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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 ...
Car auctions United States — [5] June 22, 1999: Alando: Auction house Germany $ 43,000,000 [6] October 1999: Blackthorne Listing tool United States — [7] June 13, 2000: Half.com: Online marketplace United States $ 318,000,000 [8] December 12, 2000: Precision Buying Service [note 1] E-commerce payment systems United States — [9] January 8 ...
Auctions were held annually in 21 years between 2000 and 2022, with no auctions in 2020 and 2021 due to the COVID-19 pandemic. In total, auctions on eBay for lunch with Buffett raised $53.2 million for the Glide Foundation, with winning bids ranging from $2 million to as high as $19 million for the final auction in 2022.
The price had risen to $3,000 before eBay closed the auction. [8] [9] In May 2006, the remains of U.S. Fort Montgomery, a stone fortification in upstate New York built in 1844, were put up for auction on eBay. The first auction ended on June 5, 2006, with a winning bid of US$5,000,310.
It’s very bizarre to live in a world where you can buy U.S. cities on the same website that you can buy a bunch of '90s Xena tapes. Related: The Most Expensive Items at Sam's Club Cheapism ...