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Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
A number of Miller's paintings have appeared in various auctions, including his 1969 Psych Beatles, 72 inches by 47 inches, oil on Masonite or plywood depicting elements of The Beatles, Eric Clapton, and Janis Joplin. [6] [7] Some of his art, such as the Realist Horse, have been turned into Goodwill Industries and auctioned off by them. [8]
The auction will be from 10 a.m to noon, according to Bid4Assets, an online marketplace for distressed real estate sales based in Silver Spring, Maryland. No more in-person Oklahoma County sheriff ...
However, online auction sites, unlike live auctions, usually have an automatic bidding system which allows a bidder to enter their maximum acceptable bid. This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if ...
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An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [ 1 ] [ 2 ] [ 3 ] Similar to in-person auctions, online auctions come in a variety of types , with different bidding and selling rules.
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