Auction Marketplace Legal Terms
The overall concept of auction eCommerce is very detailed. Depending on the business model, it can vary from selling high-dollar items such as collectibles, real estate, or industrial equipment to relatively low-cost items. These items could be ordered only in high volumes or could be limited collector's items.
The orders being sold in bulk could be industrial items, old items, or items no one would otherwise purchase, etc. It could also be an attempt to clear out the inventory. So, there are a lot of scenarios where you will be dealing with different types of products.
Based on those scenarios, the legal terms that make sense to conduct the auction under can vary dramatically. Even the agreement between the bidders and the seller is going to be widely different. For instance, penny auctions function differently from forward auctions or a "buy now" auction, as they all have different rules.
Therefore, within the marketplace model, it is important to use an auction eCommerce platform that allows you to customize and cater the business logic and workflow of each store. Then, the sellers within those stores can modify the terms and capabilities for how they conduct their auctions.
There should also be customizations for brand and theme, workflows and business logic, terms, and policies, and possibly some user interface changes.