Auction platforms have become an important element of the internet community.
The name eBay is certainly a synonym for this success. Due to its enourmous reach, the world’s most successful internet auction platform is interesting for both private and business bidders.
What they have all in common is the aim of the sellers of an auction to realize an adequate price. The question is: “How to obtain an optimal (maximum) price?”
At this, many more or less competent auction experts recommend shorter or longer durations, lower or higher start prices, terminations of auctions on weekends or week days, and many other variants that will surely guarantee the success. With in the scope of the DMC 2006 Contest we want to answer this question scientifically in using of anonymous data of the eBay Marktdatenprogramm.
The DMC Contest task 2006 consisted in developing a Data Mining model, which predicts for each new auction whether the actual sales revenue is higher than the average sales revenue of the product category.
1st place: Moritz Schlie, Universität Karlsruhe
Simon Honc, Universität Karlsruhe and Jens Salomon, Universität Karlsruhe
Andreas Jaeger, Universität Karlsruhe
Stefan Heinje, TU Darmstadt