What is online auction?

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An online auction is a service in which auction users or participants sell

bid for products or services via the Internet

Various auction sites provide users with platforms powered by different types of auction software.

Techopedia explains Online Auction

Online auctions mirror traditional auctions and usually involve multiple bidder participation.

No fixed time constraint

Flexible time limits

Online auctions include business to business

The online auction business model continues to evolve according to market needs.

online services and activities

online services and activities,

Online auctions have effectively created a giant virtual marketplace

No overhead or upfront costs

No initial investment

An online auction is an auction which is held over the internet. Online auctions come in many different formats, but most

In this massive marketplace,

popularly they are ascending English auctions, descending Dutch auctions, first-price sealed-bid, Vickrey auctions, or

he auction site that rules the game is eBay

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According to the Neilson Ratings, eBay is among the top ten most-trafficked sites on the Internet.

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sometimes even a combination of multiple auctions, taking elements of one and forging them with another. The scope and

eBay leads the online auction industry with a more than 60 percent share of the market