online auction

An online auction is a digital platform where items or services are offered for sale to the highest bidder. Sellers list their items with starting prices, and interested buyers place bids within a set timeframe. As bidding progresses, bids increase until no higher bid is placed, at which point the highest bidder wins. Online auctions facilitate transparent, competitive bidding from anywhere, often for collectibles, electronics, or real estate. They allow for real-time updates and can attract a wide audience, making it an efficient and accessible way to buy and sell goods through the internet.