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2. Auction sniping - Wikipedia

   en.wikipedia.org/wiki/Auction_sniping

   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 ...

3. Dutch auction - Wikipedia

   en.wikipedia.org/wiki/Dutch_auction

   Dial-type silent auction was also invented by the Dutch and is a modern form of reduced-price auction. That is to say, the auctioneer first announces the highest price in public, which is displayed on the corresponding scale on the electronic auction clock, and then the bidder presses the button to bid one by one.

4. Calcutta auction - Wikipedia

   en.wikipedia.org/wiki/Calcutta_auction

   Culcutta auction is a sequential auction, where the bidding for each contestant begins in random order, with only one contestant being bid upon at any time. [3] Accordingly, participants (originally in Calcutta, India , from where this technique was first recorded by the Colonial British ) bid among themselves to "buy" each of the contestants ...

5. First-price sealed-bid auction - Wikipedia

   en.wikipedia.org/wiki/First-price_sealed-bid_auction

   A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. [1] In this type of auction, all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price that was submitted. [2]: p2 [3]

6. Auction theory - Wikipedia

   en.wikipedia.org/wiki/Auction_theory

   A proxy bid is an amount an individual values some item at. The online auction house will bid up the price of the item until the proxy bid for the winner is at the top. However, the individual only has to pay one increment higher than the second-highest price, despite their own proxy valuation. [12]

7. English auction - Wikipedia

   en.wikipedia.org/wiki/English_auction

   An English auction is an open-outcry ascending dynamic auction. It proceeds as follows. The auctioneer opens the auction by announcing a suggested opening bid, a starting price, or a reserve for the item on sale. Then the auctioneer accepts increasingly higher bids from the floor and sometimes from other sources, for example online or telephone ...