What is an online auction site?
An online auction is a service in which auction users or participants sell or bid for products or services via the Internet. Virtual auctions facilitate online activities between buyers and sellers in different locations or geographical areas.
What is the auction market?
An auction market is a market in which buyers enter competitive bids, and sellers enter competitive offers at the same time. The price at which a stock is traded represents the highest price that a buyer is willing to pay and the lowest price that a seller is willing to sell.
What is an auction sale?
A sale by auction is a public sale where various intending buyers offer bids for the goods and try to outbid each other. Ultimately, the goods are sold to the highest bidder. An auction sale is complete when the auctioneer announces its completion by the fall of the hammer or in other customary manner.
What is a bid and bidder?
Bidding is an offer (often competitive) to set a price by an individual or business for a product or service or a demand that something be done. … In the context of auctions, stock exchange, or real estate the price offer a business or individual is willing to pay is called a bid.