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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.
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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Manion's International Auction House was an online auction website, and was one of the world's largest online auction houses specializing in historical military collectibles. Before its demise, the auction house had over 50,000 members, and over 20,000 auction items per month. [ 1 ]
Items are commonly placed at an online auction site. Buyers can continuously bid for the items they are interested in. Eventually the highest bidder wins the item. Two types of forward auctions are common. The first is a liquidate auction. Here buyers seek to obtain the lowest price for an item they are interested in.
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related to: hansen online auction hibidgsaauctions.gov has been visited by 100K+ users in the past month
policeauctions.com has been visited by 100K+ users in the past month
locationwiz.com has been visited by 10K+ users in the past month