When Elliot Moskow, 21, was looking for a place to resell jewelry he’d purchased at police auctions, his first thought was to create an eBay storefront.

He did, but his items weren’t selling—and he still had to pay listing fees. The cost was too great, says Moskow, a junior at Bates College in Lewiston, Maine.

Moskow wanted an alternative, so when a friend told him about Dutch auctions—an auction style that involves starting bids high and slowly decreasing them until an item sells or goods reach their floor price—Moskwo did the logical thing: He created an online auction site based on the Dutch-auction model…

Read On: http://www.auctiva.com/edu/entry.aspx?id=College-Student-Launches-Auction-Site