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By writing this paper, the authors intended to answer questions raised by the transfer of digital artworks in the online space. At the beginning of the study, the basic expressions, including NFT digital artwork, will be explained. Then, it will be examined how these new forms of artwork can be treated by civil law. Although NFTs change hands daily, their legal nature, i.e. if they shall be deemed as things in the civil law sense, is unclear. If NFTs are treated as things, they can be a subject of ownership, and the provisions on the transfer of ownership rights shall be applied, which raises several further questions. According to another approach, NFTs embody the right to dispose, while there are other opinions as to which NFTs, following the model of bank account money, shall be deemed as claims facilitating the application of the provisions of the law of obligations. After reviewing the different approaches to the legal nature of NFTs, features of online auctions of NFT artworks will be introduced. Then, it will be examined if the platforms enabling online auctions fall under the scope of the recently adopted Digital Market Act and if so, which rules of the Act are applicable for them.

Introduction: The development of the internet causes the practice of buying and selling auctions can not only be done conventionally but can also be done online, one of which is by using Instagram media. This online auction transaction not only provides benefits and convenience for consumers but also has weaknesses and in fact in online auction buying and selling transactions , losses can not only be experienced by consumers, but business actors can also experience losses due to non-fulfillment of achievements that should be done by consumers. One of the consumer actions that harm business actors is Bid an Run in the practice of buying and selling online auctions on Instagram social media. Purposes of the Research: The purpose of this article is to find out the application of the principle of buyer’s responsibility for bid and run actions as a form of legal protection for business actors. Methods of the Research: The research method used in this research is normative juridical or known as legal research which is carried out by studying and analyzing the substance of laws and regulations on the subject matter or legal issues in consistency with existing legal principles. Results of the Research: The results show that Legal liability for buyers who in bad faith deliberately do not pay or take bid and run actions can be sued based on Article 1243 of the Civil Code, Article 21 paragraph (2) letter a and paragraph (4) of the ITE Law, and Article 6 letter a and b of the Consumer Law, as well as electronic agreements that have been agreed between business actors (auction account owners) and consumers (auction bidders). Business actors in this case can also sanction directly to consumers who have committed violations by blocking the consumer's account and being blacklisted so that consumers cannot bid with auction business actors anywhere.

Prior studies that have examined consumer behavior have focused more on purchasing intention than selling intention. Sellers hold certain personal values or economic views when selling their second-hand products on auction sites, and so do barter site exchangers, but the latter have values that differ from the former. In this study, we investigate how second-hand owners (sellers or exchangers) determine whether to place an item on an auction or barter site. Based on the Engel-Kollat-Blackwell model, we used a validated questionnaire to explore several internal and external factors. We found that four factors--perceived product condition, reference group, online word of mouth, and reference price--supported both the intention to use auction sites and their actual use, while we found two factors--personal value and reference group--supported barter site use. We used functional magnetic resonance imaging to further observe how utilitarian and hedonic personal values have different effects on sellers' brain activities and decision-making behaviors regarding site choice. [ABSTRACT FROM AUTHOR]

Non-Perishable Experience Goods (NPEG) - items which are rare, durable and expensive, such as vintage cars, samurai swords - sales have been on a steep upward trajectory for the past few decades. Online sales have also witnessed a multifold increase in the past twenty years. Buyers are drawn to online transactions due to the ease and convenience of the process. However, the non-standard nature and the inherent information asymmetry in the purchase of NPEG online, presents challenges in valuing the goods. We examine how online buyers value NPEG in an online setting. Regression Analysis was used to analyze a dataset of classic car auctions on an online platform. The sales were from 2015 to 2023 and the dataset has 42,715 records. Results suggest that the quality of the NPEG is correlated with its valuation. Similarly, vintage and product characteristics which distinguish the NPEG were also found to be positively correlated with the value of the NPEG. Finally, the relationship between quality and valuation is positively moderated by vintage. This study investigated how buyers evaluate the value of an NPEG in an online setting. The findings will help online buyers make better valuations; hence they will be able to benefit from the conveniences of online purchases. The findings would also benefit sellers of NPEG since they will better understand what cues to present to buyers for enhanced valuations. Finally, the study should inform policy makers on how to craft rules and policies to protect the interests of stakeholders in the relatively new online NPEG sale setting. [ABSTRACT FROM AUTHOR]

By writing this paper, the authors intended to answer questions raised by the transfer of digital artworks in the online space. At the beginning of the study, the basic expressions, including NFT digital artwork, will be explained. Then, it will be examined how these new forms of artwork can be treated by civil law. Although NFTs change hands daily, their legal nature, i.e. if they shall be deemed as things in the civil law sense, is unclear. If NFTs are treated as things, they can be a subject of ownership, and the provisions on the transfer of ownership rights shall be applied, which raises several further questions. According to another approach, NFTs embody the right to dispose, while there are other opinions as to which NFTs, following the model of bank account money, shall be deemed as claims facilitating the application of the provisions of the law of obligations. After reviewing the different approaches to the legal nature of NFTs, features of online auctions of NFT artworks will be introduced. Then, it will be examined if the platforms enabling online auctions fall under the scope of the recently adopted Digital Market Act and if so, which rules of the Act are applicable for them. [ABSTRACT FROM AUTHOR]