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Notable auctions conducted by Bid4Assets include: In 2000, Bid4Assets became the first online auction site to be awarded a GSA contract. That same year, Bid4Assets began conducting forfeiture auctions for federal law enforcement, which became the first public auctions to be conducted entirely over the internet.
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.
The first public auction was held in October 2016, and since February 1, 2017, all assets of bankrupt banks began being sold exclusively through online auctions in the "Prozorro.Sale" system [8] In 2018, with the help of the Kyiv School of Economics, a hybrid Dutch auction was designed and launched. [ 9 ]
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority. [1] [2] [3]
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno [a]), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable ...
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 ...