classifieds market totaled .00 billion for both newspapers and online classified ad services.
At that point it's up to the seller and buyer finish the transaction independently of the C2C site. Although it's free to shop and place bids, sellers place fees to list items for sale, add on promotional features, and successfully complete transactions.
Many C2C sites have expanded and developed existing product categories by introducing category-specific bulletin boards and chat rooms, integrating category-specific content, advertising its service in targeted publications and participating in targeted trade shows.
The oldest auction house is Stockholm Auction House (Stockholms Auktionsverk), which was established in Sweden in 1674.