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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.
Online auction websites of the United States (1 C, 28 P) This page was last edited on 18 February 2022, at 00:14 (UTC). Text is available under the Creative Commons ...
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 ...
Yahoo! Auctions is a service set up by the online search giant Yahoo! in 1998 to compete against eBay. [2]There are currently only two localizations of the service active in Taiwan and Japan; Yahoo! has discontinued the service in the United States, Canada, Singapore, Hong Kong, United Kingdom and Ireland.
One year later, Concierge Auctions broke its own record for the most expensive home ever sold at an auction in the United States: an estate in Florida that sold for $42.5 million. [6] It was the highest-priced home to sell in Broward County 's history, according to property records.
A double auction is a process of buying and selling goods with multiple sellers and multiple buyers. [1] Potential buyers submit their bids and potential sellers submit their ask prices to the market institution, and then the market institution chooses some price p that clears the market: all the sellers who asked less than p sell and all buyers who bid more than p buy at this price p.
Major auction houses have levied the buyer's premium for several decades, particularly in fine art auctions, with percentages in the region of 10–30%. [2] In real estate auctions in many European countries, the buyer's premium, if charged at all, is much less (2–2.5%). More recently in the UK, however, repossessed properties have been ...
Dutch auctions are all sellers' bidding auctions, also known as silent auctions, which can be divided into two types. Manual silent auction is an early traditional form of price reduction auction, in which the auctioneer first publicly quotes the highest price, and then the bidders respond accordingly. In the event of a price that no one bids ...