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After the C2C site sets up the system in which bids could be placed, items can be put up for sale, transactions can be completed, seller fees are charged, and feedback can be left, while the C2C site stays in the background.
For example, at the end of an auction, the C2C site notifies the buyer via e-mail that he or she has won.
In customer to customer markets, the business facilitates an environment where customers can sell goods or services to each other.
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In 2003 US classifieds market totaled $30.00 billion for both newspapers and online classified ad services.
The oldest auction house is Stockholm Auction House (Stockholms Auktionsverk), which was established in Sweden in 1674.
Customer to customer (C2C) markets provide an innovative way to allow customers to interact with each other.
Traditional markets require business to customer relationships, in which a customer goes to the business in order to purchase a product or service.
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.