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Exactly what is an Online Auction
On-line auctions, also known as virtual auctions, are performed on the internet. This is a service in which a owner markets goods and services over the Internet where bidders can bid anytime and virtually anywhere. Web-based auctions like eBay and MadBid processes are just like regular auctions; it involves a seller advertising something where multiple customers bid starting with a predetermined minimum amount. Bidding commences when a participant logs this amount.
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