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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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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 ...
In 1968, Ritchie Bros. Auctioneers held its first auction with gross proceeds in excess of CA$1 million, in Edmonton, Alberta, Canada. [4]: 39 Edmonton was also the site of the company's first permanent auction site (on company-owned land), which was established in 1976. Until then, Ritchie Bros. had been conducting its auctions on leased land.
Another special case of a combinatorial auction is the combinatorial clock auction (CCA), which combines a clock auction, during which bidders may provide their confirmations in response to the rising prices, with a subsequantial sealed bid auction, in which bidders submit sealed package bids. The auctioneer uses the final bids to compute the ...
It sold its flagship catalog business and its Newport News women's apparel unit and announced that Eddie Bauer Inc. was up for auction. More than 200 Eddie Bauer stores were closed. The company's corporate headquarters, in Redmond, Washington, was sold to Microsoft for $38 million. [30] [31] Despite interest from companies including L.L. Bean ...
Sketch by St. Louis Post-Dispatch journalist Marguerite Martyn of the opening of the Grand-Leader department store on September 8, 1906. Stix, Baer and Fuller (sometimes called "Stix" or SBF or the Grand-Leader) was a department store chain in St. Louis, Missouri that operated from 1892 to 1984.
Mecum Auctions was founded in 1988 by Dana Mecum, [1] a car enthusiast whose father operated a dealership in Marengo, Illinois. [ 2 ] [ 3 ] Dana Mecum initially bought 40 semi-trailer trucks in the 1980s, and traded 10 of them for four houses which he rented out.