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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 ...
Bid4Assets has conducted tax sales via online auction for more than half of the counties in Washington. In October, 2010, Bid4Assets hosted one of the largest online real estate auctions in the history of the United States in which over 13,000 properties located in Wayne County, Michigan, were auctioned due to unpaid real estate taxes. [11]
Instead of having traditional auctions with auctioneers where only people who attended could bid, PropertyRoom.com was created so that these goods could be auctioned online where people across the entire United States could place bids 24 hours a day, 7 days a week. For the clients using PropertyRoom.com's service, they handle the pickup of the ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 18 December 2024. Online Auction Company uBid.com Company type Private Industry Online auction and fixed-price merchandise Founded Chicago, Illinois, USA (1997) Headquarters United States Key people Bob Geras, Chairman Ketan Thakker, CEO/CFO Products Consumer merchandise including electronics, computers ...
In August 2016, the company announced its plan to acquire IronPlanet, Inc., an online auction company. The deal was approved by the DOJ and closed in May 2017. [ 9 ] In 2016, Ritchie Bros. also acquired Petrowsky Auctioneers [ 10 ] based in North Franklin, CT and Kramer Auctions, [ 11 ] a Canadian agricultural auction company based in North ...